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Questions Answered by Brian Aho
2 Answers | Asked in Bankruptcy, Business Law and Tax Law for Tennessee on
Q: Should I file my business taxes as a Partnership or as a Corporation, if i plan to file bankruptcy?

The business is listed as a 2-member LLC. I do not want the other member to be negatively affected by my bankruptcy.

Brian Aho
Brian Aho answered on Mar 26, 2020

The issue that affects your business partner is whether the bankruptcy trustee will want your interest in the business. That depends on the value of the business versus any exemption that might apply. You need to file your taxes based on what you elected at the time of formation or prior to... Read more »

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2 Answers | Asked in Bankruptcy for Florida on
Q: In a chap 13, payments doubled in 14 months. Now motion to dismiss delinquent interim payment. 21 day to cure. Now what?

Every 3 months plan increased. Asked attorney about catching up prior payments was told they will spread delinquent amount over next 45 months payment. Now motion to dismiss in 21 days if don't pay 7450. Do not have money and cannot get in 21 days or even 60 days. We made all payments on time... Read more »

Brian Aho
Brian Aho answered on Mar 26, 2020

You should discuss with your attorney the possibility of making a payment now that brings you one month behind. The trustee should continue the hearing on the motion to dismiss if you are within one month of caught up. You also should discuss amending your plan to make it affordable going... Read more »

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