Monthly Archives: August 2011

Arizona Leads Nation in Bankruptcy Filings

2009 was not banner year for the average Arizona resident. Nationwide, consumers and businesses alike declared bankruptcy  in numbers that made 2009 the 7th worst year for bankruptcy filings in history – an increase of 32% from 2008. But Arizona was the hardest hit state in the nation, with a jump in filings of a whopping 77% over the previous year. The bankruptcies in Arizona are caused by a variety of different factors, from adjustable rate mortgages to [...]

By |2011-08-28T08:18:34+00:00August 28th, 2011|Categories: Uncategorized|Comments Off on Arizona Leads Nation in Bankruptcy Filings

Arizona Residents Wondering if Bankruptcy Is Right for Them

A popular debt columnist, Mary Hunt, recently wrote an opinion column calling filing for bankruptcy  a “moral failing.” Her own personal story involves pulling herself out of $100,000 in credit card debt without declaring bankruptcy, but now she seems a little quick to judge others. Many personal finance experts recommend that if you can’t really pull yourself out of debt in two years you should start considering personal bankruptcy. And despite popular perception, the majority of people in [...]

By |2011-08-25T07:10:56+00:00August 25th, 2011|Categories: Bankruptcy|Comments Off on Arizona Residents Wondering if Bankruptcy Is Right for Them

Real Housewife Television Show Star Declares Bankruptcy Despite Lavish Lifestyle

The Real Housewives of New Jersey is a popular “reality” TV show that follows the fabulous lives of five fabulously wealthy New Jersey Housewives. But for at least one of the stars of the show, her luxurious lifestyle wasn’t all it seemed. After being featured on the show building and furnishing a brand new multi-million dollar mansion and treating herself and her kids to thousands of dollars in vacations, diamonds, and designer outfits, Teresa Giudice and her husband [...]

By |2011-08-22T08:07:05+00:00August 22nd, 2011|Categories: Uncategorized|Comments Off on Real Housewife Television Show Star Declares Bankruptcy Despite Lavish Lifestyle

Win the Lottery? Don’t Forget that Arizona Taxpayers are Required to Pay Taxes on Winnings

Everyone knows that they need to pay taxes on regular income,  but not everyone is as familiar with how the IRS treats windfalls – lottery and gambling winnings, inheritances, prizes, stock dividends and other unexpected and infrequent cash payouts. It may come as no surprise that the IRS requires taxpayers to pay taxes on all income, no matter what the source. While setting aside a percentage of gambling income for taxes may not be a big deal, the IRS [...]

By |2011-08-19T07:55:41+00:00August 19th, 2011|Categories: Uncategorized|Comments Off on Win the Lottery? Don’t Forget that Arizona Taxpayers are Required to Pay Taxes on Winnings

What Can Arizona Residents or Small Business Owners Do if They Owe Back Taxes to the IRS?

If you owe back taxes to the IRS, you are not alone. There are millions of people across the US who owe back taxes to the IRS. The vast majority of these people are either self-employed or small business owners who have fallen behind on their quarterly tax payments. According to a recent article on tax relief , if you are behind on your taxes and owe the federal government less than $10,000, the IRS will likely offer [...]

By |2011-08-16T07:51:25+00:00August 16th, 2011|Categories: Uncategorized|Comments Off on What Can Arizona Residents or Small Business Owners Do if They Owe Back Taxes to the IRS?

Phoenix Home Prices Continue To Fall

The Case-Shiller Home Price Index is the best-known measure of home price changes in the United States and it paints a gloomy picture of residential real estate in Phoenix through 2013. According to Case-Shiller, Phoenix prices have declined some 55 percent since their peak in 2006, a decline that places home values at the equivalent of prices on January 1, 2000. The future does not look bright. Prices are predicted to continue their decline, losing an additional 8.7 [...]

By |2011-08-15T17:20:41+00:00August 15th, 2011|Categories: Uncategorized|Comments Off on Phoenix Home Prices Continue To Fall

ATTENTION TAXPAYERS! Arizona Tax Amnesty Program Begins on September 1, 2011

The Arizona legislature passed the Arizona tax amnesty program bill in an effort to move toward balancing the state’s budget. Senate Bill 1616, which was approved on April 6, 2011, created a tax recovery program for the state. With the exception of estate tax and property tax, the Arizona tax amnesty program covers all local taxes and state taxes. The purpose of the program is to encourage $22 million into the state coffers through the collection of unpaid [...]

By |2011-08-05T16:59:33+00:00August 5th, 2011|Categories: Uncategorized|Comments Off on ATTENTION TAXPAYERS! Arizona Tax Amnesty Program Begins on September 1, 2011

Choosing the Right Arizona Tax Relief Attorney

When you have a tax debt or other problem with the IRS, you need the help of an experienced tax relief attorney to make sure you are treated fairly and get the best settlement possible. A quick Google search or look through the white pages will turn up hundreds of attorneys claiming to be the answer to your tax relief prayers; how do you pick the right lawyer to help you through this difficult time Step 1. Assess [...]

By |2011-08-03T13:33:34+00:00August 3rd, 2011|Categories: Uncategorized|Comments Off on Choosing the Right Arizona Tax Relief Attorney