The beginning of a new year is a great time to commit to positive changes. For some people, this includes speaking to a Tampa bankruptcy lawyer about their financial situation.
If you’ve been feeling the financial pinch and the start of the new year is when you’d like to turn things about, here’s what you need to know.
1. You begin the year with a fresh start
Reaching out to a Tampa bankruptcy lawyer to kick off the year is a great way to start fresh. It lets you leave your financial woes in the past and move forward knowing that you are taking drastic action to regain control of your situation. It’s one of the best tools you have for wiping the slate clean financially.
2. Your tax situation will change
The new year is a great time to file for bankruptcy because it means you won’t need to worry about how filing will affect your taxes from the previous year. The changes you make with bankruptcy will be reflected on your 2022 tax return, which you won’t be dealing with until 2023.
Your Tampa bankruptcy lawyer can explain the tax implications of bankruptcy and let you know what you need to do when it comes to filing your taxes once bankruptcy is a factor. They can also refer you to a tax professional if you have a complicated situation.
3. You can relax and enjoy the holidays
Maybe the best reason to put off filing until after the first of the year is that it allows you to relax and enjoy your holiday season. If you’ve decided to file, you know that relief is on the way.
You shouldn’t plan to go on a wild holiday spending spree, but you can breathe a little easier knowing that the new year will bring positive financial change.
