[COLUMN] ‘Salaried’ employees may still be entitled to overtime pay
Q: MY job title is “manager.” I work at least 10 hours per day, 6 to 7 days per week. While I supervise a few employees, I mostly do the…
Category: Consumer Columnists
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[COLUMN] Value versus growth investing
HOW do you pick stocks to buy? Well, it depends on your overall strategy: short or long-term holding, value or growth, your aversion to risk, among other things. For now,…
[COLUMN] Section 704.730 amended: Increasing homestead exemptions from $300K to $600K
DOES this sound right? It’s almost incredible, but it’s true. California Governor Gavin Newsom signed Assembly Bill 1885 into law and it is the current law on homestead exemptions effective…
[COLUMN] California bicycle laws
AS we all know, California has the perfect weather and scenery for those of us who enjoy riding bicycles. Besides using bicycling as a form of exercise, it is also…
[COLUMN] How do you know if a stock is overvalued?
A STOCK is overvalued when its price can’t be justified by its fundamentals and earnings outlook. Overvalued stocks are risky and subject to selloffs. Specifically, stock is overvalued stocks when:…
[COLUMN] Can my boss force me to get a COVID vaccine?
Q: MY work requires personal interaction with several people on a daily basis. We are getting back to the worksite after working from home for over a year. My employer…
[COLUMN] What is postnuptial agreement?
A postnuptial agreement is a contract between you and your spouse entered into after you get married resolving issues in your marriage. It is similar to a prenuptial agreement except…
[COLUMN] What are the common questions about bankruptcy? Here are some answers
IS there a constitutional right to file for bankruptcy? Yes, there is. The United States Constitution adopted 250 years ago provides for the creation of bankruptcy courts and the power…
[COLUMN] Sooner or later, you will need to face your debt problems
FACING difficult financial times can be a frightening thing for a lot of people. When bill collectors are hounding you, at some point, you realize that something must be done…
[COLUMN] IRS to automatically correct unemployment taxation on your tax return
Unemployment benefits are fully taxed by the IRS. However, the recent American Rescue Plan makes the first $10,200 of unemployment benefits tax-free for 2020. President Joe Biden signed the Plan…
[COLUMN] Filing for bankruptcy when everything seems hopeless
THIS is one thing I hear from people all the time: “If you ask me, I really hate doing this, but I feel I have no choice.” Of course, no…
[COLUMN] Is now a good time for filing bankruptcy?
IF you live in Los Angeles County, or in Southern California — including the counties of Orange, Riverside and San Bernardino County — and you own the house that you…
[COLUMN] How debt settlement can help you avoid bankruptcy
YOUR credit card payments are past due. You’re confused and don’t know what to do. The bill collectors are calling you non-stop and writing you threatening letters. What do you…
[COLUMN] Senior needs Chapter 13 to protect house from creditors of a failed business
THE client is 71. Her husband died five years ago, so she lives with her unmarried son who does not have full time or steady employment. She has a large…
[COLUMN] Family leave rights for both expecting parents
Q: My spouse and I are expecting a baby and we are trying to figure out how much family leave we are entitled to so we can each spend quality…
[COLUMN] Biden’s tax plan update
PRESIDENT Joe Biden’s $6 trillion budget proposal offers new major initiatives like child and elder care subsidies, generous tax credits for families and the working poor, and free community college….
[COLUMN] Should you be paid for work before you clock-in?
Q: I WORK as a “team member” in the service industry in Los Angeles. Before we clock-in for our shift, we are required to attend a “huddle,” or a meeting…
[COLUMN] Couple wonders how to tackle debt relief for wife
LET me give you the background on this case. The husband is 81 but still looks active. He is slim and sprightly. The wife is 79 and looks nervous. Normally,…
[COLUMN] How to reduce your chances of IRS audit in 2021
THE IRS was underfunded under the Trump Administration. It didn’t have enough personnel to accomplish its goal. With skeleton force, audit rate declined to only 1/2 percent (less than half…
[COLUMN] Chapter 13 debt adjustment: Pay less of what you owe
CHAPTER 13 is the section of the US Bankruptcy Code that allows individuals in the United States to reorganize their finances. If you are having difficulty paying your debts (credit…
[COLUMN] 6 reasons the IRS could audit you
1. Failing to report some income Failing to report subcontract, interest, or dividend income are easy ways to attract an audit. I know that it’s tempting not to report income…
[COLUMN] ‘Unapproved’ overtime must still be paid
Q: I WORK as a nurse at a facility that has a strict policy of no unapproved overtime. We don’t often ask for approval since we risk being written up…
[COLUMN] What is the purpose of bankruptcy law?
THE highest-profile cases of bankruptcy filings are Walt Disney, Milton Hershey, Orange County, a certain Catholic diocese in the USA that was hit by the child molestation cases, the Trump…
[COLUMN] Here are 4 ways to get out of debt
ARE you seriously in debt and don’t know what to do about your situation? Are you afraid that unless you do something about it, thing will just continue to get…
[COLUMN] IRS top enforcement targets
WITH a bigger budget, IRS recently hired new personnel to increase their historic low audit rates. Here are 7 targets for IRS audits: 1. Non-filers IRS estimates that nonfilers represent…
[COLUMN] Is an unfair firing ‘wrongful termination’?
Q: I worked in a company for over 5 years. A client accused me of making a mistake in a big order. This was not true. But the new manager,…
[COLUMN] Do I have to disclose my bitcoin to my spouse in my divorce case?
BITCOIN and other cryptocurrency has become popular lately as a new store of value. It is decentralized and not subject to regulation in any jurisdiction. It can be stored…
[COLUMN] Debtor with $70K credit cards but good income needs Chapter 13 relief
A DEBTOR who is 50 has accumulated credit card debt at the rate of $6,000 a year for the last 20 years. Now, he owes $70,000 of credit cards. He…
[COLUMN] Can bankruptcy help if you’ve been laid off due to the coronavirus?
WE are facing challenging times brought about by the coronavirus. Since March of last year, millions of people have lost their jobs. A lot of business owners have been forced…
[COLUMN] Reasonable accommodation for pregnancy-related disability
Q: I worked in healthcare in Los Angeles. Several months ago, I was pregnant. My doctor ordered me to take leave from work because my pregnancy was high-risk. My employer…