Bankruptcy Options

Bankruptcy Can Be The Beginning of Your Financial Restoration!
If you are contemplating filing for bankruptcy to wipe out tax debt, interest and penalties, have a professional thoroughly review your situation prior to filing. In some cases, filing for bankruptcy will leave you with the clean slate necessary to start over. If you don’t qualify to eliminate tax debt through bankruptcy, however, you may find that when all is said and done, you still have a massive tax liability left to deal with.

As you may be aware, there are different types of bankruptcy that you can file for. Each one has a different purpose, outcome, and long-term effect. Determining which type of bankruptcy will be the best for your situation (if any) demands a close examination of your financial situation, assets, debts, and history from every angle. The opportunity of a second chance that bankruptcy offers could be just what you need, but you need to make sure that you have the best chance of success and nothing comes back to haunt you.

Contact us for pre-bankruptcy counseling to help you determine if bankruptcy is the best answer for you.

Before Filing for Bankruptcy, let us review your options with you.

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Worcester County 1040-Filer: How to Handle Crypto Assets on Returns

Now that we're into the first "full" week of February, things are truly heating up for us here at Jay, at least in terms of our communication volume. And no, we aren't replying to our emails using ChatGPT ... but I wouldn't be surprised if that happens at other...

Walia’s Private Foundations as Giving Strategies

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What You Need for Your Worcester County Tax Appointment

If you were watching football this weekend, you likely noticed TurboTax’s “personalized service” ads. Their timing was impeccable… if not slightly annoying – who wants to think about taxes while on the edge of your seat during a playoff game?The allure of big brand...

Paying Bills in 2023: Jay Walia’s Tips

Last week, the IRS announced the "official" beginning of the 2023 tax season – January 23. That's the date that they start accepting electronically filed returns. (Yes, some Worcester County people really do file their taxes this early.) This is the start of the...

4 Financial Goals Worcester County People Can Reach in 2023

I want to help you today. With your resolutions, that is.You see, if you take a look at the most common resolutions (lose 20lbs, work out more, quit smoking, read more & watch less, etc. etc. etc.) they’re all pretty similar – you might as well get out last year's...

2023 Tax Strategies Worcester County Taxpayers Should Make Now

Resolutions? Really?It’s kind of what you do in January — new year, new goals, new me … right?Well, as someone who’s made resolutions and failed to keep them over many years, I’m all about focusing on what I know is doable. As your Worcester County tax pro, I’m...

Federal Spending 2022’s Effect on Worcester County Taxpayers

As we come out of the last-minute gift wrapping and too many holiday goodies fog and finish out 2022, I want to take a moment and say thank you for your trust this year. We here at Accounting Solutions, Inc are grateful that you choose us not only to handle the...

The New Crypto Regulations and Worcester County Traders

The holidays are fully upon us, and I’ll have more to say along those lines next week. But, as is usually the case, there are many tax and regulatory things to handle before EOY, and I want to keep you abreast of all those things whether you’re one of my Worcester...

Walia’s Year-End Guide to Paying Less Taxes

When scrolling my social feeds, if I come across a Christmas countdown post, I sometimes have to purposefully slow my breathing. For Worcester County tax and financial pros like me, this season also shouts: deadlines, deadlines, deadlines. Also, yes … happy...

2022 Changes Could Mean Tax Advantages for Worcester County Filers

Phew. I can tell you (for my part) that I’m eager to metaphorically turn the calendar page into 2023. The last THREE tax seasons have been fairly brutal for tax professionals, navigating IRS staffing challenges, all of the government relief initiatives, and of course...

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