When you learned all about bankruptcy law (and who hasn't spent the largest part of a misspent youth huddled over tomes of bankruptcy law?), you probably spent some time on Chapter 11 and on Chapter 13. You probably also felt that conspiratorial, it-seems-like-there-must-have-been-a-second-shooter tingle in your brain...where was Chapter 12? What have they done with Chapter 12? Chapter 12, are you okay?
Yes, Chapter 12 is fine. Chapter 12 is a part of the bankruptcy code specifically dealing with family farms and family fishing businesses. Basically, it's where the blue-collar folk from beer commercials go when they need to restructure their debts and avoid losing their homes and businesses.
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Finance: What is a 1099?0 Views
Finance, a la shmoop. What is a 1099? Well it's a tax form for the rest of us the
non fully employed, the non recipients of crappy health care and benefit plans, the [Man looks shocked at his medical bill]
non recipients of fancy corporate business cards those of us who choose to [Business card for Brett Corporate]
go it on our own as consultants, contractors, day laborers and
independents who self employ under the yoke of many masters trying to make our [A contractors diary]
own little way in the world, yeah. Corporations who hire contractors in
whatever form, must deliver to those contractors a form 1099 which outlines [Corporation giving out 1099s to contractors]
and stipulates the details of the job performed for the contractee. That 1099
is a direct conduit to the IRS holding out their arm to shake your hand and [The form 1099s are sent to the IRS]
then turning it 90 degrees to the right. [IRS's hand out expecting something]
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