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Shop for you Easing the Post-Holiday Blues: How Bankruptcy Can Provide a Fresh Start from Credit Card Debt Why is the IRS and State Pestering the Business I Own? Easing the Post-Holiday Blues: How Bankruptcy Can Provide a Fresh Start from Credit Card Debt the comfort of a range o

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clean slate. This process discharges eligible credit card debt, allev iati ng the burden that has been causing you sleepless nights. What sets Chapter 7 apart is its swift resolu tio n, offering a relati vely speedy way out of the never-ending 3. More Assets at Stake: The majority (85%) of those owing less than $25,000 in back taxes likely possess few, if any, substantial assets. On the contrary, business owners, even with significant back tax balances, usually have assets like homes, business tools, and accounts receivable. The IRS, in its pursuit of collections, prioritizes individuals with substantial assets that can potentially be liquidated to settle back tax balances. Especially as IRS enforcement escalates in 2024 and beyond, business owners employing a passive “hope they don’t catch me” strategy find themselves facing severe consequences. Taking proactive steps to address back tax issues is essential for those aiming to move forward without the looming threat of IRS intervention. If you find yourself entangled in back tax challenges, taking swift action is paramount. Both the IRS and the State can enter liens and judgments without taking you to court. Both the IRS and the State CAN shut your business down. Even closing a business may not help and several types of taxes impose personal liability even with the protection of an LLC or a C corporation. A free assessment call with us provides an opportunity to connect with a licensed tax professional who can assess your situation and recommend effective strategies for resolution. As the IRS continues to ramp up audits and target back tax issues, small business owners need to recognize the urgency of addressing these challenges. The proactive approach involves acknowledging the severity of the situation and seeking professional assistance to navigate the complexities of back tax resolution. Those who take decisive steps now can pave the way for a more secure financial future, as well as be able to focus more on their business to grow it, rather than the stress of dealing with back taxes. clean slate. This process discharges eligible credit card debt, allev iati ng the burden that has been causing you sleepless nights. What sets Chapter 7 apart is its swift resolu tio n, offering a relati vely speedy way out of the never-ending stress behind sooner. Chapter 13 Bankruptcy: For those seeking to retain their assets and embark on a journey to gradually sett le their debts, Chapter 13 provides a structured capacity. If the fear of losing your home or other valuable assets is causing you distress, Chapter 13 becomes a crucial tool, allowing you to catch up on payments and safeguard what matte rs most. Moreover, Chapter 13 empowers you to reimagine the narr ati ve of credit card debt by incorpor ati ng it into a manageable repayment plan, o ff ering a more op ti mis tic outlook on your How Bankruptcy Helps with Credit Card Debt: Experience immediate relief by hi tting the pause bu tt on on relentless creditor calls and collec ti on eff orts the moment you file for bankruptcy, thanks to the automa ti c stay in itiated by the process. Turn the page on credit card debt, providing a fresh start and the opportunity to begin a new chapter with peace of mind. Find breathing room through Chapter 13’s structured repayment plan, offe ring a method to gradually pay off debts without feeling su ffoc atedbymo unting interest. Whether you opt for Chapter 7 or Chapter 13, both avenues provide varying degrees of asset protectio n, ensuring you keep essentia l items and can move The after math of piling debt shouldn’t be a source of ongoing stress and worry. Bankruptcy provides a way out, a fresh start, and the chance As you face the dau nting credit card bills or medical bills, remember that you have options to ease the burden and pave the way for a more stress behind sooner. Chapter 13 Bankruptcy: For those seeking to retain their assets and embark on a journey to gradually sett le their debts, Chapter 13 provides a structured capacity. If the fear of losing your home or other valuable assets is causing you distress, Chapter 13 becomes a crucial tool, allowing you to catch up on payments and safeguard what matte rs most. Moreover, Chapter 13 empowers you to reimagine the narr ati ve of credit card debt by incorpor ati ng it into a manageable repayment plan, o ff ering a more op ti mis tic outlook on your How Bankruptcy Helps with Credit Card Debt: Experience immediate relief by hi tting the pause bu tt on on relentless creditor calls and collec ti on eff orts the moment you file for bankruptcy, thanks to the automa ti c stay in itiated by the process. Turn the page on credit card debt, providing a fresh start and the opportunity to begin a new chapter with peace of mind. Find breathing room through Chapter 13’s structured repayment plan, offe ring a method to gradually pay off debts without feeling su ffoc atedbymo unting interest. Whether you opt for Chapter 7 or Chapter 13, both avenues provide varying degrees of asset protectio n, ensuring you keep essentia l items and can move The after math of piling debt shouldn’t be a source of ongoing stress and worry. Bankruptcy provides a way out, a fresh start, and the chance As you face the dau nting credit card bills or medical bills, remember that you have options to ease the burden and pave the way for a more

