Chapter 13 discharge of $330K judgment CLIENTS are young seniors in their early sixties who have good income at $200K annually. Both husband and wife are in the medical field. Thinking that house values would keep escalating in 2007, they invested in an expensive house, which required them to have a second trust deed of…
TONGUES are remarkable engineering wonders. They help us nourish ourselves and clean our teeth. They’re a vital part of our oral and whole body health. How do we keep them clean and healthy? Brush your tongue daily Your tongue hosts up to 10,000 taste buds. It also harbors billions of bacterium. That oral bacteria can contribute to tooth decay, gum…
“In a family business, it’s the third generation that presents the big problems. The first generation founds the company and has the drive and the dedication to move it forward. The second generation rides that wave. The third generation wants to do their own thing. They’ve seen Broadway; they’ve had all the advantages. Gale Petronis…
Statute of limitations CLIENT says that he owed about $50,000 of credit cards, which he stopped paying in 2007. But last month, he received a copy of a judgment for $21,000 for one credit card. I looked at the judgment, and it says that the judgment was entered on July 12, 2013. He says that…
(Part 1 of 3) BAN on Plastic Bags: New law requires that supermarkets and large pharmacies stop distributing plastic bags effective July 1, 2015. The ban will include convenience stores in 2016. The law does not apply to bags used for fruits, vegetables, or meats. Bike Trails: Local agencies, including cities and park districts, may propose…
CLASSIFYING workers as ‘independent contractors’ (ICs) allows businesses to pass on the costs of running the business to workers. This ploy, however, did not fool the federal Court of Appeal when it ruled against FedEx Ground Package System, Inc. (FedEx) in one of the most important cases to come out last year concerning the correct…
ARE you struggling with debt problems and don’t know what to do? Are you unable to sleep at night worrying about your finances? Has the idea of filing for bankruptcy crossed your mind but you’re not sure if this is the right thing to do? Relax. Most people in your situation feel the same way….
Overcome your fears: Make your dream family business real this year! IT sounds and feels great to be born in a family that owns a business. If you are born in a family that successfully owns a family business, you would know that despite the hardships it entails, there is pride, honor and a relatively…
“ Be careful when having your residence deeded to a living trust. Upon death, if the A/B trust splits into a trust (Survivor’s Trust A) and an irrevocable trust (Bypass Trust A), there could be tax consequences. If the residence is assigned to the irrevocable trust, the exclusion is lost. That may not be a…
THE year 2014 has been an interesting time for employment law with the legislature and the courts defining additional protections to employees. The following are some of the laws that may interest our readers: New minimum wage laws took effect in July 1, 2014 Effective July 1, 2014, California’s minimum wage was raised from $8…
IF you are experiencing debt problems, you may find it difficult to talk to other people about it to the point that you are not getting the help that you need to find a solution. I understand. Debt is a very personal matter so most people don’t feel comfortable discussing it with anyone. Like most…
The holiday season is upon us and is my favorite time of the year! Not only do I get chance to catch up and have a feast with my family and friends, it’s also very busy at PCA with client planning for the upcoming year. I’ve covered many aspects of marketing in my previous columns…
Chapter 13 confirmed ON DEC. 17, the court approved my client’s Chapter 13 case in Riverside. In Riverside, the 341 meetings presided by the Chapter 13 trustee are held in the morning, and the confirmation hearing of the case before the judge is held at 1:30 PM of the same day. In Los Angeles, Woodland…
• Gambling winnings are always taxable and must be reported on your tax return – with or without form W-2G. • Gambling income includes winnings from lotteries, raffles, horse and dog races and casinos. It also includes the fair market value of prizes such as cars, houses, trips or other noncash prizes. • Complimentary goods…
A JURY in Santa Clara County recently issued a verdict of $16.5 million against an online dating website service for disseminating members’ private information to thousands of websites that members did not sign up for. The Complaint in federal court stated that Successfulmatch.com runs several websites that offer dating service to the public. To expand its…
