Taxes are a burden for everyone. When times are tough, it can be difficult to get the money to pay your taxes or find the time to file them. However, if you fail to file or pay your state income taxes, you could face serious consequences. It is important to act quickly to resolve your tax concerns so you can avoid penalties, interest and potential jail time.
At The Law Offices of Neil Crane, LLC, we understand how overwhelming delinquent Connecticut state income tax can be. Our tax relief attorneys can help you understand your options, devise a workable solution and guide you through the process of resolving your tax concerns with the Connecticut Department of Revenue Services.
Penalties, Interest and Criminal Charges for Delinquent State Income Taxes
The longer you wait to file or pay your Connecticut state income taxes, the worse your situation can become. First, penalties and interest will be added to the amount you already owe.
- $50 penalty for late filing
- Penalty of a percentage of unpaid taxes for late payment
- Interest charged for each month that you do not pay
This can add up quickly and lead to even more overwhelming debt if you do not take care of it right away.
Additionally, if the Connecticut Department of Revenue Services finds that you have willfully understated your taxes or blocked the department from collecting taxes, you can be charged a penalty that is equal to the amount you owe. This effectively doubles your taxes, which can be an enormous strain on any individual, family or business.
If you refuse to pay your taxes or keep tax records with malicious intent, you can be charged with criminal fraud.
Stopping Collection Actions
Connecticut will not simply sit idly by and wait for you to pay your income taxes. They can take action to collect the income tax they believe you owe. This includes:
- Wage garnishment
- Seizure of assets (known as levying)
- Placing a lien on your property
If the state has taken action against you to collect on your tax debt, we can help you. Since 1983, our attorneys have helped clients obtain debt relief from unpaid state income taxes in Connecticut. You don’t need to handle your tax debt issues alone. We will stand by your side and provide you with the advice and representation you need when facing a collection action before the Connecticut Department of Revenue Services.
We will walk you through your legal options, including:
- Submitting an offer-in-compromise if you cannot afford to pay the taxes
- Obtaining an installment agreement so you can pay your tax debt over time
- Submitting a penalty waiver if you had reasonable cause not to pay or file your taxes
Our experience extends beyond handling tax debt issues. Our attorneys focus our practice on handling all types of debt relief, including bankruptcy, modifications and other solutions. If your debts are out of control, bankruptcy can help you to stop collection actions, including actions by the Connecticut Department of Revenue Services, and get your finances back under control.
Contact Our Connecticut Back State Income Tax Attorneys
Turn to our firm for experienced guidance with any tax debt issues you face. Call us today at 203-230-2233, or contact us online for a free initial consultation. We have office locations in Hamden, New Haven, Bridgeport, Ridgefield, Waterbury and Rocky Hill.
Talk With a Lawyer About Your Struggling Business
It is rare that a business struggles and does not leave its mark on the business owners’ personal life. Because small business debt is personally signed, there is an incredible link between business debt and personal assets. Our many years of experience with small business reorganizations can be of invaluable assistance when your insurmountable business debt is threatening your personal finances.
At The Law Offices of Neil Crane, LLC, we understand that the financial problems of many small businesses have a personal component, and that finding successful debt relief solutions means being able to solve both personal and business challenges. With extensive experience in small business debt relief, our Connecticut attorneys know that successful resolution depends on our looking at the broader picture.
Saving Your Small Business: Start by Calling
At The Law Offices of Neil Crane, LLC, representing small to mid-sized businesses through all types of small business turn-arounds has been a focus of our law practice since the firm’s inception in 1983. Throughout this time, we have built a reputation for serving our clients well.
When your business is in trouble, personally dealing with your credit problems takes your focus away from your business. When you come to us for legal counsel in resolving your business debt problems, we can help you put an end to creditor calls, stop collection efforts initiated through lawsuits and deal with other business debt collection problems. This enables you to focus on the things that really matter.
Chapter 11 Attorneys Serving Businesses Throughout Connecticut
From our offices in Hamden, New Haven, Bridgeport, Waterbury, Rocky Hill, and Ridgefield, our business bankruptcy lawyers work with small to medium-sized businesses throughout Connecticut in devising solutions to overcome insolvency problems. We assist small business owners with strategies including:
Learn more about how our attorneys can help you obtain the debt relief necessary to save your small business from insolvency.
