White Paper

10 Pages
  • 10 Pages

Understanding the Impact of Bankruptcy on Financial Statements and Taxation


In order to understand the financial implications of bankruptcy, it is necessary to understand the different types of bankruptcy that are available as a reorganization strategy. The two major types of bankruptcy that are used by individuals and business owners to discharge debts are Chapter 7 bankruptcy and Chapter 13 bankruptcy. Download this white paper for a brief description of the two types and what an individual or a business can expect with regards to taxes and financial statements when using either one as a financial strategy.

Learning Objectives

- Learn the ins and outs of Chapter 7 bankruptcy.

- Identify who is eligible for bankruptcy.

- Review the advantages and disadvantages of filing Chapter 7 or Chapter 13.




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