The Bankruptcy Guide from Steinberg Enterprises
What you need to know if you are considering filing for bankruptcy
Bankruptcy is an option individuals and businesses can be forced to consider in difficult economic times such as these. This guide helps you understand the basics of bankruptcy and answers tax-related questions you may have about the process. It also links to other bankruptcy resources that can help you work towards resolving your financial difficulties.
According to FindLaw, “Bankruptcy is a generalized term for a federal court procedure that helps consumers and businesses get rid of their debt and repay their creditors.”
Bankruptcy Basics You Need to Know
If you are considering bankruptcy, you may not be sure which option would be best for your financial situation. Learn about the different types of bankruptcy so you can make an informed decision about your next steps.
What Items Are Considered in a Bankruptcy?
Learn which of your assets, liabilities, and other aspects of your life are taken into consideration in the proceedings with this informative checklist.
Installment Agreements Offer an Alternative to Bankruptcy
Your accounting professional can help you set up an installment agreement which can help you avoid filing for bankruptcy. Learn about available installment agreement options.
Offers in Compromise Enable Taxpayers to Settle Tax Debt for Less than They Owe
Offers in Compromise (OICs) may be a legitimate option if a taxpayer cannot pay their full tax liability, or doing so creates a financial hardship. Learn about OIC types and why you need an experienced tax professional if you’re considering applying for one.