imm save you some trouble and 'splain...
i don't see reimbursements for supplies and utilities listed anywhere in there.http://www.law.cornell.edu/uscode/text/26/61
(a)*General definition*Except as otherwise provided in this subtitle, gross income means all income from whatever source derived,* including (but not limited to) the following items:*
(1) Compensation for services, including fees, commissions, fringe benefits, and similar items;*
(2) Gross income derived from business;*
(3) Gains derived from dealings in property;*
(4) Interest;*
(5) Rents;*
(6) Royalties;*
(7) Dividends;*
(*Alimony and separate maintenance payments;*
(9) Annuities;*
(10) Income from life insurance and endowment contracts;*
(11) Pensions;*
(12) Income from discharge of indebtedness;*
(13) Distributive share of partnership gross income;*
(14) Income in respect of a decedent; and*
(15) Income from an interest in an estate or trust.*
(b)*Cross references*For items specifically included in gross income, see part II (sec.*71*and following). For items specifically excluded from gross income, see part III (sec.*101*and following).*
knowing to use ctrl + F seems a good enough return on however many years worth of tuition.
so thats how you propose to defend your business selling weed? youre just recouping your costs?
wow. thats a really snarky retort, even from you.
There's nothing about taxation in there. Even if it were otherwise, see Article VI of the Constitution: the constitution and the federal statutes are the supreme law of the land, above any other law. The obligation to pay income tax on income cannot be abrogated by some state statute. It makes no sense to cite that law with reference to income taxes.
IRS regulations state that proceeds from the sale of narcotics are non-taxable...
Wow, you might be a bigger asshole than UncleBuck.Appeal to what? Are you trying to write Latin?
Old people have run this country into the ground. JFK was the last great American Pres, he was young, idealist, and shot in the head by crazy people like you.
Reason:
You hate society
You are old and going to die soon
You are senile
You have given up on the world around you
You feel wonderful in a tragic situation imposed on others
You lack empathy for others, excluding yourself
You have rage against the youth because you are jealous
You have NO hope for the youth, even if your medical doctor is younger than you
You feel as if you are a god-like being
You cannot properly associate reality
You act out loud in public, sometime belligerent
Your nature for peace is overwhelmed by your delusions for grandeur
You dreamed of being God as a child, more delusions of grandeur
You have had thoughts of hurting others
You plan on dying with a shout, rather than a whimper
You depend on SSI and disability
You have grandchildren you disdain in everything
Your wife left you and you are alone
You treat women badly
You are a drug dealer for a living
Your family hates you and probably left you
You are in your early to mid-60s, white male, FAT... But you exercise!
Am I right on most/all of this?
You MIGHT be correct in thinking much of the youth is corrupted with simplicity but is it not the job of the older generation to teach the youth from their own mistakes? You are a TERRIBLE person, this is why your family left you. They needed to get away from you, you are a monster with delusions of grandeur.
I know this because half of what you say contradicts the other half of what you say. "Checks and Balance, reduce tyranny*, I WANT ___ TO BE NUMBER ONE!" reeks with idiocy....
*(you misspelled tyranny, btw, it`s not two of the letter "y")
Nope. Even dope production expenses are taxed. Say you bought some blow for $50,000. You sell it for $100,000. You pay taxes on $100,000. If you were a pimp you could deduct the costs of bandages every time you beat a whore to keep her in line. Ain't America grand?
Except narcotics, which are specifically mentioned as being non taxable.
Look up IRS form, 3949-A. The IRS doesn't fuck around.
And which regulation would that be?
The IRS says alll income is taxable. With the Caveat that you cannot take any deductions for expenses that support your illegal activity. It really fucks up the business model of dispensarys
You're so fucked if the IRS randomly audits you.
There's a massive difference between the ACA and this current mess. Obama ran and was elected w/ healthcare being a priority. Then the MAJORITY wrote and passed a bill that was signed. The minority wasn't happy, unsuccessfully challenged that law in Congress dozens of times and finally was rebuked by the SCOTUS. They lost that battle, many times over.
A majority of people or a single person telling others that they MUST pay for something they don't want or need is still using the force of government to perpetuate a theft.
Buck has the linkage, it is fact tho.
what income?
what sales?
i don't think they audit too many 1040EZ filers.
that is simply not a true statement..there are many incomes that are not taxable
