For tax purposes, "income" only means corporate "PROFIT"...


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 Those who order the Federal Mafia or the video or cassette seminars from Freedom Books will get a two page, twelve paragraph statement that attaches to your 1040 "zero" return. On the 1040 itself (see sample below) you report "zero" income regardless of how much you received in: wages, commissions, interest, alimony, capital gains or from operating a business. 

For tax purposes, "income" only means corporate "profit."  Therefore, no individual receives anything that is reportable as "income."  In essence we have a profits tax, not an income tax. 

Corporations, for example, pay no income taxes on their "income" They only pay income taxes on their "profit," if they have any. And if they have no profit, they pay no income taxes, regardless of how much "income" they have. Therefore, whatever "income" means, to corporations (for tax purposes), also applies to individuals. 

The law that purports to define the meaning of "income" for income tax purposes does not define it one way for corporations and another way for individuals. So whatever applies to corporations, must also apply to individuals.


Secrets to living an Income Tax-Free Life

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