Self employed-showing income for BK and filing taxes??
Date: Tue, 10/07/2008 - 13:47
Okay guys being small time self employed, when I am getting my info together to show my BK attorney, I have read that you want to show as little "disposable income" as truthfully as you can. Does the income that you show on BK papers in any way meet up somewhere down the road with the income that you file on your income taxes?
You do have to provide copies of your tax returns (we had to pro
You do have to provide copies of your tax returns (we had to provide them for the past four years). However, since the means test is based on your income for the past six months, you won't have filed a tax return on that income yet. I seriously doubt that the income you report for your BK will ever be compared to future tax returns, and our attorney certainly didn't give any indication of that. However, the trustee can request copies of your bank statements, so I would suggest that you don't under-report anything that would show on those. Our trustee was really easy and didn't request copies of anything extra, but I hear that some of the trustees aren't that easy.
