rreese's blog

While many traditional retailers are struggling in today’s economy, the PGA superstore is growing and planning to open additional stores in 2018. This is very unusual, as everyone has read about many retailers filing for bankruptcy over the last several years.

My wife shared with me recently a chapter from the women’s bible study she is doing on Wednesday night at our church, Westwood Baptist Church in Alabaster, AL.

It is at about this time each year when advertising on television and radio increases by various companies stating they can help you if you owe back income taxes.
I am often asked if back income taxes can be discharged, that is gotten rid of, in bankruptcy and the answer is not always an easy one. BUT please remember that even if they are not dischargeable in a straight (chapter 7) bankruptcy case, you can include the tax debt in a chapter 13 reorganization and repay the what you owe over time.

Entrepreneur magazine published an article last year about how entrepreneurs rebound from filing bankruptcy and move forward with their lives. After reading the article I believe the recommendations are solid for individuals who have filed or are considering filing.

Many people that I have met with have asked me my opinion about debt settlement companies. The advice I offer is to be diligent and research all of the options advertised.  Most importantly talk with an attorney who has experience and knowledge in handling debt issues. In my opinion, the best way to do this is in a face to face meeting.

Bloomberg news is reporting that retail stores such as clothing stores, electronic sellers, and department stores are filing for bankruptcy protection at a record place in 2017. The rise in filings is attributed to a drop in traditional walk up retail business due to online retailers.

The second bankruptcy in two years involving RadioShack has been filed by its parent company, General Wireless Operations. Approximately 1500 stores are at risk of being closed with the latest update stating 552 stores will be closed (two in Alabama are on the closure list and those locations are in Madison and Mobile). The fate of more than 1000 stores is still up in the air.

The football season officially ended with the Super Bowl last night in the first overtime game in Super Bowl history.  Now the season that no one wants to come is here.  Tax return season. There is one tax preparer now advertising filing your returns and getting your taxes won. An interesting catch phrase for sure, but what is most important is getting the tax return done correctly.

Feld Entertainment, who has owned Ringling Brothers circus for the last 50 years, is closing the famed circus after more than 100 years of existence. The company stated that declining ticket sales and the high cost of operating a circus of it size led to the decision.