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Employee used business credit card and cannot pay us back for personal expenses, what would a tax auditor do?

Financial Advisor — Sun, 07 Feb 2010 15:04:48 +0000

Several thousand was spent. We did not file charges, but just fired her. What would the consequences of an audit be?

does your personal credit card usage have anything to do with tax return?

Financial Advisor — Sat, 06 Feb 2010 20:52:47 +0000

like minimum payment.

What are tax consequences for me when corporation goes under and you have personal guarantee on credit card?

Financial Advisor — Tue, 02 Feb 2010 20:51:59 +0000

Should I continue making payments on a Credit Card Settlement?

Financial Advisor — Sun, 31 Jan 2010 05:03:42 +0000

I owed $5500 to a credit card. I was trying to pay it off in full, but between high interest rates (22%), and the fact that I am over the limit ($1500 over), i decided to settle. They offered me a settlement of $2600, which I have to pay over a 6 month period. Now, upon looking on yahoo answers, everyone is saying that settling is the same as not paying it at all. Should I continue to pay on my settlement? If it is going to look the same overall, then there is no need to keep paying, however I am trying to fix my credit as best I can. Any advice would be appreciated!!

How long should I keep personal invoices (not tax related), Example: Credit card bill, home phone bill…?

Financial Advisor — Sat, 30 Jan 2010 20:55:38 +0000

I was given a good credit card settlement. What should I do?

Financial Advisor — Sat, 30 Jan 2010 06:27:52 +0000

I had a chargeoff with a credit card and now there is a collection agency taking care of it. The man offered me a settlement of half of what I owe.

3 payments in 3 months and I'm done with this he said.

What should I do next before I set up the payments or mail in any money orders?

What should I request from them? something in writing.

Please give me exact good advice as of what to do.

I don't wanna pay this amount and find out he lied about this settlement.

what after receiving Credit card Settlement letter?

Financial Advisor — Thu, 28 Jan 2010 12:55:31 +0000

Can any one let me know as i have already received settlement letter for my credit card due payment…but still i'm receiving messages as well as call to pay the remaining amount (difference between actual payment and settlement).. what should i do?

Is interest on personal credit card used for business tax deductible?

Financial Advisor — Thu, 28 Jan 2010 04:14:26 +0000

I have used about $60,000 in cash advances to fund my business from my personal credit cards. Can I deduct the interest as tax deductible on my taxes?

Has anyone had luck with debt settlement companies for credit card debt?

Financial Advisor — Wed, 27 Jan 2010 21:14:00 +0000

I am in Ohio and do not want to file chapter 13. Looking to make settlement to credit cards. I am looking for reputation companies that do credit card settlement. What do these companies charge. 50,000 in credit card debt at 23% apr.
Do not want to go to consumer counseling, we can get a loan from family for 25,000 to pay off total. Can not afford to pay anymore. We need to help our son who has some medical issues.

Can You Please Tell Me How to Reach to a Credit Card Settlement?

Financial Advisor — Wed, 27 Jan 2010 21:04:20 +0000

Hey Everybody, I have been struggling to reach out to my credit card debt settlement for over an year now, but I haven't gained any success yet, I would really appreciate if someone can let me know of any good company that can help me out instantly. Thanks in Advance Folks, Please Reply!