Legal Advice for Business Debts — 85 results
Written by attorney Gary D. Nitzkin, about 5 years ago.
Don’t Ignore that Garnishment served on your business. If you have been served with a garnishment on your employee’s wages, DO NOT IGNORE IT. You must respond to the garnishment within 14... more
Written by attorney Charles Naegele, about 4 years ago.
Normally, when a creditor cancels your debt, as in the foregiveness of a
mortgage if your house is underwater, you must pay tax on the difference
between the loan amount and the fair... more
Written by attorney Henry Lively, about 3 years ago.
The Mortgage Forgiveness Debt Relief Act of 2007 (the Act) gives important relief to borrowers that are considering a Short Sale, Deed in-Lieu of Foreclosure, or a Foreclosure. The Act is... more
Written by attorney Spence Johnson, over 2 years ago.
As a condition of making a loan to a borrower with few assets and no credit history, a bank will often ask other more solvent individuals to sign a document called a "personal guarantee" or... more
Written by attorney Steven J. Fromm, over 4 years ago.
TAX DEBTS FROM RETURNS DUE MORE THAN 3 YEARS BEFORE BANKRUPTCY FILING More than three years must have gone by since the return generating the liability was due, including extensions.... more
Written by attorney Jefferson Mabrito, over 2 years ago.
A small business owner recently contacted me about the possibility of discharging his business debts in a personal Chapter 7 bankruptcy filing. He was worried about whether his business... more
Written by attorney Belan Wagner, over 3 years ago.
This month's Legal Guide focuses on an oldie but goodie: IRC 752Allocation of debt among partnersthe
fundamentals. For various reasons, we have been called up on to consult with... more
Written by attorney Henry Lively, over 3 years ago.
Home Mortgage Interest Deduction -
Even though the law has been out for a while now, the question still comes up often enough "How much can I deduct on my home mortgage interest?" The... more
Written by attorney Gerard O'Brien, 8 months ago.
This is of course just my opinion, but, I contend that Chapter 11 is not actually available to the small business debtor in Southern California and the less travelled road of Out of Court... more
Written by attorney Linscott Hanson, almost 5 years ago.
Have a Minute Book and Keep It Up-to-Date In one case, the Court discussed failure to observe corporate formalities in the context of missing corporate records, saying:
A number of... more