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answered on May 26, 2011
First you'll need to figure out how you want to run the business, what sort of activities and industries are involved in the business endeavor, and whether the investment is in cash, labor, or assets. Business licensing and tax issues may influence the contours of the enterprise.
Given... View More
answered on May 26, 2011
Under the 2005 amendments to the bankruptcy code, a person can't obtain a bankruptcy discharge within eight years of their last bankruptcy discharge. A Ch. 13 can be filed, or a Ch 7 case can be converted to a Ch. 13, if the plan payments will conclude outside the eight year window between... View More
answered on May 23, 2011
No - subject to a very narrow personal use exception.
You generally can't take tobacco products across state lines for resale without paying federal & state excise taxes. See http://www.ttb.gov/tobacco/tobacco-faqs.shtml#t1 .
There are some exemptions for deminimis personal... View More
answered on May 6, 2011
It depends on what you are doing under the contract. manufacturing, GC, specialty trade or if the contract is under an unrestricted set-aside. Here is a link to the referenced clause:http://farsite.hill.af.mil/reghtml/regs/far2afmcfars/fardfars/far/52_215.htm#P1432_255794
The above... View More
answered on May 6, 2011
It can be exceedingly stressful to manage these things yourself but the IRS has some helpful videos and pamphlets about the process that you may want to review before selecting a professional or trying to work this out on your own. Here is a link to the IRS videos that may be on point:... View More
answered on May 6, 2011
See http://www.uscourts.gov/FederalCourts/Bankruptcy/BankruptcyBasics/Discha...
The above information is not intended as legal advice but is intended solely for discussion purposes.
answered on May 6, 2011
The bankruptcy code is fairly complex and generally most people recommend against filing without a lawyer. Wisconsin has some alternatives that are available in state courts to deal with unsecured creditors through Wis. Stat. Ch. 128. The uscourts has some informative videos about the bankruptcy... View More
answered on Jan 24, 2011
It isn't always in the same spot depending on the age of last transaction. You may want to check here:
http://slf-web.state.wy.us/
answered on Jan 24, 2011
Normally an action for partition can only be filed by an owner of an interest in real property. You should consult with an attorney licensed in your jurisdiction to determine whether the lease creates an interest in land for the operator. In order to answer your question your attorney will likely... View More
Exhausted all funds trying to keep up with debt. Could no longer pay. I am disabled and only get small monthly SSDI income. I'm trying for gov't home mod. for my mtgs. Now creditors filing law suits. I have no funds to pay for a bankruptcy lawyer. Need to know if there is anything I can do.
answered on Jan 24, 2011
There may be a pro bono organization resource that may help you: Check http://probono.abiworld.org/
The above information is for discussion purposes only and should not be construed as legal advice.
Good luck
www.ruskcountylaw.com
answered on Jan 24, 2011
You really should talk with an attorney and review the sales tax statutes, rules, and administrative interpretations pertinent to items that become fixtures to real property.
Normally state sales tax is collected at the retail level. Consequently, once a sale is made to the end consumer by... View More
Have been accepted into IRS amnesty program but penalty is 20% of total assets while my tax liability is very small. Am considering opting out and pleading ignorance of statute, thus negligence. Is this wise?
answered on Jan 24, 2011
The Hiring Incentives to Restore Employment Act ("HIRE Act") requires additional reporting for U.S. persons and U.S. entities that have an interest in a specified foreign financial asset if the aggregate value of all such assets exceeds $50,000. If you own directly (or indirectly have... View More
answered on Dec 6, 2010
Generally a judgment creditor can issue a garnishment notice to a bank in the county where the lien is filed. If you only have exempt property in the account you can block the garnishment of exempt property but you need to be proactive. If a creditor knowingly garnishes property it knows is... View More
I had a real estate business which was dissolved by the state. I had a business loan of $ 100,000 I filled for bankruptcy as a person and my debt was discharged. I still receive letters from the bank and from attorneys. Should I fill for bankruptcy or should I just apply for a voluntary dissolution... View More
answered on Dec 6, 2010
You probably want to talk to the attorney that help with the bk petition. Likely there is a security agreement in place. If these are unsecured prepetition contingent claims they were discharged by the bk provided that the creditors had notice of the discharge and their claims were scheduled.
answered on Dec 6, 2010
For federal income tax purposes - generally compensation for physical injury (noneconomic damages)to a person is not taxable. However, economic damage awards and punitive awards are subject to federal tax. www.wisconsinbankruptcy.mobi
answered on Nov 17, 2010
This simply means the date on which a minor can legally be bound under a contract (other than a contract of necessity - like medical services). Generally that is age 18. Please let me know if I can be of further assistance. www.ruskcountylaw.com
(licensed in WI and IL)
answered on Nov 17, 2010
It's a state issue.*
For the Illinois statutory procedure see 625 ILCS 5/3?205 subsection c at http://tinyurl.com/3ae5mjk . Generally, a 'perfected' security interest in an IL vehicle title should be released within three weeks after the lienholder receives payment.
*... View More
answered on Oct 29, 2010
Check with an attorney admitted in your state. The National Association of Consumer Bankruptcy Attorneys (NACBA) has a useful lawyer finder. The bankruptcy code applies hierarchies against debtor assets.
Here it sounds like you 'may' have a claim. It's unclear if it is... View More
This is contingent as the debtor is the named plaintiff in a class action lawsuit that is pending.
answered on Oct 29, 2010
Check with an attorney admitted in Indiana. Exemption issues can get fairly complex.
The National Association of Consumer Bankruptcy Attorneys (NACBA) has a useful lawyer finder.
[There is exemption information for Indiana at the link below.
See... View More
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