Business owner seeks to discharge $100k credit cards used to buy business
Clinton beats trump to become first woman president of America CLIENT is 50. This is his financial picture: He has been working as a truck driver for a furniture company…
Category: Consumer Columnists
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Being singled out – is it discrimination or retaliation?
Why non-discriminatory conduct can still be illegal retaliation FOR about 19 years, Maria Montoya worked as a police officer with the Los Angeles Police Department. In November 2011, while on…
10 tips on dependents and exemptions
• YOU may claim exemptions for yourself, your spouse and your dependents. • Dependents must have a Social Security number (TIN is not good enough). • Exemption amount is $4,000…
Is bankruptcy my only option to get out of debt?
ARE you being harassed by your creditors day and night due to unpaid bills? If you are, you know that this is a pretty unpleasant experience. You may feel scared,…
Tax consequences of debt discharge
DURING and after the recession, many borrowers who were financially distressed lost their homes and had their loans cancelled. It was a relief to have their debts reduced or forgiven,…
Senior seeks relief from $40K credit cards
Business owner seeks to discharge $100K credit cards used to buy business; Clinton beats Trump to become first woman president of America CLIENT is 65 and recently widowed. Her husband…
Health insurance enrollment periods
THE government is more lenient to people with low-incomes and assets in the sense that they can get Medicaid (Medi-Cal in California) anytime of the year. That leniency to get…
New law aims to increase minimum wage to $15 by 2022
ON January 1, 2016, the minimum wage in California became $10.00 per hour. Most employees in California are entitled to be paid at least the minimum wage. On April 4,…
Should you employ your children this summer?
IF you run your own business, consider employing your children this summer vacation. Employing your children gives you a triple benefit: 1. It teaches your children the virtue of work…
Need to file bankruptcy and rebuild your credit?
A LOT of people in need of debt relief are often hesitant to file bankruptcy for fear that it will ‘ruin’ their credit and that they will never be able…
Seniors seek relief from credit card debt
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…
Penalties for noncompliant US citizens residing abroad
YOU may be subject to harsh penalties – penalties that are more severe than you expect, penalties that can even exceed balances in your accounts if you are a US…
What is a conservatorships?
MY last article discussed the reasons why everyone should have a power of attorney for assets as well as a power of attorney for healthcare. But what if a loved…
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…
Equal pay for equal work: The fight continues
Q: I HAVE been working at this company for 4 years and in my industry for 15 years. I just found out that a newly-hired male co-worker who is doing…
Tax tips for students working at summer jobs
HERE are 10 tips for students with summer jobs: 1. Fill out Form W-4 (Employee’s Withholding Allowance Certificate). This form is used by employers to determine the amount of tax…
Tax problems: Is the IRS making your life miserable?
Question: I owe a lot in back taxes. I’m constantly getting threatening letters from the IRS. This has become a big problem that I have no idea how to solve. …
Should employees give up their right to be heard in court?
Q: I RECENTLY heard from a friend who sued her employer for unpaid wages. However, the court threw out her case and she had to go to “arbitration.” She said…
Do I need a power of attorney?
AS an Elder Law attorney specializing in estate planning and Medi-Cal for Long-Term Care, I receive phone calls from adult children all over the country who have an aging parent…
Should you be present at your own IRS audit?
SHOULD you attend your IRS audit? Yes, I mean, you—your own audit. Well, you don’t have to. This is always a strategic question that should be discussed at the early…
Warning: Homeowners struggling with mortgage payments now have limited time to apply for government loan modification
ARE you currently struggling with high mortgage payments? Did you get your loan modified in the past but now have a new hardship based on changed circumstances? If so, this…
New IRS reporting requirement to US persons
STARTING 2015, filer of Form 8938 who satisfies the reporting obligation by completing Part IV Excepted Specified Foreign Financial Assets, must complete the newly added checkbox on item D on…
Client seeks relief from $700K commercial lease
– Seniors seek relief from $80K and $28K credit cards CLIENT is 52, still young by any standard. He has got it all together. He has no credit card debt…
‘Salaried’ employees may still have a right to overtime pay (California overtime law is still superior to new federal overtime law)
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…
Basics of statute of limitations
Background WHEN is your return free from IRS audit? From your point of view, statute of limitations prevents the IRS from collecting a deficiency in tax or beginning a civil…
Does filing bankruptcy make sense for your situation?
ARE your debt problems keeping you up at night and causing a lot of stress in your life? Have you thought of filing bankruptcy but can’t decide whether it’s the…
Be prepared for dental emergencies
INJURIES always seem to happen when we least expect them. Picture yourself at an outdoor gathering, having fun, when suddenly a crying child runs up to you, knocked-out tooth in…
10 facts on debt forgiveness on your main residence mortgage
THE exclusion from gross income of discharged qualified principal residence indebtedness is extended for two years through December 31, 2016. It applies to discharge occurring before January 1, 2017 or…
Work-related activities before you clock-in: Should these be paid?
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…
Can you be deported for filing false tax returns?
YES, you can be. Terrible, but it happens. In a landmark case, the Supreme Court held that a conviction for willfully filing a false tax return is a deportable offense…