Ask ten people content articles can discharge tax debts in bankruptcy and can get ten different replies to. The correct answer may be you can, but only if certain tests are met. Now we calculate when there is any taxes due. Assuming for the second that couple of other income exists, we calculate taxable income by taking the benefit from the business ($20,000) and subtract regular deduction (which is $5,950 for 2012) less the exemption deduction (which is $3,800 for 2012). The taxable income w...