Houston tax attorney by dovebankruptcylaw.com today? A judgment is a document signed by the judge stating whether the Defendant owes any money to the Plaintiff and if so, how much. A judgment is the end of a lawsuit. It is then up to the creditor (assuming the judgment is in favor of the creditor) and the creditor’s lawyers to try to collect on the judgment. The most common methods of collection for a debt lawsuit in Houston are as follows (note – this is not a complete list): Bank Garnishment – A creditor has the right to garnish any bank accounts that the judgment Debtor’s name is on. In special situations there are legal defenses to stop a bank account garnishment, but these rights must be asserted.
When is the IRS likely to agree to an Offer In Compromise? The two main reasons the IRS will agree to an OIC are if there is doubt as to collectability (you do not have enough income or assets to pay the tax debt in full) or that collection of the full tax would create an economic hardship, would be unfair or would be inequitable. The IRS even has an online tool to help determine if you may qualify for an OIC to settle your back tax debt. There is a mathematical calculation that must be performed that involves the net value of your assets and your net monthly income. See even more details on top houston tax attorneys. I hope that you find this website to be helpful and informative. Information on a website, however, is not a substitute for the knowledge and advice of an experienced bankruptcy attorney. Once you have had a chance to look over our website, please fill out the contact form or give us a call to talk more about the specifics of your situation. I will get back to you the same business day, if possible. Take your first step towards a fresh financial start! I think that customer help should be the no 1 priority in any business, but it is especially important in the bankruptcy and debt settlement field. When people are struggling financially they may be stressed, nervous and scared about their situation. The prompt returning of telephone calls and e-mails is important so as to help alleviate anxiety. You can also take comfort in knowing that you will be speaking with an attorney every time you call or come in for an appointment. Dove Law Firm, PLLC is a Debt Relief Agency. We help people file for bankruptcy relief under the Bankruptcy Code as well as resolve other debt issues.
Who Should File Chapter 13 Bankruptcy? Many people think of bankruptcy court as the final stop on a path to financial ruin, the only option left when repaying debts seems impossible. But there’s hope even in bankruptcy, and Chapter 13 of the federal bankruptcy code offers the closest thing to a soft landing. Sometimes called the Wage Earner’s Bankruptcy, Chapter 13 allows those with enough income to repay all or part of their debts an alternative to liquidation. It’s bankruptcy for those whose biggest problem is dealing with creditors’ demands for immediate payment, not lack of income.
Meet With Your Tax Advisor: November is a good month to meet with a tax advisor, Powell says. They have finished their October tax filings and may have time in their schedule before the busy tax season starts after the first of the year. “If you sit down and do some math between now and the end of the year, you can make sure you are in a favorable tax bracket,” Barlin says. An advisor can help pinpoint strategies to reduce taxable income through retirement contributions or itemized deductions. That, in turn, may be key to ensuring households remain eligible for some income-based tax incentives such as student loan interest deductions. If you don’t regularly use a tax professional, Barlin says running numbers through tax software can be just as beneficial.
Moving expense to take first job: Here’s an interesting dichotomy: Job-hunting expenses incurred while looking for your first job are not deductible, but moving expenses to get to that first job are. And you get this write-off even if you don’t itemize. If you moved more than 50 miles, you can deduct 23 cents per mile of the cost of getting yourself and your household goods to the new area, (plus parking fees and tolls) for driving your own vehicle. However, beginning in 2018, moving expenses are no longer deductible for federal taxes unless you are in the military and the move is due to military orders. Some states such as California continue to provide this tax benefit. Find more details at https://dovebankruptcylaw.com/.
Your creditor could also object and keep certain debts from getting discharged. For example, a credit card company could object to the debt from recent luxury goods purchases or cash advances, and the court may decide you still need to repay this portion of the credit card’s balance. Additionally, a Chapter 7 bankruptcy may discharge the debt you owe on secured loans. Secured loans are those backed by collateral, such as your home for a mortgage, or when a creditor has a lien on your property. However, even if the debt is discharged, the creditor may still have the right to foreclose on or repossess your property.