The purpose of bankruptcy law is to provide a framework in which both individuals and businesses can resolve debt obligations they cannot otherwise meet. The term “bankruptcy” in the popular vernacular is used broadly, but in fact there are many types of bankruptcy proceedings. The truth is that other attempts at debt resolution, like loan… Read more »
Posts Categorized: Tax & Bankruptcy Law Information
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Numerous people face tax problems with the IRS. It is not the best situation to find oneself in, but if you are in need of tax debt relief, solutions do exist. In addition to typical debt consolidation, those seeking tax debt help can make use of currently not collectible status, installment arrangements, or the offers… Read more »
Comparing Bankruptcy vs. Consolidating Debt Joseph Lederman Being in debt is almost like being trapped in a cave with no way out. It can be an incredibly challenging and emotionally demanding experience to escape from. Staying on top of numerous loans can be very difficult and can often lead to bankruptcy. If you are struggling… Read more »
Tax deductions, or deductions which can affect a taxpayers income tax, represent expenses acquired. These expenses are deducted from the gross income when computing income taxes. This results in a lower taxable income and lowers the amount of taxes to be paid. There are numerous factors which can affect standard tax deductions, including federal, income,… Read more »
Tax shelters are legal ways of decreasing an investors taxable income and tax liability. They are typically investments that provide a beneficial transaction to lower taxable income. The tax shelters are carefully monitored by tax authorities to make sure an investment is not made primarily to avoid taxes. If you are using a tax shelter… Read more »
An increase in tax incentives can mean an increase in the ability to promote charitable giving, education, and aid in the economy. Through means of tax exemptions, tax deductions, and tax incentive checks, the average taxpayer can provide education to a family member, funds for personal retirement, or a way to buy a television set… Read more »
Tax exempt savings are important to many taxpayers. By finding a way to save additional tax freeand often matchedincome, you are able to save money and prepare for the future. Through health savings accounts, the 529 savings plan, and retirement plans, you can invest a portion of your income to prepare for medical expenses, college… Read more »