Perks of Employment Count as Income
By Jonathan Ginsberg, Atlanta Bankruptcy Attorney on Dec 20, 2007 in Chapter 7 Bankruptcy, Means Testing
Does your employer pay for your rent? provide use of a vehicle? pay for personal debts incurred on a company credit card? If so, the fair market value of these perks must be counted as income for both means test purposes as well as budgeting purposes.
If you do not disclose this non-traditional income, your bankruptcy discharge could be at risk. All sources of income must be revealed on the form B22, Schedule I and the Statement of Financial Affairs. Omission or misrepresentation of income may be considered fraudulent and could result in a denial or revocation of your discharge.
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