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Taxes come into play almost any time you make money. So, if you make a profit off the sale of your property, you’ll probably run into capital gains tax.For example, if you purchased a property ...
Debt factoring is also used as a financial instrument to provide better cash flow control especially if a company currently has a lot of accounts receivables with different credit terms to manage. A company sells its invoices at a discount to their face value when it calculates that it will be better off using the proceeds to bolster its own ...
The counterparty is called a creditor. When the counterpart of this debt arrangement is a bank, the debtor is more often referred to as a borrower. If X borrowed money from their bank, X is the debtor and the bank is the creditor. If X puts money in the bank, X is the creditor and the bank is the debtor. It is not a crime to fail to pay a debt.
Asset protection (sometimes also referred to as debtor-creditor law) is a set of legal techniques and a body of statutory and common law dealing with protecting assets of individuals and business entities from civil money judgments. The goal of asset protection planning is to insulate assets from claims of creditors without perjury or tax ...
Those laws give a creditor the right to impose a lien on an item of real property or a chattel by the existence of the relationship of creditor and debtor. Those liens include: tax liens, imposed to secure payment of a tax; "weed liens" and "demolition liens", assessed by the government to rectify a property from being a nuisance and public hazard;
You're in debt to Uncle Sam. This probably isn't a great feeling, but you have to face it. More: 5 Tax Blunders That Can Leave You BrokeFind Out: What To Do If You Owe Back Taxes to the IRS Maybe ...
The debt must then be collected by an officer of the court (Gerichtsvollzieher) who exclusively may use force to collect the debt, such as opening a door or enlisting help from police. Neither the creditor nor private debt collection agencies may use force or seize property against the will of the debtor. [citation needed]
Tax debt relief is a way the government helps you when you can’t afford to pay your tax bill. This comes in the form of a payment plan or a settlement in which the IRS agrees to settle your tax ...