Small Business Amounts

[CatsInTrouble]

I run a small biz out of my home. My lawyer said that the expenses that I have to get to count are a little bit different than tax expenses- but he didn't say HOW!

So, in order to qualify for Ch. 7, we are right on the brink of the median income, and if some of my business expenses can't be counted against my profits, then it may throw us over the edge of the median.

Anyone know?

[WorkingItOut]

I run a small biz out of my home. My lawyer said that the expenses that I have to get to count are a little bit different than tax expenses- but he didn't say HOW!

So, in order to qualify for Ch. 7, we are right on the brink of the median income, and if some of my business expenses can't be counted against my profits, then it may throw us over the edge of the median.

Anyone know?

I have a very small side business on top of my day job and my attorney gave me some worksheets to fill out for each of the past 6 months that listed business income and expenses. The expense categories were standard things like advertising, inventory, utilities, etc. I didn't notice anything different than what I write off on my taxes.

Oh, and my income is right below the median too. If they don't count these expenses, I'll be over. I'm filing in a couple of days. So hopefully it will work out.

[CatsInTrouble]

Sigh. You and me both. Best of luck.... I can't file til March 1, but... I do get to see the attorney and ask him straight out at least tomorrow.