Even when corporate retailers collect California sales taxes from customers, the individuals running the entity face liability for that debt. That’s because, , if the business doesn’t pay, state law allows collection from the business owners themselves The rules are complicated and the results can be harsh if the business falls behind. So business people […]
Stop Making Quarterly Tax Payments
Uncle Sam expects a quarterly tax payment from the self employed. Since you don’t get a paycheck with regular tax withholding, the burden’s on you. Lighten the burden. Make this the last quarterly tax payment you pay. Seriously. Don’t make any quarterly payments for this coming year. Think I’m advocating tax resistance? No way. The tax collectors […]
Pay No Tax On Debt Discharged In Bankruptcy
Debt discharged in bankruptcy is tax free, even if you get a 1099 claiming otherwise. It’s unnerving when you get a 1099 after you thought the debt, and all its complications, were gone. But for bankruptcy clients, the answer is simple: Debt discharged in bankruptcy is not taxable. Tax on cancelled debt The tax code […]
Find The Hidden Mortgage Interest Tax Deduction In Bankruptcy
Is your Chapter 13 plan paying back mortgage payments that were delinquent when you filed bankruptcy? If so, a mortgage interest tax deduction lurks, unclaimed, in the trustee’s records. Track down that tax deduction, add it to your tax return, and you reduce your federal income tax burden. But it’s difficult because, for reasons I […]
Your Tax Refund Is Exposed In Bankruptcy, Unless…
The prospect of a tax refund makes most of us light up even when we haven’t even calculated what the refund might be. But if you’re thinking of filing bankruptcy before you actually see Uncle Sam’s check, take a minute to plan. Your right to that refund is property of your bankruptcy estate even if […]
Tax Deductions Hidden In Chapter 13
Don’t miss the tax deductions hiding in your Chapter 13 bankruptcy. The same, very important debts that your Chapter 13 plan pays are often tax deductible. And you are still the person who’s paying, even if the trustee writes the check. Don’t miss out on those deductions. Tax deductions in bankruptcy Let’s look at some […]
Bankruptcy Busts Taxes If The Timing Is Right
Got unpaid taxes for 2019? Three tax discharge timing rules control when those taxes can be wiped out in bankruptcy. On April 15, 2023 those taxes reached the end of the line as priority claims in bankruptcy. Or, the magic date may be October 15, 2023, if you got an extension to file the return. […]
Cut Tax Penalties In Bankruptcy
Get in tax trouble and the tax penalties often grow huge. What starts as a manageable problem can soon tower over you. Breathe deep; there is a solution. Chapter 13 bankruptcy can cut tax penalties down to size. All tax penalties discharged in 13 Old or new, large or small, Chapter 13 discharges all unsecured […]
Don’t File Bankruptcy In December
Bankruptcy can provide tax relief, if your timing is right. Tax troubles are at the heart of so many bankruptcy filings. It makes sense: bankruptcy is a powerful and predictable tool to get out of tax debt. But filing bankruptcy before the end of the year may fix only a part of your tax problems. […]
- 1
- 2
- 3
- …
- 7
- Next Page »
