top Ad Widget

Collapse

Announcement

Collapse
No announcement yet.

Filing this week and old corporations

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Filing this week and old corporations

    I would like to file this week, I have only minor charges ($400 across 5 CC's) 75-90 days ago, although some of the charges are out of the country (I was visiting family). I am going Pro Se, due to having very little money, and no assets. I have NOLO and have read about every thread here last couple months. I am trying hard to do this right and am being brutally honest. I would prefer a lawyer but I can't swing it.

    I did the pre-counseling, means test, and am using a Form Preparer to ensure it is filled out correctly. I have run through it and can make changes still before printing it out. I feel pretty good but there is one area I would greatly appreciate some thoughts on please.

    I had a corporation that lost $4000 in 2008 (it did $15,000 in sales) and was officially closed down on January 5, 2009. It was included in last years taxes.

    I also have another corporation (also closed) in 2007 that I never did anything with, and I filled out a form with the IRS saying the EIN was never going to be used again, as it was a venture that was abandoned (or something to that effect). It wasn't included in my taxes as nothing happened.

    So I am assuming I should list both EIN's? Any thoughts on small corporations (it was an online store) would be greatly appreciated. Anything I have to watch out for, or other info I have not foreseen? Does anyone see any flags? How about the out of country CC charges? I could wait a couple more weeks if that might be wiser but would prefer do it now.

    Thank You
    Last edited by OnTheRocks; 11-15-2009, 02:16 PM. Reason: clarity

    #2
    When I filed I had two previous corps and one still opened (since has been closed after the dshcrg) I gave my lawyer all the info on all corps, i.e type of business, sales #'s, receivables, accounts payable (as they were being included in BK) and current cash flow. At the 341 the Trustee asked me a few questions on each corp. He just wanted to make sure that any extra monies was going to pay down corp debt. As long as everything was accounted I was fine. They also want to make sure that if you have stock / assets (furniture, equip) that you plan on selling for cash as any profit should go towards paying corp debt. Sounds like you don't have anything to worry about. Just be honest and you should be fine. If you ahve any outstanding debt from the corps and it was personally backed by you, you should consider including the amounts in the BK. At least that is I did just to cover myself.

    I am not a lawyer but this is how I handled my bk with advice of my lawyer. Good luck.

    Comment


      #3
      Thanks for your insight mickeyme! I don't have any of those issues, all is settled, so I think I am good to go. Thanks again!

      Comment

      bottom Ad Widget

      Collapse
      Working...
      X