Raguragavan Sreetharan

Raguragavan Sreetharan | Many people ask, “What is income tax?” This tax confuses most people and rarely does anyone have a good understanding of what it means. In this article we will go over the basics of income tax and hopefully better prepare you with your own tax knowledge. Income tax is charged to both people and businesses alike. In either case it is calculated on the amount of money that the person or business makes. In the United States, the tax system is based on a progressive scale. This means that the more you make, the higher percentage that you have to pay is. The highest rate is 38 percent while the lowest is zero percent. (Raguragavan Sreetharan) Raguragavan Sreetharan Again, in most cases businesses and people are treated very similar in the eyes of tax law. If a business does not earn much money, then its tax liability will be less than one that might earn millions. The progressive tax system was created as a way to be fair to all people. The idea is if you are not ma

Raguragavan Sreetharan | The lender, Bank or credit card Company offers you money by way of a loan or credit card account. You are invited to sign into their system and thereafter are known as your name in capital letters on a loan agreement or credit card, which is signed by you in order to validate it. IE signed by an individual. The lender is a fiction whereas you are a person. Once you sign your name on the card you also become a fiction, which cannot be. A person cannot sign as a fiction. (Raguragavan Sreetharan) Money as far as the lenders are concerned, can be anything, which can be sold for cash or accepted as money. The lenders accept your credit card application/loan application and establish a ‘limit’ and use your signature on the application form as ‘money’ or promissory note. This is treated as your asset based on your future labour. Raguragavan Sreetharan This application/promissory note/your asset is used to fund your new account. Therefore it is in essence; it is your m