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Donald Todrin
Works at Second Wind Consultants
Attended University of Massachusetts Amherst
Lives in Northampton, MA 01060, United States
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Donald Todrin

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Clients always ask us about debt forgiveness converting to ordinary income. What does this mean in plain English?

If you are forgiven of a debt, the IRS sees this debt as "income" and you can be taxed on the amount of debt you had forgiven.  

Wow! This could mean a huge tax bill if you owe a lot of money, but there are some things you should know about avoiding this tax. 

The truth is, almost none of our clients ever pay tax on their debt forgiveness.  Read more about this issue here. 

http://secondwindconsultants.com/how-does-debt-cancellation-income-affect-your-tax-return
How to avoid paying taxes on debt cancellation income or be prepared for debt forgiveness converting to ordinary income
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Donald Todrin

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Building on our article earlier in the week when we showed you the ideal hardship letter, this guideline will show you how much you should actually offer for your SBA debt settlement. Read this guideline to get an understanding of how what the bank will be willing to accept.

http://secondwindconsultants.com/sba-loan-offer-in-compromise-calculator
Learn the procedures for calculating how much to offer on your defaulted SBA Loan Offer in Compromise.
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Donald Todrin

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When writing any hardship letter for debt settlement, especially for an SBA debt, there are some key ingredients that must be included. Read this guideline to give you the best chances of getting your debt settlement accepted.

http://secondwindconsultants.com/sba-hardship-letter-what-to-include-to-achieve-acceptance
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Donald Todrin

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We have chosen to be small business entrepreneurs, enjoy the adventure, and you had best succeed as you are now unemployable.
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Donald Todrin

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In my last blog post the ONE question everyone was asking us over and over again was: 

"I have a SBA lien on my house, how do I take it off?"

Great question, so we decided to write a follow up post to help you from losing your home because of the SBA's lien. Truth is, YOU CAN LOSE YOUR HOME in an SBA default if you do not deal with the lien properly!

To prevent you from this disastrous situation, read this article. 

http://secondwindconsultants.com/how-to-get-an-sba-lien-release-on-your-home
Strategies for negotiating a SBA lien release on your home from an SBA guaranteed loan without losing your home or foreclosure.
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Can Bank Accounts Be Garnished in an SBA Loan Default?
Do you know that with one simple measure, you can prevent your creditors from attaching to your bank accounts? Your bank accounts are ALWAYS in jeopardy of being garnished by a creditor unless you take these few small measures.

Don't get your accounts swept by a creditor when in default and entering a settlement or workout negotiation. Read more about how to protect yourself.

http://secondwindconsultants.com/can-bank-accounts-garnished-sba-loan-default
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Donald Todrin

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Hey, I just wanted to share with you the latest blog post that we thought you would find helpful. Let me know what you think.
 
Are you familiar with the process of obtaining a modification on your loan? Many people do not realize, but you can actually permanently adjust your SBA loan payments. Find out how. 
 
Through years of experience and lots of trial and error, we have figured out how to get your payments reduced.
 
Best of luck to you and your business. 
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Donald Todrin

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Just finished this weeks radio show on Blogtalk radio, talking about generating more sales in this recession, an important topic. if you missed it,. you can hear it in my archives. see our web site.
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It is a great thing wanting to get back to then office because work is so satisfying
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Donald Todrin

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there is a path to successfully navigate the downturn, small business owners must make the changes required to survive, emerge and succeed...even in this economy, it can be done.
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Thanks Don.
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In his circles
151 people
Have him in circles
85 people
Crucible Men's profile photo
John Gilhooley's profile photo
John Tourkantonis's profile photo
Adam Mooney's profile photo
Tim Bracci's profile photo
David Arnstein's profile photo
Ian Sherman's profile photo
Tim Spellman's profile photo
Tim Wilkinson's profile photo
Education
  • University of Massachusetts Amherst
    Economics, 2015
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Employment
  • Second Wind Consultants
    President / CEO, present
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Currently
Northampton, MA 01060, United States
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4135842581
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136 West Street, Suite 01, Northampton, MA 01060
the food was excellent, and the menu very creative. The recipes where unusual and very tasty, I highly recommend this experience. However the article in the regional magazine which attracted my attention featured a wonderful scallop dish which I wanted to order but was unavailable the night I was there. I will have to return to try it out! I will gladly return.
Public - a year ago
reviewed a year ago
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