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…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
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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…
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. …