Bankruptcy Options

Bankruptcy Can Be The Beginning of Your Financial Restoration!
If you are contemplating filing for bankruptcy to wipe out tax debt, interest and penalties, have a professional thoroughly review your situation prior to filing. In some cases, filing for bankruptcy will leave you with the clean slate necessary to start over. If you don’t qualify to eliminate tax debt through bankruptcy, however, you may find that when all is said and done, you still have a massive tax liability left to deal with.

As you may be aware, there are different types of bankruptcy that you can file for. Each one has a different purpose, outcome, and long-term effect. Determining which type of bankruptcy will be the best for your situation (if any) demands a close examination of your financial situation, assets, debts, and history from every angle. The opportunity of a second chance that bankruptcy offers could be just what you need, but you need to make sure that you have the best chance of success and nothing comes back to haunt you.

Contact us for pre-bankruptcy counseling to help you determine if bankruptcy is the best answer for you.

Before Filing for Bankruptcy, let us review your options with you.

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Godwin Obimah’s Pro Tips to Negotiate with the IRS

With the tax deadline firmly in the rearview, most Charlotte people are enjoying pool time and picnics, free of the tax worries of springtime. (Though perhaps not free of all the inflation and stock market pressures we’re all currently facing. Hang in there.)But...

Alleviating Cash Flow Management Pains for Charlotte Businesses

[1] Because we’re talking cash flow management today… with a recession looming on the horizon and the effects of inflation being felt so hard in everyday life, it’s difficult not to freak out over what lies ahead for your Charlotte small...

Why Should Charlotte Businesses Care About FASB and GAAP?

 Yes, inflation isn't slowing down, even here in Charlotte.Though it's not the main thing I'll be writing about today, I did want to point out this economic elephant in the room for my Mecklenburg County business owner readers and clients, and not just speed...

An Accounting Methods Rundown for Charlotte Businesses

Before I get into accounting methods basics today (a subject near to my heart) ... I hope you were able to get in on some Memorial Day activities this past weekend (though I know some Charlotte business owners are in the thick of things during this commemorative...

Making the Most of Your Charlotte Business’s P/L Statement

In the arena of not-so-good news, along with so many other things these days, it looks like IRS interest rates have gone up for Quarter 3. Inflationary insults to injury for Charlotte business owners.These days are getting tougher. Hang in there.Now … the one...

Tax Debt Options for Charlotte Owers

For the majority of Americans, tax season is done and gone. The return has been filed, the refund received, and all the paperwork tucked away securely in cloud storage.But for several million people each year including some Charlotte taxpayers, the annual dance with...

Allied Tax & Accounting Consultants, LLC’s Guide to the Profit and Loss Statement

As a small business owner, you’re often preoccupied with all the things that go into running your Charlotte business – the daily logistics, managing employee workflow, paying the bills, bringing in more customers… making a profit. Let’s focus on that last one,...

Three Financial Statements Charlotte SMBs Need To Get Right

If you’re a successful Charlotte business owner in this high-pressure time, you’ve learned to master the art of the pivot. Pivot on pricing, pivot on operations, pivot on hiring, pivot on supply, pivot on financials... Successfully pulling it off is...

How Charlotte Businesses Can Stay on Top of Payroll Taxes

We all have to pay our fair share of taxes. It’s a reality we just can’t escape. But sometimes people try. Missed deadlines or membership in the payment avoidance club are not helpful ways to deal with mounting tax debt. Eventually, we all have to face the music,...

Allied Tax & Accounting Consultants, LLC on Back Taxes & Dealing with the IRS

When you owe back taxes to the IRS, they suddenly become very interested in your personal financial affairs.They’re going to start poking their nose into things that you’ve never seen the IRS be interested in, such as your:Housing costsCar payment, gas, and...

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