NOTE: I don’t exactly know who made this awesome piece. I got this from an email eons ago that I wanted to share to commence my money blog. 1,141 more words
Tags » Liabilities
City workers in charge of maintaining public parks will get immunity from liability under a new state law.
At the beginning of the tax year, Melody’s basis in the MIP LLC was $60,000, including her $40,000 share of the LLC’s liabilities. At the end of the year, MIP distributed to Melody a cash amount of $10,000 and inventory (basis of $6,000, fair market value of $10,000). 79 more words