Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
Scoring system: The IRS uses a Discriminant Function System (DIF) to determine returns that are most likely to generate additional revenue for the government. Although the scoring is secret, it’s based on two factors: Total Positive Income and Total Gross Receipts. A return with a high DIF score is more likely to be audited, since…
IS the means test in bankruptcy? It’s a method for calculating what your household income is to determine if you qualify for Chapter 7 or Chapter 13 of the bankruptcy code. By household income, we mean the combined income of husband and wife, if the debtor is married, unless they are separated. The means test…
ARE you having problems paying your debts? Are creditors calling you day and night threatening you with a wage garnishment, repossession or foreclosure? Are you starting to feel hopeless and depressed about your situation and don’t know where to turn for help? The last few years have been tough for a lot of people. You…
President Rodrigo Duterte on Thursday, February 6, asked Manila Water Co. and Maynilad Water Services where the money they allegedly stole from their consumers went, adding that he would entertain talks with them if they return the money. “So where is the money? Where is the money of the Filipino people? Where is the money…
by: Martin Santiago UNPERMITTED work is a blanket term that applies to any modifications made to the home that should have been permitted but were not. The permitting laws are different depending on the area, so what might require a permit in one place may not in another. Work done without obtaining permits and inspections…
Pechanga tribe announces $100,000 in grands for Inglewood educational and non-profit orgs SoFi Stadium and Hollywood Park officially announced Pechanga Resort Casino as its newest Founding Partner of the new 70,000-seat stadium and 298-acre development being built by Rams Owner/Chairman E. Stanley Kroenke. As a part of this expansive agreement, Pechanga Resort Casino, owned and…
THE YOUNG: The first set of clients are in their late twenties, the epitome of youth. They have their whole life ahead of time. They married three years ago. Right after they got married, they spent all of their money to buy a retail business thinking that the business would flourish and provide their new…
(Rancho Cucamonga, CA) – Get ready to celebrate! Saturday, February 8 from 11:00 am to 3:00 pm, you’re invited to the Grand Opening Event at The Resort in Rancho Cucamonga! This is your chance to enjoy model tours, delicious refreshments, fun activities and music—plus discover Nova by The New Home Company, the newest collection of…
The Filipino American Chamber of Commerce Foundation Inc (FACC Foundation) presented its kickoff orientation event for the Filipino American Franchising Trade Mission (FAFTM) at the Philippine Consulate on Wilshire Blvd on Wednesday, January 29. Partner organization the Coalition of Filipino American Chambers of Commerce (COFACC) represented by Chamber Presidents attended in full force. Consul General…
ASIAN Americans Advancing Justice – Los Angeles (Advancing Justice-LA) has launched a nationwide search for a new Chief Executive Officer. The search is a first for the organization, which was previously led by civil rights leader and attorney Stewart Kwoh. Kwoh founded the organization in 1983 and built it into a leading voice for Asian…
ON January 29, 2020, the FBI conducted a raid of the Kingdom of Jesus Christ, the Name Above Every Name church in Van Nuys, California. During the raid, the federal authorities arrested three top administrators for the church. The FBI alleged that the church was engaging in immigration fraud and human trafficking. The raid and…
ACCORDING to a new report, the number of seniors filing bankruptcy is increasing rapidly. The average senior who files bankruptcy these days owes approximately $17,390 according to the report (Although I have to say that most seniors who come to me for debt help actually owe a lot more!). Some of the reasons mentioned are…
THE YOUNG: The first set of clients are in their late twenties, the epitome of youth. They have their whole life ahead of time. They married three years ago. Right after they got married, they spent all of their money to buy a retail business thinking that the business would flourish and provide their new…
YOUR chances of being chosen for audit has been miniscule for more than 10 years. IRS was underfunded and understaffed. They didn’t have financial resources to hire and train auditors. That’s about to change. Recent budget has allowed them to hire and train auditors for the coming years. Bad news. For now, let’s talk about…
MORE Filipinos expect their lives and the country’s economy to improve in the next 12 months, according to the latest Social Weather Stations (SWS) survey. The poll, conducted from December 13 to 16 last year among 1,200 respondents nationwide, found that 48 percent of Filipinos were optimistic that the quality of life would improve this…
