Reduce stress by reducing your debt
DO you dream of simplifying your life, reducing your stress and regaining control of your financial future? Everyone dreams of living a debt-free life and yet we know that today,…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
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Debt problems? Think of Lot & his daughters
LAST week, we talked about the destruction of the cities of Sodom & Gomorrah by burning sulfur that rained from the heavens. If you go to Israel today, it is…
FAQ #2 – FBAR financial accounts
THE IRS issued new guidance requiring individuals with an interest in a “specified foreign financial asset” to attach a disclosure statement to their income tax return for any year in…
Short sale legal and tax implications
THE good news is that tax relief has been enacted for homeowners doing Short Sales. The Federal Mortgage Debt Relief Act of 2007 HR 3648 and Federal Bailout Legislation HR1424…
Immigration status is not a bar to claiming unpaid wages
ALL workers are protected by California’s laws regulating wages and working conditions. The protection applies undocumented workers who are entitled to the following rights: – The prevailing minimum wage (currently…
Four reasons why laughter and a confident smile are life changing
BECAUSE it usually happens spontaneously, we don’t often think about smiling or laughing. However, they both really do make us feel better—and, studies continue to reveal more of their many benefits….
Don’t be fooled by credit card illusion of wealth
ACCORDING to a recent study, a majority of people in this country are living way beyond their means. In keeping up with the Jones’s, these people have resorted to using…
Can you trust the IRS to do your taxes?
It is alarming to hear that the IRS has proposed a plan to Congress that will take away our independence as tax filers and instead force us to rely on…
Worried about your debts? Think of Sodom & Gomorrah
CLIENTS think that their debt problems are so serious. But debt problems can be solved with a bankruptcy fresh start Chapter 7 discharge of all debts while debtor is allowed…
FAQ: FBAR filing requirements
NEW Foreign bank account rules were designed to combat money laundering, terrorism, and tax evasion. Unfortunately, folks like you and me get snared in the process. We get penalized if…
You were fired: Now what?
KNOWING your rights upon the end of an employment relationship may help you weather the transition of being in between jobs. The following provides some helpful guidelines: First: Make sure…
Keeping your upside down property to survive?
I AM tossed between my usual practical beliefs and a survival situation that is very common with retired homeowners. A lot of homeowners rent out rooms to make their mortgage…
Filing bankruptcy to get rid of credit card debt
IT IS not difficult to get into credit card debt. If you are used to buying things on credit, perhaps you don’t even realize how much your borrowing is really…
1st Case Report of California Certified PA (Public Insurance Adjuster)
In February 2012, a flood occurred in the luxury house (with an estimated value of at least 1 million dollars) located in Tustin Valley, L.A. County. The homeowner, a male…
Your debt problems and Hosea
“ The LORD said to Hosea, “Go, take to yourself a wife of harlotry and have children of harlotry; for the land commits flagrant harlotry, forsaking the LORD.” IF YOU…
Are taxes dischargeable in a Chapter 13 bankruptcy?
YES. Some are. Let’s discuss taxes, penalties, and interest that are not dischargeable in a Chapter 13 filing. The Chief Counsel of the IRS examined which tax claims are nondischargeable…
From wage violations to human trafficking?
The story of a Saudi Princess and her 5 maids THE Los Angeles Times, NBC, CNN and other major news outlets report that on July 10, a woman identified as a…
Warning about short sales
STILL dealing with the burden of owning a house that is underwater at this stage of the late stage mortgage meltdown we had has got to be much more frustrating…
Debt problems: Why being in denial solves nothing
NO one ever wants face a debt crisis but at one time or another in your life, you may have to deal with one. Having debt problems does not make…
Your debts and Samson Part 2
(Part 2) LAST week, I said that if you have debt problems, think of Samson. We ended last week with Samson having wrecked havoc on the Philistines by killing a…
Private contractor employees on public projects are entitled to prevailing wages
CALIFORNIA law has special wage requirements for labor performed on state public works by private or non-government workers. “Public works” to include any construction or repair work performed under contract…
Will rising mortgage rates affect the momentum of the real estate market?
I AM concerned about the fast rising mortgage rates that seems to be headed only one direction which is higher but I see the other side of this rate hike,…
Building governance systems to avoid sibling rivalries
“Every policy setting process stregthens and unifies the family and increases the likelihood of long term business and damily success, survival and prosperity.” – JS Strachan Running a family business with…
Instilling professionalism in the family business
“Its hard to move forward on Governance policies and Succession until the family has established some form of mutual respect among its members” Sibling rivalry is a conflict that could last…
Bankruptcy is more than just getting out of debt
STATISTICS show that approximately 1.5 million people file bankruptcy in the United States every year. There are different reasons for filing- unemployment, foreclosure, medical bills, overwhelming credit card debts, etc. …
Your debts and Samson
(Part 1) IF YOU have debt problems, think of Samson. Samson lived in Israel about 1200 B.C. Before he was born, the Israelites betrayed the one true God again by…
Firing employees due to injuries may constitute disability discrimination
CALIFORNIA law prohibits discrimination based on disability or medical condition. An employer may not terminate or discriminate against an employee in compensation or other conditions of employment based on the…
Cancellation of debt due to foreclosure
A CONCERN that is growing rapidly is the cancellation of mortgage foreclosures. Although these are leading causes, they are not the only ones; cancellation of debts could be from consumer…
Warning: Before you hire a debt settlement company
“Federal and state collection laws prohibit abusive collection tactics but the reality is that a lot of bill collectors do not follow these laws and will make your life miserable…
Your debts and seven loaves of bread
IF YOU have debt problems, think of seven loaves of bread and two fish. A crowd of 5,000 men, their wives and children, making the crowd about 15,000 to 20,000,…