Archive: tax liabilities

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Lowering Tax Liability for Medical Professionals

Many medical professionals earn salaries that push them into higher tax brackets and are unable to take advantage of certain deductions and credits available to low-income taxpayers. Whether you are an employee or self-employed there are still viable options for lowering your tax liability. Below are a few of the deductions, credits, and strategies that […]

Are Taxes Dischargeable in Bankruptcy?

Bankruptcy is often viewed as the option of last resort to resolve seemingly unsurmountable debts.  In working with clients owing large amounts of tax, we have found that their prevalent thought is that tax liabilities survive bankruptcy.  However, it is possible for taxes and the associated penalties and interest to be discharged, if the following […]