I've gotten some really great advice here about what is and is not kosher when it comes to disclosing cash assets, but have a few more. A chunk of money from my struggling business has just entered my bank account right before I'm ready to file. My lawyer tells me I can still file, but that this money, or a considerable portion of it will likely be seized. So now I want to know what I can spend it on before I file and therefore keep as much as possible. I have learned that
a. medical and dental expenses
b. car repairs
c. quarterly estimated tax payments
are all ok. Does anyone know what else would be ok? Here's what I am thinking about:
1. Pay ahead on utility bills
2. Stock up on supplies for my business
3. Fill the freezer and stock the cupboards
4. Buy prescription meds on-line
Does anyone else have any ideas of what else would be ok to spend $$ on before I file and thereby reduce the size of my bank account?
Thanks!
a. medical and dental expenses
b. car repairs
c. quarterly estimated tax payments
are all ok. Does anyone know what else would be ok? Here's what I am thinking about:
1. Pay ahead on utility bills
2. Stock up on supplies for my business
3. Fill the freezer and stock the cupboards
4. Buy prescription meds on-line
Does anyone else have any ideas of what else would be ok to spend $$ on before I file and thereby reduce the size of my bank account?
Thanks!
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