Factors To Consider When Looking For Phoenix Bankruptcy Lawyers

English: Virginia bankruptcy attorney Robert W...
English: Virginia bankruptcy attorney Robert Weed discusses bankruptcy and foreclosures. (Photo credit: Wikipedia)

Phoenix Bankruptcy Lawyers

When you are no longer able to continue servicing your debts, and the only option seems to be bankruptcy, you need to find Phoenix bankruptcy lawyers who can help you file the necessary paperwork. Depending on your individual financial condition, you can apply for either the chapter 7 or 13 bankruptcy. If you are not sure about which chapter is best suited for your unique circumstance, be sure to ask a bankruptcy attorney for advice.

How Bankruptcy Can Help You

When the court declares you bankrupt, your creditors will not be able to come after you. The threatening emails and notices will stop. A bankruptcy can also help you prevent the bank from repossessing your home if your mortgage is in default. In the chapter 13, all creditors including mortgage companies and credit card firms are repaid according to the court approved repayment plan. As long as you continue making regular payments, you can own the house.

Effects of Bankruptcy

Lenders will report you to credit reference bureaus once you file bankruptcy. This will affect your credit score thereby preventing you from accessing cheap loans from lenders. A poor credit score will also prevent you from renting a house, leasing a car and many other things.

Before you start filling bankruptcy-related forms, you must speak to competent Phoenix bankruptcy lawyers like those working for Frutkin Law Firm or Thomas Law Office. These professionals can help you to make an informed decision.

Accounting For Your Business

What's in the bag? Business of Software 2010
What’s in the bag? Business of Software 2010 (Photo credit: betsyweber)

Running a small business can be one of the most time consuming and stressful experiences in life. It is important that you have book keeping services that are accurate and reliable in order to avoid financial problems in the future. However, there are thousands of business owners that deal with book keeping nightmares on an annual basis, this is something that you could protect yourself against. When you take advantage of the best free online accounting services, you would be able to keep all of your finances organized without having to worry about wasting money. This service will not subject you to an expensive monthly charge, you do not need to enter a credit card in order to sign up.

If you hope to become very successful with a small business, you will need to limit the amount of money that you are spending. However, many business owners spend a large amount of money on a regular basis in order to have all of their finances organized and taken care of. The solution to this would be a great free online accounting service that would provide you with a much better value. It is possible to save a large amount of time, effort and stress that you would be subjected to when dealing with financial problems. Instead of having to experience these problems, it would be wise to start using this program today for all of your financial needs. You would protect yourself against financial disasters while also saving money and with this great technology today.

Unemployment and Taxes

Unemployment is an uncertain and stressful thing in any one’s life.  However, it can be all the more complicated
by the many questions surrounding your tax obligations after losing your job.  This article will discuss a few of the common questions surrounding your tax obligations following unemployment.

If you were recently laid off by your place of employment, you may be curious as to whether or not the severance package they gave you is taxable or not.  Unfortunately, the answer to that question is yes, it most certainly is.  The money you received as a result of your termination is considered to be taxable income and will be included on your W-2 at the end of the year.  Other taxable income includes any payments you receive for unemployment insurance or other benefits you may receive while unemployed.  This includes an unemployment payment made by the government if you have filed for unemployment with your state.

Gifts from friends or family members during this difficult time are generally not taxable if they are kept under a specific amount of money.  Do some research on your state laws regarding the giving of gifts and taxes to make sure that each family member or friend that helps you out stays under the taxable amount.

As far as dipping into your retirement savings goes, if the money is simply coming from a savings or money market account, there is no penalty for withdrawals.  However, if you are planning on making a withdrawal from a different type of retirement plan or from an IRA account, you will have to pay taxes and a penalty if you are under the age of retirement.  These taxes, like the ones you will have to pay for your severance check, will be due at the time that you do your taxes for that year.  So, if you took out the money in November of 2011, you will have to pay the taxes on that money in April of 2012.

Following unemployment, you are probably diligently seeking another job as soon as possible.  It is important to note that the expenses incurred while looking for a new job can be written off as a tax deductable expense.  A financial planner or tax expert can help you with this process if you are unfamiliar on how to do it.

Finally, now that you have found out just how many things continue to be taxed following unemployment, you may be curious as to whether or not you can actually afford to pay what you owe to the IRS.  What is
you can’t?  A simple phone call to the IRS with an explanation of your situation should be able to remedy the problem.  The IRS wants its money and has payment plans that may be able to help you meet your tax obligations.

