Your Tax Return Questions Answered

Part of our Bankruptcy Tuesday series

     This month we’ve been talking about tax returns, when you’re going to have to supply a copy to the trustee, and how the return might be helpful to the trustee. This week I’d like to wrap up the subject of tax returns with a few quick observations. What would happen if you aren’t required to file a tax return? That’s not a problem. You would just provide the trustee with an affidavit. This would explain that you did not earn enough money to require a tax filing. What about if you lived or worked in more than one state during a year? Unfortunately, you’re required to file a state tax return for each state in which you earned income. This does not apply, however, if that state does not impose a state income tax. Finally, I wanted to say a few words about tax planning. You don’t want to prepare your tax return only to find out that you owe money to the IRS or the state. Make sure to pay estimated quarterly taxes if you are self-employed or employed as an independent contractor. If you’re a regular employee, check your tax withholding. Are you claiming too many deductions? Conversely, if you’re entitled to a sizable tax refund, it usually means that you haven’t been paying attention to your withholding. Why would you want to give the government an interest-free loan? Instead, adjust your withholding so you get a larger paycheck every week, and you don’t have to wait until next year to get that excess withholding back.

 

Wishing you knew more about filing taxes under Chapter 13? Check out last week’s Bankruptcy Tuesday’s post: https://www.mccuelawoffice.com/bankruptcy-tuesdays-6

What Our Clients Say

I can't tell you how much it meant to me to have all of you on my side. When I was unsure of myself and of my circumstances. You were so kind, thoughtful and reassuring. When I was called, I got nervous to all of my questions. It was the best experience ever with an attorney and crew.

A.G.

Millinocket, Maine

This Law Office offers the utmost in making a client feel comfortable and able to communicate without feeling intimidated or nervious. Kind, friendly and very professional service. I would never go anywhere else and proudly recommend this law firm.

Rochelle Waycott

Baileyville, Maine

Can't say enough not only about the professionalism of the whole office and attention to detail but the fact you make us feel we were always your highest priority even though you have many other clients. We also felt we were treated like family and never a bother. Everyone eager to please.

David Goldsmith

Bangor, Maine

I was very well satisfied with the work you had done for me, and I would highly recommend you to anyone.

David West

Steuben, Maine

I feel safe in your care. Your firm handled my case with full support of me. If in the future I need a lawyer, I will go to your firm. I also will refer my friend to you.

Darlene Kilton

Medway, Maine

I would recommend the Law Office of Carl D. McCue LLC to anyone that has a legal issue. They are compassionate, efficient and very informative.

Gail M.

Carmel, Maine

Web Design & Development © 2019 Links Web Design, Bangor, Maine | Sitemap

Website Content Copyright © 2019 McCue Law