Snipes was all goofed up with that whole "Income Tax Is Illegal" thing, ignoring that little thing known as The Sixteenth Amedment, which reads:
"The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration."
Mebbe he can't read or something.
Last year the income to my corporation was into shallow six figures and my corporation paid less than $1k in income tax. This year hasn't been so good but I fucked off for about six months and let things slide. Corporations are great things because you can expense out damned near everything. My corporation even owns my Corvette. Gotta have a company car, you know! My dogs are expensed out quite legally as "security costs", along with their food, vet bills, toys, treats; even their food bowls, houses and enclosures. The corporation buys the firearms, again for "security services".
I actually have a small office which is in an old house that I bought for like $12K and I charge off all costs associated with that dump and let a friend live there in return for taking care of the place and I headquarter my corporation there in one locked room. My corporation pays me minimum wage, so my personal taxes are like zilch. The pickup is owned by the corporation because the corporation needs to be able to move things like computers, keyboards and has to haul hay for the beasties. All exenses connected with the truck are legally 100% deductible from corporate income.
Three years ago when things were really good, my corporation bought the farm(Literally!) on which I live, paying cash and then sold the farm to me, thus creating an expense for the corporation and making my interest payments to the corporation fully deductible to myself personally. If I need money, the corporation LOANS me money, adding the amount to my mortage and the proceeds of the LOAN are NOT taxable to me. I have a "sweetheart loan" on which I only make interest payments with a balloon that just magically keeps extending as the result of various corporate resolutions extending the time frame. Of course, I own the corporation and pretty much tell it what to do, so I'm kind of making interest payments to myself but that's OK and legal. Enough stock in the corporation is owned by others to keep it from being considered a "closely held" corporation in the eyes of the IRS but the stockholders rarely recieve dividend payments as the corporation is always broke at the end of the year.
The corporation owns the livestock, such as they are and pays me to take care of them. All legal and even passed an audit. Everyone hates corporations until they need one.
Snipes is a fool.
Sally.
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