Posts from ‘July, 2009’

What presidential candidate will address private equity firms buying out firms, debt-loading them & flipping?

http://www.businessweek.com/magazine/content/06_44/b4007001.htm
Three weeks after giant private-equity firm Thomas H. Lee Partners agreed to buy an 80% stake of Iowa Falls ethanol producer Hawkeye Holdings in May, Hawkeye filed registration papers with the Securities & Exchange Commission to go public. The buyout deal hadn’t even closed yet, but Thomas H. Lee was already looking forward to an [...]

IRS TAX FORM 1099-C After credit card debt settlement?

if i have settled a $1500 credit card debt directly with the bank for only $454.79, what is the purpose of having me fill out a IRS tax form 1099-c? and how will this negatively or positively affect my taxes and/or credit?
(i owed $1500, they said i could pay $454.79 and i will be forgiven [...]

Debt relief programs?

My husband and I just did a major construction project on our house to make room for our five month old. Because I don’t work, but now will have to a few nights a week to help out with finances, the increase of our mortgage to cover the construction, credit card bills, student loans [...]

Do you think the tax system needs to be changed or eliminated?

If so, explain how the federal debt would be paid?
id like to see taxes lower but more importantly a less expensive government. if they spent less theyd have more money to deal with debt.

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Debts on ICE: Helping you to manage your Debt

Debts on ICE help clients manage their Debts. We can help with your Debts such as Credit Cards, Loans and Overdrafts. Talk to us today and let us help you. We can stop calls and letters from your Creditors, leaving you to enjoy life again.
We can also help you if run a business and [...]

Tax Debt Help And Advice - A Unique Solution For Your Unpaid UK Tax Bill

Do you have unpaid UK tax bills, is the tax man knocking on your door and you don.t know where to turn, if so then take a look at this video
Duration : 0:3:6

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Technorati Tags: advice, debt, [...]

Tax Relief for Foreclosed Homeowners - IRS Cancellation of Debt Income

This message is from Nina Olson, the National Taxpayer Advocate and your voice at the IRS. It is one of a series of videos with consumer tax tips about important tax issues you may be facing. This series focuses on the issue of cancellation of debt. Tax relief for foreclosed homeowners is discussed in [...]

Mike Huckabee - THE FAIRTAX REVOLUTION PART 1

AN ISSUE THAT LIBERALS, INDEPENDENT AND CONSERVATIVES CAN AGREE WITH!!!
Mike Huckabee is a supporter and a leader in the FAIRTAX(tax reform) and that is why John McCain should pick Mike Huckabee for Vice President!!!
Call McCain’s office at 703-418-2008 and let him know you want the FAIRTAX and Mike Huckabee for Vice President!
A MUST READ!!! [...]

Mortgage Debt Cancellation am I liable?

Spouse and I separated 2004; filed bankruptcy 2005. He lived in house (both names on deed and mortgage). HE reaffirmed mortgage, I did not. He died 2007, divorce not final. I returned to house, negotiated with mortgagee to reduce defaulted loan by $9000. I refinanced. I did not claim $9000 on 2007 [...]

If the IRS considers canceled debt as added income, why can’t use the amount paid on debts to reduce income

The IRS wants to tax me on 4000 of a 10000 debt I settled for 6000 in 2004. If so, how about I add up my monthly car payments and subtract that from my earned income.
Because that option is not available in the IRS codes.
However, any deduction that you consider legitimate based on your personal [...]