FHL expands to Port Huron

[Jackets Woodchuck]

Basically, certain types of small businesses in the United States don't pay corporate income taxes on profits, and their profits/losses are instead passed through to the owners and reflected on their personal income taxes.

So if you make a lot of money outside of hockey, and own a hockey team, you might be able to have a lower taxable income if the hockey team is organized so that you can pass the losses through to your personal income taxes. That's a very, very short version.

If I'm not mistaken, though, doesn't such a setup expose the owner to personal liability for the club's debts?

 

[CrazyEddie20]

If I'm not mistaken, though, doesn't such a setup expose the owner to personal liability for the club's debts?

Only if the business is organized as an partnership. Organizing as an LLC or S corporation will generally protect personal assets unless corporate formalities aren't maintained or there are certain other forms of malfeasance by ownership.

 

[Sports Enthusiast]

Pretty much reminds me of what Afr did lol

 

[GFHL]

Finally naming this team.


http://porthuronhockey.pointstreaksites.com/view/porthuronhockey/news/news_303145

 

[GFHL]

http://www.thetimesherald.com/story...ckey-team-officially-named-prowlers/28573497/

 

[TcNorth]

Soskin no longer owns the FHL Dayton team, so he only owns "2" teams, including Port Huron.

 

[SemireliableSource]

Kinda. He does and doesn't. He owns the team that was in Dayton and is now in Port Huron. He has no connection with the new Dayton team.