Filing a business bankruptcy does not automatically erase all of your tax debt. But there are some taxes that can be discharged or at the very least minimized through bankruptcy protection. What are the circumstances for discharging taxes through bankruptcy? In most...
If you've recently declared bankruptcy due to financial trouble, the last thing on your mind is probably obtaining a new line of credit. However, there may be some scenarios in which emergencies arise while your business is going through bankruptcy. Depending on your...
More and more businesses are feeling the pinch of high inflation, supply chain issues and the aftermath of a pandemic. The landscape of business as we knew it in the past has changed, leaving some businesses struggling to stay afloat. Many business owners are looking...
Starting your own business and managing it on your own terms can be an exciting, rewarding endeavor, but there's always the risk that one day, you may have to deal with the serious matter of bankruptcy. If that day comes, you don't want to be caught unprepared when...
If your LLC fails, you may choose to file for bankruptcy. While this offers some level of protection, an LLC bankruptcy filing only protects personal assets against creditors, meaning business assets are not immune to liability. It's important to understand which...
In Florida, an LLC or partnership can be forced to dissolve or reorganize if one partner files for bankruptcy. However, the court will work with the remaining partner to ensure that the business continues to run smoothly while the bankrupt partner works their way out...
Chapter 7 bankruptcy is a way for many businesses to get a "fresh start," but your plan can be dismissed by the court if the reason behind your filing doesn't meet the standards set forth by the courts. It's important to know what can cause your chapter 7 bankruptcy...
Business owners are currently dealing with 40-year high inflation rates. Combined with the pandemic, this has caused consumers to restructure the way they purchase, moving away from brick-and-mortar businesses to those offering online goods and services. People are...
Running your own small to medium-sized business is no easy task. Success is a matter of attracting a dedicated customer base while navigating state and local laws. Being an entrepreneur means embracing these complexities while finding ways to remain solvent no matter...
Economically difficult times can lead to dwindling liquidity, potential covenant breaches and near-term maturities. Business managers may consider reorganization under chapter 11 bankruptcy over termination under chapter 7 bankruptcy. Chapter 11 bankruptcy has a few...
