Chapter 7, Indian Reservation profit sharing, commission and back taxes?
azlatinamamacita asked:
When calculating income in the means test do you include Indian reservation profit sharing??? it is not recurring only twice a year if there is enough money to go out. This May we got $4000 but it is non recurring. I know under the Social Security Act (I may be mistaken of which act) that in bankruptcy pension, 401K loans and profit sharing is exempt and not conderside income so if that is the case do you even bother to report it. Also, I am paid only by commission, due to any injury and illness I have not made any commission since Feb. it was only $2000 I plan to file now or July do I include this and if so how do I calculate this in the means test since it is not recurring income???
My husband also owes about $20,000 in back taxes from 1999, 2000 and 2001 since is is past three years can this be included in chapter 7??? Thanks in advance. Please don’t ask me to seek a lawyer because at this time we can’t afford one but I will be looking at legal aid.
The profit sharing is from being a member of the tribe. The $4000 was gone before we could touch it due to bills, my husband had to pay back his job $1900, then we had to pay off some bills, we have 4 kids.
When calculating income in the means test do you include Indian reservation profit sharing??? it is not recurring only twice a year if there is enough money to go out. This May we got $4000 but it is non recurring. I know under the Social Security Act (I may be mistaken of which act) that in bankruptcy pension, 401K loans and profit sharing is exempt and not conderside income so if that is the case do you even bother to report it. Also, I am paid only by commission, due to any injury and illness I have not made any commission since Feb. it was only $2000 I plan to file now or July do I include this and if so how do I calculate this in the means test since it is not recurring income???
My husband also owes about $20,000 in back taxes from 1999, 2000 and 2001 since is is past three years can this be included in chapter 7??? Thanks in advance. Please don’t ask me to seek a lawyer because at this time we can’t afford one but I will be looking at legal aid.
The profit sharing is from being a member of the tribe. The $4000 was gone before we could touch it due to bills, my husband had to pay back his job $1900, then we had to pay off some bills, we have 4 kids.
October 28th, 2009 at 10:15 am
That is a tough question and really you should start looking for legal aid ASAP. I am very interested in finding out the answers to your questions. Is the profit sharing from the Indian Reservation for being an employee or from being a member of the tribe?
October 28th, 2009 at 3:53 pm
Even though you say you “can’t afford” an attorney, trying to file bankruptcy without one can be even more expensive. If you make a mistake in some of your declarations, you can get your case thrown out without being able to re-file.
What happened to the $4000 you got in May? That should have been more than enough to pay an attorney for a bankruptcy filing.