Bankruptcy is a legal term that often induces fear and confusion in the minds of individuals and businesses struggling with mounting debts. It is essentially a legal recourse designed to provide those ...

On July 14, 2023, the IRS issued Technical Guide 3-10 for Disqualifying and Non-Exempt Activities – Trade or Business Activities – IRC Section 501(c)(3). The TG 3-10 discusses the “fragmentation” of ...

In a Chapter 7 bankruptcy, creditors can seize certain assets to repay the debts you owe. However, exceptions allow debtors to retain some of their assets (or at least part of the asset’s value).

Filing for Chapter 7 can wipe out your debt quickly, but some property may be on the line if it isn't protected.