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 […]
Posts Categorized: Tax & Bankruptcy Law Information
Avoid Bankruptcy by Restructuring Your Business Debt
Learn how to avoid bankruptcy by restructuring your debt.
How to Avoid Wage Garnishment
Find out how to avoid wage garnishment.
How to Rebuild Your Credit After Bankruptcy
Find out how to repair your credit score after you have filed for bankruptcy.
IRS Tax Debt Relief Solutions Are Easier Than You Think
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 […]
Bankruptcy vs. Debt Consolidation
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 […]
Types Of Tax Deductions And Creating A Tax Deduction Checklist
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, […]
Tax Shelters The Difference Between Illegal and Legal Tax Shelters
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 […]
Various Forms of Tax Incentives
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 […]
Three Main Types of Tax Exempt Savings Plans
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 […]