IRS simplifies form 1040 for individuals
1. One big change this year is a reduction of Form1040 schedules from six in 2018 down to three in 2019. Some schedules will be merged while some will revert…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
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Rice Tariffication Law led to record-low rice prices in seven years — DTI Chief
RCEF to provide more funds to support farmers’ productivity and income Manila – During the press conference updating the public on the Rice Tariffication Law (RTL), Trade Secretary Ramon Lopez…
Sustainable, ethical wear: How Pinay designer Claire Powers built her KINdom
The words “fashion” and “sustainability” were rarely ever used in the same sentence before. However, things began to change when people began talking about climate change and its chilling effects…
Panorama Tower reopens 26 years after Northridge earthquake
AFTER nearly three decades vacant, Panorama Tower reopened on Thursday, February 24 in Panorama City, California at the corner of Van Nuys Boulevard and Titus Street. Originally designed by Welton Becket as a…
Why filing bankruptcy is not as bad as most people think
FILING Bankruptcy is a serious decision for most people. Although almost a million people file Bankruptcy in every year, most don’t have a clue about how the process works until…
Retiring senior needs bankruptcy relief for $45K credit cards
A 65-year-old husband has just handed in his application for retirement from his job. He makes a gross of $5,000 a month with overtime. Upon retirement, he will net about…
Top tax audit triggers (Part 4 of 4)
You fail to report investment income from interest and dividends: You must report interest and dividends from banks and brokers. If you fail to disclose such accounts to your spouse……
Last call for applications for AAPA Mentorship Program
THE Asian American Professional Association’s (AAPA) Mentorship Program is approaching— don’t forget to apply this week! The APA entorship Program provides professionals with a one-year mentorship and leadership training program. Participants attend…
Unequal pay + sexually-hostile workplace = sex discrimination
RIOT Games, Inc. is a multi-billion dollar video game developer, with headquarters in Los Angeles, operating in 24 offices around the world and employing about 2,500 workers, 80% of them…
Poe: ABS-CBN hearing fair and objective
Despite her family connections to ABS-CBN, Philippine Senator Grace Poe on Wednesday, February 26, said the network giant’s franchise hearing is fair and objective. Poe, who chairs the Senate Committee…
Starting a new life after bankruptcy
IF you are in debt and are seriously considering bankruptcy as an option, I am sure a lot of thoughts are going through your mind. I just want to get…
Owner of several businesses needs bankruptcy relief
EVEN though the economy and stock markets are positive, the coronavirus problem has dampened business outlook worldwide. Given this environment, not all businesses here are able to survive. For instance,…
Bag checks at work should be paid as hours worked, says CA Supreme Court
AMANDA Frlekin and others worked for Apple Inc. as retail store employees in its retail stores in California. Apple requires them to undergo exit searches pursuant to its “Employee Package…
Top tax audit triggers (Part 3 of 4)
You deposited or withdrew over $10,000 in cash: Depositing or withdrawing over $10,000 in cash attracts attention. Banks are required to notify the IRS. Depositing or withdrawing $9,950 or $5,000…
Philippine Senate hearing on ABS-CBN franchise to proceed on February 27
The Philippine Senate will proceed with its first hearing on the franchise renewal of broadcasting network ABS-CBN this month, ahead of the House of Representatives, which has yet to discuss…
What bankruptcy can and cannot do for you
IF financial start. Bankruptcy is a powerful remedy because it stops most collection actions, including lawsuits, wage garnishments, bank levies and foreclosure. It also wipes out many types of debts….
ABS-CBN can apply for new franchise – Palace
As protests continue against the Duterte administration’s move to revoke ABS-CBN’s franchise, Malacañang on Thursday, February 13 brushed it off as “much ado about nothing” since the media giant can…
Top tax audit triggers (Part 2 of 4)
You missed to report all W-2s, 1099-MISC, 1099-INT or 1099-INT: If you missed to report income from employment (W-2 with withholding) or independent contracting (Form 1099 without withholding), tough luck….
What are the pros and cons of filing for bankruptcy?
LET’S assume that you have incurred too much debt. What do I mean by too much debt? By this, I mean that you are now a slave to creditors because…
Can you have two employers for the same job?
And which of them should pay back wages? ELVIA Jimenez worked as a direct employee for Ameritemps, a temporary employee staffing service. Ameritemps placed Jimenez with U.S. Continental Marketing, Inc….
House Speaker vows impartial hearing on ABS-CBN franchise renewal bills
Philippine House Speaker Alan Peter Cayetano vowed that there will be fair hearings into the bills seeking to renew the franchise of media giant ABS-CBN. According to him, the franchise…
Palace: ABS-CBN’s fate up to Congress, Supreme Court
THE fate of ABS-CBN’s franchise renewal lies upon Congress and the Supreme Court, Malacañang said on Tuesday, February 11. This comes a day after Solicitor General Jose Calida on Monday,…
Health agencies, Big Tech seek to dispel mass misinformation on coronavirus
Groups condemn anti-API ‘racism and hate’ AS the global medical community continues to try to mitigate the threat of the severe coronavirus, the World Health Organization (WHO) and leading social…
Protecting employees who uphold the rights of their co-workers
JEREMIAH Matthews worked as a cook and a maintenance supervisor for Happy Valley Conference Center. Happy Valley is an affiliate of the Community of Christ Church and hosts seminars, retreats,…
Top tax audit triggers (Part 1 of 4)
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…
How does the bankruptcy means test work?
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…
Can’t have peace of mind due to debt problems?
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…
Duterte open to talk to water firms as long as they return money to citizens
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…
Legalizing unpermitted work
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…
Pechanga Resort Casino named founding partner of SoFi Stadium and Hollywood Park
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…