Chapter
Taxes and Survival Gear
23:50 - 27:31 (03:41)
The speaker discusses the difference in tax treatment between receiving money as a gift versus receiving money from selling a product, specifically survival gear.
Clips
Jim Bakker moves into a fake Main Street USA compound, called Morningside, in 2008, which is constructed by his millionaire backer, Jerry Crawford, after Bakker's previous compound faced bankruptcy.
23:50 - 24:55 (01:05)
Jim Bakker
Summary
Jim Bakker moves into a fake Main Street USA compound, called Morningside, in 2008, which is constructed by his millionaire backer, Jerry Crawford, after Bakker's previous compound faced bankruptcy. Bakker can no longer own property due to his felon status and millions of back taxes owed to the IRS.
ChapterTaxes and Survival Gear
EpisodePart Two: The Rise And Fall (And Rise) of Arch-Grifter Jim Bakker
PodcastBehind the Bastards
The difference between money received as a gift and money received through selling a product is significant in terms of taxation.
24:55 - 27:31 (02:36)
Taxes
Summary
The difference between money received as a gift and money received through selling a product is significant in terms of taxation. Selling a large quantity of survival equipment can result in a significant portion of the earnings going to taxes.