Category: Business

No in-laws! THIS is the first of 10 unwritten commandments which John Gokongwei, founder of the Gokongwei group of companies, followed in running the family business “the Gokongwei way.” (I…

TAXPAYERS who have filed income tax returns using Schedule C, Profit or Loss from Business, usually get surprised when they receive a notice from the Los Angeles City requiring them…

Society is becoming more individually oriented.  More and more single occupancy homes are being sold.  People are marrying less and later in life.  They are also divorcing more.  Single parent…

ON A typical Tuesday during this tax season, I’ve had three new tax clients (who were previously with other preparers) – all of them have just recently been audited on…

While the image of a puffy-cheeked ball player might first come to mind when mentioning chewing (“spit”) tobacco, the reality is that smokeless tobacco is also a daily habit to…

WE SEE these too often among our kababayans in the home care or home health business. Receiving 1099-Misc seems to be the overwhelming means of income reporting in this field of work….

INCOME tax season brings with it promises of easy and quick access to money. We have often heard some tax preparers, even the big chains, offering Refund Anticipation Loans (RALs)….

Have you ever asked yourself, “Could my smile be brighter?” or “Is it possible for me to get my discolored, (misshaped, chipped or crooked) teeth to look good?” Thanks to…

IT’S PROBABLY the cliché of our economic times: foreclosures and short sales one after the other have triggered too many sleepless nights among honest Americans who were trapped into mortgages…

Halitosis (bad breath) is a common oral health concern. Whether one’s chronic bad breath (as opposed to temporary “morning breath,” or bad breath from garlic, onions or other odorous foods)…

CONSIDERING our close relationship ties, it is most likely that at least once in your life you’d be asked to co-sign for a loan for a family or a friend-…

INCOME taxes. For the lower income earner, it is a welcome relief as the government bestows tax credits and benefits. But for the medium to higher income earner, it’s usually…

When we notice someone with discolored teeth,  we usually assume it’s due to smoking, a  high consumption of staining foods and drinks, or some other common reason.  There’s another cause…

MORE and more taxpayers have been receiving it from the IRS….. the audit letter asking to substantiate tax deductible expenses claimed in a prior tax year. In fact, some taxpayers…

GOING to college is a good thing as it can open greater opportunities for employment and has the potential to transform someone to higher level of success. There are various…

THE Bush-Era Tax Cuts was set to expire on December 31, 2011 and one of those that would have been greatly impacted is the Child Tax Credit (CTC), one of…

DESIGNED to supplement the wages or earned income through self-employment of working families, the Earned Income Tax Credit (EITC) benefits taxpayers who are either low or moderate income earners by…

Dear Dr. Val, My gums are irregular and they make some of my teeth smaller than the rest . What can I do ? Thanks Gummy Bear Dear Gummy Bear,…

Enamel is the hard, protective outer layer of your teeth. If it erodes, it can be very uncomfortable, with symptoms ranging from tooth sensitivity and discoloration, to painful cracks in…

HOW much of their home office expenses can be deducted is one of the most misjudged tax questions faced by home workers. The reality of home office expense deductibility is…

TOO many times, taxpayers receive a surprise letter from the IRS, and even the Franchise Tax Board, on taxes owed from a cancelled debt acquired through debt settlement or debt…

“I’VE never felt so vulnerable about this disease until now”, I told my neurologist in an unusually poignant voice. Diagnosed with systemic lupus erythematosus (simply called lupus) in September 2007,…

WHILE we approach the last quarter of the year, this serves as a reminder that it’s neither too early nor too late to plan and strategize your income taxes for…