Attorney for Small-Business Bankruptcy in New Jersey
A Chapter 13 bankruptcy or Chapter 7 bankruptcy may provide the debt relief small-business owner needs without the expense a Chapter 11 bankruptcy entails. This makes a Chapter 13 bankruptcy or Chapter 7 bankruptcy a cost-effective means of obtaining tax debt relief, for sole proprietors or owners of S-corporations.
At Oliver & Legg, an experienced New Jersey small-business bankruptcy law firm, we have helped many business owners obtain debt relief through these means. Our law firm is committed to helping our clients keep as much property as possible and placing them in a more secure financial position.
Getting Debt Relief While Protecting Your Assets
In a free consultation, a bankruptcy lawyer from our firm can review your situation and discuss your options.
If your business appears to be financially viable but you have unmanageable levels of debt, a Chapter 13 bankruptcy could reduce those debts and enable you to keep your business. For other business owners, a Chapter 7 bankruptcy may allow you to terminate operations in an orderly way. Alternatively, there may be a nonbankruptcy debt relief solution that can provide you with the financial breathing space you need. Put our experience and knowledge to work for you today.
Filing Bankruptcy Can Discharge IRS and New Jersey Tax Debts
Business owners who owe federal and state income taxes may be able to discharge those obligations through bankruptcy, provided that certain conditions are met. Other debts such as sales, Social Security and Medicare taxes are not dischargeable, although they can be rolled into a Chapter 13 bankruptcy repayment plan. Our attorneys have extensive experience obtaining tax debt relief for clients. When you retain our law firm, we will work to reduce your debts to the maximum extent possible.