Ch7 - income limits and means

[Tom_Mi]

Hi,
I've confused myself regarding income/means and ch7.

My losses (business) should bypass the means testing, but my income (85-88k) is a few thousand above the margin for my family size. It sounds like my "budget" will determine where I stand here. How does that work?

What do I need to demonstrate? That I'm spending all 88k?

I'm certainly doing that (and a little more -- for now) but it's obviously with some category budget amounts greater than the IRS Standards.

If IRS Standards for a family of 5 come out at about 60k, how would anyone at 75k or 80k "fit"?

[soleprop]

hi - my understanding of ch7 nonconsumer cases is that you are not held to the expense limits like people who are filing consumer cases. there's a member on the forum, 'biotechsolutions' who has posted about this - search the forum for his posts and you should find more about this. i'd help you with the search but i'm under the gun at work.