READ this if you owe the IRS money and can’t pay. IRS problems have a way of ruining all aspects of your life. They take a toll on you FINANCIALLY, PHYSICALLY AND EMOTIONALLY. They’re there when you go to bed at night and they’re there when you wake up in the morning. The IRS is…
“To have lived a meaningful and productive life is such a wonderful thing, but to live a life that will be remembered for the wisdom it shared with others is admirable, and a blessing to the people it has touched.” The late Sudono Salim also known as Liem Sioe Liong’s legacy remained for the world…
Last week, President Obama finally fulfilled his promise to provide executive amnesty to those who do not have legal status. The President did not call it amnesty, but in fact it is amnesty because his program gives legal status for a period of three years and gives eligible candidates a work permit to work legally…
CLIENT presents his financial problem as follows. It’s quite interesting and unusual. Client registered a partnership with his younger brother, each owning 50% of a retail business 20 years ago. The business did very well until recently due to increased competition that slowly crept up over the years. Then disaster struck. A fire occurred in…
YOU plan to sell an apartment building that you purchased 10 years ago at $300,000. It is now worth $800,000. You want to sell but are worried about potential taxes. And rightly so. Your tax preparer computes capital gains and gives you a combination of good and bad news. The good news: the capital gain…
Q: SEVERAL weeks ago, I was diagnosed with a medical condition that required me to go to my doctor every week for treatment. I had informed my supervisor about my need to take 2-4 hours off work every week for a limited period of time. Last week, HR told me I had too many absences….
FROM what I’ve witnessed in the last 15 years as a bankruptcy attorney, debt problems can put a huge stress on any marriage. When couples are going through a financial crisis, they are often deeply frustrated with one another especially when they are not on the same page as to what they need to do…
If you have been thinking about marketing your company or brand, you have probably heard these buzz words: paid media, owned media, and earned media. You might be asking yourself “What is the difference?” It is mind boggling trying to understand what is going on in marketing these days. Last month, we discussed paid media—referring…
It surprises people to learn that dentists are often first to discover health conditions like HIV, diabetes, and some forms of cancer. In part, that’s because we typically see you more often than your physician does. THERE are more bacteria in your mouth right this minute than there are people on this planet. Thoughtful dental…
SHORT sale occurs when a property sells for less than the remaining amount of indebtedness. Banks can go after homeowners for the deficiency – the difference between a low sales price and a high loan amount. The passage of two anti-deficiency judgment bills is a victory for California homeowners who have been forced to short…
Q: AT work, we are required to wear a uniform, which only the employer can provide. The cost of the uniform is deducted from our pay. Is this deduction legal? A: No, this deduction for employer-mandated uniform is prohibited under California law. If the employer requires its employees to wear uniforms at work, the employer…
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. Then…
WHEN it rains, it pours. When push comes to shove, and your back is up against the wall, you may think of many desperate things that you can do to relieve the enormous emotional and mental stress that you are going through. But I can tell for certain as I have seen literally thousands of…
WE will discuss two new cases involving clients who seek a fresh start in life with no debts owed to anyone. Both sets of clients are in their forties. The first client is a couple in their forties with young children who are aged 3 and 7. Husband works for the county of LA and…
TOUGH times may necessitate dipping into your retirement funds before retirement. Look at the tax impact of such a move. You may be shocked to find out what you are left with – as little as half or two-thirds of what you withdraw. Here are 10 facts about early distributions. 1. Payments you receive from…
EVERY now and then, our law firm receives calls from persons who inform us that supervisors reduced their hours, or suspended them for a trump up charge, in order to “get back,” or get even with them for “talking back,” or telling the supervisor he was wrong. The aggrieved employee then asks if they can…
THE recession has been tough on a lot of small businesses. And if you have a family-owned business that is your only source of income, the business may not even be making enough to pay its own expenses- let alone pay you. Good business practice says that you should pay yourself first but in practice…
HAVE you ever accidentally bitten down on a little piece of aluminum foil? Have you experienced that quick zap of pain? Perhaps a little piece of foil was clinging to the tortilla when you unwrapped your taco during lunch. When that foil came in contact with metal in your mouth (such as an amalgam filling, a metal crown, or…
IF YOU earned income in the last few years but didn’t file a tax return because your wages were below the filing requirement, the Internal Revenue Service may have some money for you. The IRS also has millions of dollars in checks that are mailed but returned each year as undeliverable. There are two types…
KINDRED Healthcare Incorporated, a healthcare services company that operates hospitals, nursing centers, and rehabilitation services nationwide, was sued by its health care employees in California. The employees alleged that Kindred violated labor laws by failing to pay the correct overtime rate, failing to provide meal periods, and failing to give accurate itemized wage statements to…
Do you want to get out of debt but are afraid that filing bankruptcy may only make things worse for you? Facing difficult financial times can be a frightening thing for a lot of people. When bill collectors are calling day and night, at some point, you realize that something must be done but you…
I REMEMBER client the first time I met her 15 years ago. At that time, she was only 30 years old and had just started working as a registered nurse after obtaining her graduate degree in nursing. I won’t tell you how old I was at that time but I certainly wish I were also…
1. IRS wants you to keep good records to document your income and support your expenses. It does not require you to keep records in any specific manner, but there are proven ways to keep good files. Read on. 2. There are two basic types of filers: the rat pack that hoards files for 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…
I KNOW we’ve never met. But there’s a common concern we all share. As a debt relief attorney, I hear it from people who consult with me every day. It is this: The possibility of losing what we’ve worked hard for all our lives…our homes, our savings, our retirement money, our business, etc. Why is…
What is the first thing you do when planning for your daily commute? You probably watch the news, check for train or bus delays on the internet, or check a navigation app on your phone for the most efficient ways to get to your destination. Based on traffic or accidents, you might even consider alternative…
“Taxpayers who are hit with the 20 percent penalty for negligence or disregard of rules may try to establish reasonable cause for underpayment and show that you acted in good faith.” AS OUR tax laws become more complex, we find it more difficult to comply. As we fail to comply in filing or paying required…
Q: I HAVE worked at XY Company, a big processing plant in the Inland Empire, for many years. My direct employer is really ABC LLC, which subcontracts labor to XY Company. My coworkers and I often work more than 8 hours per day, 6 to 7 days per week at XY Company but we are…
PEOPLE come to me every day with different reasons for getting out of debt. Most of the time, I’m thinking that they would have been better off had they come to me sooner to get help. Had they done this, they’d be doing a lot better by now and could have avoided a lot of…
HERE it comes! The season of ghosts, ghouls, witches, and, of course… candy! If you’re savvy about it, there’s no reason for your Halloween fun to come at the expense of your dental health. Rule 1: A little candy all at once is probably better than candy all day long When it comes to your…
