What is taxable income? Part 1 of 3

1
What is taxable income? Part 1 of 3
2

• Taxable income, generally speaking, is the gross
  income of an individual or corporation, less any
  allowable tax deductions. Your taxable income is,
  in other words, the amount of your income that is
  subject to income tax.In the USA, what qualifies
  as taxable income is defined in the Internal
  Revenue Code Section 63. Gross income is
  defined in Section 61 of the Internal Revenue
  Code. The problem begins before this however.

3

• BUT STOP HERE!
• The real first question is DO I OWE FEDERAL
  INCOME TAXES AT ALL? If so, where does it say in
  the Tax Code that I have to pay income taxes??!!
  Most Americans are not subject to the IRS
  jurisdiction!

4

• The writers of the federal tax code would have
  you believe that Taxable income can encompass
  more than just your annual salary. They want you
  to think that taxable income can include profits
  from stocks or real estate sales, winnings from
  the lottery, betting the dogs or horses, and
  winnings from any casino (domestic or abroad).
  Even the cash value of bartered items is
  considered taxable income.

5

• Income as understood by most everyone is part of
  your gross income but is not identified as
  taxable income would include child support,
  proceeds from life insurance policies,
  inheritances, workers compensation payments,
  welfare benefits, compensation awarded as a
  result of physical injury, education scholarships
  or grants, and income paid to your retirement
  account (either a 401k or IRA, up to a certain
  amount). From your gross income, allowable tax
  deductions which covers itemized deductions and
  subsection (b) covers standard deductions, which
  is nice of them considering 95 of Americans
  dont owe any income tax AT ALL!

6

• Note that you cannot reduce your taxable income
  with standard deductions if you itemize your
  deductions.In summary, taxable income is that
  portion of your gross income which is subject to
  taxation by the governing authority, less any
  allowable itemized or standardized deductions.
  Few people go any further than this they
  completely believe whatever they are told and
  never question the status quo. Who can tell me
  where it says in the tax code that you owe
  federal income taxes???

7

• I remember years ago a guy put up 50,000 to
  anyone who could answer that question. No one
  ever collected, which should tell you something.
  The problem is if you dont understand what it is
  that got you tangled in the system, then you can
  never learn how to get out. When you are
  searching to insure you get the largest tax
  return possible it is necessary to begin at the
  beginning. So your first question should be

8

• Do I owe the tax at all?
• I know what you are thinking, But they threw
  Wesley Snipes in prison and Johnny Depp and Steve
  martin got in trouble for not paying. The thing
  is people forget that movie stars are just people
  too. They are just as uninformed as the
  mainstream public. They are not exempt from
  ignorance just because they are rich. They are
  just as brainwashed and suffer from the same
  fears regarding the intimidating taxing agencies.

9

• So, what to do. You should always start with
  finding a professional tax service that has proof
  of their successes in defeating the taxing
  agencies. Then as simple as it sounds you have to
  have the courage to move forward.This isnt about
  being comfortable, it is about Truth. To
  simplify, either you are fine with giving away
  25-35 of your hard earned money or you are not.

10

• End Taxes 4 Ever offer services to our clients to
  ensure they are only paying the amount of taxes
  owed and getting the biggest tax return ever they
  received and remaining in full compliance with
  both State and Federal income tax laws. We give
  tax saving tips for high income earners, guide
  individuals on IRS jurisdiction and how to
  legally stop paying taxes etc. If you decide
  youd like to learn if you are lawfully required
  to pay federal income taxes and if you are owed a
  big tax refund you can send us an email us at
  endtaxes4ever_at_protonmail.com and visit our
  website www.endtaxes4ever.com for more
  information.