Small business bankruptcy can be the lifeline you and your business need.
Our commitment to clients is reflected in the fact that we do not utilize voice mail or answering machines. People who call us during business hours speak with a live person — not an automated answering system. Messages left for our lawyers are returned promptly, and people speak directly with a lawyer when they call.
Debt Relief to Save Your Small Business
The backbone of Connecticut’s economy is the small business just like yours. Unfortunately, with the proliferation of easy access to consumer debt, many small businesses fail as a result of increased debt burdens that negatively affect the profitability of the business and the personal debt load of small business owners.
Serving clients from several office locations throughout Connecticut, The Law Offices of Neil Crane, LLC, is dedicated to assisting Connecticut small business owners who confront personal and business debt problems and need to obtain solid professional advice on debt relief in order to save their small business and personal finances.
Small businesses have become significantly beholden to high interest consumer debt issuers like credit card companies and personal signature loans. Unlike prior years when small businesses derived most of their capital from local banks at reasonable commercial rates, the average small business today is capitalized by high interest institutional lenders like credit card companies and big banks. These types of lenders pay little attention to providing small businesses with the right types of debt that properly fit the needs and resources of a small business.
As a consequence, it’s easy for small businesses to get access to the wrong types of credit and then falter under the weight of insurmountable monthly payments. This overburdening debt can make even the best of small businesses go bad — and when it goes bad in your small business, it plays out badly at home. The good news is that these types of debts are very negotiable.
The Good News for Small Businesses Facing Debt Problems:
- Small business debt is often unsecured.
- Small business debt is very negotiable.
- Tough economic times make small business creditors even more negotiable.
- Most small businesses are built on the reputation and expertise/knowledge of owners and key employees. No creditors can take who you know or what you know.
- Solving small business problems gives owners a second chance and the knowledge to forever avoid similar mistakes in the future.
Small Business Reorganization Strategies
As experienced Bridgeport small business bankruptcy lawyers, we can advise you of the multitude of debt relief strategies available to small business owners, explain the advantages of each option and guide you through the implementation of these debt relief solutions. Each strategy offers unique benefits for small business owners, such as:
- Out-of-court solutions:Allows for modifications, reduction of overall debt, and debt service without use of a court
- Court reorganizations/Chapter 11 bankruptcy:Court protection from past bills, and monthly payments allow for modification or elimination of secured and unsecured tax debt
- Small business Chapter 11 bankruptcy:Fast, affordable, allows you to keep your assets, allows special treatment for important vendors
Personal Solutions That Save the Business
Given the connection between personal signatures and business debt, resolving personal debt problems can often solve business problems. Modern day financing reliance on personal pre-approved debt to capitalize businesses has left experienced legal practitioners with a multitude of great options for solving small business problems linked to personal signature consumer debt. Never have more alternatives, options or opportunities been available to borrowers with experienced counsel. The combination of consumer debt and low values has made great opportunities available now with recoveries and future appreciation in values belonging solely to the small business and its owners.
Connecticut Chapter 11 Reorganization Lawyers With the Experience to Help Small Business Owners Obtain Debt Relief
Connecticut is a state of hardworking small business owners who work tirelessly to make their businesses a success. But sometimes even more working hours won’t solve the problem. We can help. We’ve assisted and reorganized hundreds of Connecticut small businesses just like yours, providing debt relief, allowing struggling businesses to return to profitability and thrive in a way that protects the jobs of employees and the lives and assets of small business owners throughout Connecticut.
Contact Our Small Business Bankruptcy Debt Relief Lawyers in Connecticut
No matter how your business is structured, whether you have organized as an Inc., d.b.a. LLP or an LLC, Chapter 11 bankruptcy may be a solution for you. Get started by calling us for a free consultation. Call us today at 203-230-2233, or complete our online contact form to discuss your questions and concerns with an experienced attorney.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
What Happens at Work Plays Out at Home for Small Business Owners
Many Connecticut small business owners find themselves faltering under the weight of credit lines, credit cards and even second mortgages that jeopardize their homes in an effort to support their small businesses. Connecticut small business owners continually use their homes or credit cards to support their small business needs. This creates a dangerous connection between business success and personal financial failure. Business debt almost always involves personal signatures that create personal liability for all types of business obligations. What happens at work plays out at home for small business owners.
