THE client is 50. He bought a restaurant in November of 2019. What’s the worst time to buy a restaurant in the history of the human race? November of 2019 sounds about right. He signed a five-year lease for the restaurant for $6,000 a month. That’s $72,000 a year. For five years, he’s on the…
THE Illegal Immigration Reform and Immigrant Responsibility Act of 1996 requires that US Citizens sponsoring an alien for legal permanent residency execute an immigration form I-864 Affidavit of Support. This is an agreement between the US Government and the Sponsor to promise to support the immigrant beneficiary seeking admission to the US at a level…
Working as a caregiver in a private home, an assisted living facility or nursing home is hard work. If this is your job, you probably work long hours and return home physically and emotionally drained. You may provide 24-hour, live-in help to the elderly or incapacitated. Many residential private households, residential care facilities and nursing…
YOU may not like what I have to say in this article. But oftentimes, the truth hurts. But if you find yourself broke every payday because of too much debt, you may find the information here helpful to change your life for the better. Did you know that more than 90% of the population lives…
A COMBINED task force of IRS, state tax agencies and the tax industry is warning tax professionals of attempts to steal Electronic Filing Identification Numbers (EFINs) with new scam email that impersonates the IRS. The latest scheme that arrived just before the start of the tax season targets tax professionals who prepare your tax returns….
AT some point in your life, you will have to confront your own mortality as well as the mortality of your loved ones. When you’re 12, you’re in a hurry to become a teenager. When you’re a teenager, you’re in a hurry to become 21. In the meantime, before you turn 21, you’re in college…
As much as one might be prepared for the death of a dear friend or a close relative, we are never ready to receive such news. Over the weekend, I received a Viber message from a family friend that read, “Hi Eric, just to inform you that Rod (not his real name) passed away due…
Opportunistic scammers are exploiting COVID to steal from you. IRS warns that dark web thieves are targeting tax preparers and taxpayers. These dirty criminals constantly mutate like the virus. These filthy scammers have been busy targeting economic stimulus payment. Here are some basic security guidance for individual taxpayers, business taxpayers and tax professionals. Protect personal…
Q: I WAS diagnosed with a spine compression fracture and severe depression. I want to request leave but want to keep my privacy at work. Do I need to tell my employer about my medical or psychological condition? A: No. The employee is not required to disclose the nature of the employee’s medical condition or…
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 one ever wakes up one morning and decide to just file bankruptcy without seriously thinking it over. Usually, people spend a lot of time going…
ARE income taxes owed to the IRS dischargeable in bankruptcy? What do you think? Of course, they are dischargeable. There are certain conditions that have to be met but they areindeed dischargeable. Are you kidding me, you ask? No kidding, they are dischargeable. Client is in his 50s. He migrated by himself first to America,…
You’re doing fine. You’re paying your bills on time and you have your debts under control. You’ve even managed to set aside a bit of savings in your bank account. You’re happy and life is good- at least for a moment. Then one day you find yourself in a big financial mess. You’ve used up…
IRS Commissioner Chuck Rettig described the combination of tax filing season, COVID, and work-from-home as hunting season for online thieves. Dark web scammers are the hunters and you are the game, unfortunately. Here are ways to protect yourself: • Install anti-virus software with a feature to stop malware. • Update your security software for both…
EVA Sharp worked as a cashier for Safeway, a large American grocery chain with headquarters in California. She initially filed a class action case on behalf of cashiers and other employees, alleging that Safeway failed to provide employees with suitable seating while performing their work tasks. Sharp also filed the lawsuit on behalf of the…
Sleepless nights… Stressed out… Worried about the future… Always broke no matter how hard they work…Feeling hopeless about their situation. This is what most people are going through when they are considering bankruptcy in their desperate attempt to get out of debt. The word “bankruptcy” often produces negative feelings because some people equate it with…
IN one case, the debtor borrowed $100,000 in credit cards, which he used to gamble. He then filed for Chapter 7 to wipe out the $100,000 of credit cards. The creditors objected on the grounds that he had no intent of repaying his debts because he used the money that he had borrowed to gamble….
