Self employment and bankruptcy.
December 19th, 2006 by Questions
My partner is self-employed and as such, has a business number (sole-proprietor). He is behind on his taxes and is considering filing for bankruptcy. My question is – if he files for personal bankruptcy, are his business debts included? Are his taxes considered business or personal?
He doesn’t have any but just to make the question robust – would business credit cards also be included?
And lastly – if he declares bankruptcy, can he still own a business? (He’s a carpenter).