How Bankruptcy Courts Calculate Self-Employed Income: Profit and Loss

Generally, when we have clients come in who are self-employed, we ask that they provide us with a profit and loss statement for their business. The bankruptcy court looks at the last six months before filing.  I’ll generally ask clients just to put together a simple revenue versus expenses, profit and loss sheet, and that’s basically how we come up with the income

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Contractor Fails to Perform

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