Got Unemployment Income and Owe Income Tax?

Wasson and ThornhillIncome Taxes

what to do with income

Photo by Travis Essinger on Unsplash. What if you owe 2020 income taxes even though the IRS is not taxing $10,200 of unemployment income? What should you do and not do? Last week we discussed the extent to which unemployment income is not taxed because of the American Rescue Plan Act. Generally, you don’t pay federal (and possibly state) income … Read More

Unsecured Debts

Wasson and ThornhillBankruptcy Advice

Unsecured debts are not legally attached to anything you own. They have no security. Certain special unsecured debts are “priority” debts.   Unsecured Debts Debts that are unsecured are those which are not legally tied to anything you own. The creditor has no “security” attached to the debt, no “security interest” in anything. It has no right to repossess or … Read More