By Merideth Akers, CPA, PHR, Comptroller for Bradford W. Caraway (Birmingham, AL) The Covid-19 pandemic postponed the 2020 Masters Golf Tournament, originally scheduled for early spring. It was eventually held November 12th through 15th. The winner was Dustin Johnson. Additionally, the 2020 Wimbledon Tennis Tournament was cancelled for the first time since 1945 (due to World War II). For the...
No “$200.00 Old Car” Deduction When Calculating Disposable Income
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By Robert G. Drummond, Chapter 13 Trustee for the District of Montana
In the case of Drummond v. Luedtke (In re Luedtke), the Ninth Circuit Bankruptcy Appellate Panel held that debtors may not deduct a $200.00 “old car” deduction when calculating disposable income. The court recognized that the disposable income formula allows deductions for items included in the “National Standards and Local Standards ... issued by the Internal Revenue Service” contained in § 707(b)(2)(A)(ii)(I . . .
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