Filing for personal bankruptcy can help you get out of debt; however, if you own a small business and operate the company as a sole proprietorship, you may want to consider how your business may be affected by this bankruptcy if you decide to file. In this situation, you may end up losing some or all of your business assets, which is why you should thoroughly discuss your situation with a bankruptcy attorney before you file.
31 March 2016
As the owner of a small business, you will want to increase your tax savings to ensure you are putting as much money as possible back into your business. Unfortunately, many small-business owners make big mistakes on their tax forms that end up costing them significant amounts of money. Therefore, to help you with your next tax return, consider the following tips: Deduct the Cost of Your Home Office If you plan on running your business from home, you will be able to deduct the cost of this space from your final tax bill.
14 March 2016
Millions of Americans, from ages 19 to over 90, file for bankruptcy every year with chapter 7 bankruptcy being the most popular of them all. For your application to be approved, you must pass the means test and also get your filing reviewed by a judge. Just because you passed the means test, it doesn't necessarily mean your application will be approved. This article will look at 3 common reasons, with historical precedence, for why your chapter 7 bankruptcy application may still be denied.
8 July 2015