Erasing Income Tax Debt In Bankruptcy
There can be many reasons to consider filing bankruptcy. Most commonly, people are forced to file due to job loss, divorce, or medical problems that result in expenses that exceed coverage by medical insurance.  Often such financial calamities result in past-due, unpaid income tax, among other debts. In certain very specific circumstances, unpaid income tax…

Everything You Need to Know About Tax Debt
If you find that you are in an increasing amount of tax debt due to the most recent Tax Day or from a buildup of previous years’ debt, you may be feeling stressed, overwhelmed, and even defeated. It can be easy to ignore your increasing tax debt and bury your head in the sand. However,…

How to Maximize the Money from Your Tax Return
Filing your taxes is a yearly occurrence that most Americans dread. But this routine doesn’t have to be a drag when you understand how to file them—and how to garner the biggest return on your form. From choosing a tax form to filing its items, here is a list of the ways in which you…

What Restaurant Employees Need to Know About Taxes
If you are working at a restaurant, you likely know that there seem to be grey areas when it comes to wages, tips, and taxes. Although bartenders and servers can walk away from a hectic night of work with a couple hundred in their pocket, there is a great deal of uncertainty about future taxes…

When You Should Definitely Work with a Tax Preparer
There are lots of digital platforms that have made filing income taxes easier for individual taxpayers and their families. The systems designed by top tax companies allow users to plug in financial information and receive accurate calculations on their projected returns. This is a great convenience for some, but it’s not always the better option.…

5 Common Tax Filing Mistakes and How to Avoid Them
Filing tax returns can be a stressful exercise especially for small business owners. You often want to prepare your financial statements and reports in-house, but then this tends to set you up for small but costly mistakes. Here are five of the mistakes that taxpayers tend to make time and again.   Not keeping accurate…

During the severe and ongoing housing market crisis millions of homeowners found themselves “underwater” on their mortgages, owing more than the market value of their homes. That made it virtually impossible to qualify for refinancing or to sell the home and generate enough money to pay off a burdensome loan. The inevitable result was the…