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Can I Wipe Out Tax Debt In A Bankruptcy Proceeding?

Ask ten people a person can discharge tax debts in bankruptcy and can get ten different responds. The correct answer may be you can, but only if certain tests are met up.Getting to be able to the decision of which legal entity to choose, let's take each one separately. The commonest form of legal entity is this provider. There are two basic forms, C Corp and S Corp. A C Corp pays tax according to its profit for the year and then any dividends paid to shareholders can also taxed. Hence the term double-taxation. An S Corp however works differently.…

by bettinaricardo
September 20, 2024
1
blog

Can I Wipe Out Tax Debt In A Bankruptcy Proceeding?

Ask ten people a person can discharge tax debts in bankruptcy and can get ten different responds. The correct answer may be you can, but only if certain tests are met up.Getting to be able to the decision of which legal entity to choose, let's take each one separately. The commonest form of legal entity is this provider. There are two basic forms, C Corp and S Corp. A C Corp pays tax according to its profit for the year and then any dividends paid to shareholders can also taxed. Hence the term double-taxation. An S Corp however works differently.…

by bettinaricardo
September 20, 2024
1

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