When to use chapter 13
CHAPTER 13 is normally used to save a house from foreclosure. But this is not the only situation where Chapter 13 is used. When a Chapter 13 petition is filed,…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
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The ABCs of foreign bank and financial accounts (FBAR)
IF YOU have offshore bank accounts, should you report the accounts to the US government? Yes, if the aggregate balances exceed $10,000 at any time during the year. What if…
When employees blow the whistle on employers
DAVID Bryant worked for 22 years for San Diego Gas and Electric as a bill collection clerk and then as a senior collector. For several years, he has reportedly complained…
Dieting? Four tips to keep your smile healthy
ARE you setting weight loss goals? Great! Just remember to stay healthy—and that includes taking good care of your teeth while dieting. Connections between oral health and whole body health…
Are you feeling hopeless about your debt problems?
THE last few years have been financially difficult for a lot of people. When the real estate marked crashed a few years ago, millions of people found themselves with a…
When you should use Chapter 7 debt relief
THE Supreme Court of the United States has often called Chapter 7 bankruptcy the “Fresh Start”. This is an accurate description of debt relief given by Chapter 7. Debtors are…
Remedies for employees who suffer age discrimination
IN February 2010, Cable’s Restaurant in Woodland Hills, CA was acquired by GACN, Inc. During the acquisition, the employer promised that veteran servers Martha Aboulafia (57 years-old), Cheryl Colgin (57),…
7th Case Report of California Certified PA (Public Insurance Adjuster) Jae Park- “Should I file a claim?” Water loss at Condo unit owner/ Town house owner at Pasadena/ nearby San Marino, California.
7th Case Report of California Certified PA (Public Insurance Adjuster) Jae Park “Should I file a claim?” Water loss at Condo unit owner/ Town house owner at Pasadena/ nearby San…
6th Case Report of California Certified PA (Public Insurance Adjuster) Jae Park- Water loss at Silverlake/ Helendale, California ( nearby Victorville/ Apple Valley/ Hesperia/ Barstow)
6th Case Report of California Certified PA (Public Insurance Adjuster) Jae Park In August 2012, there was flood damage in Mr. A’s mansion (with floor space of approximately 5,200 sq….
Continued payment of debt after bankruptcy discharge is a gift
EVEN after debtor obtains a bankruptcy discharge of his debts, he might feel morally obligated to pay a debt for some reason. For example, debtor borrowed $20,000 from his “rich…
Violating confidentiality agreements may cost you
How social media postings can harm an employment case THE internet has become a powerful instrument for socializing and reaching people. Networking sites are now virtual coffee shops for meeting…
Stop borrowing or you’ll be stuck in debt
EVERY day, I meet with a lot of people who are sick and tired of being in a financial mess but they are unwilling to pay the price of being…
Tax consequences of debt discharge
MANY financially distressed borrowers lost their homes and had their loans cancelled during and after the recession. It was a relief to have their debts reduced or forgiven, but the…
While you bathe in the sun, what do your teeth bathe in?
WHEN it’s warm outside we all enjoy our favorite warm weather foods and beverages. Have you ever considered how some of these affect your smile? You may be surprised. Here’s…
Legal treatment of foreclosure deficiency
A FORECLOSURE deficiency is the amount you legally owe to the creditor after the property is foreclosed upon by the creditor. If a car is repossessed, the creditor takes it…
How IRS audits attorneys
IRS agents are equipped with a guide that provides audit techniques to issues unique to attorneys. IRS instructs its agents to probe into the following areas: – Unreported income, deferral…
Higher overtime rates may apply for some employees
ACCORDING to recent reports, Sarah Chookey worked as a commissioned sales employee in the automotive department of Sears in its branch in Thousand Oaks, CA. Apart from commissions, Ms. Chookey…
Warning: Ignoring your debts is not a good idea
YOUR debt problems may be undeniable. You know they are there and they will not go away until you do something about them. Perhaps at some point, you took the…
Arbitration agreements: Are they good for employees?
Q: WHILE applying for work at a company, I was asked to sign an “Arbitration Agreement.” I was told it’s part of the application. What exactly is an arbitration agreement?…
Don’t wipe out all your savings to pay debts
LIKE most people, you’ve worked hard and have done your best to pay all your bills on time. But in life, at one time or another, we all find ourselves…
How to spot an IRS fraud audit
IT STARTED with a letter from the IRS. Your tax return has been selected for examination. You suspect that something is wrong. Is it possible that the agent suspects fraud?…
Closed bankruptcy case may be reopened to litigate dischargeability issue
ONCE a Chapter 7 bankruptcy is filed, the clerk of court sends out a notice of case commencement to all creditors listed in the mailing list of the petition. The…
Is IRS offset of refund violation of bankruptcy stay?
CLIENT files a chapter 7 bankruptcy to discharge $100,000 of income taxes. He files his bankruptcy on March 30, 2014. On schedule B of his bankruptcy petition, he claims his…
How IRS scores your income tax returns for audit Part 3
(Part 3 – Audit Scores) This is the last of three articles on how the IRS receives, validates, stores, and scores tax returns for audit. – How efiled and paper-filed…
When piece-rate pay deprives employees of wages due under the law
Q: I WORK for a company that pays us on a piece-rate basis for every task that we finish. A task may take several hours to complete. If we do…
Is your situation forcing you to file bankruptcy?
FACING serious debt problems can be depressing to a lot of people. It may seem like the end of the world. You may feel angry, depressed, guilty- or a combination…
Means test misstatement may be proof of fraudulent intent
THE means test is the IRS based form of calculating disposable income in bankruptcy to determine if the case should be a Chapter 7 or Chapter 13; and if a…
How IRS scores your income tax returns for audit Part 2
(Part 2 – Master Files) LAST week we discussed how tax returns are received, verified, and reviewed for completeness. Let’s now discuss the second of a three-part series on how…
Working beyond your regular duties: Should you be paid?
Q: I WORK at a retail company and every employee is required to “pitch in” when it becomes busy. Stocking shelves, cleaning, and putting away merchandise are not part of…
Are you sinking deeper into debt every month?
TOUGH financial times are pushing strapped consumers over the edge. Delinquencies and balances on delinquent credit cards are on the rise with no signs of slowing down. Faced with layoffs…