Reduce Your Walworth County Real Estate Taxes

1. Obtain a copy of your property tax information from the local assessor’s office. Review the property information for errors. Our Walworth County real estate attorney suggests you discuss the discrepancies with the tax assessor. The township and tax assessor are obligated to correct any mistakes and possibly perform another assessment. This is a very simple task that can help reduce your Walworth County real estate tax burden.

2. During open book (when you are able to talk with the assessor), review comparable homes in your neighborhood. You may find errors that can reduce your tax bill. For instance, you may find that your neighbor’s home is assessed at a value far below the assessed value of your home and your neighbor’s home has more square footage, a bigger garage, and a swimming pool. This is something you surely want to bring to the tax assessor’s attention.

3. Keep the outside appearance of your home ugly. It doesn’t get any easier than that. The more pleasing your home is to the eye, the higher your assessed value may be. The higher your assessed value, the higher your Walworth County real estate taxes. Your home will be compared to other homes in the general vicinity, so reject the urge to spruce up your yard or make any physical improvements until after your home assessment. Our Walworth County real estate attorney wants you to realize that even though assessors follow guidelines, curb appeal will play an important role.

4. In order to keep Walworth County real estate taxes down, don’t build on your property. This includes: additions, decks, garages, sheds, pools, or any other permanent fixture. If you need a deck, consider a floating deck or evaluate how much your property taxes will increase prior to construction.

5. Give your assessor the full guided tour of your home. Our Walworth County real estate attorney suggests that you don’t allow the assessor to walk around your home unguided as he or she may only notice the valuable and good aspects of your home. If you walk your home with the assessor, you can not only point out the good aspects, but also all the flaws, such as: leaky roof, warped walls and ceilings, broken tiles, non-functioning fireplace, etc.

6. If you do not allow access to the inside of your home, you could end up with a bigger property tax obligation. Some cities and towns will assess your home at the highest possible value because you did not grant full access to the inside of your home. If this happens to you, you’ll end up disputing the assessment and ultimately allowing the assessor inside. Therefore, you might as well allow the assessor inside your home the first time.

Contact Our Walworth County Real Estate Attorney

Finding the right balance between curb appeal, home improvements, and reduced tax obligations can be tricky. However, remember these little things that can be done to help reduce your Walworth County real estate tax obligation. If you have questions regarding your Walworth County real estate taxes or other real estate issues, contact our Walworth County real estate attorney. Our Walworth County real estate attorney can assist you with a variety of real estate matters, such as: landlord/tenant issues, document drafting, document review, real estate agent assistance, real estate sales, new home construction, deed preparation, and zoning issues. You can reach our Walworth County real estate attorney by phone at 262-725-0175 or by email via our website’s contact page. Wynn at Law, LLC has real estate law offices located in Lake Geneva, Delavan and Salem, Wisconsin.

*The content and material on this web page is for informational purposes only and does not constitute legal advice.

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File a Walworth County Chapter 7 Bankruptcy After Filing Income Taxes

Our Walworth County bankruptcy attorney suggests filing bankruptcy after filing your income taxes. In most cases, this is the best scenario. If you file a Walworth County bankruptcy before you file your 2015 income taxes, your tax refund will become property of the bankruptcy estate and distributed among your creditors. Unless your 2015 income tax refund is exempt, you will lose it.

How can you file a Walworth County Chapter 7 Bankruptcy and Keep Your Income Tax Refund?

There is a way. One thing our Walworth County bankruptcy attorney needs to make clear is that you cannot receive your income tax refund, spend it on frivolous items, and expect to keep it. If the bankruptcy trustee knows you received an income tax refund check, he or she will ask where it went. If you spent the check on luxury items, you may have to repay the amount spent to the bankruptcy trustee. This being said, your 2015 income tax refund must be spent on necessities. You will be allowed to keep your income tax refund if you file your income tax return before filing for bankruptcy and spend the refund on life necessities, such as: groceries, medical items, car repairs, etc.

You can are also allowed to pay your bankruptcy attorney fees with your income tax refund check without having to repay the money back to the bankruptcy trustee. For this reason, tax season is one of the best times to file for bankruptcy. You can easily afford your bankruptcy attorney fees by using your income tax refund. You won’t have to struggle by taking money out of your weekly checks.

File a Walworth County Chapter 13 Bankruptcy After Filing Income Taxes

When filing a Walworth County Chapter 13 bankruptcy, all income tax returns over the past four years must be filed before the meeting of creditors. In this situation, you have no choice but to file your 2015 income taxes before filing a Walworth County Chapter 13 bankruptcy.

