Bankruptcy: Why suffer needlessly if you seriously need help?
“ The legislative intent of Congress in passing our bankruptcy laws is to allow a fresh start to those honest individuals who have found it impossible to cope with debt…
Category: Consumer Columnists
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Should US workers abroad pay self-employment tax?
You may be liable for U.S. self-employment taxes if you have become an independent contractor either for a new employer or a foreign employer with no ties to the U.S….
Clients choose Chapter 13 to avoid risk of losing house to Chapter 7 trustee on steriods
Senior wants Chapter 7 to wipe out $22K credit card debt “ Some credit cards specialize in giving credit to people who have come out of Chapter 7. Chapter 7 is…
Should I tell my employer about my medical condition to accommodate my disability?
Q: I WAS diagnosed with herniated disc and severe anxiety. I want to request leave but want to keep my privacy at work. Do I need to tell my employer…
10 tips on penalties for late filing/paying your taxes
1. THE failure-to-file penalty is generally more than the failure-to-pay penalty. If you cannot pay all the taxes you owe, file to prevent that more costly failure-to-file penalty. 2. The…
Here are the early signs of debt trouble you shouldn’t ignore
HOW much debt is too much? Are you worried that you have accumulated more debt than you can afford to pay back? Are you feeling depressed, frustrated, hopeless or maybe…
Must US workers abroad pay self-employment tax?
YOU may be liable for US self-employment taxes if you have become an independent contractor either for a new employer or a foreign employer with no ties to the US….
Original Medicare and completing the Medicare puzzle
(Part 2 in series of seniors) THE Original Medicare has Part A and Part B. Part A covers inpatient services like hospitalization. Part B covers outpatient services. In 2006, prescription…
Seniors file chapter 13 to rescue house and handle tax liens
Client files chapter 7 for $40K credit cards CLIENTS are seniors. Husband is 72. Wife is 71. Both are retired and receiving combined social security and pension total of $4,015/mo….
Strength in numbers: court sides with employees, strikes class action waivers
THERE are valid overtime or meal break claims that may be too small to require a lawsuit. The litigation may cost too much and the payoff for one employee may…
10 tips for late filers
• FILE Electronically – Consider filing electronically instead of using paper tax forms. If you file electronically and choose direct deposit, you will receive your refund faster. 2. Check social…
How to file bankruptcy and keep everything
ONE common misconception people have is that if they file bankruptcy, they will lose everything that they’ve worked hard for. For this reason, a lot of people continue to suffer…
You owe taxes? Cannot pay now?
(Part 2) WE talked about other payment plans in our other newsletter. Now let us explore Offer-in-Compromise “OIC” under Code section 7122. OIC is a tax liability settlement agreement of…
Soriano: Three brothers dead in an inheritance dispute
WHEN succession goes very wrong, it can be fatal. The case of Mayfull Foods Corp. is a lesson to founders and family business leaders in Asia not to take succession…
Seniors seek relief from $80K and $28K credit cards
CLIENTS are young seniors at 60. Husband has a stable middle management job that pays $5K a month. Wife is not employed. They don’t own a house. They rent for…
Police use of excessive force results in wrongful death verdict
ON Christmas night in 2013, 19-year-old Asa James Dolak was having a domestic dispute with his ex-girlfriend, who is also the mother of his two-year-old son. The dispute ended with…
Tax consequences of debt discharge
MANY financially distressed borrowers lost their homes and had their loans cancelled during and after the recession. It was a relief to have their debts reduced or forgiven, but the…
When does it make sense to file bankruptcy?
NO one ever likes to talk about bankruptcy. However, it’s simply a fact of life. Things happen. Whether it’s losing your job, going through a divorce, having huge medical bills…
Protecting your memories
COMEDIAN George Wallace was performing one night at the Flamingo Las Vegas when he approached an elderly lady in the audience. She stood up and he asked her a simple…
Series for seniors: Part 15 ways to get health insurance
SENIORS who are 65 and older have 5 ways of getting health insurance. What are they? Employerbased insurance, Covered CA, outside of Covered CA (also known as Off Exchange), MediCal…
Client files adversary against debtor for $370K
Senior files chapter 7 to discharge $40K credit cards CLIENT is a foreign company doing business with a California company since 2012. Client is one of the world’s largest manufacturers of…
Protecting your parents
SINCE its inception three decades ago, the ombudsman program has investigated elder abuse and other complaints on behalf of residents of California’s 1,300 nursing homes and more than 8,000 assisted…
Good news for domestic workers (especially caregivers and nannies)
Q: THANK you for keeping us updated on the latest employment laws. I work as a caregiver/housekeeper for a senior couple in Los Angeles. Back in 2014, they started paying…
10 tips to handle a field audit at your place of business
THERE are three basic types of audits: correspondence, office, and field examinations. Correspondence audits are the simplest ones – W2s, 1099s and other items that can be easily resolved by…
Need debt help but too embarrassed to ask?
HAVE you ever faced a situation in your life where you needed help so badly but you were just too afraid or embarrassed to ask for it? Perhaps you felt…
Foreign person NRA tax withholding
Nonresident Alien NRA tax withholding is applicable to U.S sourced income paid to foreign person and does not apply to payments made to U.S. persons. Foreign persons include nonresident alien…
Senior seeks relief from $40K credit cards
Business owner seeks to discharge $100K credit cards used to buy business CLIENT is 65 and recently widowed. Her husband was suddenly taken ill and was diagnosed with lung cancer even…
Workers petitioned by US employers: Are your rights to wages protected?
Q: I AM a Filipino worker petitioned by my U.S. employer to work as part of its IT staff in California. My employer pays me only half the agreed rate…
Types of home policies and what do they cover
ASIDE from your cars, you also want your other properties to be protected. Properties can be personal properties or real properties. Personal properties are movable while real properties are fixed….
Should you form a Limited Liability Company (LLC)?
LIMITED Liability Company (LLC) is a hybrid that combines the pass-through attributes of a partnership with the limited liability of a corporation. The owners are called “members” who hold “interests”…