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Elizabeth Fairbanks-Fletcher wrote a new blog post: Debt settlement vs. Bankruptcy: When forgiven debt is taxable income 1 year, 2 months ago · View
When individuals struggle with debt, two relief options considered are bankruptcy and debt settlement. As independent law firms, it is important to advise both small business owners and individual clients of the potential income tax ramifications of each choice. Since many debtors view bankruptcy as a last resort, they believe debt settlement is a better decision. What [...]

