Are bankruptcy fees tax deductible?

Bankruptcy discharge paperwork

Are bankruptcy cost and fees considered tax deductible? When looking at that kind of tax deductions that are available when you are in bankruptcy you first need to understand that there are difference depending on the kind of bankruptcy case you filed be it Chapter 7 or Chapter 13.

Which bankruptcy eliminates all debt

Consequences of Bankruptcy?

If you’re hoping that bankruptcy is a quick way to have your debts discharged without having to pay another cent or lift a finger, you can be disappointed if you don’t know the facts. Which bankruptcy eliminates all debt? Well Chapter 7 bankruptcy, the most common type of consumer bankruptcy, is also called a ‘liquidation’… Continue reading Which bankruptcy eliminates all debt