CES (Consumer Electronics Show) is the largest trade fair for consumer electronics. It’s presented by Consumer Technology Association (CTA) annually in Las Vegas. It has been our tech bell weather for more than 50 years. CES features the latest products from 4,500 exhibiting companies from around the world. CES gives us a glimpse of the…
A GROUP of flight attendants from Virgin America, Inc. sued the company for unpaid wages and missed breaks. The employees alleged that Virgin did not pay them for the following: hours worked before, after, and between flights; time spent completing incident reports; time spent in training; time spent taking mandatory drug tests The employees also…
THE client is 53. He is married and owns a house. He used to have a business, which was a DBA sole proprietorship. “DBA” means doing business as. Sole proprietorship means that an individual conducts a business in his personal capacity, without a corporation, or any other kind of business entity. Other business entities used…
SUSANNA Smith worked as a superintendent, and Cleve Pell worked as an operations officer for the Montebello Unified School District (MUSD). In the course of doing their jobs, Smith and Pell discovered that Ruben Rojas, the Board of Education and Chief Business Officer of the school district, obtained his position by misrepresenting his past employment…
“It’s becoming clear that the choice she has to make is to be able to make the mortgage payment or the credit card payment.” THE client is 53 and recently widowed. She works as a caregiver and met her now-deceased husband through her job. At first, the husband was her patient. She provided…
If you plan to trade stocks, it helps to get an understanding of basic terms that are mentioned frequently on TV, radio, and social media. There are three Major indices: 1.Dow Jones Industrial Average. 2. S&P 500. 3. Nasdaq Composite. 1. Dow Jones Industrial Average is the oldest index, dating back to 1896. It tracks…
A lot of people who consult with me about their debt problems are going through the worst time of their lives. Unlike other problems in life that sometimes just go away on their own, debt problems will only get worse unless you do something about them. While dealing with debt and coming up with a…
AMOUNTS for tax returns in 2018 are compared with amounts in 2017. Exemption credits: a. $118 from $114 – Single, Married filing separately, Head of Household. b. $236 from $228 – Married filing jointly. c. $367 from $353 – Dependent. d. $118 from $114 – Age 65 or older. You are considered to be 65…
YES, definitely! These are the best of times to invest in the stock market. If you are not trading stocks now, you are missing the longest bull run in history. It may not be too late. We may still have a year or two before the party is over. Returns have been awesome. The internet…
TRISTAN Do worked as a mechanical engineer at Raytheon Space and Airborne Systems Company for eight years without any issues. However, that changed when he started reporting to a new supervisor who unfairly singled him out for performance deficiencies. Do believed that his status as a gay man played a role in the supervisor’s harassing…
“Creditors have to pay lawyers to file the lawsuits and get the judgment and liens. They cost money as everyone knows. Trump paid his personal lawyer Cohen hundreds of thousands of legal fees Lawyers cost money. That’s a fact of life.” THE client is 71. Her husband died five years ago, so she lives with her unmarried…
“Bankruptcy is never a fun thing to do or just an easy way out for people who simply want to run away from their obligations. The fact is that most people want to do the right thing and pay their creditors but their situation has gotten so bad that without bankruptcy, they would simply be…
• YOU may need to pay quarterly estimated taxes unless tax owed is less than $1,000 upon filing of the tax return or you do not owe any taxes in prior year if you have income from business as sole proprietor, or receiving K-1 as a partner or shareholder of S-corporation. Refer to IRS Publication…
Last week’s sell off inspired me to write today’s article to caution you when stock markets dive. When stock prices drop, one’s first reaction is to sell. That’s the worst thing you can do. The best you can do is sit back and wait for the market to recover. If you sell when prices drop,…
THE clients are young seniors at 62. The husband took an early retirement as he has a serious illness. Two years ago, the husband was diagnosed with stage 3 leukemia. He has been undergoing treatment with a new cancer-fighting drug that is still experimental. The cancer went into remission last year but resurfaced recently. I…
(Bonuses and shift differential pay can increase overtime rates) “Under California law, overtime pay is computed on the basis of the employee’s “regular rate” of pay. If the employee receives only an hourly rate, then the hourly rate is the regular rate. Employees may be paid in more than one way, for example, an hourly…
“A K-1 visa allows a foreign national to come to the United States to marry a United States citizen. The K-1 visa is valid for ninety (90) days after entry to the United States, during which time the marriage must take place. Once the foreign national is issued a K-1 visa, any of his/her unmarried…
“Remember that a debt settlement company cannot legally represent you if you are sued and thus, they cannot protect your legal rights. Also keep in mind that some creditors will flat out inform you that they refuse to work with a debt settlement company and if this happens, that means you leave them no other…
YOU have not filed your income tax returns for the current year and previous years because: 1) you decided you are not required to file? 2) You are a victim of identity theft and therefore excused? 3) You know you will owe taxes and you will have to pay when you file, decided not to…
WHEN debts spiral out of control, bankruptcy can become an invaluable financial recovery tool in getting you back on the right track. While it’s not for everyone, close to a million people every year find it to be their only hope of getting a fresh financial start. Debt problems can be the result of unemployment,…
1. DEALING in Cryptocurrencies People are not reporting transactions with Bitcoin, Ethereum, or Litecoin. The general public may not be aware that they are reportable. They may also not know how to report the purchase, sales, or exchange of digital currencies. This is something new. Reporting gets technical, even for tax pros. 2. Claiming Stock…
(Holding others liable for payment of wages) CALIFORNIA’S Labor Commissioner’s Office has awarded over $45 million in unlawful deductions from wages and out-of-pocket expenses to more than 400 misclassified port drivers. However, most of the drivers have not been able to collect their money because the companies that committed the wage violations have filed bankruptcy…
“It looks to me that there’s more stuff going on here, although it’s my policy not to get involved in matters that are between husband and 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…
(Part 3) 1. Amusement, recreation, and entertainment are now non-deductible under the new act. Businesses may still claim 50% deduction on meals if 1) provided to potential customer or client 2) not extravagant 3) the employer or employee is present 4) purchased separately from entertainment events. You may rely on Notice 2018-76 until the Department…
Client is 58. He is not divorced but separated for 20 years. His income is good. He nets about $7K to $8K a month. He lives by himself and does not even own a car. He goes carpooling with a relative to go to work. His rent is $800 a month. So, he doesn’t really…
ARE you overwhelmed with too much debt and don’t know how you can get out? Do you spend at lot of time worrying about your finances and don’t know how you can make it through another month? Are creditors calling you and harassing you for payment? When people are going through financial difficulty and are…
FIRST, you get a notice called a “contact letter” by mail – postal mail. The IRS does not reach out to taxpayers via email or phone; if that happens, you are probably being scammed. IRS will ask you to bring specific documents via Information Document Request (IDR). Here’s a list of what to do: • Respond…
THE area of sexual harassment litigation involves complex rules that are continually evolving. Last month, California lawmakers signed some laws designed to close several loopholes in California’s sexual harassment laws. Some of the more important common-sense changes include the following: A single incident of harassing conduct is sufficient to create a triable issue regarding the…
CLIENT is 58. He is not divorced but separated for 20 years. His income is good. He nets about $7K to $8K a month. He lives by himself and does not even own a car. He goes carpooling with a relative to go to work. His rent is $800 a month. So, he doesn’t really…
U.S. citizens are generally taxed on their worldwide income regardless of where the income is earned or received. A U.S. citizen who earns income in a foreign country may also be taxed on that income by a foreign host country thereby leading to double taxation. Below are the three tax provisions alleviating potential inequity: •…
