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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...
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...
Almost every consumer bankruptcy case has a bankruptcy trustee or an administrator with different roles and obligations. The court usually appoints the trustee, who plays a significant role in overseeing the debtor's bankruptcy estate in a bankruptcy case. According...
A variety of factors may lead a company to consider filing bankruptcy. A business concept might not have taken off or thrived as well as initially expected. A company may have experienced a recent downturn in business due to changes in the market. There may also be a...
Going through bankruptcy as a business owner can generate feelings of uncertainty regarding the future. What's more, that worry is compounded when questions arise regarding your personal assets and financial situation. One of those concerns is whether or not your...
It’s no secret that energy costs are skyrocketing. Your business is in a slump, but the balance on the utility bills just keeps getting higher. As it gets clearer that you’re probably not going to be able to keep your business going unless you file for a Chapter 11...
When a business declares bankruptcy, it can be scary for the owners. All of their hard work has gone down the drain, and they may not know what will happen next. One of the biggest questions on people's minds is what happens to their personal assets? Will they lose...
Companies don’t always produce the income they need to cover the bills. While this is just a normal part of business, it can be problematic if it occurs over a prolonged period. The business owner may soon realize that they’re going to have to do something to take...
You’re a conscientious employer and have been for years. You pay a fair wage and ensure a comfortable working environment. In return, your employees work hard for you. Through no fault of your own, your company is struggling financially. You’ve had to adapt, make...
When you think of a business that is restructuring for a better financial outcome, do you imagine a large corporation? Maybe you think about a business with 500 employees or a massive factory that produces many of the products people use today. While Chapter 11...