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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Bill who wrote (410797)	2/15/2011 10:31:25 AM
From: LindyBill	Read Replies (1) \| Respond to of 793578

My POV was always, "report most, deduct like hell." You went to jail for not reporting, not for deducting too much.

To: Bill who wrote (410797)	2/15/2011 11:05:56 AM
From: Katelew	Read Replies (1) \| Respond to of 793578

Everybody, large and small, rich and poor, chooses how much income to actually report Salaried people are pretty captive to their 1099. But such illegal activity has nothing to do with effective "rates" in the tax code, which was your original point I believe. Here's what I had in mind when I said that. If a taxpayer is somehow able to underreport half their actual revenues, their effective rate is cut in half compared to what it would be if all the revenues had been submitted to their accountant and thus the IRS. It's the old 'keeping two sets of books' thing.