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I've joined this message board to participate in becoming more educated on tax issues. Having been a fan of The Motley Fool philosophy for many years, I've come to respect the incredible detail and integrity of the information that is disseminated on the Fool website.
What I come to respect about the Fool's, and that includes all that participate, is that they start with the basics and build from there. A firm foundation of understanding, whether it's debt management, long term investing, or tax issues.
Because we are in the "Tax Strategies" board, I thought it would be Foolish to start a discussion based on a basic, firm foundation of taxes. And, I was wondering where do you go to learn about taxes. A friend, who is a tax professional, directed me to the Internal Revenue Code, and said, "If you want to know about taxes, read the law. Read the Constitution. Read the Bill of Rights. Read the Internal Revenue Code. Read the Code of Federal Regulations"
This, of course, sounds overwhelming, and it is no easy task, but I'm doing just that. I've taken upon myself, in a very Foolish way, to become more educated on an issue that is steeped with mystery, convolution, and misrepresentation. I'm not relying on the "Wise" tax experts, the IRS, or anyone to help me understand the law and how it is applied or misapplied.
That said, I'd like to ask my first question:
Has any one had the opportunity to read the Internal Revenue Code, that would be Title 26 (http://www.tns.lcs.mit.edu/uscode/TITLE_26/ftoc.html) of the United States Code http://www4.law.cornell.edu/uscode/)?
I look forward to a mind expanding and heated discussion on taxes. Is that possible? I believe, indeed.
Fool on.
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