Disadvantages of tax-driven (fake) divorce
WE discussed the benefits of divorce last week. Let’s discuss drawbacks this week. Medical insurance: It’s typical for one working spouse to carry medical insurance for the whole household. One…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
Read More
Sole proprietors need Chapter 7 relief for $280K credit cards and $80K commercial lease
THE clients are a husband and wife in their mid-60s. I asked them if they have started receiving social security benefits, and sadly they told me that they migrated less…
New York, New Jersey postpone indoor dining as COVID cases surge across the US
GOV. Phil Murphy stopped the supposed reopening of restaurants in the state this week for a few reasons, among them the violations in some restaurants that have opened for Phase…
Island Pacific now offering contactless payment technology for the community’s safety
Island Pacific Supermarket, with locations in California and Nevada, is the first Filipino supermarket chain to offer online shopping with same-day grocery delivery in the United States. As phases continue…
Housing market vs COVID-19
By Martin Santiago, Broker-Associate PRICES for existing homes rose 4.7% compared with April 2019, up from 4.6% in the previous month, according to the S&P CoreLogic Case-Shiller National Home Price…
Why most people are scared of bankruptcy
THE word “bankruptcy” is packed with all sorts of negative emotional triggers. It sounds bad — even dirty. It’s embarrassing. (What if people find out?!) People paint ugly pictures of…
Johnson & Johnson removes skin whitening products from retail
Recent discussions over colorism and racism force companies to rethink skincare among communities of color THE global skincare conglomerate Johnson & Johnson has decided to discontinue two popular lines of…
Advantages of tax-driven (fake) divorce
WOULD you fake a divorce to save income taxes? I don’t advise it but let’s discuss it anyway – benefits this week and drawbacks next week. Medicaid for nursing home:…
When employees refuse employer’s illegal instructions
Protecting employees from retaliation for whistleblowing SHUJUN Qiu was hired by Three Rivers Provider Network Inc. as its controller. Throughout her employment, Qui excelled at her job and her employer…
How to download videos from any videos site onine?
Downloading videos is easy when you see a download button. Unfortunately, most video sharing sites obviously don’t allow downloads, usually to protect copyrights or because there’s not a large demand…
Business owner needs Chapter 7 relief for $100K credit cards
THE first client is in his 40s, married with two children, ages 8 and 9. He doesn’t own a house. The absence of a house makes eligibility analysis easier. If…
Filing bankruptcy: Is it good or bad for you?
People with overwhelming debt problems during this difficult time are asking a lot of questions. Are you scared of being sued and having creditors getting judgments against you and garnishing…
10 tips to amend your personal federal income tax return
1. You can amend to correct a previously filed tax return Form 1040, 1040A or 1040EZ. 2. Amend your return if you discover errors such as filing status, dependents, total…
Gyms, hotels, museums, campgrounds now allowed to reopen in LA County
NEARLY three months since the coronavirus upended daily life and forced strict measures to be enacted, Los Angeles County moved forward with the third phase of easing restrictions on Friday,…
How to avoid residency audits when you move to a tax-free state
HERE are 10 tips to avoid residency audits when you move to a tax-free state: • Get a driver’s license in your new state. • Register to vote in your…
Client still liable for retail lease of $2M despite selling business 3 years ago
THE middle-aged client owned a retail business for some time. The business was located in a good location so the lease was for $10,000 a month. The company that he…
How long should employers provide reasonable accommodation to disabled employees?
ELIZABETH Carter worked at Dunn-Edwards, the paint store, when her medical condition prevented her from lifting more than 20 pounds. She could, however, still continue to perform most of her…
COVID-19 spike from the protests and your investments
By Martin Santiago, Broker-Associate While most Americans agree with the protesters’ cause, some detractors worry about the cities with the largest marches, where people are gathering in the thousands in the…
Fashion retailer Revolve apologizes for lack of diversity, donates $1 million to social justice causes
Among the many brands who showed up for the #BlackOutTuesday trend meant to highlight the gravity of police brutality and anti-blackness in the United States, the popular fashion brand Revolve…
Pechanga Resort Casino opens with limited operations
ON Monday, June 1 at 12 p.m., Pechanga Resort Casino, located just outside of Temecula, CA, reopened to the public. The West Coast’s largest casino/resort closed March 16 after a…
Would you move to a tax-free state to save taxes?
I would, especially if I’m retired. Would you consider moving from high-tax California or New York to tax-free Nevada or Florida? You could. But then, there are other considerations; but…
Returning to work after the employee’s or family member’s COVID-19 illness
Interactive process in the COVID-19 era Q: MY work required me to interact with a lot of people. I became infected with COVID-19. I was hospitalized and went on disability…
Trustee, debtor mutually dismiss adversary claims for $1-M
THE client’s company filed for Chapter 7 relief as it was bankrupt. It had two warehouses and rent for one was $15,000 a month, while the other was $20,000 a…
Filipino-owned bakery and restaurant Goldilocks now open at SFO’s Harvey Milk Terminal 1
SAN FRANCISCO – As businesses across America are forced to shut down due to the economic impact of the COVID-19 pandemic, Goldilocks Filipino Bakeshop and Restaurant opens its newest North…
Despite minor damages, Fil-Am restaurants stand in solidarity with protesters in LA County
EARLY morning on Tuesday, June 2, Mary Jane Rempola received a call from an employee that the front glass door of Bagnet in Panorama City had been shattered amidst the…
LA County prepares to reopen salons, restaurants as case numbers continue to rise
CALIFORNIA Governor Gavin Newsom on Friday, May 29 announced that Los Angeles County — one of the most concentrated hubs for COVID-19 in the country — can now reopen restaurants,…
LA City Council proposes $100 million in rent relief for residents
A NEW Los Angeles City Council motion is seeking to use $100 million in federal funding for the city’s Emergency Renters Assistance Program. The proposal, filed by Los Angeles City…
Returning to work in this pandemic: Do you need reasonable accommodation?
“However, the Order goes on to say that all persons living within the County of Los Angeles should remain in their residences whenever practicable.” Q: SINCE the shelter-in-place order, I…
12 states that don’t tax retirement income (Part 2 of 2)
PENNSYLVANIA • Retirement income: No state tax on your 401(k), IRA or pension income except if you retire early. • Social security benefits: No state income tax on your Social…
Uber driver needs Chapter 7 relief for $50K credit cards
THE client is in his 50s. Believe me, 50s is still young. He has been divorced more than 10 years ago and now lives by himself. He used to own…