Jeffrey M. Rosenblum, P.C.
A Fresh Start

September 2013 Archives

Things to consider for those facing financial challenges

Many people are the only earners for their families. When they are struck with a debilitating illness or injury, they are likely to fall victim to financial challenges because of the health care costs and possible loss of income. The cost of medication, therapy and treatment can chew up a family's finances very quickly, squeezing out mortgage payments, food budgets and tuition payments. When the earner's recovery is prolonged, medical bills can eat up a family's short-term savings and put them under a mountain of debt.

Three financial mistakes that can lead to overwhelming debt

Most advice about personal finance problems is simple and easy to understand, but following the advice is often much easier said than done. Acquiring debt can take place either quickly or gradually over time, and the accumulated amount can wreck a person's financial future. Very often, people commit the same, common mistakes, and here are three that must be avoided.

Restaurant owner files for bankruptcy in New York

On Long Island, New York food is a very profitable necessity. Many locals have made a living out of business ventures like restaurants and other eateries. However, the food industry has a weakness; the country's economic state can greatly affect a restaurant's profitable potential. This is evident in the number of restaurant owners who have encountered financial challenges since the country's economic crisis in previous years.

How to curb debt caused by medical expenses

Quality health care often comes with an expensive price tag, its high cost affecting everyone. In most cases, a person may get sick perhaps once or twice a year. However, because illnesses can be unpredictable and require prolonged hospital stays, people have no choice but to watch their medical expenses pile up, and they find themselves struggling with debt. This is true across the United States, including in New York.

Treasury and IRS Announce That All Legal Same-Sex Marriages Will Be Recognized For Federal Tax Purposes; Ruling Provides Certainty, Benefits and Protections Under Federal Tax Law for Same-Sex Married Couples

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) today ruled that same-sex couples, legally married in jurisdictions that recognize their marriages, will be treated as married for federal tax purposes. The ruling applies regardless of whether the couple lives in a jurisdiction that recognizes same-sex marriage or a jurisdiction that does not recognize same-sex marriage.The ruling implements federal tax aspects of the June 26 Supreme Court decision invalidating a key provision of the 1996 Defense of Marriage Act.