Legal Advice for Business Debts — 85 results
Written by attorney Benjamin Cramer, almost 2 years ago.
If you find that you owe the IRS but cannot afford to pay the full tax bill, you are not alone. Many people are in your situation in this economy. There are, however, some specific steps... more
Written by attorney Radha Rothrock, almost 2 years ago.
Offers in Compromise
Radha Rothrock is a tax lawyer in Fort Myers who handles IRS Offers in Compromise. An Offer in Compromise (often mistakenly referred to as an "offer and compromise")... more
Written by attorney Henry Lively, almost 4 years ago.
If you have cancellation of debt income you do not have to include the debt in income to the extent that you are insolvent at the time immediately before the cancellation of debt. Insolvent... more
Written by attorney Henry Lively, about 4 years ago.
When you have cancellation of debt income (COD) there are several exceptions that you can use to avoid being taxed on the income. Cancellation of debt income occurs when you have a debt... more
Written by attorney Fred Steingold, over 5 years ago.
Form a corporation or limited liability company (LLC). If you're currently doing business as a sole proprietorship or partnership, you're fully liable for all business debts, including... more
Written by attorney Charles Naegele, over 4 years ago.
When a bank or other finanical institution sends you a 1099-C, normally you have to report this amount on your tax return as income. However, there are many exceptions to this, outlined... more
Written by attorney Joseph P. Doyle, over 3 years ago.
Extreme and out of control debt can cause an enormous amount of stress on an individual. Fortunately, there are options available that can put the debtor back in the driver seat and on the... more
Written by attorney Gerard O'Brien, over 4 years ago.
Times are hard and many of us have negotiated reductions in the debt we owe which is secured by our homes and even unsecured credit card debt, memberships, dues, purchase prices on already... more
Written by attorney Jory L Trease, 6 months ago.
The general public often has a misconception of what responsibility a co-signor has to pay a particular debt. All co-signors are equally responsible for payment of the debt. Most people do... more
Written by attorney Nathan Carr, 9 months ago.
Income tax debt can be wiped out in bankruptcy. Many times, taxpayers and even some tax and legal professionals are not aware that income tax debt can be wiped out in bankruptcy. However,... more