NamePros.Com - View Single Post - "Legal" Tactics to Reduce IRS TAX Owed from Domain Revenue

Originally Posted by PowerUp

I'm putting my findings here incase I forget.
Schedule 6, para 27 of the ITA 1967 states that ( I can't remember the exact words but it goes along like this) .... income accruing from outside the country and received in the country is exempted from tax.

So basically my parking and domain income is exempted from tax. WOOHOO.

As far as your parking revenue, your parking income is accruing with the parking company. Are they located outside the country? If your a U.S citizen why wouldn't you owe tax for your income?