247,000 for its proposal entitled the “Stony Brook Energy Company Initiative”. The purpose of the effort is to help the entry of new and existing companies into the alternative and clean energy business in New York State. The primary of the power Company Initiative will be the traditional services offered by the brand-new York State Small Business Development Center system.

In addition, these basic services will be significantly augmented with a collection of activities including meetings, workshops, and counseling on financing opportunities specifically focused on green and clean energy business development. Further, an internet – based Early Stage Development Forum will be established to permit and encourage communication among energy company principals, and science, engineering, and business experts through the company development process.

The Stony Brook Energy Company Initiative will consist of two cycles approximately 22 months long. Individual Energy Business Development Teams (EBDTs) will be shaping for every of the companies in the subset discovered by the committee, consisting of the business principals, an SBDC counselor, sales and marketing consultant and a specialized advisor. The business plans and presentations of the mature EBDTs will be used in a Financial Conference by the end of the cycle, which is attended by potential lenders and investors. The Stony Brook SBDC has started a blog for the initiatives already, which you are invited to see and comment on. That blog is associated with this website as well.

Now granted, this may have unintended consequences – most parts of the taxes code do. 250,000 and proceed to remortgage it over the years then, adding to the total amount of the loan. 500,000 on the home loan, having “taken out” cash to shut in some serial refinances. You have depreciated the house on your taxes also, each year cutting your income tax.

But now your “adjusted basis” in the house is zero dollars. 500,000 which hardly takes care of the home loan. You walk away with no cash. 75,000 or more – 15% of the proceeds. You made no cash on the deal, nevertheless, you owe money now, which you haven’t got. Now in this case, you’ll not cry “unfair” because the individual with the house made money and just chose to spend it by taking cash out in refinancing.

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They also got a tax deduction as well. The fact they didn’t put some money aside for the unavoidable capital gains fees isn’t the fault of the government or the IRS but themselves. But of course, we expect an investor to be a more sophisticated when it comes to finances little. Someone buying real estate ought to know what they are doing, but of course, the track record of boom-and-bust-and-default-and-foreclosure that has been going on since the 1980’s would seem to tell a different story.

Americans all think their homes are constructed of yellow metal and get angry when they find out that sometimes they aren’t. 250,000 (I question the prices of the law school, though – that seems awfully pricey!). So he is not walking away from debts simply, he is walking away from something of value he bought.

That he overpaid for this “something” is not actually the IRS’s problem. Quite simply, the IRS isn’t being “mean” here but just doing their job. Actually, they haven’t any discretion or choice in the matter. If they chose to “forgive” tax debts, they would be in more trouble than the bad P considerably.R.

Of course, this raises the question, does Donald Trump have to pay fees on all the forgiven debts he had run his various businesses into the surface? And I suspect the answer is “no” as he was shielded from the majority of this debt (straight) as these were run through corporations that ran his various tasks.

The corporations then declare themselves bankrupt and leave the banking institutions and the IRS hanging. Too bad laws’ students can’t include. Oh, a neat idea, but it will not work. For all of us “little people” the idea of forming a company and then accumulating personal debt in the organization name simply won’t work. I had three subchapter-S corporations at one time, and two of these had debt, my real property venture specifically had more than a million dollars in mortgage debt.