Beware of Income Taxes on Unemployment Benefits for Tax Year 2021

Beware of Income Taxes on Unemployment Benefits for Tax Year 2021
Income Taxes on Unemployment Benefits for the tax year 2021 as of to date will not have the same tax break than in 2020.  In 2020, the United States saw record numbers of Americans go jobless due to the COVID-19...
October 15, 2021
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What is a Cross-Collateralized Loan?

What is a Cross-Collateralized Loan?
A cross-collateralized loan is a loan in which the collateral has already been pledged as security for a previous loan. So, basically the same collateral (often a vehicle or other personal property) is used as security on multiple loans. Some...
October 8, 2021
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When planning to file a Chapter 11 bankruptcy for my business. What do I need to prepare before filing?

When planning to file a Chapter 11 bankruptcy for my business. What do I need to prepare before filing?
When planning to file a Chapter 11 bankruptcy for a business, many people wondered what they need to prepare before filing. WM Law, can file Chapter 11 bankruptcy petitions for businesses (and individuals too). We can file traditional Chapter 11...
October 1, 2021
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The IRS “Math Error” Letters

The IRS “Math Error” Letters
The IRS is Finally Catching Up After shutting down for over a year, the IRS is finally catching up with all of the tax returns filed in 2019 and 2020. With that, many people are getting an IRS "math error"...
September 24, 2021
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The Foreclosure and Eviction Moratoriums Are Over. Now What?

The Foreclosure and Eviction Moratoriums Are Over. Now What?
With the foreclosure and evictions moratoriums over, housing situation could change for many people. The federal government, states and some cities had imposed foreclosure and eviction moratoriums during the pandemic to try to help people stay in their homes longer....
September 16, 2021
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Kansas Chapter 13 Bankruptcy Cases May Change Soon

Kansas Chapter 13 Bankruptcy Cases May Change Soon
Kansas and Missouri are two very different states, so it shouldn’t be too surprising that they have different rules when it comes to how Kansas Chapter 13 bankruptcy and Missouri Chapter 13 bankruptcy cases operate in their federal courts. However,...
September 3, 2021
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My Small Business Failed, and I Feel Like a Failure

My Small Business Failed, and I Feel Like a Failure
We work with many people in the Kansas City area after they have decided to close their business because it simply isn’t profitable.  Many small businesses fail, and even more so following the COVID-19 government-imposed shutdowns.  That’s simply a fact...
August 6, 2021
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What Can I Do If Evictions and Foreclosures Resume in Kansas?

What Can I Do If Evictions and Foreclosures Resume in Kansas?
Federal Moratorium on Mortgage Foreclosure & Evictions When the COVID-19 pandemic hit the US last year, the CDC issued federal moratorium on mortgage foreclosure and evictions.  The idea behind the CDC’s action was to prevent a spread of the virus...
July 30, 2021
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What Happens When My Mortgage Forbearance Ends?

What Happens When My Mortgage Forbearance Ends?
In 2020, due to the COVID-19 pandemic, many mortgage companies began offering a forbearance on the mortgage payments when homeowners started to fall behind on mortgage payments. A forbearance is where the lender agrees to allow the homeowner to not...
June 28, 2021
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Help! I’m in a Chapter 13 and My Vehicle Just Died

Help! I’m in a Chapter 13 and My Vehicle Just Died
A Chapter 13 bankruptcy is a payment plan whereby the debtor is repaying certain debts. It is very common, for example, for vehicle loans to be paid through a Chapter 13 bankruptcy. But what happens if the vehicle you are...
June 8, 2021
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Bankruptcy Eligibility Tool

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