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Community Forums › News and General Discussions Forum › Money and Finance Forum › New Tax law to effect many Companies

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New Tax law to effect many Companies
Advice on what to do with all the money you made on your last contract besides investing in Pork Bellys and oranges. Also discuss Taxes, Investments, IRAs, Starting Your Own Company and Financial Q&A
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PanaVet
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Joined: Sep 30, 2005
Posts: 1419
Location: CONUS for now
PostPosted: Sat Aug 16, 2008 1:43 am
Post subject: Re: New Tax law to effect many Companies

If you are an American citizen your income regardless of source is suppossed to be reported to the IRS.

If you have a clearance and the IRS finds that you didn't report the income... you are the nail waiting to get hammered....

2 words....Tax Evasion..... remember Willie Nelson and the guy who one the first Survivor.

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Jody
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Joined: May 10, 2006
Posts: 1483
Location: Iraq
PostPosted: Sat Aug 16, 2008 8:47 am
Post subject: Re: New Tax law to effect many Companies

Yep. I despise the wage tax but I understand why it is there and why it has to be. Paying taxes is just part of life. Even the Army pays taxes once they pass beyond the same exclusion threshold that we have. Well, that's according to my buddies on the O-corps who make enough to discover that fact.
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