business and personal
October 30th, 2008 by Questions
We have 2 Ltd. companies and they both are a maxxed to the limit, we also have numerous credit cards and loans exceeding limits. We signed personal gaurantees on these businesses and LOC`s. My question is what happens to these broke companies? All taxes are paid but loc`s are maxxed, so I`m thinking about personal bankruptcy. Does this include my businesses as well or do I file them separetly? Do I still have to file yearly taxes for these companies?
Posted from: Alberta