Blog Posts in February, 2011
Posted on Feb 26, 2011 By Jeffrey Angres
A short sale is the sale of real estate for less than the balance owed on the mortgage on property. Short sales are common in today's real estate market, where home prices have fallen and the home ...
Continue reading "SHORT SALE TAX CONSEQUENCES" »
Posted on Feb 24, 2011 By Jeffrey Angres
Consider the following example: Tom and Becky Sawyer get a divorce. They have no children and Tom and Becky each have identical incomes (Tom is an aspiring riverboat captain and Becky owns a ...
Continue reading "DISCHARGING FAMILY DEBT IN BANKRUPTCY" »
Posted on Feb 22, 2011 By Jeffrey Angres
Most businesses are formed as legal entities separate from its individual owner(s). Microsoft, for instance, is not the same as Bill Gates. Corporations, LLCs and the like are recognized as operating ...
Continue reading "HOW CHAPTER 7 AFFECTS SOLE PROPRIETORS" »
Posted on Feb 18, 2011 By Jeffrey Angres
The Bankruptcy Code is a set of federal laws first enacted by Congress in 1979. The Bankruptcy Code is divided into chapters that provide specific legal protection for debtors experiencing serious ...
Continue reading "WHAT IS CHAPTER 7 BANKRUPTCY?" »
Posted on Feb 16, 2011 By Jeffrey Angres
The Washington Times reports that this year's White House budget projects that the national debt will top $15 trillion in 2011, equaling the size of the entire U.S. economy. By the end of the fiscal ...
Continue reading "WHEN YOUR PERSONAL DEBT MIRRORS OUR NATIONAL DEBT" »
Posted on Feb 14, 2011 By Jeffrey Angres
Five U.S. Presidents Who Lost it All In February we celebrate President's Day, so now is a good time to reflect on some of the financial hardships a few of our Presidents endured and overcame. For ...
Continue reading "Five U.S. Presidents Who Lost it All" »