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…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
Read More
[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…
The pilot project of SFIO: Epiphany Cafe’s global expansion
EPIPHANY Café [franchise group] was born from a love of coffee and donuts. Through passion, and much dedication, Epiphany Café quickly became the gourmet donut café in Hamilton, before expanding…
SFIO kicks off US education road tour
Smokefree Innotec, Inc. (SFIO), a New Zealand-based Filipino company, is starting its educational road tour in the United States. The company’s chairman, Jeths De Jesus Lacson, announced that SFIO has…
[COLUMN] Are your debt problems getting worse every month?
IF you are searching for debt reduction solutions, no doubt you’ve been inundated with advertisements for various debt management programs, companies and solutions. The choices seem confusing to the average…
[COLUMN] Should I buy or rent?
THE ongoing debate of real estate is — “Should you buy or rent?” The right answer is: it depends. It depends on your situation and the factors in your lifestyle,…
[COLUMN] Social Security taxes
Biden tax plan series WHAT is the Social Security tax? Social Security tax is levied on both employers and employees to fund the Social Security program. It’s collected through payroll…
[COLUMN] Is unfair romantic favoritism at work sex discrimination?
William Maner worked for decades as a biomedical design engineer in the laboratory of employer, Dr. Robert Garfield. Garfield’s laboratory initially operated in Texas. Maner’s coworkers were Dr. Yuan Dong,…
[COLUMN] Defrauded seniors left with $100K debt need Chapter 7 relief
SENIOR no. 1 and senior no. 2 are in the same boat. They each have car repossession deficiencies of over $100,000 and business credit card debt of $50,000. Just by…
[COLUMN] Is your child ready to handle their own finances?
By Cora Mopera, Branch Manager, Chase Managing your money can be overwhelming but it doesn’t need to be. Understanding things like budgeting, saving, paying your bills, and even building your…
[COLUMN] Pandemic financial hardship: Can bankruptcy help?
Most debt problems don’t go away and solve themselves. They are there when you go to bed at night, and they’re still there when you get up in the morning….
[COLUMN] Treatment of 1031 ‘like-kind’ exchanges
Biden tax plan series A certain provision in the Internal Revenue Code allows you to defer (postpone) gain on the sale of a business or investment property. “Tax deferred” means…
[COLUMN] Bankruptcy is most effective & least costly way of getting rid of debt
PAY debt off completely There are, of course, different ways of getting rid of debt. The most obvious is just pay it off. Let’s say you owe $50,000 of credit…
[COLUMN] Misclassified independent contractors are entitled to back pay and damages
Lime runs electric scooters, electric bikes, normal pedal bikes, electric mopeds and car sharing systems in metropolitan areas to customers through its mobile app. Lime hires persons known as “Juicers”…
[COLUMN] My house needs major repairs and I need to sell now
IF you’re in this situation, your question is probably: “Do I need to make repairs?” The quick answer is “No, you don’t need to make any repairs.” The real questions…
[COLUMN] Are you facing a debt crisis?
NO one ever wants to 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…
[COLUMN] Multiple defendants, single cause
SOME premises liability cases involve multiple negligent parties who cause the plaintiff to suffer one single injury. In representing a single plaintiff in such a case, it may be difficult…
[COLUMN] Do I have to disclose my bitcoin to my spouse in my divorce case?
BITCOIN and other cryptocurrency has become popular lately as a new store of value. It is decentralized and not subject to regulation in any jurisdiction. It can be stored in…
[COLUMN] Client seeks Chapter 7 relief for $100K credit card debt
THE client is 45, married with two sons, 16 and 12. He used to own and operate, together with his wife, a small business, which started in 2014. They sold…
[COLUMN] New guidance on sexual orientation and gender discrimination at work
CAN an employer fire someone simply for being gay or transgender? No, according to the U.S. Supreme Court in its landmark decision in Bostock v Clayton County. Title VII of…
[COLUMN] Long-term capital gains new tax rates
Biden tax plan series WHAT are capital assets, capital gains and long-term capital gains? When you sell a capital asset for more than you paid for it, you realize a…
Philippine Airlines files for bankruptcy, announces restructuring plan amid pandemic
Flag carrier to continue operations, eyes exit from Chapter 11 before year-end NATIONAL flag carrier Philippine Airlines (PAL) has “voluntarily” filed for restructuring under a Chapter 11 plea in the…
[COLUMN] COVID-19 pandemic: Filing bankruptcy when necessary
MOST debt problems don’t go away and solve themselves. They are there when you go to bed at night, and they’re still there when you get up in the morning….
[COLUMN] How to prepare for Biden’s tax increases
Here are some ways to prepare for Biden’s tax increases: Accelerate 2022 income into 2021 to avail of lower tax rates in 2021. Defer 2021 deductions into 2022 when you…
[COLUMN] What to do with conditional green card status in troubled marriages
Marriage for many persons is the culmination of one’s life. Getting married signifies the beginning of a new phase in life, both socially and economically. For those persons who lack…
[COLUMN] What happens to your business if you file for Chapter 7 bankruptcy
THE client owns a restaurant that survived the pandemic with take-outs. The commercial lease for the restaurant is in the name of the client. The client is the sole proprietor…
[COLUMN] Do employees have remedies for claims too small to file in court?
I WORK for a company that shorts us on pay, nothing big, like 15 minutes of overtime two to three time per week and breaks that are not provided once…