Stating income for chapter 13?
Date: Thu, 09/18/2008 - 15:31
Thanks
We filed Chapter 7, but I would imagine that the information wou
We filed Chapter 7, but I would imagine that the information would be gathered in the same way . . .
I also had a spreadsheet which showed our gross self-employment receipts per month. It showed the business expenses per month (cost of goods sold, phone bills, insurance, etc.). Deducting the expenses from the gross receipts gave the net income amount. Based on that net income, I estimated the taxes that would be due, and that was recorded in the paperwork and deducted from the earnings (I don't remember the exact category; it might have been taxes or it might have been other business expenses or something like that).
We also had not paid any estimated taxes this year, but even though we hadn't paid them, we were allowed to count them as an expense (because obviously, like you, we know we WILL have to pay them).
My lawyer took after taxes, as its based on the money you have i
My lawyer took after taxes, as its based on the money you have in hand come payday.
That is what I was hoping you were going to say. Thanks so much.
That is what I was hoping you were going to say. Thanks so much.