Posted 5 years ago on Oct. 3, 2011, 7:17 p.m. EST by FrogWithWings
This content is user submitted and not an official statement
even if it only relates to this specific cause or you want to buy, sell and trade gummy bears.... whatever floats your boat.
Learn to filed long form if you filed. Learn what the schedules are, especially schedule C.
Do this especially if you are a W2 working person. You can do this simply by learning the basic tax codes, keeping records, keeping an income and expense book, and even paying state sales tax if your passions lead you to a retail business.
Those who understand business basics need to help community wide.
The objective? Play the same game the non-paying corporations/big money plays. Do not cough up a penny in tax that you are not forced to pay. Nationwide, everyone.
It's legal and everyone should do it. Why should a family grossing over 250K per year and with two kids be able to legally get an EIC? Because they know the game and play by the rules.
These rules and games are nothing compared to those passed for the elitists/corporations who salivate waiting for you to hand over 30%+ or your pay each and every year, because they will end up with it too. One way or the other and they surely will not pay taxes on it.
Make your business congruent with your passions, hobbies and modes of living. Write off every single deduction you can and if every W2 worker in the USA does this NOW, and inevitably reduces their tax liability, those voices will be heard as we all know it is the W2 people who pull the load.
The overload at the city, county, state and federal level coupled with the reduced tax revenues now voluntarily given up without any proactive attempts to become a long form filing schedule C profit and loss hugging patriots, will be overwhelming.
Why not opt out of the Social Security System too? Demand your money now.
Make a real change and keep the money you work for while perusing happiness! There is nothing in the law that says a person starting a business must be successful! You can "lose" a lot of money while trying to learn how! If the money lost ends up being given back to you by your children now on your payroll, ends up on your desk or entertainment center because your business needs a computer or TV, or financing a family vacation which actually was a failed business travel, well, so be it.
Lease your business a home office, your vehicles, recreational toys, etc.... if you don't, just keep handing them the money they take, like most do and think they are supposed to do!