Bankruptcy

No Tax

Posted by admin on August 29, 2010 at 1:12 pm

Insolvency and Avoiding Tax on an Investment Property If you can prove insolvency at the point immediately before the short sale of your investment property you will have NO tax to pay. Insolvency is when your total debts exceed your total assets. 401ks and IRAs are assets even though they can not be touched either [...]

Short Sale or Bankruptcy

Posted by admin on August 29, 2010 at 12:24 pm

Why you should short sale your home even if your are filing Bankruptcy Chapter 7, 11 or 13 The way to determine if you should do a short sale while in bankruptcy is to ask yourself this one simple question; Even though my credit is g