In the March 29 issue of InformationWeek its editor in chief Rob Preston argues that our broadband policy is wrong as a country and we should let the marketplace rather than government mandates help expand broadband. He says that our marketplace has made us number 3 in broadband readiness and that other countries where the government has taken a role are not doing well.
Do go and get high speed internet because it is deductible in the means test as a telecommunications expense. Anything above basic phone service that is necessary for you or your family’s health or welfare is deductible. Broadband is important to use for job search and dial up internet is too slow for most uses these days. Additionally with dial up only one computer can be on the internet at the same time. If you get a wireless router for about forty dollars then you and your spouse can be working on job searching on two different computers while your kids are doing there homework from school online on theirs all at the same time. Become part of the 21st Century telecommunications revolution and deduct it on the means test.
April, 2010
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While there is criticism of our nation’s broadband policy, it’s still deductible in the bankruptcy means test.
Saturday, April 3rd, 2010Health Insurance CEO: Premiums will go up – Still deductible in bankruptcy means test
Saturday, April 3rd, 2010In the April 5 issue of Bloomberg Businessweek, Aetna CEO Ron Williams was asked if premiums would go up as the result of health care reform. Williams said that absolutely they would go up and “some” of the things driving those are the additional taxes on the industry.
That was the bad news your health insurance premiums will go up, but they good news is that they are still deductible in bankruptcy in the means test. In Chapter 7 you can buy health insurance right before filing or if your premiums go up under both situations and still deduct the new higher amount in the means test. For those in Chapter 13 you can even buy it after you file and count the increased amount as an expense deduction.
Supreme Court rules that Chapter 13 plans that discharge student loans are binding even if there were legal errors in the process
Saturday, April 3rd, 2010Recently in United Student Aid Funds v. Espinoza, 08-1134, the Supreme Court Ruled that a Chapter 13 plan is binding on a creditor with actual notice even if it is legally defective. In Espinoza the Court ruled that the plan was binding even though a separate lawsuit should have been filed. The main lesson for creditors and benefit for debtors is that confirmed Chapter 13 plans are binding even if there are procedural irregularities. This is good for us!
