Income tax refund is property of bankruptcy estate unless exempt
LET’S say that you decide to file for Chapter 7 relief this month to discharge $100,000 of hospital bills and credit card debt. You anticipate that you will have an…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
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Being absent from work due to medical condition: Are employees protected?
Q: I WAS diagnosed with a medical condition which requires me to miss some days of work. I had told my boss about my condition and I submit a doctor’s…
Facing the reality of debt problems is never easy
Most of my clients know that they should pay attention to their finances, especially debt problems that won’t just go away. They know they need to get help and that…
The connection between gum disease and dementia
NEARLY all of us experience?bleeding gums at some point in our lives. But don’t assume it’s no big deal. Gum disease can have serious consequences including?pain, chronic bleeding and tooth…
Discharging income taxes in bankruptcy
(Part 2) LAST week, we established the fact that back due income taxes can be discharged in bankruptcy, despite the popular belief that this was not possible. We said that…
10 facts on early distributions from retirement plan
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…
Thanksgiving accident results in over $150 million wrongful death verdict
ON November 22, 2009 at about 5am, Michael and Shannon Asam were travelling with their young children, Brennan (14 yrs old), Blaine (11) and Kylie (9) on their way to…
Debt problems: Don’t wait until all savings and assets are gone
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, all of us get…
5th Case Report of California Certified PA (Public Insurance Adjuster) Jae Park; Apartment Complex Sustained Fire Damage & Co-Insurance Penalty
5th Case Report of California Certified PA (Public Insurance Adjuster) Jae Park; Apartment Complex Sustained Fire Damage & Co-Insurance Penalty. In the spring of 2012, a fire broke out in…
Discharging income taxes in bankruptcy
MANY people have the mistaken belief that back due income taxes cannot be discharged in bankruptcy because a debt owed to the Federal and State government cannot be wiped out….
IRS warns of scams relating to relief for Typhoon Haiyan victims
THE Internal Revenue Service issued an alert about scams relating to Typhoon Haiyan (Yolanda in the Philippines). As you may have seen at CNN, Asian Journal, and other media, Haiyan…
Employee awarded $749,000 for age and disability discrimination claims
SHARON Warehime worked as a claims adjuster for Farmers Insurance for four years. In June 2006, at the age of 61, she was terminated after coming back from a medical…
Don’t let your debts grow Faster than your income
Are your growing debts starting to cause you sleepless nights? Are you trying hard to pay what you can every month but feel like you’re just running on a treadmill…
Worried about debt? Think of Jonah and the whale
THE Bible has a strange story about a man being swallowed up by a whale. This man is Jonah. God, my God, the God of Moses and Israel, who sent…
Can you be deported for filing false tax returns?
IN A landmark case, the Supreme Court has held that a conviction for willfully filing a false tax return is a deportable offense under our immigration laws. It reached the…
Should employees be paid for night time hours spent at the work site?
Q: AS an onsite security guard, I am required to stay on the premises for 24 hours. My on-duty hours are from 6am to 6pm. I am off-duty and considered…
Get out of debt now before the new year starts
The decision to file bankruptcy is not an easy one but sometimes it’s the decision that could change your life for the better. When you are seriously in debt and…
Reducing canker sore pain and duration
The exact cause of canker sores is unknown. What we do know is that canker sores can be extremely bothersome! By better understanding some of the possible causes—and some treatment…
Your debt problems will fall like the walls of Jericho
THE Israelites have just ended their 40 years of wandering about in the Sinai Desert after God delivered them from 400 years of bondage in Egypt. God, my God, the…
10 recordkeeping tips for your tax files
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 multi-tasking managers or supervisors entitled to additional pay?
Q: I WORK as an assistant manager for a retail store. I am a salaried employee and exempt from overtime. Upper management requires me to multi-task and do the work…
End financial stress with bankruptcy protection
Are you struggling with debt problems? Are you doing your best to pay but simply can’t? Have you thought of filing bankruptcy but are afraid that this might not be…
Don’t be weighed down by debt problems: Plug yourself to ultimate power
IT IS hard to imagine why you should not worry about your debt problems, right? Probably everyone reading this article thinks that the right thing to do if you have…
More pro-employee laws signed this year
MORE employment laws were recently passed by California’s lawmakers. These include: New minimum wage laws to take effect in 2014 The new law raises the $8 an hour minimum wage…
Bankruptcy: Should I file now or later?
MAKING the decision to file bankruptcy can be a painstaking process that most people put off until they realize that they have no other way out of debt. Unfortunately, however,…
Ages 65+: Your healthy smile timeline
Today, modern dentistry helps people keep their smiles for life DURING generations past, lost teeth were considered an inevitable consequence of aging. Now we know how to better care for…
Tired of worrying about debt? Rest in green pastures with Jesus
WE worry about so many things that are not on the right track in our lives. We worry about our children and their future. We worry about our retirement. Are…
Real estate title choices
WHEN buying and selling 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,…
Employer threats of deportation now illegal
THE struggle to help immigrant workers enforce their basic labor rights recently gained a major boost in California with the passage of new employment laws. Two laws are intended to…
Do you need to file bankruptcy again?
Eight years ago, Congress passed new federal laws that made it tougher to file personal bankruptcy. This happened at a time when thousands of families were living in financial distress…