It will take an experienced small business bankruptcy lawyer to resolve the problems that have already occurred in order to find a solution that works to reduce or eliminate the debt burdens of your small business. Mistakes can happen easily. Solutions require experienced legal counsel with the knowledge and commitment to save your business and your family.
Personal Solutions Can Save Your Small Business
Given the connection between personal signatures and business debt, resolving personal debt problems can actually help to solve small business debt problems. Because of the connection between personal debt and business lending, our experienced legal professionals know how to properly utilize a variety of legal avenues to solve business problems by relieving personal debt. Never have more alternatives, options or opportunities been available to borrowers with experienced counsel. At the Law Offices of Neil Crane, we understand the problems and solutions for Connecticut small business owners.
The Good News for Small Businesses Facing Debt Problems:
- Small business obligations are often unsecured debt, which is easily subject to elimination, reduction or negotiation.
- In tough economic times, small business lenders don’t often seek to collect from business assets.
- Knowledge is power: Most small businesses are built on the reputation and expertise/knowledge of owners and key employees. No creditors can take who you know or what you know.
- Small business problems don’t often reoccur. Solving small business problems gives owners a second chance and the knowledge to avoid similar mistakes in the future.
To learn more about avoiding common pitfalls and maintaining financial success for your small business, contact the small business debt relief attorneys at the Law Offices of Neil Crane.
Get the professional service and advice that you and your small business deserve. Call the experienced small business debt solutions attorneys at the Law Offices of Neil Crane at 203-230-2233, or fill out our simple online Contact Form.
Business problems usually begin small. In many cases, the first symptom of business financial problems is increased borrowings from consumer credit cards, business credit cards, credit lines and other forms of business and personal borrowing. Ultimately, these practices lead to unmanageable monthly payments. Often you will experience a serious downturn in any ability to take home a personal paycheck, as business expenses exceed business income.
All small-business owners know the feeling of being the last to be paid, and sometimes this means no pay at all. The result of this cycle is personal debt, decreased house equity, pension liquidation and other permanent problems that are avoidable with the assistance of experienced attorneys who know the special problems faced by small businesses.
We understand the symptoms of small-business problems and have developed proven solutions for thousands of small-business owners throughout Connecticut since 1983.
If you are beginning to face overwhelming debt problems or beginning to notice any of the following symptoms, our experienced Connecticut lawyers at The Law Offices of Neil Crane, LLC, can help you evaluate and plan for a solid financial future.
Contact us today to schedule a free initial consultation. We take the time to discuss your full financial situation, understand your objectives and work diligently toward resolution. Our attorneys serve clients at offices across the state, including Hamden, Bridgeport, Waterbury, Rocky Hill and Ridgefield.
Symptoms of Business Financial Problems:
- Borrowing from high-interest personal and business credit cards
- Inability to reduce debt obligations
- Inability to service debt obligations, resulting in late fees
- Increasing time spent dealing with creditor issues
- Phone calls from creditors
- Using personal credit lines and your house or pension to put money into your business
- Late payments and default on household bills
Increasing debt burden is one of the leading reasons that small businesses fail. Profitability disappears slowly, revenues begin to diminish and business owners take on more and more debt in an attempt to save the business through credit burdens they hope to pay off shortly. This debt service reduces profits, and when profits do not return, the debt load quickly becomes overwhelming.
With experienced counsel, the most overwhelming business problems can be solved on the business and personal level without any loss of assets or business interruption.
Rather than waiting until it is too late by allowing high-interest debt to ruin your business, seek experienced counsel from knowledgeable bankruptcy attorneys. You have a multitude of options to improve your business by reducing debt service outside of bankruptcy, in Chapter 11 small-business bankruptcy and even in filing personal bankruptcy through Chapter 7 or Chapter 13.
Contact The Law Offices of Neil Crane, LLC
We offer a free initial consultation. Don’t wait for symptoms to become uncontrollable illness. Call us today at 203-230-2233, or complete our online contact form. When you call us, you will always speak to an attorney. We do not use voicemail. We are committed to providing excellent service, legal protection and the antidote for business financial problems.
