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…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
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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…
In the gig economy, being classified an employee is still more advantageous
THE creation of technology-driven industries has given rise to new business models that may not follow the traditional employer-employee relationship. Companies, for example, may practice “outsourcing” or “crowdsourcing” where they…
Clients with failed businesses need relief from credit card debt and loans
THE first client is 34. She is recently married and now has a one-year-old son. She used to be employed making a gross of $50,000 yearly. At the same time,…
President Duterte asks Japan businessmen to invest in tourism
TOKYO, JAPAN – In a parallel event to the 14th Philippine Business Mission (PBM) for tourism held in Japan, President Rodrigo Duterte met with leaders of the Japanese travel industry…
Filing Bankruptcy: Sooner or Later?
I WAS in line at the grocery store the other day and noticed the man in front of me smiling and looking at me as if he wanted to say…
Client seeks Chapter 13 relief for mortgage default and credit cards
THE client is 48, married and has a good job paying him $100,000 gross a year. A family emergency has caused him some financial hardship because money meant to pay…
Employees must be paid for all hours worked
Off-the-clock and “Unapproved” Work Hours are Still Compensable Q: I work as a nurse at a hospital that has a strict policy of no unapproved overtime. We don’t ask for…
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…
PH Navy’s first missile warship launched in Sokor
The Philippine Navy’s first missile warship BRP Jose Rizal on Thursday, May 23 was launched in South Korea at a ceremony spearheaded by the top defense and military officials from…
8th Philippine SME Business Expo and Conference successfully held last May 02-03, 2019
MANILA – Thousands of small and medium enterprise business owners and aspiring entrepreneurs gathered at the country’s largest business-2-business expo, conference, and networking event dedicated to empower the Small and…
Six PH companies among Forbes Global 2000
SIX Philippine companies are included on the 2019 Forbes Global 2000 list, comprising of the world’s biggest, most powerful and most valuable companies. The Filipino companies considered among the largest…
Young clients seek Chapter 13 relief for different reasons
THE first client is 48, married, and has a good job that pays $80,000 a year. His wife makes another $40,000 a year. Together, they make $120,000 gross a year. …
Firing an employee for using their family leave rights may be retaliation
ERIC Hazard worked for 17 years for Raley’s as a pharmacy manager. Eric’s son, Andrew, is 32 years old and disabled with hydrocephalus, a buildup of water on the brain,…
Three tax changes to estate, gift, AMT, and pass-through income
Estate and gift tax exemption: The Tax Cuts and Jobs Act (the “Act”) increased exemptions (nice) for estates and gifts to $11.2 million ($22.4 million for married couples). Before tax…
Philippine National Bank opens its new Los Angeles office
THE right place at the right time bodes good things for the right endeavor. PNB puts itself right smack dab in the heart of the Filipino American community. This is…
A disparity in monthly payments to discharge credit cards
“So now I say to you, if you have accumulated debt, take it easy, we can get rid of those burdensome debts that weigh you down every day of your…
Best of both worlds: Single Fil-Am moms on managing family and business
IT is often said that running your own business is like raising another child. Entrepreneurship is already a massive undertaking, and for some mothers, there’s an extra layer of being…
Amway Announces Launch Of Nutrilite™ B Vitamin For Busy Adults
Not getting enough B vitamins in your diet can cause fatigue; the last thing someone with a busy lifestyle wants. Fatigue may be caused by so many factors out of…
Sustained economic growth, financial reforms cited for PH’s credit upgrade
The Philippines’ recent credit rating upgrade from Standard and Poor’s (S&P) is due to the economic reforms under the Duterte administration, Malacañang asserted on Thursday, May 2. S&P upgraded the…
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…
What is reasonable accommodation of a disability at work?
ROSARIO Contreras-Velazquez worked for Family Health in its medical records department when she suffered a work-related repetitive strain injury to her right upper extremity. After surgery, she developed complex regional…
Seniors need Chapter 7 relief for $50K various unsecured debt
CLIENT is 72. He still works his normal job and makes about $3K a month. He also receives social security of $1K. So, his total income right now is $4K….
Can employers withhold wages of employees?
DONOVAN Sebastian worked in sales for Sprint/United Management Co. Sprint provided him and other employees with vehicles for them to travel between stores. Sebastian, on behalf of himself and other…
Abandoned wife needs Chapter 7 for $50K credit cards
THE first client is 48 and got married in the last four years. Her husband was a foreigner who professed his love for her in so many ways. Unfortunately, his…
New limits to casualty and theft losses
GENE3RALLY, you may deduct casualty and theft losses relating to your home, household items, and vehicles on your federal income tax return. What used to be deductible under old law…
Too much debt, not enough income?
ARE you debts growing faster than your income every month? Trying to pay what you can but feel like you’re running on a treadmill and not getting anywhere? Do you…