Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
THE following groups won’t get stimulus payments: • Children who are 17 or 18 years old (those claimed as dependents by another). • Many college students between the ages of 19 to 23. • Adults who can be claimed as dependents (example: your parents). • Nonresident aliens (example: those without green cards). • Individuals who…
THE clients are a husband and wife in their sixties. They operate a retail business that provides a service. There is no corporation or LLC. In other words, clients are sole proprietors of the business. The commercial lease for the premises is $5,000/month with three more years to go. Before the coronavirus arrived in Los…
STANLEY Vincent worked as a Patrol Officer for the California Highway Patrol for seven years. The Daily Journal reports that Vincent was fired from his job when he took three weeks of leave so he could look for his missing mentally disabled sister. Vincent sued, alleging that the employer’s failure to grant his requested leave,…
AS the world economy grounds to a complete halt, a looming recession is at our doorstep and deaths and infections continue to surge everywhere, it is time for business owners to assess the impact of an agonizingly painful journey towards normalcy both on the family and the business aspect. Looking beyond this lockdown, we can…
by: Martin Santiago A BUYER’S market refers to a situation in which supply exceeds demand. Driven by pandemic fears, shutdowns and job losses, U.S. home prices are expected to dip between 2 and 3 percent this year, with sales falling by as much as 60 percent, according to a new forecast by Zillow. Historically low inventory and…
In its yearly roundup of the 100 most impactful Asian and Pacific Islanders (APIs), the nonprofit organization Gold House named eight Filipinos and Filipino Americans who have made significant contributions to American culture. Released every May in time for Asian Pacific American Heritage Month, the A100 list includes thought leaders, activists, politicians, entertainers, athletes and…
THE Philippines’ largest broadcast network stopped its operations on Tuesday, May 5 to comply with the National Telecommunications Commission (NTC)’s cease and desist order due to the expiration of its congressional franchise. ABS-CBN went off air after the broadcast of its primetime news program “TV Patrol” on Tuesday night around 8 p.m. Manila time. The…
All international flights to and from the Philippines will remain suspended until May 8, following the approval of the Inter-Agency Task Force for the Management of Emerging Infectious Diseases. However, official flights, emergency flights, cargo ambulance and medical supply flights, weather mitigation flights, maintenance flights, and international flights for stranded foreign nationals are exempted from…
YOU probably wonder if you will receive stimulus checks. Me too. Here’s a simplified piece on the Economic Impact Payments for seniors. Please read Q&A Questions and Answers on prior editions of the Asian Journal. A recent news release from the Internal Revenue Service announced that Social Security beneficiaries who are not typically required to…
Q: Because of the Stay-at-Home order in California, my employer has sent me home on a “work furlough” without pay. It has been more than a month and I still have not been asked to go back to work. Is a work furlough a termination? What are my rights? A: The COVID-19 pandemic threatens, not…
THE client is 50 and has two grandchildren living with her who are teenagers still in high school. She is married but separated. She is not divorced from her husband. They still live in the same house but they no longer treat each other as husband and wife. She takes care of her two grandchildren…
PHILIPPINE Airlines will continue offering flights for Filipinos who need to be repatriated from the United States amid the coronavirus pandemic. The national carrier is scheduled to operate special flights to Manila’s Ninoy Aquino International Airport from both Los Angeles (LAX) and New York (JFK). The LA to Manila flights are scheduled on May 5,…
LOCATED along Bayshore Boulevard in Brisbane, California is a restaurant with a 162-year history that includes surviving the 1906 earthquake, the 1918 Spanish flu outbreak and the Great Depression in the 30s. 7 Mile House has been owned by Filipina American Vanessa Garcia since 2004, becoming a bustling popular dining and entertainment venue known for…
LAST week, CNN reported that 10 nurses from Providence Saint John’s Health Center in Santa Monica, California were placed on administrative leave for demanding N95 masks while treating COVID-19 patients. The nurses were suspended with pay for refusing to enter COVID-19 patient rooms without N95 masks. The hospital told the nurses that there were no…
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 your income did. No one ever wants to file bankruptcy. But if you are one of the millions laid off and don’t even know whether…
