Category archive for ‘Entrepreneurship’ 
Health Care Reform Has Some Help For Small Businesses
by John C. Colwell on 7/20/10 | 0 Comment(s)
It was of particular interest to me, since my business likely qualifies for this tax credit. My office is comprised of 3 locations, with 4 attorneys and 6 support staff. According to this article, the tax credit will apply to business of 25 employees or less, along with other requirements. We happily provide Kaiser-Permanente health HMO to our employees, and it appears that our firm will enjoy a 35% deduction of our health care premiums by way of a tax credit this year, and each year, until 2014, when the tax credit is increased.
Small / Closely held Corporate Bankruptcy and Personal Guarantees
by John C. Colwell on 12/29/09 | 1 Comment(s)
In this continuing declining economy, our office is approached frequently by the small business owner. The owners of America’s small businesses are under the same ‘big’ company financial pressures. Oftentimes the pressure for the small businessman is higher, if that can be believed, due to the nature of the small business. A large corporation has [...]
Gift or Loan?
by Jay Jump on 11/17/09 | 0 Comment(s)
Many people ask about money they have borrowed from relatives. I typically hear about how Mom lent the debtor two thousand dollars right before filing and it needs to be paid back. I always ask my client “Did you sign a promissory note?” “No.” is the typical reply. “Is there a written contract that requires [...]
I’ve found a new job, will I still be able to file for bankruptcy?
by John O'Connor on 11/15/09 | 0 Comment(s)
I’ve found a new job, can I still file bankruptcy? If you’ve read this blog with any frequency, you’ve undoubtedly seen numerous posts about bankruptcy reform and the means test. Indeed, much has been written about the means test, the vaunted gatekeeper to chapter 7 bankruptcy protection implemented by Congress as part of BACPA in [...]
In-Kind Exemptions and the ‘Super’ Schedule C
by John O'Connor on 10/15/09 | 1 Comment(s)
Under normal circumstances, a debtor claiming and exemption is limited by the statutory dollar amount that their jurisdiction imposes on the type of asset they are seeking to protect. For instance, North Carolina law allows a married couple filing a joint case to protect up to $37,000 of equity in their home. A couple who [...]
Emotions and Bankruptcy
by Jay Jump on 9/23/09 | 0 Comment(s)
Emotions and Bankruptcy – Jay S. Jump – Jump Law Group – Washington State – www.jumplawgroup.com One of the statements I hear most often when doing an initial client interview is ‘I never thought I would end up here. I’m a complete failure.’ I cringe everytime I hear it because it isn’t true. Life is [...]
Protecting Against Deficiency Judgments Through Bankruptcy
by John O'Connor on 4/13/09 | 0 Comment(s)
As a bankruptcy and real estate finance attorney in Charlotte, NC, I meet with many over-extended real estate investors. Entreprenuers who acquired highly leveraged real estate portfolios are now having a difficult time meeting their debt service payments and are left with undesirable choices. Perhaps a construction loan has reached or is past maturity and [...]
