The tax extension in the mail and you don’t have to think about income taxes til October 15th approaches. Right? Not in my book, if you are self employed. The self employed don’t have their estimated income taxes withheld from their paychecks. There aren’t any paychecks if you are among that resolute band of entrepreneurs,…
Business is my bankruptcy “B’ word.?? Business debt of the individual filing bankruptcy is dischargeable just as other personal debt. In Silicon Valley, the very innovation and risk taking that makes the Valley vibrant brings with it the risks of not making it in the marketplace.? Bankruptcy can be the “do over” vehicle freeing manpower…
“Being sent to collections” is a boogie man for businesses as well as for individuals, I learned this week. I was counseling a small business with lots of vendor debt.? We were looking for a strategy that could keep them in business.? When I suggested that management sort their payables into vendors they needed and…
One of the thorniest problems I’m confronting in the Great Recession is what advice to offer to those who are self employed only because there is no option. In the past year, I’ve seen half a dozen folks whose small business isn’t really making it, and in better times, I would have urged them to…
Usually I’m bewailing the lack of attention with which bankruptcy clients handled the incorporation of an ongoing business.? In variably, the vendor accounts are still in the name of the proprietor, the stock may not have been issued, and it’s unclear whether there was an explicit transfer of the assets to the corporation. But last…