FILING a bankruptcy case creates a “bankruptcy estate.” The estate becomes the legal owner of all of the debtor’s property while the bankruptcy is going on. What does the estate consist of? It consists of all legal or equitable interests of the debtor in property as of the commencement of the case. This includes property…
WHAT should I do to receive the stimulus check? None. You don’t need to do anything. The IRS will calculate and automatically send your economic impact payment. How will the IRS know my information? If you have already filed your 2019 tax returns, the IRS will use this information to calculate your payment. If you…
THE Philippines’ fifth largest lender, Philippine National Bank (PSE: PNB), is waiving the remittance fees for various channels through May 8, 2020. The waiver applies to money transfers that will be credited to personal deposit accounts with PNB in the Philippines. PNB President and CEO Wick Veloso said the bank is committed to make remittance…
Frontline heroes can enjoy free meals at participating U.S. McDonald’s restaurants IN appreciation for the healthcare workers, police officers, firefighters and paramedics who are committed to our health and safety, McDonald’s will offer free Thank You Meals*, between Wednesday, April 22 and Tuesday, May 5, as a token of appreciation for their selfless service. While…
THE federal CARES Act provides two benefits if you have a financial hardship caused directly or indirectly by the coronavirus and your loan is owned or guaranteed by a federal agency including Fannie Mae, Freddie Mac, the Federal Housing Administration, U.S. Department of Veterans Affairs and U.S. Department of Agriculture. Both the state and federal…
THIS article is lovingly dedicated to our fellow taxpayers who like to wait and wait and wait until the very last minute, then get excited on the very last day to file an extension. If you just happen to be one, save this article for future reference. Remember that extensions are for time to file,…
FIVE of the country’s largest banks announced recently that they have agreed to temporarily suspend mortgage payments for homeowners affected by the virus. California has indeed suffered an unexpected economic devastation from the virus with more than 1 million Californians applying for unemployment benefits since March 13. So far, Wells Fargo, U.S. Bank, Citi, JP…
AS of this writing, the new coronavirus (COVID-19) has infected over two million people globally, and more than 145,000 have died. The outbreak has understandably created worldwide anxiety since the first cases were reported in Wuhan, China in late 2019. But aside from the panic created, the pandemic has also exposed a deep-seated xenophobia, the symptom…
UNEMPLOYMENT claims nationwide have significantly spiked due to the lockdown which has resulted in the shutdown of the U.S. economy. Millions of people have lost their jobs because small businesses are not operating. The restaurant and travel industries, which are the two major employers provided by small business, have been knocked down by the virus….
California to work in conjunction with other states to reopen the West Coast CALIFORNIA Gov. Gavin Newsom this week unveiled a framework for reopening the state’s economy and society. Though he provided no exact timeline (the statewide stay at home extends through May 3), Newsom said that he would base his decision to reopen on…
As the world navigates through a turbulent time, popular fast-food chain Jollibee wants to bring some joy to customers who are staying safe at home. With the brand’s dining rooms temporarily closed, Jollibee has invited customers to enjoy their Jollibee favorites via drive-through across select locations, call and pick-up, and take-out. Now, the public can…
Amid the coronavirus pandemic, Island Pacific has made the health and safety of its customers, employees, and community its top priority. Island Pacific Supermarket has launched its “Stay Home, Stay Safe” campaign by becoming the first Filipino supermarket chain to provide online shopping with same-day grocery delivery in the United States. By shopping at Island…
In response to small businesses affected by COVID-19, the Los Angeles County Board of Supervisors has created the Small Business Recovery Loan Program, administered by the Los Angeles County Development Authority (LACDA). The Small Business Recovery Loan Program provides easy to access, timely, and sufficient financial relief to small businesses that are most impacted by…
This current moment has been described as many things: a chance for self-reflection, a practice of selflessness, a collective meditative mental health reset. And, it is most certainly all those things. But it is also a case study in entrepreneurial spirit and how maintaining a sense of community — even during a period of physical…
PRESIDENT Trump signed the Families First Coronavirus Response Act on March 18 to provide paid leave for workers and tax credits for small and midsize businesses to recover the cost of providing Coronavirus-related leaves. A recent IRS new release identified new credits for paid sick leave and child care. Paid sick leave credit For an…
