$2 trillion stimulus on the way to you
I MUST admit that the $2 trillion stimulus package to counter the virus-induced slowdown is noteworthy. In the next three weeks, 93% of Americans will be receiving $1,200 each, according…
Category: Consumer Columnists
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Is bankruptcy the answer to your debt problems?
A LOT of people who are contemplating bankruptcy as a solution to their debt problems often wonder if it can be avoided at all. They fear that they might be…
Employees’ rights and the coronavirus (Part 2)
Q: I work for a company that provides 40 hours of paid sick leave. This is about five days of work. If I ever need to take leave due to…
US trustee directs all 341A hearings thru April 10 be postponed due to virus
THESE are trying times indeed. We have been advised to self-isolate in the meantime that we are waging a war against the novel coronavirus (COVID-19). Sure, social distancing makes a…
IRS releases new simple tax form for seniors
HERE is a welcome new for seniors like me. Probably you too. We hate filling out tax forms with small words crammed into small boxes. Fear not, support is on…
Employees’ rights and the coronavirus (Part 1)
Q: I am a working parent with a school-age child, who has been sent home due to fears of infection from the coronavirus. My work entails interacting with people throughout…
Very senior client cornered by $34K in credit cards
“ My senior client cannot do Chapter 7 because he has a lot of non-exempt equity in his house. He can only do Chapter 13 to handle those credit cards.”…
Should employees be paid even if not working?
(Yes, if employer has control over employees) OVER a decade ago, four truck drivers sued Wal-Mart claiming Wal-Mart violated California’s meal and rest break laws. As part of their job,…
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,…
IRS simplifies form 1040 for individuals
1. One big change this year is a reduction of Form1040 schedules from six in 2018 down to three in 2019. Some schedules will be merged while some will revert…
Why filing bankruptcy is not as bad as most people think
FILING Bankruptcy is a serious decision for most people. Although almost a million people file Bankruptcy in every year, most don’t have a clue about how the process works until…
Retiring senior needs bankruptcy relief for $45K credit cards
A 65-year-old husband has just handed in his application for retirement from his job. He makes a gross of $5,000 a month with overtime. Upon retirement, he will net about…
Top tax audit triggers (Part 4 of 4)
You fail to report investment income from interest and dividends: You must report interest and dividends from banks and brokers. If you fail to disclose such accounts to your spouse……
Unequal pay + sexually-hostile workplace = sex discrimination
RIOT Games, Inc. is a multi-billion dollar video game developer, with headquarters in Los Angeles, operating in 24 offices around the world and employing about 2,500 workers, 80% of them…
Starting a new life after bankruptcy
IF you are in debt and are seriously considering bankruptcy as an option, I am sure a lot of thoughts are going through your mind. I just want to get…
Owner of several businesses needs bankruptcy relief
EVEN though the economy and stock markets are positive, the coronavirus problem has dampened business outlook worldwide. Given this environment, not all businesses here are able to survive. For instance,…
Bag checks at work should be paid as hours worked, says CA Supreme Court
AMANDA Frlekin and others worked for Apple Inc. as retail store employees in its retail stores in California. Apple requires them to undergo exit searches pursuant to its “Employee Package…
Top tax audit triggers (Part 3 of 4)
You deposited or withdrew over $10,000 in cash: Depositing or withdrawing over $10,000 in cash attracts attention. Banks are required to notify the IRS. Depositing or withdrawing $9,950 or $5,000…
What bankruptcy can and cannot do for you
IF financial start. Bankruptcy is a powerful remedy because it stops most collection actions, including lawsuits, wage garnishments, bank levies and foreclosure. It also wipes out many types of debts….
Top tax audit triggers (Part 2 of 4)
You missed to report all W-2s, 1099-MISC, 1099-INT or 1099-INT: If you missed to report income from employment (W-2 with withholding) or independent contracting (Form 1099 without withholding), tough luck….
What are the pros and cons of filing for bankruptcy?
LET’S assume that you have incurred too much debt. What do I mean by too much debt? By this, I mean that you are now a slave to creditors because…
Can you have two employers for the same job?
And which of them should pay back wages? ELVIA Jimenez worked as a direct employee for Ameritemps, a temporary employee staffing service. Ameritemps placed Jimenez with U.S. Continental Marketing, Inc….
Protecting employees who uphold the rights of their co-workers
JEREMIAH Matthews worked as a cook and a maintenance supervisor for Happy Valley Conference Center. Happy Valley is an affiliate of the Community of Christ Church and hosts seminars, retreats,…
Top tax audit triggers (Part 1 of 4)
Scoring system: The IRS uses a Discriminant Function System (DIF) to determine returns that are most likely to generate additional revenue for the government. Although the scoring is secret, it’s…
How does the bankruptcy means test work?
IS the means test in bankruptcy? It’s a method for calculating what your household income is to determine if you qualify for Chapter 7 or Chapter 13 of the bankruptcy…
Can’t have peace of mind due to debt problems?
ARE you having problems paying your debts? Are creditors calling you day and night threatening you with a wage garnishment, repossession or foreclosure? Are you starting to feel hopeless and…
Chapter 7 debt relief for a fresh start
THE YOUNG: The first set of clients are in their late twenties, the epitome of youth. They have their whole life ahead of time. They married three years ago. Right…
Is this Filipino “church” engaging in human labor trafficking?
ON January 29, 2020, the FBI conducted a raid of the Kingdom of Jesus Christ, the Name Above Every Name church in Van Nuys, California. During the raid, the federal…
Why are more seniors filing bankruptcy?
ACCORDING to a new report, the number of seniors filing bankruptcy is increasing rapidly. The average senior who files bankruptcy these days owes approximately $17,390 according to the report (Although…
Chapter 7 debt relief for a fresh start
THE YOUNG: The first set of clients are in their late twenties, the epitome of youth. They have their whole life ahead of time. They married three years ago. Right…