Greetings.
I'm worried about the answers I'll receive, but I'll ask anyway.
A few of my personal bills were paid through my C-corp, due to business related expenses charged on my personal credit card.
I paid myself only $7500 in '06 as an employee, and pid employee taxes etc. I have not paid myself a dime this year so far and have basically been paying my portion of the rent utilities etc through the c-corp direct. My '06 tax return claims approx $30k or so for the year. My wifes income included of course.
I'm going CH7 due to the personally guaranteed lines of credit for the c-corp that I can no longer afford to pay. Approx. 600k.
Is this gonna create a problem for me @ 341 meeting when they ask for a copy of the reurn?????
I plan to file in march '08.
I'm worried about the answers I'll receive, but I'll ask anyway.
A few of my personal bills were paid through my C-corp, due to business related expenses charged on my personal credit card.
I paid myself only $7500 in '06 as an employee, and pid employee taxes etc. I have not paid myself a dime this year so far and have basically been paying my portion of the rent utilities etc through the c-corp direct. My '06 tax return claims approx $30k or so for the year. My wifes income included of course.
I'm going CH7 due to the personally guaranteed lines of credit for the c-corp that I can no longer afford to pay. Approx. 600k.
Is this gonna create a problem for me @ 341 meeting when they ask for a copy of the reurn?????
I plan to file in march '08.