Some time ago I was engaged to help a company close. I was also to help its owner become bankrupt and lose her house and everything she had, but for her to not have continuing liability for unpaid payroll taxes. It seems those taxes could not be extinguished in personal bankruptcy.
I was given simple marching orders. To allow the owner to walk away entirely broke, but free of debt to the Internal Revenue Service.
I ended up developing a plan and overseeing its implementation that saved the business.
Last week I posted an article giving the entire story with all of the specifics, descriptions of each of the people involved and their roles and how I negotiated with the IRS. I even wrote about my fee arrangement.
It is thorough, pretty long and very detailed. I cannot reproduce it here, but you can read the entire story by clicking this direct link: https://quickreadbuzz.com/2021/03/24/valuation-ma-edward-mendlowitz-anatomy-of-saving-a-business/
It was a very satisfying engagement that I am immensely proud of and hope you enjoy reading about it.
If you have any tax, business, financial, leadership or management issues you want to discuss please do not hesitate to contact me at [email protected].
Read More of the Partners’ Network Blog