If one of the underlying causes of your business difficulties is overwhelming payments on past borrowings and keeping current with debt obligations, there are a number of significant options that can assist you in returning your business to profitability.
Learning the root cause of your business’s struggling financial condition is the first step to determining the best options and alternatives to address and resolve small business financial problems.
Analyzing your business’s overall financial picture in detail will provide a clearer picture of the true nature of the problems. Many small business owners can benefit greatly from the outside advice of professionals experienced in providing solutions for small businesses with financial problems.
Analyzing Small Business Financial Solutions – Professional Guidance:
Determining the nature of your business’s specific financial problem allows you and a qualified turn-around professional to choose from the best solution alternatives available.
- Analysis of the specific causes underlying your business’s financial distress. Debt-related problems have a variety of proven solutions.
- Listing Alternatives: Creating the proper alternatives for your business recovery provides options for success.
- Choosing Solutions: Once the problem is evaluated, and the list of answers is available, our specialized business attorneys can assist you in choosing the correct plan of action.
Understanding the interaction between business debt, personal assets and personal obligations requires specialized legal knowledge and decades of experience.
A customized and detailed plan can return your business to financial health. With qualified and experienced professional assistance, business problems are extremely solvable.
You know your business, but may not know how to best fix it. Business financial problems are unique and specific, and best solved by professionals who specialize in business turn-arounds. We know the choices, steps and factors most critical to small business recovery. Attorney Neil Crane has a history of success with a myriad of different business debt relief options.
For a free consultation, call the dedicated small business solutions attorneys at the Law Offices of Neil Crane at 203-230-2233 for a free consultation.
Determining the Nature of Your Small Business Problem
Discerning the cause of your business’s struggles is the first step to authoring a workable solution. As small business financial attorneys, we know how to get to the root cause of your business’s specific problems. While all businesses are different, business financial problems often have common symptoms and common solutions. Striking a balance between proven solutions and the specifics of your unique business takes the breadth of knowledge that comes from providing over 30 years of legal solutions for business financial problems of all types and sizes.
Our prompt advice and customized services will immediately get you back to what you do best – running your business. Your business needs and deserves your full attention. By intervening on your behalf, we get your efforts back to your highest priorities. Businesses and owners that get immersed and ensnarled in past problems don’t compete or succeed.
Addressing Different Forms of Business Debt
Different types of debt serve varying degrees of attention and treatment. Understanding different types of debt and prioritizing between varying kinds of obligations assures the maximum proper use of limited resources and the maximum opportunity for future success. Not all types of debt are created or treated equally. Classifying and making proper choices between different obligations is critical to all small business owners in trouble.
Most business owners have little or no experience in the steps and options available to conquer often overwhelming business financial problems. While all business owners work hard, very few are schooled or knowledgeable in the legal options and avenues existing to solve pressing small business debt issues. Seeking qualified advice is the first and hardest step in every business turnaround. Every business is unique, and every business problem is important.
Helping You Keep Your Eye on the Ball
In Connecticut, we put our heart and soul into our business and your business deserves the best chance for success and the best legal counsel available. Addressing your business problems alone, without the assistance of experienced experts is the most common mistake made by business owners in trouble.
Collection pressures, phone calls and the continued stress of “being behind” diverts attention from truly pursuing the needs of a successful business. No business can succeed if the owner’s attention, efforts and expertise is wasted on the daily barrage of continual financial problems. The first step in our process for successful business turnarounds is to “free” the small business owner to concentrate on the specifics and growth of their business. We need to get your expertise back to what you do best.
Small business owners with financial problems need to work smarter, not harder. Our knowledge and experience assures that you’ll work smarter, not harder – better, not more. Learn how to work smart and make correct decisions. Seek professional help from the knowledgeable, experienced attorneys at the Law Offices of Neil Crane. We’ve been there before.
Turning Small Business Financial Problems into Small Business Financial Solutions
To understand how to resolve your small business financial problems, call the experienced small business financial solutions attorneys at the Law Offices of Neil Crane at 203-230-2233. We offer a free consultation and careful analysis of your circumstances.
At the Law Offices of Neil Crane, we’ve reviewed and solved thousands of basic Connecticut small business problems and turned them into Small Business solutions that work.