SFIO: A new age company addressing the ‘new normal’ needs
THE COVID-19 pandemic has turned out to be one of major events that we all have witnessed together. Everyone had different approaches to deal with the crisis which led to…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
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[COLUMN] Top corporate income tax rate
Biden tax plan series WE have been concerned about President Biden’s proposal to raise the federal corporate income tax rate from 21% to 28%. Lawmakers have suggested raising the rate to 25%. Including…
[COLUMN] Termination of employee during medical treatments violates disability discrimination laws
Albert and Stephanie Garcia, a married couple, were hired in 2013 by Sierra Management to work as on-site managers of an 81-unit apartment building in Canoga Park. The Garcias were…
[COLUMN] Client files Chapter 13 for $400K unsecured debt
THIS is what I call a borderline Chapter 7 case with asset. Therefore, it is the better part of caution not to file Chapter 7 because the asset may be…
[COLUMN] Bankruptcy can be the first step to financial recovery
I remember the story of a poor, old beggar who died one day- and to everyone’s surprise, a money belt found wrapped around his waist contained thousands of dollars in…
Big Lou’s Donuts clinches multiple multimillion-dollar Australia-wide supply contracts, including with Metcash, FoodWorks and Foodland
THE Australian-founded Big Lou’s Donuts, which specializes in producing a wide range of commercial donuts for retail, wholesale, events and corporate markets since 2008, recently sealed several deals with national…
[COLUMN] How to naturalize as a US citizen
TO most immigrants, obtaining their greencard has been a long and challenging journey. However, it should not be regarded as the final destination. The real American dream is to become…
Report: Apple threatened Facebook ban over abuse of Filipina domestic workers
A NEW report revealed that Apple once gave Facebook an ultimatum over the abuse of Filipina domestic workers in the Middle East. “Two years ago, Apple threatened to pull Facebook…
[COLUMN] How’s the housing market?
AT the end of September 2021, the Southern California housing market continued to increase in comparison to the prior year (September 2020)*. Los Angeles County showed an increase of 8.7%…
[COLUMN] Reduce your debt by filing Chapter 13
ARE you struggling to pay your debts every month, especially your credit cards? Do you barely have anything left to pay your mortgage, rent, food and other basic living expenses…
[COLUMN] Client relies on 3 bankruptcies in 12 years to save house, wipe out debts
I recently finished attending the telephonic bankruptcy hearing with my client and am reminded of his bankruptcy saga over the last 12 years. The client is married and 82 years…
[COLUMN] ‘Silenced no more’ laws: Employees may disclose acts of discrimination & harassment
IN the wake of the #MeToo movement, there has been a lot of attention focused on non-disclosure agreements (NDAs), also known as confidentiality agreements (CAs). Sexual harassment victims who agreed to settle their…
SFIO’s The Global Academy in partnership with FPACC aims to guide businesses in their journey of digital transformation
THE existence of the COVID-19 pandemic has lasted for almost two years, forcing the world to live in a “new normal.” Due to the constant lockdowns, businesses have been forced…
[COLUMN] When is my prenuptial agreement not enforceable?
MANY people are of the perception that simply downloading a prenuptial agreement from the internet and signing it with their fiance offers them a bullet proof protection from a divorce. …
[COLUMN] Do you have debt problems caused by the pandemic?
WHEN the virus makes your income disappear overnight, it can be very frightening to realize that you can’t go very long without it because your bills don’t stop just because…
[COLUMN] Seniors need Chapter 7 relief for $50K various unsecured debt
THE client is 72. He still works his normal job and makes about $3K a month. He also receives social security of $1K. So, his total income right now is…
[COLUMN] Annual exclusion of gifts
Biden tax plan series WHAT Is a Gift Tax? Gift tax is a federal tax applied to an individual giving anything of value to another person. The donor must report…
[COLUMN] When is my prenuptial agreement not enforceable?
MANY people are of the perception that simply downloading a prenuptial agreement from the internet and signing it with their fiance offers them a bullet proof protection from a divorce. …
Two Filipino-owned firms in New Zealand, Australia ink $100-M agreement
TWO successful Filipino entrepreneurs in Australia and New Zealand recently entered into a $100-M engagement to jointly expand their respective businesses. New Zealand-based Starfleet Innotech, Inc., chaired by Jeths de…
[COLUMN] When is the best time to sell my house?
THERE are two conditions that can determine the best time to sell your house. The first condition is during a “seller’s market” and the second condition is seasonal. A seller’s…
[COLUMN] Step-up in basis for assets transferred at death
WHAT Is a Step-Up in Basis? The term “step-up in basis” refers to the readjustment of the value of an appreciated asset for tax purposes upon inheritance. It adjusts the value of an…
[COLUMN] Misclassified ‘salaried’ employees who work long hours entitled to back wages
AARON Kudatsky worked as an implementation consultant in California for Tyler Technologies, a company that sells business and public sector operations software being used in finance, payroll, billing, and others….
[COLUMN] What is the minimum payment in Chapter 13?
AS you probably are aware, an individual can file either Chapter 7 or Chapter 13 under the bankruptcy code when he or she needs relief from accumulated debt. In Chapter…
[COLUMN] Don’t let credit card debt ruin your life
WHEN it comes to credit card debt, a lot of people are in denial that they have a problem. Of course, denying doesn’t help because until you get to that…
[COLUMN] Will I have to pay spousal support if I file for divorce?
THE purpose of spousal support is not defined by the legislature in that its purpose varies according to the facts and circumstances of each case. The facts and circumstances of…
CGBanco: Not just changing lives, but also the world
GETTING a new business off the ground isn’t an easy feat. Growing and moving it in the right direction aren’t without challenges, too. In a global economy that’s ever-changing, businesses…
[COLUMN] Required minimum distribution for retirement
Biden tax plan series WHAT is required minimum distribution (RMD)? A required minimum distribution (RMD) is the amount of money that you must withdraw from your traditional IRA, employer-sponsored retirement plan, …
[COLUMN] When does filing bankruptcy make sense?
NO one ever likes to talk about bankruptcy. However, it’s simply a fact of life. Things happen. Whether it’s losing your job, going through a divorce, having huge medical bills…
[COLUMN] Senior seeks Chapter 7 relief for $20K credit cards
THE client is 66. He says he is now old all of a sudden. He migrated here in 2004 so that’s 15 years ago. When he deplaned at LAX, he…
[COLUMN] The fight of misclassified independent contractors in the gig economy continues
BACK in 2020, Proposition 22 was voted into law. App-based companies like Uber, Lyft, and Doordash spent upwards of $200 million in funding to get Californians to vote on this…