Tag Archives: BankruptcyAttorney

Could the Coronavirus Pandemic Lead to More Bankruptcies?

Life is changing for billions of people across the globe as coronavirus (SARS-CoV-2) continues to spread. Here in the United States, there is uncertainty over how a possible shutdown could affect businesses and consumers. In Italy, where authorities are testing thousands of cases each day, most businesses are shut down. An “Italy-style shutdown” is underway in parts of the United States. California recently ordered its residents to stay indoors, with some exceptions. Depending on how the crisis unfolds, recent events could spark numerous personal and business bankruptcies. How Could the Coronavirus Pandemic Affect Families and Individuals? Medical debt is a factor in some bankruptcy cases. For people with chronic health conditions, or those who suffer a serious injury, they could face unaffordable medical bills. People in this situation are likely to have problems paying their other debts. The same could be true by the time the dust settles on the…
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6 Smart Ways to Spend Your Tax Refund in 2020

Tax season is nothing to be afraid of for some people. Although some of us may owe the IRS money this year, others may receive funds from a tax refund. Depending on the amount you receive, there could be multiple ways to spend your tax refund to bolster your finances. Tax refunds of over $1,000 are especially helpful, as you could use this extra money for multiple purposes. Consider the following actions if you receive a tax refund this year. Set Up a Savings AccountSave for Health ExpensesSave for CollegePay Off DebtsSave for RetirementInvest in Your Career 1. Set Up a Savings Account Life may decide to give you lemons at any moment. Job loss, illness, a death in the family, an injury, or a demotion are all reasons why you could suddenly need access to money. Unfortunately, 59 percent of Americans cannot cover a $1,000 emergency. Be like the…
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3 Helpful Tips for Filing Your Taxes in 2020

Tax season is quickly approaching, which may not be the most exciting news. We all hope for a quick and painless tax season, and perhaps a substantial refund, this time of year. Fortunately, there are ways of making the filing process easier, and thus more enjoyable. Below we sketch out some top tips for filing taxes in 2020, along with information on how to handle bankruptcy and the IRS. Tips for Filing Your Taxes in 2020 1. Find a free filing service. There are now many free tax filing services available online. The IRS offers their Free File option on their official website. For those who make less than $69,000 a year, Free File offers name brand software for filing federal taxes. Those who make more can find an electronic alternative to the traditional paper tax forms. You can also use Free File to get an automatic six-month extension for…
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