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Detailed text transcripts for TV channel - CNN - 20101206:22:25:00

the dominican republic. if i told you i did pay income tax on it. this was in the dominican republic. the whole transaction was if and when it made profit, those profits would not come directly to me. the profits would go to a reduction of the mortgage. and, so the building was supposed to be worth an $80,000 villa. i paid $30,000 and it took 20 years for the $50,000 to ultimately be paid. because i didn t receive any cash contribution. because the non-cash contribution was the reduction of the mortgage, the taxes that were taken out were paid to the dominican republic. but it s just the ways and means committee or ranking member, you re in charge of writing the tax laws. you should have known that you had an obligation to the irs as well? there s no question that that the accountant had they

Detailed text transcripts for TV channel - MSNBC - 20100328:11:52:00

we both agree on that is the franchise in a box is not going to do it for going to do it for you. agreed. i would say there are good franchise consultants and they re free. go to score and you can find betty ott who has been in the business for 16 years and can give you great free information. it s a great resource. this is from a tax consultant and he writes, how do i enter into a partnership with someone who has no cash contribution in the business? he ll offer other services such as cleaning services, translation and graphic design. i don t know how to set the terms and conditions on the profit from the overall business. let me start with you, phil. bringing in a partner for cleaning is not my idea of a good idea. they have to be really careful about that. your partner has got to bring something, and he can bring one, i think, of several things. they can bring money, which apparently he isn t doing. they can bring credibility and experience or sexual favors i mean love

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