Re: Insolvency

Posted by NJD on May 21, 2008 at 06:14:41:

In Reply to: Insolvency posted by Matthew on May 20, 2008 at 20:08:28:

A Borrower's or Taxpayer's "insolvency" cannot be cherry picked... but must consider the entire financial
profile. As Steele suggested, you should consult with a CPA to review your entire financial profile with respect to the IRS's interpretation of insolvency, and, the attorney who drafted your LLC so you can determine the extent of your personal liability.

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