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5 Small Business Mistakes That Thwart Success

By Cathy Moran

small business

In recognition of National Small Business Week, we look at what a bankruptcy lawyer knows about business. Everyone tells you what to do to succeed in business;  you also need to know what not to do if you don’t want to fail. Running your own business is the classic American dream.  It’s romantic and heroic. […]

Filed Under: Featured, Small business Tagged With: going out on your own, small business

How Guarantors Can Escape Tax On Soured Debt

By Bill Purdy

settlement tax

Tax lawyer Bill Purdy and I shared a client with a small interest in a failed corporation with a huge SBA loan.  Could our client escape the tax consequences should we be able to settle his  liability on a million dollars in unpaid loan.  Was the client looking at a million dollars of cancellation of […]

Filed Under: Small business, Taxes Tagged With: 2019, default, guarantor, tax consequences

Tax Filing Extension Invites Tax Trouble For The Self Employed

By Cathy Moran

We never make tax deposits for our small business because we don’t know what we’ll owe. We just wait til the return is prepared and try to pay then, he explained. But, again this October, he couldn’t write a tax check for a year’s worth of income. So the client sitting across the table from […]

Filed Under: Consumer Rights, Small business Tagged With: discharge taxes, quarterly tax deposit, tax filing extension

Three Cheers For Entrepreneurs

By Cathy Moran

Entrepreneurs

Let’s hear it for entrepreneurs.  Those brave, tireless people with a dream who start or run small businesses. They possess more energy and perseverance than most of us.  They form the backbone of our economy. In honor of National Entrepreneurs Day, November 20th, let’s recap Soapbox’s best on being in business for yourself. It’s probably […]

Filed Under: Featured, Small business Tagged With: 2018

Your Business Partnership Needs A Prenup

By Cathy Moran

business divorce

Financial partnerships are at least as challenging as marriages.  And business deals don’t have love to smooth the rough spots in the relationship. The traditional marriage service ends with the charge that what God has joined together,  let no man put asunder. That’s great with love, but not so great with money. Something will likely asunder […]

Filed Under: Consumer Rights, Small business

How Your Property Gets Sold In Your Partner’s Bankruptcy

By Cathy Moran

co owned property

It isn’t just marriage that can get you roped in to a bankruptcy case that isn’t your own. Own community property and a bankruptcy filing by your spouse or your soon-to-be ex can drag you into a bankruptcy court. But the issue is broader:  joint ownership of any kind of asset in any state, community […]

Filed Under: Consumer Rights, Small business

Four Essential Habits For Successful Entreprenuership

By Cathy Moran

Starting out in business for yourself?  Congratulations. Small business, and businesses that were once small, form the tapestry of our economy. I’ve run my own small business for coming 40 years and my favorite clients in my business are other small business people. But, in the euphoria and exhaustion of starting up, don’t put off doing […]

Filed Under: Managing Money, Small business

What Asset of Failed Business Is Most Valuable?

By Cathy Moran

Usually I rant about mistakes clients made when they incorporated their ongoing business. Come hard times for the business, those mistakes eat into our options for the owners survival when the corporation goes down. Invariably, the vendor accounts remain in the name of the proprietor, the stock may not have been issued, and it’s unclear whether there was an […]

Filed Under: Consumer Rights, Small business

Collections Is A Boogie Man For Businesses Too

By Cathy Moran

“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 […]

Filed Under: Small business

Preserving a Small Business through Bankruptcy

By Cathy Moran

Chip Parker and I have been writing about bankruptcy issues for the self employed over on the BankruptcyLawNetwork.Chip pointed out that the bankruptcy of the shareholder does not protect the operations of a corporation that the debtor owns, since the corporation is not in bankruptcy, the shareholder is.The flip side of that proposition is that […]

Filed Under: Small business

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Bankruptcy Basics

About The Soapbox

You’ve arrived at the Bankruptcy Soapbox, a resource of bankruptcy information and consumer law.

Soapbox is a companion site to Bankruptcy in Brief, where I try to be largely explanatory and even handed (Note I said “try”).

Here, I allow myself to tell stories and express strong opinions. We dig deeper into how to consider bankruptcy and navigate a bankruptcy case.

Moran Law Group
Bankruptcy specialists for individuals and small businesses in the San Francisco Bay Area

How Bankruptcy Works

When Can I File Bankruptcy Again

Remember the old high school cheer:  two, four, six, eight, who do we appreciate? Turns out, that's not just a cheer, it's shorthand for the rule on when you can file bankruptcy again. And it points out that when you can file again depends on what kind of bankruptcy you filed last time. Here's how it … Read more

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