Posted on 24/07/08
Holding companies can give rise to double tax problem
Okay, so it's not the nicest table in the world. The fact is, it's been down in a corner of our basement for 10 years. In her haste to purge our home of unwanted things, my wife, Carolyn, donated that table, a perfectly good set of encyclopedias, a mood ring and two nice rug hangings to a charity down the road that was having a garage sale to raise money. Now, I can part with the mood ring, but that table was something I made in high school with my own two hands. I still recall paying $23 for the wood to make it. And now, so many years later, I find myself buying my own table back for $25.
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