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Offsetting Future Tax Refund?

Posted: Thu Nov 03, 2011 3:06 pm
by Yahoo Bot

Alternative:

List the upcoming car expense at the bottom of Schedule J. Optionally, also
amortize it as a maintenance expense, and be prepared to show an estimate
from Aamco.

At the 341a hearing, ask the trustee if she will require the tax refund on
the first year, given the foreseeable expense (some don't). If required,
ask if the trustee will be amenable to splitting it the first year, if the
debtor cheerfully agrees to turn the full refund over in subsequent years.

Hale

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The post was migrated from Yahoo.

Offsetting Future Tax Refund?

Posted: Thu Nov 03, 2011 2:52 pm
by Yahoo Bot

File a motion to modify plan and specify in the modification that a certain
amount of the tax refund would be withheld for those reasons. It should be
filed without need for a hearing unless the Trustee or someone objects in
14 days + 3 for mailing.
On Thu, Nov 3, 2011 at 2:43 PM, Stephen Vokshori wrote:
> **
>
>
> I have a client that would be filing a C13 soon and will have a 0% plan.
> She expect to get a refund of about $7000 come early next year and expects
> to receive a similar refund every year thereafter. ****
>
> ** **
>
> Debtor now has a serious issue with her cars transmission that will cost
> around $3000 to repair. She uses her car daily for work, her children,
> etc. Is there any way to use the tax refunds towards this expense before
> handing it over to the trustee? If so, how should this be scheduled in
> advance?****
>
> ** **
>
> Thanks,****
>
> ** **
>
> Stephen Vokshori****
>
> Vokshori Law Group ****
>
> 1010 Wilshire Blvd. Ste. 1404****
>
> Los Angeles, CA 90017****
>
> ****
>
> main: (213) 986-4323****
>
> fax: (310) 881-6996****
>
> email: stephen@voklaw.com****
>
> web: www.VokLaw.com ****
>
> ** **
>
> ** **
>
>
>
Robert K. Lee
State Bar Certified Specialist in Bankruptcy Law
LAW OFFICES OF ROBERT K. LEE
Managing Attorney
3435 Wilshire Blvd., Suite 1035
Los Angeles, CA 90010
Ph 888-777-0839
Fx 888-777-0849
www.robertklee.com
File a motion to modify plan and specify in the modification that a certain amount of the tax refund would be withheld for those reasons. It should be filed without need for a hearing unless the Trustee or someone objects in 14 days + 3 for mailing.
On Thu, Nov 3, 2011 at 2:43 PM, Stephen Vokshori <stephen@voklaw.com> wrote:
The post was migrated from Yahoo.

Offsetting Future Tax Refund?

Posted: Thu Nov 03, 2011 2:50 pm
by Yahoo Bot

charsetF-8;
format="flowed"
1. She can wait until January 1, 2012 to file in order to exempt the
2011 refund if she is going to use the 703's and has room on the wild
card exemption.
2. She should adjust her payroll withholding moving forward to a
lower amount for state and federal taxes as she is otherwise
overwitholding. Certainly in Chapter 13 situations it is foolish for a
debtor to withhold more than will be owed in taxes.
Mark T. Jessee
Law Offices of Mark T. Jessee
"A Debt Relief Agency"
50 W. Hillcrest Drive, Suite 200
Thousand Oaks, CA 91360
(805) 497-5868 (805) 497-5864 (Facsimile)
On Thu, 3 Nov 2011 14:43:05 -0700, Stephen Vokshori wrote:
I have a client that would be filing a C13 soon and will have a 0%
plan. She expect to get a refund of about $7000 come early next year
and expects to receive a similar refund every year thereafter.
Debtor now has a serious issue with her cars transmission that
will cost around $3000 to repair. She uses her car daily for work, her
children, etc. Is there any way to use the tax refunds towards this
expense before handing it over to the trustee? If so, how should this
be scheduled in advance?
Thanks,
Stephen Vokshori
Vokshori Law Group
1010 Wilshire Blvd. Ste. 1404
Los Angeles, CA 90017
main: (213) 986-4323
fax: (310) 881-6996
email: stephen@voklaw.com
web: www.VokLaw.com
start="1kfyn48dvs2s@webmail.mysuperpageshosting.com"
charsetF-8
p{margin: 0;padding: 0;}1. She can wait until
January 1, 2012 to file in order to exempt the 2011 refund if she is going to
use the 703's and has room on the wild card exemption.
2. She should adjust her payroll withholding moving forward to a
lower amount for state and federal taxes as she is otherwise
overwitholding. Certainly in Chapter 13 situations it is foolish for a
debtor to withhold more than will be owed in taxes.
Mark T. JesseeLaw Offices of Mark T. Jessee"A Debt Relief
Agency"50 W. Hillcrest Drive, Suite 200Thousand Oaks, CA 91360(805)
497-5868 (805) 497-5864 (Facsimile)On Thu, 3 Nov 2011
14:43:05 -0700, Stephen Vokshori <stephen@voklaw.com> wrote:

The post was migrated from Yahoo.

Offsetting Future Tax Refund?

Posted: Thu Nov 03, 2011 2:43 pm
by Yahoo Bot

charset="US-ASCII"
I have a client that would be filing a C13 soon and will have a 0% plan. She
expect to get a refund of about $7000 come early next year and expects to
receive a similar refund every year thereafter.
Debtor now has a serious issue with her car's transmission that will cost
around $3000 to repair. She uses her car daily for work, her children, etc.
Is there any way to use the tax refunds towards this expense before handing
it over to the trustee? If so, how should this be scheduled in advance?
Thanks,
Stephen Vokshori
Vokshori Law Group
1010 Wilshire Blvd. Ste. 1404
Los Angeles, CA 90017
main: (213) 986-4323
fax: (310) 881-6996
email: stephen@voklaw.com
web: www.VokLaw.com
charset="US-ASCII"

The post was migrated from Yahoo.