I do understand my "business" income. What the "ell the difference of wages. My corp. taxes are much higher than wage taxes.
Wage taxes should be zero, since they constitute mere compensation, not income as income has been repeatedly defined by the US Supreme Court. Income is defined as
gain above cost. A wage earner only has gain above cost if he takes excess wages (above what he uses to sustain himself and family) and invests it, earning a profit on his investment. That profit is taxable income.
If wage earners were courageous, they would report zero income from their wages on their tax returns. Sadly, they'd likely be arrested and sent to prison for doing that, even though they'd have the law on their side.
PS Earned wages are precisely corollary to a business owner who has reported zero income on his tax return due to a bad year where the sum of his receipts exactly equaled his business expenses for the year.
