I did that awesome online form at legalconsumer. Thanks to whomever posted it. I had a question though about the IRS standards. What if what you spend is LESS than the IRS standards?? Do you automatically get the IRS amount? I ask because we have 2 car payments. One is over the allowable by $19 (car payment is $490, allowable is $471), the second is under the allowable by $29 (car payment is $303, allowable is $332).
Also, on the food, clothings, misc. category it's allotting 2K for my family and I don't ever think we will come close to spending that much in one month (although we have just started all living together as a family of 6 so it may be spot on - LOL). So, would I automatically get the IRS amount or will the trustee ask to see receipts of how much we spend? I mean, we could certainly spend that much if we needed to (there's always someone that needs a new pair of shoes or new jeans without holes in the knees - LOL). And we do have 2 still in diapers and one on $100 per month formula so...
Just curious how I and J actually work and is that form pretty close to I and J?
I came in at appx -$500 so we are looking pretty good right now but that's using the IRS standards only and adjusting for our mortgage expense which is more than the IRS allowable (which I understand doesn't matter). I also had a question about that - our mortgage payment includes escrow for taxes and the taxes are escrowed at the previous owner's rate. In Fl, whenever you buy a new house, the taxes are reconfigured at the NEW assessed value and the new owner's have to make up the difference the next year when the house is assessed. We figured our taxes would run $2600 for the year and right now they are only escrowing for $1200. So, we decided we would put appx $200 away each month to cover this shortage so we don't get slammed with a negative escrow. Would the trustee consider this as a valid expense since we know for a fact it's going to happen?
Also, on the food, clothings, misc. category it's allotting 2K for my family and I don't ever think we will come close to spending that much in one month (although we have just started all living together as a family of 6 so it may be spot on - LOL). So, would I automatically get the IRS amount or will the trustee ask to see receipts of how much we spend? I mean, we could certainly spend that much if we needed to (there's always someone that needs a new pair of shoes or new jeans without holes in the knees - LOL). And we do have 2 still in diapers and one on $100 per month formula so...
Just curious how I and J actually work and is that form pretty close to I and J?
I came in at appx -$500 so we are looking pretty good right now but that's using the IRS standards only and adjusting for our mortgage expense which is more than the IRS allowable (which I understand doesn't matter). I also had a question about that - our mortgage payment includes escrow for taxes and the taxes are escrowed at the previous owner's rate. In Fl, whenever you buy a new house, the taxes are reconfigured at the NEW assessed value and the new owner's have to make up the difference the next year when the house is assessed. We figured our taxes would run $2600 for the year and right now they are only escrowing for $1200. So, we decided we would put appx $200 away each month to cover this shortage so we don't get slammed with a negative escrow. Would the trustee consider this as a valid expense since we know for a fact it's going to happen?
12/04/07 -case pulled for random audit.
12/18/07 -341 held: Asset case due to engagement ring & tax return.
02/19/08 - US trustee files motion to extend.
04/02/08- changed back to NO ASSET! I get my ring back and get to keep my tax return! :clapping: 04/28/08 -DISCHARGED!!! :yahoo::yahoo: 05/07/08 - CLOSED!!!