Title 26 of the US code governs taxes. It’s millions of pages long, and doesn’t make for light reading. Imagine bedding down with a propped up pillow and 5 King James bibles and Tolstoy’s War and Peace. You get the picture.

It can happen to anyone. Whether you were on a lean period and just didn’t have the money to pay your taxes or you just overspent, like the Federal Government tends to do, eventually anyone could fall behind. And with interests and penalties, your back taxes can go from a monkey on your back to an 800-pound gorilla! Don’t worry though – there are steps you can take to prevent the IRS from seizing everything you have and doing to you what they did to Willie Nelson.

If you are the owner of a small business, then you may have had dreams that you will one day leave your business to your children so that they can continue to run it and continue to allow it to prosper. It has often been the trend throughout history for a business to remain in the family for generations. A father who works his entire life building a business has every right to dream and to imagine that he will be able to leave something useful to his son. He may have spent many years training his son in the matter of how to successfully run the business.

Federal income taxes are collected under a “pay as you go” structure. Ideally, this means that a portion of your income is taxed at the moment it is earned. Sort of a drive-thru earning system. You tell the voice in the box how much you want, they give you a little less than that at the window and away you go.

Until recently, passive income opportunities were limited to the brick and mortar world. A real estate mogul could sit back and collect big bucks each month in rent. A network marketing executive could earn money from his downline while sleeping. Before the Internet, setting yourself up to earn a passive income required an investment; sometimes, a hefty one. However, with all of the opportunities the Internet brings to earn revenue, you can set yourself up to earn a passive income without a hefty investment.