Author’s Bio: Val Anne is an in-house writer from Franklin Debt Relief, a company specializing in programs for people with high credit card debt.

Tax Carnival Ecstasy – March 27, 2012

Welcome to the March 27, 2012 edition of Tax Carnival Ecstasy. We start this edition with Stefanie who has an article Tax Time, and how she is loving TurboTax while filing her own return. Mark Roberts takes a look at the The Tax Brackets for 2012. We  have a post on the Common Bookkeeping Mistakes That Weigh Down On Business Profits by Bill Smith. And finally there’s a look at the 2013 Federal Budge and how it affects your taxes. Hope you enjoy the articles, bookmark, share, tweet, like on Facebook and come back soon.

Frank Goley presents Bond Analysis posted at Easy Forex News.

Amy Gardner presents What is a Personal Loan? | Personal Loans posted at Personal Loans, saying, “none

credits

Amy Gardner presents Little Known Advice for Those Seeking a Personal Loan posted at Small Business Credit Cards, saying, “none

Deborah Brown presents Credit Options for Your First Credit Card | First Credit Card | How to build credit with first time credit cards. posted at First Credit Card, saying, “none

Sandra Adams presents Improving Your Credit Score posted at Credit Cards for No Credit, saying, “none

filing

Stefanie presents Tax Time | Making of a Mom posted at Making of a Mom, saying, “I love tax time because TurboTax makes it possible for normal people (not tax professionals) to complete their own taxes!”

Mark Roberts presents The Tax Brackets for 2012 posted at Tax Brackets, saying, “The tax brackets for 2012 have been announced. This post highlights the new brackets for 2012.”

retirement

David K presents Baby Boomers are you Worried about having enough saved for retirement? posted at Personal Finance Blog, saying, “Here’s a simple approach: work just a few years longer. By accumulating more savings and shortening your withdrawal period, you’ll reduce the lump sum needed to generate the necessary income at retirement.”

Dividend Growth Investor presents Does entry price matter to dividend investors? posted at Dividend Growth Investor, saying, “The reason for the lost decade in stocks is that many otherwise quality companies were overvalued in the early 2000s. For example Johnson & Johnson (JNJ) was trading at 29.30 times earnings in early 2000, whereas McDonald’s (MCD) traded at 26.90 times earnings. Even some of the best dividend stocks are not worth paying more than 20 times forward earnings.”

taxes

Bill Smith presents Common Bookkeeping Mistakes That Weigh Down On Business Profits posted at 2009 Tax, saying, “Bookkeeping serves as a foundation for sound financial decision making and planning and therefore it is essential that financial records are kept up-to-date.”

Bill Smith presents 2012 Taxes And The Proposed 2013 Budget posted at2011 Taxes, saying, “President Obama has plans to make changes in the tax code to raise funds for his 2013 budget to jump start the U.S. hiring.”

Bill Smith presents Proposed Changes From 2012 Taxes posted at2010Taxes, saying, “The current administration’s proposed budget for 2013 includes some items from 2012 taxes with a wish list of ideas added.”

Bill Smith presents 2012 Taxes And The Proposed Tax Rates posted at 2011 Taxes, saying, “President Obama is planning to tax income from capital gains as ordinary income. This will increase the top tax rate to 39.6 percent.”

CultOfMoney presents How government budgets work posted at CultOfMoney, saying, “Whether you’re trying to get a sweet-ass government job, planning to run for office, want to know how you can influence the process to your favor, or you’re just a concerned citizen, knowing how the federal state, county, and cities create a government budget, and knowing how government budgets work in general will help you. So become involved and go to a local budget hearing, and after reading this article, you’ll sound like someone in the know whose opinions should be respected.”

tips

DeWitt Dudley presents What Are The Best Trust Structures To Protect Liquid Assets? | Law Offices of Givner & Kaye posted at Law Offices of Givner & Kaye, saying, “Why is the non-U.S. trust so effective? Because the both the trust and the assets are not subject to the jurisdiction of a judge in the United States.”

Sean presents Student Car Loans posted at My Next College, saying, “Students still must have adequate income to afford the payment and insurance.”

That concludes this edition. Submit your blog article to the next edition of tax carnival ecstasy using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

 

Technorati tags: tax carnival ecstasy, blog carnival.

