Money Snatchers

jason n asked: My church recently split off and sold a vacant parcel of land. The Church is a 503C. Do we need to pay state and county real estate transfer tax on this sale?

Ailing General Motors moved closer Sunday to its expected bankruptcy filing as company bondholders approved a government-sponsored debt for equity deal, The New York Times reported.

The government’s new road map for General Motors would briefly send it into bankruptcy, erase most of its debt and eventually have it emerge leaner and stronger — and almost three-quarters owned by the taxpayers.

May 27 — Sony Corp. had its debt rating cut one level by Moody’s Investors Service on concern slowing demand, increased competition and the stronger yen will erode earnings.

It is beyond comprehension why US deficits to obscene levels is attractive because we think we have cornered China into continuing to buy our debt ? Believe me, Chinese are not stupid

birdie asked: Most “US” corporations are not even US anymore. If they avoid US taxes shouldn’t they be “kicked to the curb” when it comes to US government contracts?
Let the chips fall where they may. if they do not support America – Why should we support them?
I really would like to hear from GOP supporters [...]

May 25 — Japan’s bonds fell for a third day, the longest losing streak in two weeks, on speculation dealers will reduce their debt holdings in preparation for a sale of 20- year securities tomorrow.

Standard & Poor’s Ratings Services on Friday slashed its corporate credit rating on newspaper publisher McClatchy Co. four notches deeper into junk territory after the company offered to buy back $1.15 billion in debt at a fraction of face value.

dsert_fox asked: If you own an S Corporation in Nevada and you receive all the checks and payments in Nevada. Do still get taxed in California? Do you have to be a Nevada resident? Or do you just get taxed Federal, because you earned everything in Nevada and Nevada does not have a State Income [...]

The Massachusetts home of author Edith Wharton has agreed with creditors on a restructuring plan to reduce its debt.