Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
IF you live in Los Angeles County, or in Southern California — including the counties of Orange, Riverside and San Bernardino County — and you own the house that you live in, now is a good, no, now is a very good time to file for Chapter 7 bankruptcy for a fresh start. Why? Because…
SPRING is here and summer is just around the corner. As we prepare for the temperature change, it is essential to prepare homes and vehicles for the changing seasons. Every winter, people across the United States prepare cars for snow and rain and rarely remember the importance of preparing vehicles for the summer heat. Los…
Grace Mercado has acquired the Jeanne Jugan Residence owned and operated by the Little Sisters of the Poor in San Pedro, California. Although the Little Sisters of the Poor have operated a Home for the Aged in Los Angeles since 1905, the time had come for them to withdraw from the area due to the…
By Jenny Manrique/Ethnic Media Services From its spot on iconic U Street in Washington, D.C., Ben’s Chili Bowl has served diners for more than six decades: demonstrators from the civil rights march led by Dr. Martin Luther King, African Americans from segregated communities, tourists from all over the world, presidents and politicians. Ben and Virginia…
YOUR credit card payments are past due. You’re confused and don’t know what to do. The bill collectors are calling you non-stop and writing you threatening letters. What do you do? Should you just file bankruptcy? Or are there other options? Most people are unaware that credit card companies will negotiate with you if they…
THE client is 71. Her husband died five years ago, so she lives with her unmarried son who does not have full time or steady employment. She has a large equity in her residence of about $400,000. For her age, the equity exemption for homestead is $175,000. She was a registered nurse when she was…
Q: My spouse and I are expecting a baby and we are trying to figure out how much family leave we are entitled to so we can each spend quality time with our new baby. My spouse works at a small office and I work at a medium sized company in Los Angeles. What are…
PRESIDENT Joe Biden’s $6 trillion budget proposal offers new major initiatives like child and elder care subsidies, generous tax credits for families and the working poor, and free community college. His huge social programs provide a new safety net for the poor and middle class, courtesy of corporations and the wealthy taxpayers. President Biden’s spending…
NEW YORK – During Asian American Pacific Islander (AAPI) Heritage Month, Comcast NBCUniversal celebrated the extensive and often unrecognized contributions that the AAPI community has made to American history, culture and everyday life with a cross-portfolio campaign that spotlights how the community is woven into the fabric of this country with the central theme: “We…
Q: I WORK as a “team member” in the service industry in Los Angeles. Before we clock-in for our shift, we are required to attend a “huddle,” or a meeting where we discuss events during prior shifts, our assignments, etc. These “huddles” last 15 to 20 minutes every day. Should we be paid for these…
LET me give you the background on this case. The husband is 81 but still looks active. He is slim and sprightly. The wife is 79 and looks nervous. Normally, spouses are on the same track and agree with what has to be done. But in this case, I’m not sure what is going on….
THE IRS was underfunded under the Trump Administration. It didn’t have enough personnel to accomplish its goal. With skeleton force, audit rate declined to only 1/2 percent (less than half the returns they audited in 2010). Even with super low rates, you may still be a target if your tax return contains red flags. Let’s discuss…
CHAPTER 13 is the section of the US Bankruptcy Code that allows individuals in the United States to reorganize their finances. If you are having difficulty paying your debts (credit cards, medical bills, personal loans, taxes, late mortgage payments and property taxes- all kinds of debts) due to insufficient income, there is hope for you….
