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August 18, 2017

Taxes

Constitutional Taxes: What is an Indirect Tax

I’m going to talk a bit more in-depth about Indirect Taxes. To get a primer on what type of taxes are allowed by the Constitution read Constitutional Taxes by yours truly. Okay, let’s jump in to the most interesting of the Indirect Taxes – Excises. An Excise is a tax on a profitable privileged activity.

Constitutional Taxes

The United States Constitution allows only two types, or classes, of taxes to be used. They are Direct Taxes and Indirect Taxes. In this article I will explain what the two types are and why the Constitution limits taxation to only these two classes. In later articles I’ll dive deeper into each class of tax

Federal Income Tax – Terms of Art

The Federal Income Tax laws are contained within U.S. Code Title 26 – Internal Revenue Code. You should go see it for yourself at https://www.law.cornell.edu/uscode/text/26/ and then come back here for some critical information needed to understand it. The tax code uses many words and phrases that are known as Words of Art or Terms