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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: i-node who wrote (988869)	12/19/2016 8:18:07 AM
From: Land Shark	Read Replies (1) \| Respond to of 1569612

But if he didn't pay the loans back, he would not be able to claim the deduction. Not true! You don't know tax law! Loans can be carried over many years and are not reported in conjunction with tax deductions and P/L. Carrying costs are also a deduction, against business income. And, he would have income from cancellation of debt. Dumps business would go BK! So, Dump probably raids the company coffers and off-shores funds/assets to tax shelters, declares it as a "loss" and stiffs his creditors by going Ch 11. This is the way of the mafia.