Money Snatchers

kady1863 asked: To limit liability, I have suggested that a group with which I am involved register with the state as a non-profit corporation. Going through the complications of 501(c)(3) status isn’t important for us. We don’t have employees, or any assets other than, potentially, a bank account. The main objection is that [...]

Absolute power corrupts asked: In your opinion what is “rich”?
Do you think raising capitol gains tax is a good idea?
Do you think lifting the income limit on social security is a good idea?
Do you think raising corporation taxes is a good idea?
And lastly do you think any of these taxes will have a negative effect [...]

C asked: My friend and Ling form a Corporatin. My friend transfers cash of $ 1000,000 and equipment( basis of $ 300,000 and FMV of $ 400,000) for 50 % of a corporation’s stock. Ling transfers land and builing ( basis of $ 510,000 and FMV of $ 450,000) and agrees to manage the [...]