Bankruptcy
Your back taxes, interest and penalties can be wiped out by filing bankruptcy.
If you qualify, bankruptcy can be the best solution to resolve your crushing tax problems.
Unfortunately, not everyone qualifies to wipe out their tax debt in bankruptcy. Certain rules have to be met first. If you file bankruptcy and do not meet the rules, the IRS will still be in hot pursuit after your bankruptcy is over. Proper pre-bankruptcy planning is key to determining if bankruptcy is, or can be, a viable solution.
“I have worked with Thompson Greenspon for 30 years and you have always looked out for my best interest. Can’t say enough good things.”
– John B.
Our specialists are all seasoned professionals who have years of experience working within your industry. Reach out to us today to schedule a consultation.
LATEST POSTS ON TAXES
A Cost Segregation Study Can Accelerate Depreciation Deductions
Businesses that acquire, construct or substantially improve a building — or did so in previous years — should consider a cost segregation study. These studies combine accounting and engineering techniques...
Know Your Tax Obligations Before Hiring Household Help
There are several reasons for hiring household help, including child or elder care or general cleaning and yard maintenance. However, when you hire outside help, you become an employer. Thus,...
Choosing Between a Calendar Year and a Fiscal Year
Many business owners use a calendar year as their company’s tax year. It’s intuitive and aligns with most owners’ personal returns, making it about as simple as anything involving taxes...