Freeport-McMoRan (FCX)

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https://pocketsense.com/federal-hardship-tax-relief-5516538.html

If your owing the goods and service tax’s on a company that you had a equity position you automatically fall into the hardship deferred tax program. This allows you to defer those tax’s owed against personal income or other earnings.

This does not takeaway what you owe. On your death the tax’s will be removed from the existing assets. There is an interest charge as well for the time you hold the tax. You can gift your assets to your kids but the kids will have to come up with what is owed.

There are many who get up set of this claiming they are being taxed on after taxed money not realizing where the tax is coming from. In Canada it’s much easier to conclude this but in the United States it’s much harder because of personal write downs and tax’s payed on capital appreciation.

It was mentioned earlier the signing of a Dead of Gift that allows the bank to assume the debt for there own cash flow purposes. I don’t recommend it. It’s the cheapest capital you will ever come across. The thing is it forces you too lick your wounds and learn from your mistakes and jump back into the game.

Anytime you see depreciation costs noted under the loss portion of the cash flow statement lend exstreme caution to the wind. It does buy some time buy a little time for a company. It may or may not fix the problem and it is risk on a personal note that can follow you too the end if you don’t find earnings to offset the debt you have maybe have taken on.