Bill Potter

Earned Income Tax Credit Larger Credit For Lower Income

Plan your investment - If you know the facts, you will be better in generating your wealth. This means, that you can choose available and effective tax-saving investment plans. You can choose NSC, infrastructure bonds, Flexible bonds (Please check the res... Read >

Legal Consequences For Income Tax Non Payment

Contrary to popular notions, the first income tax was not put into law in the early 1900's. In fact, the first President to institute an income tax was Abraham Lincoln. In 1861, President Lincoln and Congress passed an income tax law to assist with fundin... Read >

Tax Alternatives

The reason flipping houses is a mistake for some beginners is that they don't know the income tax consequences. One problem with flipping houses, or selling too many properties too quickly, the IRS could say that your real estate business is your trade, s... Read >

Is Avoiding Income Tax Moral

The closest the Supreme Court has come to saying that "from whatever source derived" in the amendment expanded the taxing power of Congress was in Justice Holmes' dissent in Evans v Gore (253 U.S. 245, 267 (1920). (Holmes dissent) (Partially overruled by ... Read >

Understanding The Dreaded Income Tax

Senior citizens, for example, can claim certain kind of benefits and will also be able to avail of exemptions on their income tax by hiring a lawyer to file their income tax returns. Similarly, self-employed professionals will need to pay tax on their inc... Read >