As the holiday cheer fades away, the reality of credit card bills piling up can cast a shadow on our joyous memories. Many of us can relate to the rewarding experiences during the holidays, but the stress and worry that follow as credit card statements arrive are all too familiar for a person or family struggling to stay on top of their bills which were also often paid by mounting credit cards. Every year, the IRS relentlessly audits and pursues back taxes, and often, small business owners find themselves under the agency’s scrutiny. But why do business owners become prime targets for IRS enforcement? Let’s explore the key reasons behind this prioritization. 1.Enormous Back Tax Balances: A US Treasury study reveals a surprising fact – 85% of individuals owing back taxes are W-2 earners with debts less than $25,000. In stark contrast, a common scenario for business owners involves much larger outstanding balances, often exceeding $75,000. Despite earning well “on paper,” many business owners struggle to maintain the cash flow necessary to meet their tax obligations. The IRS, naturally, prioritizes the collection of these substantial amounts. The IRS also As the holiday cheer fades away, the reality of credit card bills piling up can cast a shadow on our joyous memories. Many of us can relate to the rewarding experiences during the holidays, but the stress and worry that follow as credit card statements arrive are all too familiar for a person or family struggling to stay on top of their bills which were also often paid by mounting credit cards. going up and medical illness again on the rise, good people are struggling fin ancially. If aftermath, it’s essential you explore solutions that can provide relief and pave the way for a family struggling with today’s economy can’t handle. One such option worth considering is bankruptcy – a path that can help you regain control and start anew like many other clients. going up and medical illness again on the rise, good people are struggling fin ancially. If aftermath, it’s essential you explore solutions that can provide relief and pave the way for a family struggling with today’s economy can’t handle. One such option worth considering is bankruptcy – a path that can help you regain control and start anew like many other clients.

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Before you dismiss it, Bankruptcy might sound like a s ti gma or a failure, but in reality, it’s a legal process designed to offer a fresh start to individualsfacingoverwhelmingdebt. Many famous people had to use this legal process to ul ti mately go on and become not only strong parents and family members but also successful scientists, inventors and business people who mak e society a better place. Let’s delve into two common types: Chapter 7 recognizes that most small business don’t accurately report cash and by conducting a cash audit can increase the liability by hundreds of thousands of dollars for its money till. 2. Unfiled Tax Returns Over Several Years: Disorganization often plagues business owners, leading to the neglect of filing tax returns. Unlike not paying taxes, the IRS considers not filing to be a serious offense. When a business owner, apparently successful on paper, fails to file taxes regularly, it attracts heightened scrutiny. The IRS views this neglect as a substantial violation, further intensifying the agency’s focus on these individuals. Before you dismiss it, Bankruptcy might sound like a s ti gma or a failure, but in reality, it’s a legal process designed to offer a fresh start to individualsfacingoverwhelmingdebt. Many famous people had to use this legal process to ul ti mately go on and become not only strong parents and family members but also successful scientists, inventors and business people who mak e society a better place. Let’s delve into two common types: Chapter 7 depending on y our situation. Chapter 7 Bankruptcy: If expenses have l eft you drowning in debt, Chapter 7, ofte n known as “liquida ti on bankruptcy,” can provide relief by offer ing a depending on y our situation. Chapter 7 Bankruptcy: If expenses have l eft you drowning in debt, Chapter 7, ofte n known as “liquida ti on bankruptcy,” can provide relief by offer ing a

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Shop for your next vehicle from the comfort of home! We provide a range of at-home services for a more convenient vehicle shopping experience.

Shop for your next vehicle from the comfort of home! We provide a range of at-home services for a more convenient vehicle shopping experience.

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Bankruptcy Tax Audit and Resolution Estate Planning and Wills Business Startup and Growth 17 Broad Street, Suite 3 Freehold, NJ 07728 Telephone: (732) 333-0681 Fax: (732) 333-0682

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www.haldemandirect.com | 833-878-7898 640 US Highway 130 And Hickory Corner Rd. East Windsor, NJ 08520

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www.haldemandirect.com | 833-878-7898 640 US Highway 130 And Hickory Corner Rd. East Windsor, NJ 08520