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LSDefine

Simple English definitions for legal terms

hidden asset

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A quick definition of hidden asset:

A hidden asset is something valuable that a business has, but they don't tell anyone about it or they say it's worth less than it really is. Sometimes they do this on purpose to avoid paying taxes or to keep it a secret from someone who is trying to take their money away.

A more thorough explanation:

Definition: A hidden asset is something valuable that a business has, but it is not listed or is listed as being worth less than it really is on the company's financial records. This is often done for bad reasons, like trying to avoid paying taxes or keeping it hidden from someone who is trying to collect money from the business.

  • A business owner might have a valuable piece of artwork that they keep in their office, but they don't list it on the company's balance sheet because they don't want to pay taxes on it.
  • A company might have a lot of cash that they keep in a secret bank account, but they don't list it on their financial records because they don't want someone who is trying to collect money from them to find out about it.

These examples show how a hidden asset can be something physical, like a piece of artwork, or something like cash that is kept in a secret place. In both cases, the business is not being honest about what they have, and they are doing it for bad reasons.

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19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
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