A Protected Right

Right ~2~ Work

It has long been recognized that an individual within the borders of the United States — and/or its territories and/or its insular possessions — has the right to life, which equates to the right to earn a living.

While there will be many who will attempt to debate this issue, they simply cannot. Why not?

The First Amendment guarantees every person living within the United States — whether they are a citizen or not — the right to be free! This is implied in the right to freedom of speech. How so? What if you were employed as a speechwriter — could anyone stop you from pursuing such an occupation after considering the First Amendment right to freedom of speech? This is known as a protected right. What other provisions of the First Amendment are covered by the First Amendment and the right-to-work implications?

Concepts

Core principles that frame the right to work

Blue-collar, white-collar — which one do you choose?

Why does one have to choose? Why can we not just earn a living, support our families, treat our neighbors kindly, and enjoy our lives? Because life is not that simple, is why! The ignorant know not what they want, the dumb do not understand what they need, the stupid can't comprehend what is going on, the absent-minded has forgotten who they are, and the knowledgeable do not want to share their knowledge with anyone. Understanding what is taxable and what is not taxable will determine whether you are a blue-collar worker or a white-collar worker, because your tax dollars should be working for you not against you!

Common-Occupation — what does it really mean?

"The significance of the Supreme Court's decision on the right to pursue a common occupation lies in its impact on individual liberties and due process under the law. The Court has held that the Fourteenth Amendment's Due Process Clause protects the right to pursue a chosen profession or trade, providing some level of protection against arbitrary government interference with individuals' ability to earn a living in their chosen field."

Yale Law Journal →

Living expenses — what is the definition?

The cost of living refers to the amount of money needed to maintain a certain standard of living, usually measured by calculating the average cost of a number of specific goods and services required. It encompasses basic expenses such as housing, food, taxes, healthcare, clothing, education, entertainment, and transportation. The cost of living can vary based on factors such as location, and it is often used to compare how expensive it is to live in one city versus another.

Bankrate →

Remembering capacities

The "law of capacities" in the context of taxes refers to the various roles or statuses that an individual taxpayer may have, and how these roles can have implications for their tax obligations and benefits. Each capacity may carry specific tax considerations, and each capacity operates differently depending on specific tax forms. Individuals will need to do their research to determine if it applies and how it applies to them — it is important for taxpayers to understand how their particular capacities may impact their tax situation.

Investopedia →

Differences between a deduction and a credit

A tax credit is a dollar-for-dollar (this confirms that tax credits are equal to dollars, as identified by the "Joint Resolution" of June 5, 1933) reduction of the income tax owed, directly decreasing the amount of tax owed. A credit can be nonrefundable or refundable. A nonrefundable credit lets you reduce your tax liability to zero. On the other hand, a tax deduction reduces the amount of your income that is subject to taxes. In general, tax credits tend to be more valuable compared to deductions because of the dollar-for-dollar reduction they offer.

H&R Block →

Reviews / Story

A hypothetical story about Alex

This is a hypothetical story — hopefully you can relate.

The Beginning

In the bustling heart of the city, amidst the cacophony of daily commerce, there lived a young man named Alex. Alex was not your typical entrepreneur; he was a sole proprietor who had mastered the art of blending passion with pragmatism. His business, though small, was his world. He provided digital marketing services, a field that demanded both creativity and analytical skill. This year, however, presented Alex with a unique challenge that went beyond the realms of algorithms and ad campaigns. With $65,000 in carryforward credit, $24,000 in deductions, $12,000 in net operating losses, and a total income of $112,000 before deductions and taxes, Alex found himself at a critical financial juncture.

The city, with its relentless pace, had taught Alex one thing: precision. As he sat in his modest office, the glow of the computer screen illuminating his determined face, he knew that the upcoming tax season was not just another hurdle. It was an opportunity — to navigate the complexities of the tax system to his advantage, ensuring the sustainability of his dream.

DataMas will soon be creating a chatbot designed to help with such calculations.

Slide 2 — Applying credits

Alex's expenses for the year amounted to $40,000, a significant sum that underscored the operational costs of running a digital marketing firm. After paying all bills and necessary expenses for the company, his income dwindled to less than $12,000. To most, this scenario would spell despair — but to Alex, it was a puzzle awaiting solution.

Armed with his financial records and a clear understanding of his position, Alex embarked on a journey through the labyrinth of tax laws and regulations. He was not alone in this endeavor; his trusted advisor, a seasoned accountant named Elena, was by his side.

The first step was to address the $65,000 in carryforward credit. This credit, a vestige of more prosperous times, was a lifeline. Alex and Elena worked meticulously to apply this credit, ensuring it was utilized to its fullest potential, reducing Alex's tax liability significantly. Next, they tackled the $24,000 in deductions. The $12,000 in net operating losses presented another opportunity. In the world of taxation, losses were not merely setbacks; they were potential saviors.

Slide 3 — The IRS by design

Doing your own taxes can seem like a daunting task, but the Internal Revenue Service (IRS) is legally required to ensure that tax forms are designed in a way that allows individuals to complete them without the need for professional assistance. This is rooted in the Internal Revenue Code (IRC), which aims to make tax compliance as straightforward as possible.

Step 1: Understand your tax situation — income sources, filing status, available deductions and credits. Step 2: Gather your documents (W-2, 1099, receipts, records). Step 3: Choose your filing method — electronic filing is fastest. Step 4: Fill out your return carefully following IRS instructions or your tax software. Step 5: Double-check entries and file before the deadline. Step 6: Keep records for at least three years.

The IRS provides numerous resources — the IRS website, Taxpayer Assistance Centers, the IRS helpline, plus the VITA and TCE programs offering free tax help for those who qualify.

The law requires tax forms to be easy to read and understand →

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Nothing to be afraid of

Many people are free to practice, and they do not realize the benefits that come with completing your taxes on time.

You didn't know you had that write-off?

Most people are unaware of all the things they can write off on their taxes. Why? Because tax preparers simply don't know themselves in most cases.