Legal Advice for Business Debts — 85 results
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 John Hubbard, over 1 year ago.
Debt collection calls can cause a huge strain on a consumer's state of mind. This guide attempts to help consumers know the law and make rational decisions when faced with debt collectors.
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, 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 Charles Naegele, about 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 Robert Suhajda, almost 4 years ago.
A business bad debt is a loss from a debt created or acquired in your trade or business. Any other worthless debt is a business bad debt only if there is a very close relationship between... 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 John N Skiba, over 3 years ago.
I routinely meet with small business owners that are going through financial difficulties and often get the question if just the business can file bankruptcy and eliminate the company debts.... more