File a Walworth County Bankruptcy After Filing Taxes

No matter which type of bankruptcy you file, Chapter 7 or Chapter 13, the bankruptcy trustee will ensure all required tax returns have been filed, this year and previous years. If you have any unfiled tax returns, the bankruptcy trustee may think you are hiding financial information. This will not only delay your bankruptcy process, but it will also cause the bankruptcy trustee to dig deeper into your case. Always be up front and honest will your Walworth County bankruptcy attorney and the bankruptcy trustee.

Schedule a Free Bankruptcy Consultation with our Walworth County Bankruptcy Attorney

If you are considering a bankruptcy this year and have questions, please contact our Walworth County bankruptcy attorney. Wynn at Law, LLC offers free, in-depth bankruptcy consultations. Our Walworth County bankruptcy attorney is here to listen, advice, and help you during your financial difficulties. You can reach our Walworth County bankruptcy attorney by phone at 262-725-0175 or by email via our website’s contact page. Wynn at Law, LLC has bankruptcy offices conveniently located in Salem, Delavan, Muskego, and Lake Geneva, Wisconsin.

Find out if you qualify for bankruptcy.

Click Here to Get a Free Bankruptcy Assessment
from Wynn at Law, LLC

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It’s Free. It’s Easy.

*The content and material on this web page is for informational purposes only and does not constitute legal advice.

The post When Should I File For Bankruptcy – Before or After Taxes? appeared first on Wynn at Law, LLC.

What is a Walworth County Short Sale?

A short sale means exactly what it sounds like, your home is being sold for less than the amount owed. If you are unable to pay your mortgage payments, your mortgage lender can approve a short sale. Your home will be listed for sale at an amount less than what is owed to your mortgage lender. Since your mortgage lender will be receiving less than the amount owed on the mortgage, the lender must approve a short sale before it can take place. Your lender will decide if a short sale is a better option than foreclosing on your property.

Is a Walworth County Short Sale a Good Option?

If you are facing the loss of your home to public auction this year due to three years of nonpayment of real estate taxes, a short sale is most likely a better option for all parties involved. A short sale benefits a homeowner by avoiding foreclosure, and public auction. A homebuyer will benefit from a short sale because they will purchase a home at a lower cost and avoid the risks associated with foreclosed properties. A Walworth County short sale is a good option for your mortgage lender since they will save time, hassle, and money involved with foreclosure, the legal process, and the resale of your property. Other parties associated with the short sale of your home will earn a profit from the sale, such as real estate agents, mortgage brokers, homeowners insurance companies, title companies, inspectors, and appraisers.

Please remember, if your home is sold by way of a short sale before the home is seized by the county for nonpayment of real estate taxes, you still owe the county real estate tax money. You may not have a seized home on your record because the home is no longer in your name for the county to seize, but you are still liable for the tax monies due. If the tax monies due are in an amount you are unable to pay, other options may be better for you based upon these circumstances, such as bankruptcy. You should consult with an experienced Walworth County real estate attorney to discuss your best options and all possible scenarios. For example – What if your home doesn’t sell in time?

Contact Our Walworth County Real Estate Law Office

If you are in danger of losing your home this year, please contact our Walworth County real estate law office. A Walworth County short sale may be a good option; however, it is only one option. Contact our Walworth County real estate attorney to discuss all options available to you based upon your particular situation. We can provide answers to all of your questions and ease your concerns. Contact our Walworth County real estate office by phone at 262-725-0175 or by email via our website’s contact page. Wynn at Law, LLC has real estate law offices located in Delavan, Lake Geneva, Muskego, and Salem, Wisconsin.

*The content and material on this web page is for informational purposes only and does not constitute legal advice.

The post Short Sale Option If You Can’t Pay Your Taxes appeared first on Wynn at Law, LLC.

1. If you are filing your income taxes in person with a CPA or another business, such as H&R Block, be sure to bring photo identification, such as your Driver’s License and Social Security cards for all adults.

2. You will need to know the date of birth and social security numbers for everyone in your household. This includes your spouse, children, and any other person living with you for whom you provided care during the tax year.

3. Current address and relationship to you of all individuals you provided care to during the tax year.

4. W-2s from every job held during the tax year for all individuals in your household.

5. Any 1099s received by any person in your household. Common 1099s indicate interest earned, refunds received, social security, loans, reimbursements, last year’s State of Wisconsin refund, winnings, etc.

6. Any 1098s received. 1098s report payments you have made, such as school loans.

7. Any 1095 received showing credit from the healthcare.gov marketplace (health insurance).

8. Statements from your bank accounts showing savings and investments.

9. Your bank’s routing number and the account number which you would like your refund direct deposited in, if you choose the direct deposit option.

10. Last year’s Federal and Wisconsin tax returns, if you have them.

11. Any property tax paid on your home.

12. Home improvement expenses, if deductible. Sometimes certain energy star appliances, doors, and windows are deductible.

