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…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
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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…
Philippines to become upper middle income country this 2019
Finance Secretary Carlos Dominguez III on Thursday, April 11, said the Philippines is set to become an ‘upper-middle-income’ economy this year with the assistance of the World Bank (WB). According…
Duterte’s China trip to yield $10 billion in business deals
The Department of Trade and Industry (DTI) on Tuesday, April 23, said the Philippines is expecting to seal at least $10 billion worth of investment and trade deals when President…
Does your employer need to know your medical condition to accommodate you?
Q: I was diagnosed with herniated disc and severe anxiety. I want to request leave but want to keep my privacy at work. Do I need to tell my employer…
Young client with $700K debt needs Chapter 7 relief
THIS week is Holy Week again. The whole Christian world observes the passion of Jesus Christ. In many countries, the faithful reenact the passion and suffering of Jesus. They wear…
Alternative minimum tax changes (AMT)
THERE are two types of income tax – regular tax that you are familiar with, and an Alternative Minimum Tax (AMT) that you may not have encountered. If you had…
Store manager needs bankruptcy relief
CLIENT no. 1 is 50 years old and is the manager of a big retail store. He’s been working there for 30 years. His spouse got into an accident and…
2019 tax filing due dates for 2018 tax returns
* * * Victor Santos Sy graduated Cum Laude from UE with a BBA and from Indiana State University with an MBA. Vic worked with SyCip, Gorres, Velayo (SGV –…
Store manager needs bankruptcy relief
CLIENT no. 1 is 50 years old and is the manager of a big retail store. He’s been working there for 30 years. His spouse got into an accident and…
Firing employee after 12-week medical leave may be disability discrimination
OUR client, Teresa,* has always lived with a serious lung condition since childhood. Although Teresa knew that her condition limited her activities, she did her best to live a productive…
Bankruptcy: Are you living without a financial plan?
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…
Should you file an extension to file your tax returns?
APRIL 15 is an annual anniversary of sort – tax deadline for some, a date to file extensions for most. It has become a habit for those who procrastinate like…
Clients with wage garnishment, huge sales tax, freak accident seek bankruptcy relief
Freak accident liability I want to discuss the client with the freak accident first. The first client is 45. This is really a very unusual case. In fact, I have…
Unwanted robocalls and text messages: Have you had enough?
AS a cellphone owner, you have most likely experienced unwanted calls from telemarketers, robocallers, and spammy text messages. There are common measures you can take to minimize unwanted calls. CNN…
Mitsukoshi Mall promises to be an “All-time Favorite Store” for Filipinos who love everything Japanese
No shopping experience in Japan is complete without going to Mitsukoshi, the oldest surviving department store chain in Japan. The long-standing retail institution is known to discerning shoppers and travelers all…
Four Filipinos on 2019 Forbes ‘30 Under 30’ Asia list
Forbes magazine on Tuesday, April 2, named four Filipinos belonging to the “30 Under 30 Asia” list, featuring 300 young people who excel in 10 categories hailing from 23 countries…
LG Makes its Mark in Mindanao
LG Electronics, in keeping with its tradition of giving back to the community, recently paid a visit to The House of Hope in Davao. The House of Hope Foundation, located…
Failure to accommodate an injury is disability discrimination
ANAHIT Shirvanyan, 63 years old, worked as a kitchen staff at Los Angeles Valley College (LAVC), a licensed childcare facility in Van Nuys, CA, which is part of the Los…
Young client seeks Chapter 7 discharge of $300K credit cards for a fresh start
WHEN I say the client is young, I mean she’s in her 20s. She is married and has a toddler son. Before becoming a mother, she was working full-time and…
New law allows section 529 plans for elementary and high school
QUALIFIED tuition plans (referred to as Section 529 plans) are established to help families save for college education in a tax-advantage way. These plans are sponsored by states, state agencies, and…