After years of steady growth, the value of taxi medallions in Greater Boston has begun to decline rapidly. Much of this is due to competition from ride share companies, such as Uber and Lyft. Many independent medallion owners funded their…
Category: Chapter 11
Chapter 11 Bankruptcy May Be the Best Way to Handle Employment Tax Debts
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As most small business owners know, there are various business taxes a company is required to collect, account for, and pay over to the taxing authorities. In Massachusetts, businesses are required to withhold income for both state and federal income…
Chapter 11 Bankruptcy Reorganization in a Nutshell
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Unlike in Chapter 7 and Chapter 13 bankruptcy, creditors have a vote on what happens in Chapter 11. Chapter 11 bankruptcy is sometimes used by individuals who are over the Chapter 13 debt limits, but most of the time businesses…