Aircraft tax question

"Matt" wrote:
That's right. I'm not sure of the tax acts for delegation, but the 14th
Amendment states:

Sorry; 16th Amendment.

"Matt" wrote:
Also, I believe Tax Court is the only court in America where the
burden of
proof is on the defendant/taxpayer instead of the State or
plaintiff.


No longer the general case, ever since Congress amended the statute
in 1998 to shift the burden to IRS in most cases (26 USC 7491).

Fred F.

Matt wrote:

That's right. I'm not sure of the tax acts for delegation, but the 14th
Amendment states:

16th amendment.

I always wondered how an amendment like that could get ratified.

Wilson had just taken the presidency, and he sold Congress on the idea of a
graduated income tax as alternate income for reduced tariffs. As far as the
public was concerned, these taxes would target only people like the Vanderbilts.
Later measures introduced by Wilson were anti-trust laws, child-labor laws, and
the establishment of an 8-hour workday for people such as railroad workers.
These efforts to rein in big business were quite popular.

George Patterson
We don't stop playing because we grow old. We grow old because we stop
playing.

Looks guys.., why start calling names.., I mean, does it make your stance
any stronger..?? Frankly, this tread started out with the question of
buying an aircraft and paying a tax. Both of you (and the other bystander)
have moved the subject over to a discussion of an "income" tax, as apposed
to a simple fee, licensing, and/or a property tax issue.., and you are
correct..! However, the subject of whether an "individual", as opposed to a
"business".., has a "liability" to pay a tax on the smiple purchase and
operation of an aircraft is getting your balls in an uproar. True again,
the 16th amendment (as ratified.., another subject?) does give congress the
authority to levy and collect a tax on "incomes", but "income" in this case
is NOT derived from the purchase or ownership of an aircraft..., unless it
is used in a business..!! Oh, and by the way, I have a copy of the
incorporation papers for the IRS in the state of Delaware in front of me as
I write (smile) which gives it some authority to act as an "agency" with
limited powers to collect taxes with regards to alcohol, tobacco, and
firearms since it's realignment with the DEA, BATF some years ago. Please
keep searching the IRS code for the definition of "income"..!! Now.., back
to the subject 45 treads back..., and no name calling..!!

81mm wrote:
Looks guys.., why start calling names.., I mean, does it make your stance
any stronger..?? Frankly, this tread started out with the question of
buying an aircraft and paying a tax. Both of you (and the other bystander)
have moved the subject over to a discussion of an "income" tax, as apposed
to a simple fee, licensing, and/or a property tax issue.., and you are
correct..! However, the subject of whether an "individual", as opposed to a
"business".., has a "liability" to pay a tax on the smiple purchase and
operation of an aircraft is getting your balls in an uproar. True again,
the 16th amendment (as ratified.., another subject?) does give congress the
authority to levy and collect a tax on "incomes", but "income" in this case
is NOT derived from the purchase or ownership of an aircraft..., unless it
is used in a business..!! Oh, and by the way, I have a copy of the
incorporation papers for the IRS in the state of Delaware in front of me as
I write (smile) which gives it some authority to act as an "agency" with
limited powers to collect taxes with regards to alcohol, tobacco, and
firearms since it's realignment with the DEA, BATF some years ago. Please
keep searching the IRS code for the definition of "income"..!! Now.., back
to the subject 45 treads back..., and no name calling..!!

Selling something for more than you paid for it is called making a profit.

Profit is taxable as income for individuals as well as businesses.

What part of this are you struggling to understand?

In the real world very few items purchased by individuals are ever
sold for a profit and the big ticket items that are likely to are
generally registered in some manner making tax avoidance difficult.

If you buy an old chair at the Goodwill store for $25 and it turns out
to be a rare antique worth $25,000, you owe the IRS (and most likely
your state) taxes on $24,975 of income.

The fact that the odds of anyone ever knowing about it are just about
nil (unless you have a big mouth, **** someone off, and they turn
you in for the reward) does not mean that you are not legally liable
for the tax.

--
Jim Pennino

Remove .spam.sux to reply.

It is time to plonk him as he is terminally stupid or just being ornery
to get our goats.

wrote in message
...
81mm wrote:

What part of this are you struggling to understand?

Tell'ya what guys.., keep paying taxes you don't owe.., but why misinform
others? As to any other aviation buffs who may be viewing this tread, looks
folks, just do the research and think a little about the answers these
"true" Americans who have nothing to offer but false information, bad
manners, and name calling..!!

Now, as to you two bad mannered assholes, as a retired Special Forces
type.., if you punks were to speak to me that way in public, I'd smiply tear
off your fu&%&'n head and **** in the hole. Now, as per your second hole..,
just report to your local IRS office.., bend over and spead your cheeks..!!!
My apologies if I offended any of the innocent by-standers..!!

81mm wrote:
Looks guys.., why start calling names.., I mean, does it make your stance
any stronger..?? Frankly, this tread started out with the question of
buying an aircraft and paying a tax. Both of you (and the other bystander)
have moved the subject over to a discussion of an "income" tax, as apposed
to a simple fee, licensing, and/or a property tax issue.., and you are
correct..! However, the subject of whether an "individual", as opposed to a
"business".., has a "liability" to pay a tax on the smiple purchase and
operation of an aircraft is getting your balls in an uproar. True again,
the 16th amendment (as ratified.., another subject?) does give congress the
authority to levy and collect a tax on "incomes", but "income" in this case
is NOT derived from the purchase or ownership of an aircraft..., unless it
is used in a business..!! Oh, and by the way, I have a copy of the
incorporation papers for the IRS in the state of Delaware in front of me as
I write (smile) which gives it some authority to act as an "agency" with
limited powers to collect taxes with regards to alcohol, tobacco, and
firearms since it's realignment with the DEA, BATF some years ago. Please
keep searching the IRS code for the definition of "income"..!! Now.., back
to the subject 45 treads back..., and no name calling..!!

Yes, the income isn't derived from using the airplane, but when you sell
it, you may well generate income in the form of a capital gain.

Matt

81mm wrote:

Tell'ya what guys.., keep paying taxes you don't owe.., but why misinform
others? As to any other aviation buffs who may be viewing this tread, looks
folks, just do the research and think a little about the answers these
"true" Americans who have nothing to offer but false information, bad
manners, and name calling..!!

I'd love to not pay capital gains taxes, but you have yet to show a
legal way to avoid them.


Matt

Fight! Fight! Fight!