Wednesday, December 05, 2007

Wanderers 2007.12.5

I showed up late, per usual on Wednesday mornings, to catch the balance of an excellent, highly technical presentation by Wanderer Nancy Ankorn, CPA. She ran through the for-profit business models defined by the USA tax code: sole proprietor- ships, partnerships, C & S corporations, LLPs and LLCs.

From my viewpoint, the partnership information was the most interesting. And yes, the K-1 is a lot like a 1099.

On the back burner (via the Ubuntu Dell), I participated in an exchange on Quaker-P about religion and business. So when are Quakers going to run some key businesses again, like in the good old days? I don't think the oats guy is really a CEO, more of a figurehead, like Betty Crocker.

Nancy really knows her job well, and what with the rules always changing, that requires lots of study. The apparatus she monitors forms a basis for lots of flashy North American soaps, like my friends in Dhaka (Bangladesh) would watch. Turns out Nancy and I are both Warren Buffett fans.

Amazingly, Jim Buxton joined us this morning, despite major flooding in his neck of the woods.