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cash on hand for tax's and other

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    cash on hand for tax's and other

    We get a disability check each month and we do not have our taxes escrolled so each week we take out cash money to save for the end of the year to pay taxes.

    How does the trustee look at this? Should we open a separate bank account and just explain it?

    #2
    You well need to have an exemption to cover the amount you have set aside. the trustee will see it as an asset if you don't
    Chapter 7 07/30/2008
    341 09/17/2008
    Discharge 11/21/2008

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      #3
      If you know you will owe money for federal taxes you could also just send in money quarterly.

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        #4
        Thanks for the replay so quickly

        are you allowed to have money you put in an IRA set aside or not?
        Last edited by mintz; 02-02-2009, 10:28 AM. Reason: add to post

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