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, […]
What Goldilocks Knew About Tax Season
It’s so easy to get a tax filing extension and put off the unpleasant work til fall. Procrastination is easy, and even sanctioned by the simplicity of an extension. But doing it now is important to your financial wellbeing From a purely selfish point of view, you need to know where you and Uncle Sam […]
Forgiveness Starts At Home
The need for forgiveness in bankruptcy extends beyond forgiving debts. Self-care requires that you forgive yourself. Kansas City bankruptcy lawyer Rachel Foley wrote about forgiveness in the bankruptcy context. She wasn’t talking about the forgiveness of debt, but about the negative emotions that can eat you up. Shed the anger at others who threaten your […]
Debts To The Government: Can They Be Wiped Out
It’s easy to assume that debts owed to the federal government can’t be discharged in bankruptcy. Easy, but wrong. Just because the creditor is Uncle Sam doesn’t mean the debt can’t be wiped out in bankruptcy. In fact, debts to the government range from freely dischargeable to not-in-this-lifetime nondischargeable. Honesty required for discharge All of […]
Can You Be Arrested For Not Paying Your Debts?
Despite the story spread all over about federal marshals arresting a man for an unpaid student loan, people aren’t arrested for debt. And Fox News got the story wrong. The man was not arrested because he owed money he hadn’t paid. He was arrested for blowing off a court order that he appear in court. […]
Get Annual Credit Report For Free
When is FREE not FREE? In a world seemingly driven in all matters by credit reports, getting that report for nothing ought to be a good thing, But the commercial entities beat the federal government to the web address freecreditreport.com. And they also got a better ad agency that wrote catchy tunes promoting their product, […]
How To Wipe Out Tax Penalties In Bankruptcy
Tax penalties seem like a further insult when you’re having trouble paying the tax itself. Everything seems subject to an additional penalty: failure to file timely; failure to pre pay sufficiently; failure to be accurate. They mount up quickly, often equaling the unpaid tax. Bankruptcy can not only eliminate your liability for certain taxes, it […]
10 Top Tricks Of The Lending Industry
The tricks lenders use to sell you a bad loan are limited only by the imagination of the lender. And they’re all conceived with one end in mind — big profits, not helping you. And, unlike Pinocchio’s ever-growing nose, the consumer doesn’t see any tell-tale signs that warn of deception at work when credit’s being […]
Free Bankruptcy Advice: 5 Reasons Why I’m Not Free
There’s no free bankruptcy advice in my office. Unlike many, we charge for that initial meeting with a lawyer. (There’s no free lunch either.) That makes us different from lots of other bankruptcy lawyers. Different enough to offend a prospective client who called up this week. He was unwilling to pay for a consultation, and stormed […]
Unfiled Tax Returns Are A Life Sentence
Unfiled tax returns upset all the normal rules about discharging taxes in bankruptcy. This story tells you why. Two clients, each with $200,000 in tax debt, came to my office this week. One can escape it all now; the other is facing several years before bankruptcy will do anything for him. What’s the difference? Filed […]
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