1. Failing to report some income Failing to report subcontract, interest, or dividend income are easy ways to attract an audit. I know that it’s tempting not to report income without W2s or 1099s but it’s not worth it. Many audits that I’ve handles even have 1099s but are lost or misfiled. IRS received copies…
GEICO has opened a new local office at 3522 W Magnolia Blvd. in Burbank, California. Melody Avecilla will lead a team of licensed agents at the new location. Avecilla has significant experience in the insurance industry. Before opening this GEICO local office, Avecilla gained years of extensive insurance experience while working in auto claims and…
Q: I WORK as a nurse at a facility that has a strict policy of no unapproved overtime. We don’t often ask for approval since we risk being written up for “too much overtime.” We just clock out and go back to work to finish our charts. Do we have remedies? A: Yes. You should…
THE highest-profile cases of bankruptcy filings are Walt Disney, Milton Hershey, Orange County, a certain Catholic diocese in the USA that was hit by the child molestation cases, the Trump companies during the 90s wiping out billions of debt, Toys “R” Us, and Hertz car rentals, among many others. A distinction can be made between…
ARE you seriously in debt and don’t know what to do about your situation? Are you afraid that unless you do something about it, thing will just continue to get worse every day? When people are going through financial difficulty and are unable to pay their bills, their first reaction is often to ignore their…
WITH a bigger budget, IRS recently hired new personnel to increase their historic low audit rates. Here are 7 targets for IRS audits: 1. Non-filers IRS estimates that nonfilers represent $39 billion in lost revenue annually. To make even worse, nonfilers leave the tax system for good. The IRS has restarted its delinquent return investigation and…
Q: I worked in a company for over 5 years. A client accused me of making a mistake in a big order. This was not true. But the new manager, who did not like me and wanted to bring in his best friend to do my job, used the client’s complaint as a reason to…
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 a digital wallet or hard drive. Due to its lack of regulation, it is easy for one to assume that it is not necessary…
A DEBTOR who is 50 has accumulated credit card debt at the rate of $6,000 a year for the last 20 years. Now, he owes $70,000 of credit cards. He needs $2,400 a month of minimum credit card payments to keep all $70,000 current. His mortgage payment is $2,500 with a mortgage balance of $400,000….
WE are facing challenging times brought about by the coronavirus. Since March of last year, millions of people have lost their jobs. A lot of business owners have been forced to shut down. Surprisingly, bankruptcy filings have been down with so many people still waiting to see what happens in the next several months. Unfortunately,…
Brothers Lucio Tan III, president and COO, and Kyle Tan, executive vice president, who are now at the helm of Tanduay’s new leadership, are eyeing a share in the country’s lucrative gin market through Ginto. Gin aged in oak barrels, this new product will be the first of its kind in the Philippines. “Gin continues…
Q: I worked in healthcare in Los Angeles. Several months ago, I was pregnant. My doctor ordered me to take leave from work because my pregnancy was high-risk. My employer granted me leave. However, two weeks into my leave, I miscarried, and due to complications, I had to have surgery. My doctor advised me to…
SCAMMERS become more active during tax filing season — their hunting season. The prey: your own tax preparer who has troves of social security numbers, birthdays and bank account numbers. Thieves from the dark web have become more active again this 2021 tax filing season. The IRS warns tax pros not to respond to the…
THE client is 50. He bought a restaurant in November of 2019. What’s the worst time to buy a restaurant in the history of the human race? November of 2019 sounds about right. He signed a five-year lease for the restaurant for $6,000 a month. That’s $72,000 a year. For five years, he’s on the…
THE Illegal Immigration Reform and Immigrant Responsibility Act of 1996 requires that US Citizens sponsoring an alien for legal permanent residency execute an immigration form I-864 Affidavit of Support. This is an agreement between the US Government and the Sponsor to promise to support the immigrant beneficiary seeking admission to the US at a level…
Panda Express®, the largest family-owned and operated Asian dining concept in the U.S., was built on a foundation of bridging cultures—and flavors— to bring people together. Having always had deep relationships in the diverse communities it serves, Panda is proud to launch the Panda CommUnity Fund — a $10 million community investment and response program…
Rent relief is now available for California landlords and their renters who are struggling to pay rent or utilities due to COVID-19. Income eligible renters can apply for help to pay rent and utilities, both for past due and future payments, provided they meet certain eligibility requirements. Renters and landlords can verify eligibility immediately by…
