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Recent Bad Debt questions

How must I retain my old tax returns? for Social Security?

How long must I retain my old tax returns? for Social Security?JA: What state are you in? And have you consulted a local attorney?Customer: PA. Just moved here from NC in AugustJA: Has anything been officially filed? If so, what?Customer: No but i am loaded down with tax returns from 1999JA: Anything else you want the lawyer to know before I connect you?Customer: I also have some returns from my former wife9years ago and she continues to be emmployed in NC,,,,I am retired and living on Social security in addition to a small retirement plan from NC

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Loren

Juris Doctor

43,740 satisfied customers
I have a business agreement with a client and we are

I have a business agreement with a client and we are terminating our project without fulfilling the contract terms, with joint agreement, due to incompatible working styles. My client made a down payment of 25% of the estimated amount of the work. I have agreed to refund part of the down payment, while keeping enough to cover actual out of pocket expense. I will actually have to eat several thousand dollars of billable time, due to my client not being happy with the provided product. Can I write off any of the time I put in, and subsequently was not able to bill for?

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Richard - Bizlaw

Juris Doctor

11,480 satisfied customers
I have a S-corp in California that I am in the process of

I have a S-corp in California that I am in the process of winding down sometime in the next 2 months.A former clients project I stopped working because he didn't pay. He hired someone new and I spent 6 hours doing knowledge transfer. Then told the clientI would do nothing else until I was paid for the last two weeks. The whole project is under 10,000 dollars. That being said the former client's lawyer has called me claiming I defaulted on a contract. I haven't returned the lawyers call yet. I have had nocommunication from them until this week. I planned to write the whole thing off as bad debt. What is the best strategy to handle this? How much risk am I at?

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CalAttorney2

Attorney

Doctoral Degree

20,486 satisfied customers
I red a company in Texas to collect a bad debt from a

I hired a company in Texas to collect a bad debt from a Canadian Company, my debtor paid the collection agent USD $35000.00 which I should rec'd USD 28,000.00 This just happened about 10 days ago. I told the agency the money should came to me directly before I hired them; but they didn't do that. The Agency told me that they need to hold the money for 60 days in case the debtor would changed their mind and sued them to ask them for the money back.Pls advise.

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Alex Esquire

Managing Attorney

Doctoral Degree

22,808 satisfied customers
Can you tell me how long ( how many years ) we need to

HI. Can you tell me how long ( how many years ) we need to keep our tax records according to the IRS? We do not own a business. Thank you!

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P. Simmons

Attorney

Doctoral Degree

38,092 satisfied customers
My divorce settlement conference went great today/into tonight.

My divorce settlement conference went great today/into tonight. Thank you for all your information. It was very helpful.In addition to the divorce, we discussed my husband's bankruptcy. One of his creditors asked me to pose a question to my husband's attorney at the meeting, but I didn't feel comfortable asking, so I'm running it past you.My husband has a creditor, a subcontractor who provided labor at one of his construction sites five years ago, and was never paid. The sub never sued. My husband wasn't going to list him on his bankruptcy because he knew the sub had no plans to pursue the debt and it was past the statute of limitations. However, the sub (a relative) would like to be named as a creditor on my husband's bankruptcy if it would be to the sub's advantage tax wise and he could write off the debt on his taxes. If someone owes you money and they name you as a creditor in their bankruptcy and the debt is discharged, can you write off that debt for tax purposes? Thanks.

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39,608 satisfied customers
Below is listed a commit from a subcontractor of mine. Can

Below is listed a commit from a subcontractor of mine. Can he do this. However it is the truth.Loyd,This is the last day of the month (yet another deadline we discussed). I leave for Spring Break Thursday. If I do not have payment by then, I am moving on. I will consider it bad debt and inform any and all parties I believe it is my responsibility to inform that they should avoid doing business with you. I already have a review on Angie's list ready to go. I have a much more extensive list, as well. You are obviously spending money. You simply choose not to pay me. Enough said. I am very tired of the topic. I hope you decide to make things right. John

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LawHelpNow

Attorney and Counselor at Law

Doctor of Jurisprudence

6,720 satisfied customers
I HAVE SEVERAL QUESTIONS FOR A NEW YORK STATE ATTORNEY THAT

I HAVE SEVERAL QUESTIONS FOR A NEW YORK STATE ATTORNEY THAT IS CONVERSANT WITH NOT-FOR-PROFIT LAWS AND PRACTICE. NONE OF THE LAWYER CATEGORIES ABOVE FIT THAT DESCRIPTION. WHEN I HEAR FROM A QUALIFIED ATTORNEY I WILL THEN POSE THE SEVERAL RELATED QUESTIONS.

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Damien Bosco

Attorney

Doctoral Degree

3,856 satisfied customers
I am being sued in a personal liebel suit and the plaintiffs

I am being sued in a personal liebel suit and the plaintiffs attorney has requested 5 yrs of my personal tax returns.Do I have to comply without a judges order to do so?And am I legally bound to answer interrog. or is it more of a proff. courtesy?

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

53,318 satisfied customers
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