The Top 10 Consequences Of Tax Debt
January 29, 2024
Facing tax debt can be intimidating, leading some to avoid dealing with it altogether. But ignoring the issue only makes things worse. The IRS has various methods to collect what you owe, like placing liens on your property, seizing assets, or garnishing your wages. Ignoring your tax bill means penalties and interest will keep adding…
Understanding Depreciation Methods For Business Assets
April 26, 2024
What is Depreciation? Depreciation is a fundamental concept in business accounting, essential for accurately assessing the value of assets over time. When a company invests in assets such as machinery, equipment, vehicles, or buildings, it expects to derive value from them over a period of years, rather than all at once. Depreciation enables businesses to…
Can Debt Collectors Leave Voicemails?
April 24, 2024
In today’s complex financial landscape, where consumers navigate various financial obligations, understanding the intricacies of debt collection practices becomes paramount. Among the myriad questions that arise, one common inquiry concerns the permissibility of debt collectors leaving voicemails regarding outstanding debts. This comprehensive guide delves into the multifaceted aspects surrounding this question, offering insight into the…
When the IRS Pursues Criminal Charges: Things You Need to Know
April 9, 2024
The Internal Revenue Service (IRS) is responsible for enforcing tax laws in the United States. While most tax issues are civil matters that can be resolved through audits, assessments, and payment plans, there are instances where the IRS may pursue criminal charges against taxpayers for serious violations. Understanding when the IRS pursues criminal charges is…
What Is Unsecured Debt? Types And Examples
April 5, 2024
Ever wonder what the difference is between credit card debt and a mortgage? It all comes down to collateral. In the world of finance, unsecured debt refers to loans that aren’t backed by a physical asset like a car or house. Secured debt, on the other hand, uses an asset as collateral, meaning the lender…
Statute Of Limitations On Debt In North Carolina (NC)
April 5, 2024
If you’re burdened by unpaid debts, you may be curious about the timeframe creditors have to pursue them. This is where North Carolina’s statute of limitations on debt comes into play. Each state has its own laws dictating the duration within which creditors can legally chase unpaid debts. In North Carolina, the statute of limitations…