I've never posted here, but read often. Our business went under, thanks to the wonderful economy. My DH is still looking for a job, so I'm the only income. Even after he gets a job we'll still be well within the guidelines of filing 7.
Now my question...since we lost so much money in the business we got a decent amount back on our income tax, $7000. Then we sold some of our equipment and made another $7000 (but should've made $40,000). I used it to pay payroll taxes we were behind on, 1 yr. property tax on our home, 1 yr home insurance, 6 months auto insurance, eye doctor visit and eye glasses for DH and myself. Those are all necessities for sure. Can I replace the light above my kitchen table that we can't use cuz there's something electrical wrong with it? What about house gutters that are ruined and leaking everywhere that will eventually ruin our roof? How about a side of beef? We all need to go to the dentist too.
There's so much around here we've neglected during the past 4 years trying to make the business survive.
In January I had to have a CT Scan (I get migraines about 20x's each month). Will I be able to claim that on BK? I turned it in, so I'm hoping they won't argue. If I can't claim it I need to get it paid so my $1000 deductible is met. How far in advance can I pay health insurance, it's $700/mo.? There's still a LOT of testing the Dr.'s are planning on doing, so I'm hoping I can pay as much health insurance as possible. Can I put carpet in my living room (to get rid of my hardwood floors)? It would help out so much with cutting the noise level down. My head about explodes with every step my family takes in the living room and down the hallway.
It sure sounds like a lot of money, but once you use it on your "needs" it's gone before you know it.
Thanks for any and all replies. Maybe I'm just reading to much into all this, maybe I just need to call our attorney tomorrow.
Amy
Now my question...since we lost so much money in the business we got a decent amount back on our income tax, $7000. Then we sold some of our equipment and made another $7000 (but should've made $40,000). I used it to pay payroll taxes we were behind on, 1 yr. property tax on our home, 1 yr home insurance, 6 months auto insurance, eye doctor visit and eye glasses for DH and myself. Those are all necessities for sure. Can I replace the light above my kitchen table that we can't use cuz there's something electrical wrong with it? What about house gutters that are ruined and leaking everywhere that will eventually ruin our roof? How about a side of beef? We all need to go to the dentist too.
There's so much around here we've neglected during the past 4 years trying to make the business survive.
In January I had to have a CT Scan (I get migraines about 20x's each month). Will I be able to claim that on BK? I turned it in, so I'm hoping they won't argue. If I can't claim it I need to get it paid so my $1000 deductible is met. How far in advance can I pay health insurance, it's $700/mo.? There's still a LOT of testing the Dr.'s are planning on doing, so I'm hoping I can pay as much health insurance as possible. Can I put carpet in my living room (to get rid of my hardwood floors)? It would help out so much with cutting the noise level down. My head about explodes with every step my family takes in the living room and down the hallway.
It sure sounds like a lot of money, but once you use it on your "needs" it's gone before you know it.
Thanks for any and all replies. Maybe I'm just reading to much into all this, maybe I just need to call our attorney tomorrow.
Amy
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