THE IRS expanded the Identity Protection PIN Opt-In Program to cover all taxpayers to include you. This Identity Protection PIN (IP PIN) is a six-digit code known only to you and the IRS. It helps prevent identity thieves from filing fraudulent tax returns (and get your refunds) using your personal information. Here are key factors…
“It is the employer who directs the manner in which the employee is to present himself or herself for work – whether at the worksite or by phone. Either way, reporting time must be paid.” Michael Raziano worked in California as a truck driver for Albertsons, the second largest grocery chain in North America. He,…
AS the COVID-19 pandemic continues, government agencies have issued guidance on how to reduce transmission of the illness. On March 4, 2021, California’s Department of Fair Employment and Housing (DFEH) updated its guidelines regarding frequently asked questions (FAQs) on keeping workplaces safe while continuing to uphold civil and employment rights. Below are examples of FAQs…
HAS your income been affected by the COVID-19 pandemic? If you are currently unemployed and have no resources to pay creditors, filing for Chapter 7 bankruptcy to wipe out your debts and start fresh may be the clear and only option. To file Chapter 7, you generally need to be able to show zero disposable…
Thieves’ new target: Mobile phones. People are vigilant in protecting their computers but not their cell phones; accordingly, scammers are feasting on mobile phones. The IRS FBI FTC have issued warnings about protecting phones especially when shopping. Make sure that your phones and tablets are just as secure as your computers. Federal and state agencies…
IS Chapter 7 better than Chapter 13? I would say generally speaking if you have accumulated debt that is too burdensome for you, Chapter 7 is better for you than Chapter 13 because, in Chapter 7, all your debts are wiped out, giving you a fresh start in life so you can be productive again….
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 worse every day? When people are going through financial difficulty and are unable to pay their bills, their first reaction is often to ignore their…
Feb. 1, 2021: Employers to mail out W-2 Forms to their employees; businesses to furnish 1099 Forms reporting non-employee compensation, bank interest, dividends, and distributions from a retirement plan. Feb. 1, 2021: Financial institutions to mail out Form 1099-B relating to sales of stock, bonds, or mutual funds through a brokerage account, Form 1099-S relating to real estate transactions; and Form…
Last year, private employers with 500 or more employees were required to provide California employees with paid sick time for COVID-19-related absences. That law, AB 1867, aimed to close the gaps left open by the Families First Coronavirus Response Act (“FFCRA”) by expanding coverage to healthcare providers or emergency responders and food sector workers. AB…
FIRST of all, let’s have a moment of silence for the 10 innocent victims of the shooting massacre in Boulder, Colorado earlier this week. This was another senseless killing of innocent people for no reason at all. Remember, this massacre was preceded only a week ago by the anti-Asian hate crime in Atlanta that murdered…
Filing bankruptcy can be a big decision that most people put off until they realize that they have no other way out of debt. Unfortunately, however, sometimes people wait too long. When they finally do make the decision to file, they soon realize that they would actually have been better off if they had just…
IT has been over year since California declared a state of emergency due to the COVID-19 pandemic. Since then, many employees have stopped coming to their workplaces and have worked from home instead. However, those who were considered “frontline” workers do not have the option of working at home. Considered “essential” to the functioning of…
HERE are simplified Questions & Answers about the freshly minted third round of stimulus payments under the new American Rescue Plan Act of March 2021. 1. How much is the third Economic Impact Payment? $1,400 for individuals, $2,800 for married couples plus $1,400 for each dependent. You will get a payment for all your dependents…
FIRST of all, let’s have a moment of silence in prayer for those who were killed in the massage parlors in Georgia two days ago: Delaina Ashley Yaun, Xiajie Tan, Daoyou Feng, Soon C. Park, Hyun J. Grant, Sucha Kim, Yong A. Yue, and Paul Andre Michels. Six of the eight victims were Asian women….
