Debt Cancellation and Taxes

Sometimes bad things happen to good people, and sometimes there are just unfortunate situations beyond our control. Medical problems, financial distress, real estate short sales, foreclosures, bankruptcy, scams, unscrupulous partners and the list goes on. Then with the IRS making canceled debt taxable income, it can be overwhelming.

If for any reason you would like help in understanding debt cancellation, IRS Form 1099-C, insolvency, IRS Tax Form 982 or automatic taxable income on Line 21 of Form 1040, then you owe it to yourself to give us a call.

We have confidentially helped clients with these financial issues for many years, and it is surprising just who can end up with these problems and for what reasons they occur.

There are strategies and techniques to minimize the impact of debt cancellation, and we'll act on your behalf to save you as much money as possible.

If you would like some professional guidance, or maybe just someone to answer a few questions, please give is a call at 402-289-3976 for a caring consultation.