Bankruptcy Options

Bankruptcy Can Be The Beginning of Your Financial Restoration!

If you are contemplating filing for bankruptcy to wipe out tax debt, interest and penalties, have a professional thoroughly review your situation prior to filing. In some cases, filing for bankruptcy will leave you with the clean slate necessary to start over. If you don’t qualify to eliminate tax debt through bankruptcy, however, you may find that when all is said and done, you still have a massive tax liability left to deal with.

As you may be aware, there are different types of bankruptcy that you can file for. Each one has a different purpose, outcome, and long-term effect. Determining which type of bankruptcy will be the best for your situation (if any) demands a close examination of your financial situation, assets, debts, and history from every angle. The opportunity of a second chance that bankruptcy offers could be just what you need, but you need to make sure that you have the best chance of success and nothing comes back to haunt you.

Before Filing for Bankruptcy, let us review your options with you.

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What Is A Notice Of Federal Tax Lien, And Can It Cost Connecticut Taxpayers Their Jobs?

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How Long Can Employers Keep Employee Records? A Record Retention Guide for Connecticut Small Business Owners

Key TakeawaysHow long you keep a document depends on what it is, which law applies, and sometimes your state’s rules as well. A practical baseline is to keep general personnel records for at least two years, payroll tax records at least four years, benefits...

Can My Tax Refund Be Garnished? Answers from a Trusted Connecticut Tax Pro

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~Contact.FirstName~, Emelia Mensa, CPA here, from Emelia Mensa, CPA. You know me already for fixing your IRS problems, and that’s usually what I’m emailing or calling you about. But don’t worry – this isn’t a notice about some new letter or demand...

Help For Connecticut Taxpayers: I Haven’t Filed Taxes In Years, What Do I Do?

Key TakeawaysIf you haven’t filed in years, penalties and interest continue to build, and the IRS may eventually file a return for you using the income information they have. Getting back into good standing means filing the last six years of returns, though...

How to Choose Payroll Software for Your Connecticut Small Business

Key TakeawaysThe best payroll software for a small business is the one that fits your worker mix, pay schedules, compliance needs, and how you expect the business to grow. At a minimum, your payroll system should automate calculations, support direct...

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