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I tried searching the irs site for all the bankruptcy allowances but all I seem to find is the one for family expenses. I was wondering if there was a list of all allowances.
bankruptcy allowances or exemptions? if you are trying to find what is exempt, try your local state bankruptcy website. If you are look for the IRS standards for the means test, which gives you dollar amounts for deductions, try www.legalconsumer.com , enter your zip code. or try http://www.usdoj.gov/ust/eo/bapcpa/2...anstesting.htm
Be very careful - the expenses listed on the IRS.gov website are NOT used for bankruptcy. Only the expenses listed on the US Dept of Justice's US Trustee Program Means Testing web page and its links are used on bankruptcy forms .
NOTE: this IRS link CANNOT be used for filing bankruptcy. This IRS webpage states it clearly: "These National Standards are effective on March 1, 2008 for purposes of federal tax administration only. Expense information for use in bankruptcy calculations can be found on the website for the U.S. Trustee Program."
I actually have a question about this-
For a family of 4 it says the amount for "Food, Clothing, and Other Items" is $1370. This includes $752 for Food, $74 for Housekeeping Supplies, $244 for Apparel & Services, $65 for Personal Care & Services, and $235 for Misc.
Are these amounts that we can use as a guide in our 13 budget?
Later down on the page it says "Food and Clothing (apparel and expenses)" is $ 996. It then gives the 5% of this value. Why is this important and why is it separated from teh above total...? I guess I'm confused.
I actually have a question about this-
For a family of 4 it says the amount for "Food, Clothing, and Other Items" is $1370. This includes $752 for Food, $74 for Housekeeping Supplies, $244 for Apparel & Services, $65 for Personal Care & Services, and $235 for Misc.
Are these amounts that we can use as a guide in our 13 budget?
Later down on the page it says "Food and Clothing (apparel and expenses)" is $ 996. It then gives the 5% of this value. Why is this important and why is it separated from teh above total...? I guess I'm confused.
That statement confused me as well, does anyone have any input?
I actually have a question about this-
For a family of 4 it says the amount for "Food, Clothing, and Other Items" is $1370. This includes $752 for Food, $74 for Housekeeping Supplies, $244 for Apparel & Services, $65 for Personal Care & Services, and $235 for Misc.
Are these amounts that we can use as a guide in our 13 budget?
Later down on the page it says "Food and Clothing (apparel and expenses)" is $ 996. It then gives the 5% of this value. Why is this important and why is it separated from teh above total...? I guess I'm confused.
If you have documentation, you are allowed to claim an extra 5% in the food and clothing section. The section below is simply doing the math for you. You don't get an additional expense for housekeeping supplies, personal care, or misc. so it subtracts those out, and gives you the amount that is JUST food/clothing.
Usually the additional 5% is only allowed if you have some sort of medical condition that requires it (food allergies, diabetes, etc.)
Filed Chapter 13 on 2-28-10. 341 completed 4/14/10. Confirmed 5/14/10. Lien strip granted 2/2/11
0% payback to unsecured creditors, 56 payments down, 4 to go....
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