Here are Some Smart, Simple Steps to Help Save Energy and Stay Safe SAN FRANCISCO — Winter in California means heading to the Sierra to enjoy the snow or curling up on the couch binge-watching your favorite shows. It also means that longer nights and colder days likely leads to using more natural gas to heat…
THERE’S been a buzzword in cell phone speeds: 5G. Just what is meant by 5G? Our Asian Journal crew of Roger Oriel, Victor Sy, and Byron Sy found out some valuable data at the latest Consumer Electronics Show in Las Vegas early this month. There are Three Different Versions of 5G with Varying Degrees of…
VIRGINIA Hoover worked as a radiology technologist for a Dignity Health hospital for 24 years. In December 2012, her arm was injured while she was preparing for a CT scan. The injury resulted in medical restrictions, including the prohibition of lifting more than 15 pounds. She also had to go on a lengthy leave of…
THE first senior is 73. He has been separated from his wife for 30 years but not divorced. So, for all intents and purposes, he is single because even if his wife makes a ton of money, her income is irrelevant under the means test since the client does not benefit from that income. Even…
Business as usual after Taal Volcano eruption It is business as usual for most companies operating in the Calabarzon Region (Region IV-A) following the eruption of the Taal Volcano last Sunday, January 12. “After a temporary disruption of one to two days, our factories in the Calabarzon Region have resumed operations,” Trade Secretary and Board…
SURE there are alternatives to bankruptcy. But bankruptcy is the only solution that provides viable debt relief for those who are unable to repay their debts. Some people sign up for debt settlement and find out after having paid into the pot that they have been sued by several creditors despite attempts by the debt…
“How can I pay my creditors when my income is not even enough to cover my basic living expenses?” This is a question that I hear everyday from people in my bankruptcy practice. In spite of what the “experts” say about the current economy, I still see a lot of families who don’t even make…
Attendees enjoyed impressive performances, inspiring awardees, and valuable prizes THE ballroom sparkled with enthusiastic members, VIP guests, friends and family of the Filipino American Chamber of Commerce of Greater Los Angeles (FACCGLA). The Chamber’s “Shining Shimmering Splendid Gala” served as the annual fundraiser of FACCGLA, held last January 12, 2020 at the Hilton Woodland Hills….
2020 officers and board of directors to be installed Filipino American Chamber of Commerce of Hollywood (FACCHO) presents its Laurel Night 2020 on Thursday, January 23 from 6 p.m. to 8:30 p.m. (with networking to follow) at the Studio Movie Grill in Glendale, California with esteemed guests. Esteemed guests include Apl.de.Ap (Black Eyed Peas), Keynote…
SOME of us feel anxiety over robots taking over our jobs. Yes, they can take over repetitive chores, but let’s view them as helpers to release us from boring repetitive tasks so we can devote more time to creative, administrative, and managerial tasks. Robots don’t do well in an unruly environment (like yours, so you…
Q: I was diagnosed with a spine compression fracture and severe depression. I want to request leave but want to keep my privacy at work. Do I need to tell my employer about my medical or psychological condition? A: No. The employee is not required to disclose the nature of the employee’s medical condition or…
Fremont campus graduate shares his experience Finding the right aviation school is not easy, as they come in all shapes and sizes. However, the perfect school should inspire confidence that your success is their highest priority. Aviation Institute of Maintenance (AIM) is ready to help aspiring students to reach their goals of having an exciting…
SLEEPLESS nights… Stressed out… Worried about the future… Always broke no matter how hard they work…Feeling hopeless about their situation. This is what most people are going through when they are considering bankruptcy in order to get out of debt. The word “bankruptcy” often produces negative feelings because some people equate it with failure. They…
WHAT is the new minimum wage? Effective January 1, 2020, the minimum wage in California will be $12.00 per hour for employers with 25 employees or less. For employers with 26 employees or more, the minimum wage is now $13.00 per hour. Most employees in California are entitled to be paid at least the minimum…
• YES, taxpayers whose Individual Tax Identification Numbers (ITIN) expired and who expect to file a tax return in 2020 must submit a renewal application. • ITINs with the middle digits 83, 84, 85 or 86, 87 (For example: 9XX-83-XXXX) must be renewed even if the taxpayer used it in the last three years. •…
