IN February 2011, Michael Rodman signed up on Safeway.com to buy his groceries online and have them delivered to his home for an additional delivery fee and fuel surcharge. After reading Safeway’s online FAQs and terms and conditions, Rodman believed that prices on items he selected online would be coming from a specific brick-and-mortar close…
• AMOUNT of exclusion. When you have gain from the sale of your home, you may be able to exclude up to $250,000 of the gain from your income. The exclusion amount is $500,000 for taxpayers filing a joint return. • Ownership test. To claim the exclusion, you must have owned the home for at…
WHEN people are going through financial difficulty and are unable to pay their bills, their first reaction is often to ignore their debts and avoid contact with creditors. They think that by doing this, somehow the creditors will simply give up and go away. Then one day the problem blows up in their face. They…
HERE 10 tips if you owe but cannot immediately pay the IRS: • Pay What You Can: Pay promptly to stop additional penalties and interest from accruing. If you are unable to pay, consider getting a loan to pay the bill in full rather than make installment payments to the IRS. • Additional Time to…
FOR both children and adults with special needs, dental care can be challenging. In some cases, limited coordination can make brushing and flossing tricky. In other cases there may be less access to professional care. Some patients may experience high anxiety levels too. Medications that lead to dry mouth can also contribute to dental care challenges. But…
“ Chapter 13 does not exclude or kill the loan modification process. In fact, Chapter 13 enhances debtor’s chances of successfully resolving her claim of fraud with the bank. Under the worst situation, client can file an adversary proceeding in Chapter 13 to ask the bankruptcy court to rule on her claim of fraud against…
RAYMOND Adame was a machine mechanic for Alcoa Fastening Systems and has worked there for more than 30 years. He was seriously injured at work and had to take a medical leave of absence for about 2.5 years. When he was cleared to go back to work, he had lifting restrictions due to the injury…
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…
Practically everyone knows that the good times of loan modification are going to end next year. Loan modifications under HAMP are set to expire December 31, 2016 after several extensions. HAMP was a direct result of the mortgage bubble in 2007 to 2009 when everyone, including your dog, could qualify for a zero down mortgage…
It is common for field workers like service technicians to drive company vehicles to the customer’s home or place of business to service or install a product. Generally, an employee’s commuting time between home and work is not considered hours worked. Travel time between an employee’s home and the changing worksites (where an employee may…
IF you paid someone to care for your child, spouse, or dependent, you may be able to claim the Child and Dependent Care Credit on your federal income tax return. Here are 10 tips on claiming a credit for child and dependent care expenses. • The expense for child and dependent care must be provided…
Are you facing a mountain of debt and don’t know what to do in order to avoid getting buried? Debt problems can wreak havoc on your personal life in many ways. And left unsolved, they can spill over into other areas of your life, causing problems not only at home but maybe even at work…
Senior seeks Chapter 7 relief for $5K debt “ Don’t throw away your hard evidence. Gather them and compile them into an easily readable format so that in case you have to file for bankruptcy relief, you have a bulletproof defense to justify the fact that you used the cash legitimately.” THERE are clients who…
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 she lost because the arbitrator was biased and she could not appeal. My company is now asking me to sign an “arbitration agreement.” What should…
MARRIED couples buying property are asked to decide how they should hold title: • Joint tenancy or • Community property. Basically, it is a choice between the ease of transfer to the survivor for joint tenancy and the tax benefits of holding property for community property. Unfortunately, it also a choice between the loss of …
EVERY day, I meet with couples who are deeply in debt. In a lot of cases, I can feel the stress level that they are experiencing while the couple is in my office. Emotions often run high and you can feel the tension in the air. There can be a lot of finger-pointing, resentment, anger,…
FOR 2015 INCOME TAX RETURN IT’S the last quarter of 2015 and in a few months during income tax season, you would want to minimize any income tax dues as much as possible. After all, for most individual taxpayers, paying in increments is much better than paying in lump sum. Below is a checklist of…
Senior seeks discharge of $40K credit card debt CLIENT no. 1 is 55 years old. She is now divorced and living by herself. The divorce judgment gave her the marital home six years ago. Ex-husband was not interested in owning the property. Divorces not only settle property rights between the spouses. It also settles the…
Q: I HAD to take a few weeks of medical leave from work because I had to undergo a heart procedure. I gave my employer my doctors’ notes. When I was released to go back to work, my employer told me that my position was no longer available. Since I work for a fairly large…
WHEN buying real estate, there is always that inevitable question: how do you hold title? Remember that your choice can have dramatic impact on estate taxes, liability protection, heirs, family situations and other factors. Let’s explore choices to help you determine which title is best for your next property. Joint Tenancy: • Any number of…
IF you are facing the prospect of filing bankruptcy for the first time in your life, this could be a frightening process. You probably have a thousand questions going through your mind as you contemplate your next move. Is bankruptcy the right thing to do or will it make my situation worse? Will I lose…
WHEN dentists see emerging wisdom teeth are going to cause dental problems, wisdom tooth removal is likely in the cards. Wisdom teeth–also known as the third molars–received their nickname because they emerge during young adulthood, when a person has a little more wisdom. But why do we wait until the late teenage years to address…
MEDIA coverage on IRS abuses and subsequent tax laws put pressure on the Service to revamp the Offer in Compromise (OIC) program for taxpayers who could not pay their tax liabilities. The IRS has just proposed regulations which, for the first time, provide relief if present collection activities create economic hardships. Previously, the IRS could…
Q: I WORK as an on-call employee for a healthcare facility. My employer often calls me to report for duty but when I arrive to work, my assignment is cancelled and I am sent home. This has happened several times and I was not paid for a single canceled work even though they scheduled it…
THIS week, the truth of this statement struck a chord with a prospective client who came to me for debt help. Keep reading as this may be the most important article you’ve ever read. Prospective client is seriously in debt, something in the neighborhood of $80,000, mostly credit cards. She is a single mother with…
TWO different clients both landlords because they both own rental properties came to see me last week with different problems. The conventional wisdom why people buy rental properties has two points. First, the rental properties will provide a steady stream of monthly income to the landlord. Second, the value of the properties will eventually rise,…
ON June 30, 2015, the California Governor signed into law designating October 25 every year from hereon as Larry Itliong Day. Who is Larry Itliong and why does he matter? NPR says, “Cesar Chavez inspired the world. Larry Itliong inspired Cesar Chavez.” Cesar Chavez, the labor rights activist to whom Cesar Chavez Day is dedicated,…
AN offer in compromise (OIC) allows you to settle assessments for tax, penalties, and interests at less than the assessed amounts. You can apply for an OIC if there is doubt as to liability or as to collectibility. The bases of an OIC are discussed in our other newsletters. Let me give you 12 tips…
CREDIT cards can be convenient and handy especially in times of financial emergencies but when the accumulated debt gets out of control, it can lead to long-term financial stress. Some people seem to be OK just making minimum payments for a while but unless they stop borrowing, they get to a point where the payments…
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 hand. Would you know what to do? Dental first aid saves teeth Knocking out or fracturing a tooth is especially distressing—just thinking about it can…
