You need credit to start your business, you need your business to re-establish and maintain your business credit and personal credit. Business credit and personal credit are linked together. Credit is one of the most important factors of your business; your business is the most important component of maintaining, fixing and re-establishing your personal credit. […]
Archives for June 2012
Foreclosures, Repossessions and Cancellation of Non-Business Debt
Written by Glen R Allie, CPA and Partner at Del Principe and Allie The tax treatment of debt cancellation will vary depending on your situation. The cancellation of debt may result in ordinary income, income from the sale of assets, or both. However, there are exceptions and exclusion from the possibility that income will be […]