Client with bank account levy seeks Chapter 7 relief
THE client is 60, while his wife is 58. He issued his check to pay rent of $1,200 but the check was dishonored for insufficient funds. The landlord called him…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
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From skin-colored ternos to Philippine-inspired scents: Pulo Project rolls out second wave of art and design installations in LA
FILIPINO exhibition series Pulo Project is back until August with a new set of art, design and fashion from Filipino and Filipino American creatives. Born as a “passion project” by…
Q&A for beginners in the stock market
MORE than half of Americans have stocks in their portfolio. If you don’t, you are missing out. Actually, you have been missing out big time. Conservative people keep their money…
Why you should look at your paystubs Incorrect ones entitle you to additional payments
RODERICK Magadia worked as an hourly associate at a Wal-Mart retail store in San Jose, California as a stock associate. After 8 years of employment, Magadia was terminated. During Magadia’s…
Chapter 7 or 13: Which is better?
“The effect of the lowerinterest is to shorten the amount of time it takes to pay off the principal because more principal gets paid with every payment. ” I’VE recently…
Four tax deductions that will not be changing
WHILE nearly all articles relate to change, let’s depart from that norm and discuss a few deductions that won’t change. 1. Student loan interest deduction: The Tax Cuts and Jobs…
Paid per piece? Make sure you’re paid for all hours worked!
YADIR Ontiveros worked as a technician for Safelite, a company which repairs and replaces vehicle glass for automobiles at various locations in California. Safelight’s technicians are classified as non-exempt employees….
Think tank: Philippines to lose the most in possible US outsourcing ban
The Philippines would be the ‘biggest loser’ in Asia if United States President Donald Trump follows through with his threat to punish American firms that outsource jobs, an independent economic…
Three changes to the general business credit
THE Tax Cuts and Jobs Act (“Act”) makes changes to the general business credit by adding a new Paid Family And Medical Leave Credit and changing the Rehabilitation Credit and…
What causes people to file bankruptcy?
NO matter how the economy does, there are always reasons for people to file bankruptcy. During the period of 2008-2012, more than 1.5 million people filed bankruptcy year after year….
How much debt is too much?
HOW do you answer this question? Let’s check what the Bible has to say about debt. The Bible says that one should neither be a lender or borrower. It does…
What to do if you’re fired and asked to sign a release
AN employee may be asked to sign some documents at the time of termination. One of these documents may be a severance or separation agreement. This is a contract between…
How do you know when it’s time to file for bankruptcy?
THERE are times in life when we’re sometimes caught unprepared for what we have to do in order to deal with an ongoing problem that simply will not go away….
Ex-businessman with commercial lease judgment of $100K seeks Chapter 7 relief
THE client is 50, divorced, and used to own a business that had a commercial lease for retail space. He operated the business for 10 years. On the 11th year,…
Are arbitrations unfair to employees and consumers?
Q: I recently applied for a job and I was asked to sign an arbitration agreement as a requirement to being hired. I heard arbitration agreements are not fair to…
Rules eased for bonus depreciation, code sec. 179 expensing and regular depreciation (Part 2 of 2)
OTHER rules for real property depreciation: If placed in service after 2017, qualified improvement property, in addition to no longer qualifying for bonus depreciation and being newly eligible as section…
Remedies for when doing the right thing gets you in trouble at work
For about 12 years, Blanca Ramirez worked at the Jack in the Box in San Fernando, CA as a team leader. She reported to the employer’s anonymous hotline that another…
Senior with bank account levy seeks Chp 7 relief for $60K credit cards
Businessman considers BK for $400K lawsuit Client is 68 and married. He just received a notice of bank levy on his accounts for a judgment against his wife. He asks…
Rules eased for bonus depreciation, code sec. 179 expensing and regular depreciation
Part 1 of 2 The Tax Cuts and Jobs Act TCJA (“New Law”) effectively lowered the cost of acquiring capital assets by making substantial changes to the income tax rules…
Are your debt problems forcing you into bankruptcy?
ARE you in debt and in a constant state of worrying about your financial situation? Perhaps like most people, you live paycheck to paycheck and are barely surviving but you’ve…
Five changes affecting partnerships, S corporations and pass-through income (Part 2 of 2)
Look-through rule on sale of partnership interest: Under the Act, gain or loss on the sale of a partnership interest is effectively connected with a U.S. business to the extent…
PNB inaugurates new office of PNB Remittance Centers, Inc. in Glendale, CA
PHILIPPINE National Bank (PSE: PNB) formally opened the doors of PNB Remittance Centers, Inc. (PNB RCI) corporate office on May 30 in its new home at 225 West Broadway, Suite 301,…
How to reduce or eliminate massive credit card debt
IF you’ve accumulated more credit card debt than you can handle, you may get this sick feeling in your stomach not knowing what to do about it. As a bankruptcy…
Trade war causes business slowdown & owners need debt relief from $450K
“The FBI investigates the scam and tells the client they can get their money back if the money is still in the account.” THE first clients are business partners who…
Ensuring that truth prevails in an employment retaliation claim
DR. Sheila Hudson worked as a Senior Associate Athletics Director and Title IX Coordinator for California State University, Los Angeles. She filed a lawsuit against her employer, alleging retaliation after…
Why some CEOs figure ‘Medicare for All’ is good for business
by Phil Galewitz EASTON, Pa. — Walk into a big-box retailer such as Walmart or Michaels and you’re likely to see MCS Industries’ picture frames, decorative mirrors or kitschy wall…
26 deals signed during Duterte’s 2019 Japan trip
President Rodrigo Duterte’s trip to Japan is proving to be productive as 26 agreements that could bring in P289-billion worth of investments were signed this week. The deals were read…
Five changes affecting partnerships, S corporations and pass-through income
(Part 1 of 2) THE Tax Cuts and Jobs Act (the “Act”) makes major changes to the taxation of partnerships, S corporations, and pass-through income. Most of these changes are…
Travel, Trade and Consumer Roadshow Expo in Carson on August 3 and 4 features Fil-Am business and talent
THE City of Carson will be a bustling hub of activity when the Travel, Trade and Consumer (TTC) show comes to town on August 3 and 4. This exciting weekend…
Are you in debt but too embarrassed to ask for help?
ARE you seriously in debt and don’t know what to do? Individuals who have accumulated excessive debt are often left to ponder whether bankruptcy is their only realistic way to…