Business owner files chapter 7 as losses mount
Young client seeks chapter 7 relief for $$70K credit card debt Business owner files chapter 7 as losses mount CLIENTS are spouses who own and run a business together….
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Can a lay-off be used as excuse to fire a ‘complaining’ employee?
(Nurse fired for reporting safety issues awarded $1 million verdict) Q: I WORK in a company where a supervisor bullies employees into working long hours without extra pay, threatening to fire…
12 ways to avoid an IRS audit
1. DO not boast about how you got away with undeclared income or manufactured deductions. Ever heard of whistleblowers? They earn rewards of 15% to 30% of your assessments. If…
Why bankruptcy may not be as bad as you think
SLEEPLESS nights. Stressed out. Worried about the future. Always broke. This is what most people are going through when they are considering bankruptcy in order to get out of debt. …
Federal tax update for what’s new for 2015 tax returns
1. HEALTH COVERAGE. Information Reporting. The provider of your health coverage is required to send Form 1095-A, 1095-B, or 1095-C with list of individuals included in your family health coverage…
Business owner files chapter 7 as losses mount
Young client seeks chapter 7 relief for $$70K credit card debt Business owner files chapter 7 as losses mount CLIENTS are spouses who own and run a business together. They…
When should employees challenge their ‘salaried’ and no-overtime status?
ZELMA Brawner worked for Bank of America (BOA) for about 28 years, occupying the positions of “Dedicated Service Director” later renamed “Treasury Services Consultant,” and “Treasury Services Senior Advisor” for…
Do you qualify for earned income credit?
HERE are the top 10 things the Internal Revenue Service wants you to know about this valuable credit: 1. EITC not only reduces the federal tax you owe, but could…
Worried about IRS tax problems?
IRS problems have a way of ruining all aspects of your life. They can take a toll on you financially, emotionally and physically. When you owe the IRS, you’re always…
The makings of a successful Chinese entrepreneur
THE overseas Chinese or hua-chiao is a term commonly used for the Chinese in Southeast Asia. In a broad sense, overseas Chinese refers to all Chinese who have left their…
California tax update for individuals what’s new for 2015 tax returns
1. YOU are required to file a California tax return if your gross income exceeds: a. Single – $16,256 (no dependent). b. Head of household – $27,489 (with one dependent)….
California tax rates and exemptions for 2015 tax returns
EXEMPTION Credits: a. $109 – Single, Married filing separately, Head of Household. b. $218 – Married filing jointly. c. $337 – Dependent. d. $109 – Age 65 or older. e….
Business owner files chapter 7 due $1.0M labor lawsuits
Seniors seek chapter 7 relief for $48k credit card debt Business owner with $1.0M labor lawsuits CLIENT is 65. He operates a service-oriented business with 3 outlets in strip malls….
Are employers liable when employees injure others outside work hours?
MICHAEL Landri worked as a bartender for the Marriott Del Mar Hotel in San Diego. In December 2009, the hotel held its annual holiday party for its employees. Marriott managers…
Should married couples file separately?
OF course not. Why should I pay taxes based on the highest tax rates? The lowest rates belong to joint filers and widows, followed by heads of household and single…
Credit card debt trap: How to come out alive
DO you have sleepless nights worrying about your credit card debts? Are you feeling hopelessly trapped with no way out? If you are up to your eyeballs in credit card…
Inspiring Filipino-Chinese entrepreneurs
Many attempts have been made to profile the Asian Entrepreneur. But I found an easier way to spot them—just check their family name. The fact is enterprises and entrepreneurship in…
Debt relief attorney Ray Bulaon opens Los Angeles office
ATTORNEY Ray Bulaon, known as “the Filipino Community’s Debt Relief Expert”, has opened a fourth office location in Los Angeles in order to be more accessible to all clients in…
Business owner files chapter 7 due to $1.0-M labor lawsuits
Seniors seek chapter 7 relief for $48k credit card debt Business owner with $1.0M labor lawsuits CLIENT is 65. He operates a service-oriented business with 3 outlets in strip malls. He…
Police use of excessive force violates civil rights
THE use of unreasonable or excessive force by police are in the news now more than ever. Many thought after the Rodney King incident, this issue will never arise again….
12 tips on filing status
PAY attention to your filing status because it determines your standard deduction, tax due, or refund. Here are 12 tips to help you choose your correct filing status: 1. There…
Avoid this big mistake when facing foreclosure
YOU already know that your home is in foreclosure. You’ve received that dreaded Notice of Default. You know that after 90 days, your home can be scheduled for a Trustee…
Senior Care Home: Is it a good business?
I AM frequently asked the question: “Is it a good business opportunity to open a senior care home?” First, let us define what a Senior Care Home is and how…
Why everyone needs estate planning
MY grandfather is one of the greatest men I have ever known. After fighting in the Philippines during World War II, he talked his way past guards at a U.S….
Client files chapter 13 while hoping for a loan modification of mortgage
Client seeks chapter 7 relief for $78K credit card debt CLIENT has had an on going “battle” with Wells Fargo for justice on her mortgage since 2007. It’s been 9 years…
Lyft drivers misclassified as independent contractors settle for $12.25 million
LYFT, the “ride-sharing business” and Uber competitor, has settled a class action lawsuit by its drivers for over $12 million. Lyft drivers had accused the company of misclassifying its drivers…
20 don’ts in an IRS audit
1. DON’T go to your appointment unprepared. 2. Don’t be late for your appointment with the auditor. 3. Don’t volunteer information. 4. Don’t be condescending of education, experience, age, or…
Why are most people too embarrassed to seek debt help?
HAVE you ever faced a situation in your life where you needed help so badly but you were just too embarrassed to ask for it? Perhaps you felt confused and…
Faith and Pinoy pride: Outperforming and outhinking the giants
“FIGHTING multinationals was very tough. At first, everyone thought I was crazy. They told me, how would I survive this? True enough, it’s by the grace of God that I’m…
Business owners seek bankruptcy relief
Client 1: Garment Factory CLIENT presents himself as a businessperson, who has been in the garment business since 2002. He has a factory with ten employees where he pays his…