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Student loans and bankruptcy in New York

According to a study done by an attorney, 40 percent of holders of student loans were able to have those obligations discharged in bankruptcy court if they attempted to do so. Furthermore, although there are thousands of good candidates for…

SIMPLIED METHOD FOR HOME OFFICE DEDUCTION

“The Internal Revenue Service has reminded people with home-based businesses filling out their 2014 federal income tax returns that they can choose a simplified method for claiming the deduction for business use of a home. Introduced in tax year 2013,…

IRS ANNOUNCES INTEREST RATES REMAIN THE SAME

“The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning April 1, 2015. The rates will be: • three (3) percent for overpayments [two (2) percent in the case of a corporation];…

Using bankruptcy to handle tax debts

While filing for bankruptcy may result in a discharge of many different types of debt, tax obligations are only released under certain circumstances. For example, being freed from tax debts is typically more likely when the individual is filing for…

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