Tax refunds, for most Americans, are a welcome boost to their financial picture every Spring. An Asheville, NC bankruptcy attorney can protect your refund from the reach of a bankruptcy trustee by properly using exemptions.
Your refund, like money in your bank account or the car is your driveway, is considered an asset you own. It is earned over the course of the previous year. So, the entire refund will be scrutinized to see if creditors have a right to a portion of it in your bankruptcy case.
By properly exercising your legal rights, most folks can use exemptions to protect the entire tax refund. Moreover, an experienced lawyer can help you adjust the amount of tax being withheld from your paycheck so you stop extending the government an “interest-free” loan over the course of the year. Doing so will put more money in your pocket throughout the year.
For those of you in Western North Carolina, I would be pleased to speak with you during a free, initial consultation.
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