I’d love to know how he pays for all these kids. The article states:
People respected me, and I helped make the people in the bar safe,” he said, expressing pride in a job that nets him somewhere around $1,300 per month.
Luther has other ways of raising cash, including talent restoring and repairing automobiles. He also owns some rental properties free and clear and, yes, he said, he files tax returns.
“I would describe him as an entrepreneur,” Mahoney said, when asked about Luther’s earning potential.
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So what it’s essentially saying is that all his money is paid in cash? How would anyone know what he earns and while he says he files tax returns I’d bet it’s only on the income from the rental properties.
What a mess!
Ever heard of Earned Income Credit? See page 40 of 2009 Form 1040 for details...one interesting little quote: “The EIC is a credit for certain people who work. The credit may give you a refund even if you do not owe any tax.” Is this not a great Country? The tables indicate that the more children you have, the greater the credit...got it?
I am not a CPA or tax specialist, so I may have it all confused, but looks like a place for large families to spend a few minutes checking things out!