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Owners of business personal property with an aggregate value of less than $20,000 can file a simplified rendition statement containing only: 1) the property owner’s name and address; 2) a general description of the property by type or category; and 3) the location of the property
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To keep fair and balanced on this subject, one down side to the Roth IRA on Roids is that the contributions are made with after-tax dollars, as opposed to some other retirement plans such as Traditional IRA
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The assessed value of the furniture, computers, and equipment should be the price for which it could be sold