Comments on: New Bankruptcy Lawyer: Meet Old Car Allowance http://www.bankruptcymastery.com/new-bankruptcy-lawyer-meet-old-car-allowance/ Becoming a better bankruptcy lawyer Tue, 31 Jan 2012 21:59:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Eric Southward http://www.bankruptcymastery.com/new-bankruptcy-lawyer-meet-old-car-allowance/comment-page-1/#comment-1227 Eric Southward Fri, 23 Sep 2011 01:28:00 +0000 http://www.bankruptcymastery.com/?p=48#comment-1227 Cathy, Thanks for the cite, was able to find under: Part 5. Collecting Process.Chapter 8. Offer in Compromise.Section 5. Financial Analysis 5.8.5  Financial Analysis 5.8.5.20.3  (10-22-2010) Transportation Expenses paragraph 5: In situations where the taxpayer has a vehicle that is currently over six years old or has reported mileage of 75,000 miles or more, an additional monthly operating expense of $200 will generally be allowed per vehicle. Cathy,
Thanks for the cite, was able to find under:
Part 5. Collecting Process.Chapter 8. Offer in Compromise.Section 5. Financial Analysis

5.8.5 
Financial Analysis

5.8.5.20.3 
(10-22-2010)
Transportation Expenses

paragraph 5:
In situations where the taxpayer has a vehicle that is currently over
six years old or has reported mileage of 75,000 miles
or more, an additional monthly
operating expense of $200 will generally be allowed per vehicle.

]]> By: Means test ownership deduction hits pothole http://www.bankruptcymastery.com/new-bankruptcy-lawyer-meet-old-car-allowance/comment-page-1/#comment-39 Means test ownership deduction hits pothole Tue, 02 Feb 2010 16:38:02 +0000 http://www.bankruptcymastery.com/?p=48#comment-39 [...] Like so much of the poorly written BAPCPA, the means test provision for an “ownership allowance” has been subject to contrary court decisions. The issue is whether a debtor whose car is paid for can deduct a sum associated with its “ownership”. There is a separate allowance for the cost of operating a vehicle. [...] [...] Like so much of the poorly written BAPCPA, the means test provision for an “ownership allowance” has been subject to contrary court decisions. The issue is whether a debtor whose car is paid for can deduct a sum associated with its “ownership”. There is a separate allowance for the cost of operating a vehicle. [...]

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