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Thread: Do you receive an income?

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    Senior Member Michael Joseph's Avatar
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    Quote Originally Posted by osbogosley View Post
    A man tells me he wants his house remodeled. I agree to do the remodel. I use my energy(currency) to perform the changes. He, in exchange, gives me a check.

    What he gives me is used to refill my energy bank. I view this as reimbursement for something I had used from my stores of current(energy).

    I used something I already possesed in exchange for value of a different form. I loaned it until such time as he paid back what was determined to be equal value.

    The current went 2 directions, out and back in. From my energy bank and then back in.

    There was no wage, no pay, and no income. It was simply an exchange of currency whereby balance is achieved.

    My records are balanced. There is no profit. There is no excess.

    Agreeing to a tax on the check is insanity.

    I explained this to the bank woman while I was setting up a new account and her eyes grew big. She said she would have never thought of it that way. I wonder what a revenue agent would say.
    Beard v. Commissioner, 82 T.C. 766, 777-79 (1984)

    On the face of your argument, I think yoiu are correct, but you deny the trust.
    Last edited by Michael Joseph; 08-14-14 at 01:38 PM.
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