Hobby Lobby Owner Loses Income Tax Deduction
Other than the indication that they sure have a lot of confidence in their son, the only other item of some interest is buried in the boilerplate section. The beneficiaries of the trust are the descendants of the Greens, with one possible exception -“Any child or descendant who is born to persons out of wedlock shall not be considered as a “child” or “descendant” of such persons for purposes of this Trust Agreement ” (There is a kind of shotgun marriage exception to the proscription). Regardless it seems that disinheriting out-of-wedlock descendants does not align well with a strong pro-life view, but maybe that is just me. To be fair the provision is boilerplate. I was presented with a trust instrument that included it for my own meager assets and had it modified.
Cooperatives May Provide End Run Around Limitations On 20% Business Deduction
I think that one of the reasons that the concept has not taken hold very well in the land of the free and the home of the brave is that the people with entrepreneurial personalities who can really make a business go do not have a lot of patience with democratic governance.
That was the story with Fraternal Communion Number One founded by Adin Ballou. The enterprise was pretty successful but the members with the largest capital ended up taking the enterprise over and turning it into the Town of Hopedale, Massachusetts, and Draper Industries. It is an interesting story, which I shared in this piece and this one.
Follow Me
Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.