Helse, Tough times everywhere but I don't believe the states themselves can file for bk relief inspite of insolvency (only cities, municipalities, etc)

Alarm: News
Los Angeles Municipal Corporation Hiring Bancruptcy Law Firm

Translation:
LA prepares to default on bonds. CA and Illinois next? Silence on "news" networks
indicates LA is insolvent.

Success
Streaming audio player with playlist operational in Blog.
Bandwidth expense? Audio files stream from alternative server.
Requires html enabled to broadcast in forum. Next project: embed the blog radio on homepage.
http://www.accountingblock.com/blogs...ayer-test.html

Helse and Zahid are preparing for a debate topic.

"Foreclosure Accounting"

Outline For Foreclosure Accounting
1. IRS - Bank; 1099 Loss, Income to Foreclosee?; 1040 consequences
2. CA Law regarding Nonrecourse liability
3. Deed in Lieu (owners transfer home to lender, concede)
4. "Short Sale"
5. Transference of title to entity
6. Promissory Note debate; Deed of Trust enforceable?
7. Above: Assignment of Lender's rights lawsuit news
8. Demand Notice under CA law to lender to produce promissory note(s)

You better jump into the Marketing & Sales post in Comments and Suggestions.

I think Zahid is ready to entertain the idea of a Joint Venture with concepts of profit.

"Zahid remarks moderators have authority to delete posts (i think)", regarding your suggestion I remove a blatant spammer's posts.

Flag
Dive into stock valuation debate from from CPA Hartford.

Stock versus LLC/LP option valuation topic.

Debate No. 3:
Obama Care taxation and qualification rules.

8% tax?
Small business included?
Sole Proprietorship?
Partners?
Self Insured Exemption?
Administered to by states?

"An LLC distribution may be reclassified, similar to an employee versus independent contractor relationship, as
payment from the an LLC to an employee?"

Request: Third party to post question in Business Tax section regarding LLC payments to
LLC service members regarding guaranteed payments versus DNI.

Example:
Helse, if I create a drawing right from an LLC, will subsequent LLC distributions
be converted from 1402(a)(13) SET exempt to SET applicable?