Liabilities

Before you go out there and spend a  lot of money on things you may want to classify them.   A liability is something that loses value or worth after you have obtained it.  For instance if you go out and buy a brand new car and you drive it off the lot it is a liability.That car is going to be worth less before you get to the street.  In fact it is going to lose about 3 THOUSAND dollars before you get home something to think about before you get to the lot and blow your tax return.  I will have more to say about tax returns later. Later