“The left's obsession with corporations as a spawn of evil is pathological paranoia. A corporation is just one form of organizing a private business enterprise for purposes of limiting personal liability, issuing stock, filing financial reports and paying taxes. Other forms include partnerships and sole proprietorships. Are they less evil? You buy your groceries from corporations, your cars, newspapers, cellphones, clothing and exercise equipment. Your parents and children work for corporations. Are they evil?” ChildrenFormPurposeEvilLeftParentCarExerciseTaxesFinancialNewspapersObsessionCorporationsJust OneEnterpriseReportsClothingsSolePartnershipEquipmentGroceriesParanoiaLiabilityChildren And ParentsSpawnFilingCellphonePaying Taxes Author:Mike Rosen
“President Bush released his tax returns yesterday. He listed the economy as a liability. He gets to write that off.” WritingPresidentEconomyReturnTaxesYesterdayPresident BushLiabilityTax Returns Author:Jay Leno
“My net worth is the market value of holdings less the tax payable upon sale. The liability is just as real as the asset unless the value of the asset declines (ouch), the asset is given away (no comment), or I die with it. The latter course of action would appear to at least border on a Pyrrhic victory.” RealActionValuesDiesCoursesGivenVictoryTaxesBordersLatterAssetsCommentDeclineLiabilityNet WorthOuch Author:Warren Buffett
“Most people don't know this, but if you settle a debt for less than the amount you owed, you are potentially responsible for taxes on the forgiven debt. Look at it this way: You received goods and services for the full amount of debt, but you're only paying for a portion of it - sometimes less than 50%. Anything more than $600 is generally considered taxable, but the IRS will sometimes waive the tax if you can prove that your assets were less than your liabilities when the debt was settled.” PeopleIfsKnowsWayLooksSometimesAmountProveTaxesResponsibleDebtSettlingGoodsAssetsPortionsForgivenLiabilityIrsGoods And Services Author:Jean Chatzky
“The worst loophole is what Donald Trump has talked about: the tax deductibility of interest. If you let real estate owners or corporate raiders borrow the money to buy a property or company, and then pay interest to the bondholders, you'll load the company you take over with debt. But you don't have to pay taxes on the profits that you pay out in this way. You can deduct the interest from your tax liability.” IfsWayRealInterestPayCompanyWorstTrumpTaxesPropertyProfitDebtCorporateOwnersLoadEstatesLiabilityLoopholesRaiders Author:Michael Hudson
“We know through the process of energy independence, our whole geopolitical footprint changes in terms of our national security and how we operate the American military. In addition to that we've got all these forward liabilities on these entitlement programs that, with the right tax and the energy policy, we can pay down and offset some of those liabilities.” EnergyTermSecurityMilitaryPolicyTaxesProgramIndependenceNational SecurityEntitlementFootprintLiability Author:Anthony Scaramucci
“I learned in an extremely hard way that the accountability falls with me.” WayHardFallResponsibilityTaxesI've LearnedAccountabilityLiabilityHard WayYou Live And You LearnLearning The Hard Way Author:Stephen Baldwin