Tax Carnival Ecstasy – February 28, 2012

Welcome to the February 28, 2012 edition of Tax Carnival Ecstasy. In this edition we have Stefanie taking a look at Tax Time and preparing your taxes with TurboTax. Bill Smith writes about Common Bookkeeping Mistakes That might Weigh Down your Business Profits. We have an explanation of How government budgets work or don’t work by CultOfMoney. And finally Charles Chua C K wants to know if you Are Ready For a Tax Audit? Hope you enjoy the articles, bookmark, share, tweet, like on Facebook and come back soon.

Frank Goley presents Bond Analysis posted at Easy Forex News. 

credits

Beth Montgomery presents Find Your True Credit Card Cost posted at Credit Cards for Fair Credit, saying, “none

Amy Gardner presents Little Known Advice for Those Seeking a Personal Loan posted at Small Business Credit Cards, saying, “none

Deborah Brown presents Credit Options for Your First Credit Card | First Credit Card | How to build credit with first time credit cards. posted at First Credit Card, saying, “none

Sandra Adams presents Improving Your Credit Score posted atCredit Cards for No Credit, saying, “none

 

filing

Stefanie presents Tax Time | Making of a Mom posted at Making of a Mom, saying, “I love tax time because TurboTax makes it possible for normal people (not tax professionals) to complete their own taxes!”

 

retirement

Juliet Jones presents 10 Successful Businesses That Were Started in Retirement posted at Business Insurance, saying, “According to the Small Business Administration, 20% of the country’s 2012 workforce is 55 or older, and the Federal Department of Labor estimates that percentage will continue to rise.”

David K presents Baby Boomers are you Worried about having enough saved for retirement? posted at Personal Finance Blog, saying, “Here’s a simple approach: work just a few years longer. By accumulating more savings and shortening your withdrawal period, you’ll reduce the lump sum needed to generate the necessary income at retirement.”

Dividend Growth Investor presents Does entry price matter to dividend investors? posted at Dividend Growth Investor, saying, “The reason for the lost decade in stocks is that many otherwise quality companies were overvalued in the early 2000s. For example Johnson & Johnson (JNJ) was trading at 29.30 times earnings in early 2000, whereas McDonald’s (MCD) traded at 26.90 times earnings. Even some of the best dividend stocks are not worth paying more than 20 times forward earnings.”

taxes

Bill Smith presents Common Bookkeeping Mistakes That Weigh Down On Business Profits posted at 2009 Tax, saying, “Bookkeeping serves as a foundation for sound financial decision making and planning and therefore it is essential that financial records are kept up-to-date.”

Bill Smith presents 2012 Taxes And The Proposed 2013 Budget posted at 2011 Taxes, saying, “President Obama has plans to make changes in the tax code to raise funds for his 2013 budget to jump start the U.S. hiring.”

Bill Smith presents Proposed Changes From 2012 Taxes posted at 2010Taxes, saying, “The current administration’s proposed budget for 2013 includes some items from 2012 taxes with a wish list of ideas added.”

Bill Smith presents 2012 Taxes And The Proposed Tax Rates posted at 2011 Taxes, saying, “President Obama is planning to tax income from capital gains as ordinary income. This will increase the top tax rate to 39.6 percent.”

CultOfMoney presents How government budgets work posted at CultOfMoney, saying, “Whether you’re trying to get a sweet-ass government job, planning to run for office, want to know how you can influence the process to your favor, or you’re just a concerned citizen, knowing how the federal state, county, and cities create a government budget, and knowing how government budgets work in general will help you. So become involved and go to a local budget hearing, and after reading this article, you’ll sound like someone in the know whose opinions should be respected.”

Charles Chua C K presents Are You Ready For a Tax Audit? posted at All About Living with Life. 

tips

DeWitt Dudley presents The Top Five Asset Protection Strategies For The Owners Of A Closely Held Business | Law Offices of Givner & Kaye posted at Law Offices of Givner & Kaye, saying, “The owners of a closely held business that is operated as an “S” corporation may be the targets of lawsuits that will drain their insurance policies, that may even exceed the limits of their insurance policies and that may cause them sleepless nights. What steps should these business owners take so that if something goes wrong, they will not lose all or most of the assets that they have worked so long to accumulate?”

That concludes this edition. Submit your blog article to the next edition of tax carnival ecstasy using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.


Technorati tags:

tax carnival ecstasy, blog carnival.