13. Medical expenses and miles driven for medical purposes (to and from your doctor). This includes dentist, eye doctor, general practitioner, hospital expenses, specialists, prescription medications, over the counter medicine, dietary food items, and medical equipment.

14. Interest paid on your mortgage.

15. Childcare expenses. This pertains to daycare expenses you pay a childcare provider. You will need their tax information.

16. Business expenses, such as required uniforms, meters paid for parking, miles driven, hotels, cabs, airplane tickets, etc. If self employed, this also includes office equipment purchased, insurance paid, advertising expenses, office supplies, etc.

17. Moving expenses, if related to your job.

18. Amount or value of charitable donations given.

19. Gambling losses.

20. Cost of last year’s income tax return filing.

21. Any vehicle sales tax paid.

22. Mortgage points.

23. Hobby expenses.

24. Out-of-Pocket expenses paid by teachers for items used in the classroom.

25. Expenses related to job searching, such as the cost of printing resumes.

Remember, you must keep a copy of your tax records for seven years. Your Federal and Wisconsin income tax returns must be postmarked by April 15, 2015.

There are two new features available from the IRS this year. First, the IRS allows you to get your tax transcripts for free online. To get a free transcript online, you must have a Social Security Number and access to your email account to confirm your email address. Then, you’ll need to answer some personal, financial, and tax related questions to verify your identity.

The second new featured offered by the IRS this year is if your debt to the IRS is less than $25,000 total, you can get set up an installment agreement online to make monthly payments. Before applying for any payment agreement, you must file all required tax returns.

If you have questions regarding Federal or Wisconsin income tax returns, bankruptcy, or debt repair, please contact Wynn at Law, LLC. Our expert debt attorney can answer your questions. Wynn at Law, LLC has offices in Lake Geneva, Salem, and Delavan, Wisconsin. You can reach our Wisconsin tax attorney by phone at 262-725-0175 or by email via our website’s contact page.

*The content and material on this web page is for informational purposes only and does not constitute legal advice.

The post Information and Documents Needed to File Your Federal and Wisconsin Income Taxes appeared first on Wynn at Law, LLC.

Criteria for Discharging Income Tax Owed to the IRS by Filing a Kenosha Bankruptcy

1. The income tax debt owed to the IRS must be based upon income, such as federal, state, or gross receipt taxes.

2. The income tax debt due and owing must have occurred from a tax return filed within the last three years. This date includes any extensions to file.

3. If you filed an IRS Substitute Tax Return, it must have been signed; otherwise, the debt is not dischargeable.

4. Your income tax return must have been filed on time and at least two years before filing your Kenosha bankruptcy. The tax return must have been properly signed, mailed, and completed.

5. You must be assessed the IRS income tax debt at least 240 days before filing your Kenosha bankruptcy. State and federal laws on when a tax is “assessed” are different. Contact your Kenosha bankruptcy attorney to discuss what “assessment” means in Wisconsin.

6. There was no willful, knowing intent to evade taxes or fraud the IRS. Note: Not paying your taxes is not tax evasion. Always file your tax return on time, even if you cannot pay the amount owed.
It is also important to note that you can discharge interest owed on your IRS income tax debt if the tax debt meets the criteria for discharge. You can possibly discharge penalties even if the income tax debt does not meet criteria for a Kenosha bankruptcy discharge. Speak with your Kenosha bankruptcy attorney to learn more about interest and penalties owed to the IRS.

You can stop the IRS from garnishing your wages or seizing your bank account due to owed income tax debt by filing a Kenosha bankruptcy and meeting the criteria listed above. There are implications to not filing bankruptcy on time, so time is of the essence. For example, if the IRS places a lien on your home before you file your Kenosha bankruptcy, you are not personally obligated to pay the discharged tax, but the lien will remain on your property. You also must repay any tax credits awarded on the tax return involved in the discharge.

Contact a Kenosha Bankruptcy Attorney

Your income tax debt may be eligible for discharge under a Chapter 7 or a Chapter 13 Kenosha bankruptcy. Remember, you can only discharge your income tax debt if you meet the above criteria. Warning: The above criteria is only a general guideline. You must speak with an experienced Kenosha bankruptcy attorney to learn more about meeting the guidelines to discharge an IRS tax debt in Wisconsin. Contact a Kenosha bankruptcy attorney at Wynn at Law, LLC by phone at 262-725-0175 or by email via our bankruptcy website’s contact page. Wynn at Law offers a free initial consultation and has offices in Delavan, Salem, and Lake Geneva, Wisconsin.

Find out if you qualify for bankruptcy.

Click Here to Get a Free Bankruptcy Assessment
from Wynn at Law, LLC

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It’s Free. It’s Easy.

*The content and material on this web page is for informational purposes only and does not constitute legal advice.

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