Hey, my name is Todd and I'm in debt. I started a small business 4 years ago and have never paid income taxes just always done extensions with small payments. I am behind on my payroll taxes now by about 28k. I am behind on my Department of Revenue taxes by about 50k. I have one credit card that is in collections at 7k. I defaulted on a lease for a vehicle and they are trying to collect 11k. I had a yellow pages add and that is in collections for 3.5k. I was good with my department of revenue and payroll taxes for awhile, margins got tight, things slowed down I thought I could make up for it with more marketing and sales but just ended up shooting myself in the foot. So here I am. I am considering a Chapter 7. I need to get tax help. There is so much information here it is over-whelming. Please share any and all advice. I can't continue living like this. The calls and the letters....I am just so numb. Where do I go....what's the next step? Thank you all for reading and I sincerely appreciate your input.
Much Thanks,
Todd
P.S. I am closing the business and am either going to get a salaried job (if my credit doesn't prevent that) or going back to college with family that would back that.
Much Thanks,
Todd
P.S. I am closing the business and am either going to get a salaried job (if my credit doesn't prevent that) or going back to college with family that would back that.
Comment