March 2015 - Jeffrey M. Rosenblum, P.C.

What not to do before filing for bankruptcy

March 24, 2015
On Behalf of Jeffrey M. Rosenblum, P.C.
Personal Bankruptcy

People who file for bankruptcy in New York often worry about what assets might be seized after they file. Although some people may be tempted to transfer valuable assets to family members and friends in an effort to protect them,…

Student loans and bankruptcy in New York

March 19, 2015
On Behalf of Jeffrey M. Rosenblum, P.C.
Personal Bankruptcy

According to a study done by an attorney, 40 percent of holders of student loans were able to have those obligations discharged in bankruptcy court if they attempted to do so. Furthermore, although there are thousands of good candidates for…

SIMPLIED METHOD FOR HOME OFFICE DEDUCTION

March 16, 2015
On Behalf of Jeffrey M. Rosenblum, P.C.
IRS

“The Internal Revenue Service has reminded people with home-based businesses filling out their 2014 federal income tax returns that they can choose a simplified method for claiming the deduction for business use of a home. Introduced in the tax year…

IRS ANNOUNCES INTEREST RATES REMAIN THE SAME

March 16, 2015
On Behalf of Jeffrey M. Rosenblum, P.C.
IRS

“The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning April 1, 2015. The rates will be: • three (3) percent for overpayments [two (2) percent in the case of a corporation];…

IRS REMINDS TAXPAYERS THEY STILL HAVE TO TIME TO CONTRIBUTE TO AN IRA

March 16, 2015
On Behalf of Jeffrey M. Rosenblum, P.C.
Firm News

“Taxpayers that they still have time to contribute to an IRA for 2014 and, in many cases, qualify for a deduction or even a tax credit. Contributions to traditional Individual Retirement Arrangements are often deductible, but distributions, usually after age…

New York bankruptcy may be better than insolvency

March 12, 2015
On Behalf of Jeffrey M. Rosenblum, P.C.
Personal Bankruptcy

The Federal Reserve Bank of New York has filed a report that indicates that bankruptcy may not be the last resort many people make it out to be. Analyzing changes in bankruptcy law from 2005 onward, the Federal Reserve has…

Using bankruptcy to handle tax debts

March 4, 2015
On Behalf of Jeffrey M. Rosenblum, P.C.
Personal Bankruptcy

While filing for bankruptcy may result in a discharge of many different types of debt, tax obligations are only released under certain circumstances. For example, being freed from tax debts is typically more likely when the individual is filing for…