IF you’re one of the many people who got approved for loan modification many years ago under the HAMP Program, chances are that you obtained a low interest rate of 2% for 5 years and then your interest rate is set to increase after that time period. Other homeowners either did not qualify under HAMP…
Are there holidays or special events coming up in your life? If so, chances are there are going to be lots of photos taken. Everyone has a camera now, right? Let’s visit about ways to help you prepare your smile. SOME people are just lucky. They seem to look fantastic in every photograph! Naturally photogenic. For…
IF YOU are thinking of a relative, friend or yourself who may possibly qualify for President Obama’s immigration amnesty, you are probably confused about how this immigration program works. This is not surprising because the President’s announcement only came out on November 21, 2014, barely two weeks ago. The President calls his immigration program “deferred…
(Frequently-Asked Questions on Gift Tax) IF I receive a gift, do I have to pay a gift tax? No. The donee (recipient) is not responsible for paying the gift tax. Who pays the gift tax? The donor (the person giving you the gift) is responsible for paying the gift tax. What is considered a gift?…
WE previously reported on a case of warehouse employees at Integrity Staffing Solutions, Inc., a company which provides warehouse space and staffing to Amazon.com, who sued their employer in a class action, alleging that they spent as much as 25 minutes per day of unpaid time going through required security screenings at the end of…
ARE your growing debts causing you sleepless nights? Are you trying hard to pay what you can every month but feel like you’re just running on a treadmill? Do you get that sick feeling in your stomach every time you realize that you have gotten yourself in more debt than you can actually pay back?…
CHAPTER 7 RELIEF FOR DIVORCED MOM Client is 48 years old and works as an accountant for a business. Her salary is $60,000 a month. Her marriage ended two years ago when she found out that her husband of 15 years had another family in another city. Husband had a 10-year old son with another…
(Part 2 of 2) “Don’t’ be Afraid To Hire Professionals” The Salim Group It is one of Indonesia’s biggest conglomerate with assets including Indofood Sukses Makmur, the world’s largest instant noodle producer, and Bogasari, a large flour-milling operation. The group was founded by Sudono Salim, also known as Liem Sioe Liong or LSL. LSL is…
FOR those with children in high school, the next big expense item they can look forward to, or shall we say, worry about are the college expenses that are just around the corner. Some people started saving for this expense early on but with college tuition even at the UC system increasing every year, only…
LET’S discuss reasons why you should consider filing, even you are not required to: • You expect a refund. You have credits that can generate a refund – from taxes withheld from your paycheck, estimated tax payments, or a prior-year overpayments applied to this year. • You may qualify for Earned Income Tax Credit (EITC)…
ROSARIO Juarez, a former female employee of AutoZone, Inc., the auto-parts retailer, sued her employer for discriminating against her because she was a woman, for demoting her after learning she was pregnant, and for firing her when she filed a discrimination claim. The case was tried before a jury of three women and five men….
ARE you facing a mountain of debt that you can’t pay and don’t know what to do about it? Perhaps this situation is causing you a lot of sleepless nights and making you very nervous. What should you do? Debt problems can wreak havoc on your personal life in many ways. And left unsolved, they…
THE end of the year is fast approaching! Before year’s end, our team wants to remind you to take a look at your dental insurance benefits. Insurance benefits typically don’t roll over to next year Each year your dental insurance company probably gives you a maximum amount of available benefits. Since those benefits don’t typically roll over…
“ If you file for bankruptcy, timing is critical. The IRS cannot and will not entertain your OIC after you file bankruptcy.” 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…
“ According to EPI, even though the restaurant industry is one of the fastest growing sector of the economy, its workers are some of the lowest paid and are much more likely than other workers to live in poverty or near-poverty level.” THE Economic Policy Institute (EPI) recently published a study on restaurant workers, how…
