What’s new: Tax cuts and jobs act (Part 4)
• YOU may need to pay quarterly estimated taxes unless tax owed is less than $1,000 upon filing of the tax return or you do not owe any taxes in…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
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What to do when the stock market dives
Last week’s sell off inspired me to write today’s article to caution you when stock markets dive. When stock prices drop, one’s first reaction is to sell. That’s the worst…
Seniors with $40K credit cards seek Chapter 7 relief
THE clients are young seniors at 62. The husband took an early retirement as he has a serious illness. Two years ago, the husband was diagnosed with stage 3 leukemia….
Yes, you’re paid overtime, but is it computed correctly?
(Bonuses and shift differential pay can increase overtime rates) “Under California law, overtime pay is computed on the basis of the employee’s “regular rate” of pay. If the employee receives…
K-1 visa: Fiance visa to marry US citizen
“A K-1 visa allows a foreign national to come to the United States to marry a United States citizen. The K-1 visa is valid for ninety (90) days after entry…
Should you hire a debt settlement company and avoid bankruptcy?
“Remember that a debt settlement company cannot legally represent you if you are sued and thus, they cannot protect your legal rights. Also keep in mind that some creditors will…
PAL wins another 4-Star international award
APEX confers 4-Star honors for PAL’s inflight service, seats & cabin products PHILIPPINE Airlines has won another international award, garnering a FOUR STAR Major Regional Airline 2019 rating certified by…
PH ranks 56th on global competitiveness report
The Philippines placed 56th globally among 140 countries in the latest Global Competitiveness Report 2018-2019 of the World Economic Forum. It also showed the Philippines as the fifth most competitive…
Businesses still ‘confused’ over Boracay re-opening plans
The government’s guidelines for popular tourist spot Boracay Island still have many Boracay businesses confused. Elena Brugger, president of the Philippine Chamber of Commerce and Industry – Boracay, said in…
You have not filed your income tax returns for years?
YOU have not filed your income tax returns for the current year and previous years because: 1) you decided you are not required to file? 2) You are a victim…
PH Participates in Global Trade Conf., Expo in Houston
HOUSTON 16 October 2018 – The Philippines as a premiere investment destination was highlighted at the the 2018 Houston Global Trade Conference & Expo, where Philippine Consul General in Houston…
PH sees decade of 7 percent growth from $180-billion infrastructure drive
SECRETARY of Budget and Management (DBM) Benjamin Diokno on Wednesday, October 10, said the Philippines expects economic growth to recover to 7-8 percent target next year as it pushes ahead…
Bankruptcy can provide hope to the hopeless
WHEN debts spiral out of control, bankruptcy can become an invaluable financial recovery tool in getting you back on the right track. While it’s not for everyone, close to a…
Six special audit triggers
1. DEALING in Cryptocurrencies People are not reporting transactions with Bitcoin, Ethereum, or Litecoin. The general public may not be aware that they are reportable. They may also not know…
Misclassified workers granted more protections against fly-by-night employers
(Holding others liable for payment of wages) CALIFORNIA’S Labor Commissioner’s Office has awarded over $45 million in unlawful deductions from wages and out-of-pocket expenses to more than 400 misclassified port…
A couple considers how to tackle debt relief for wife
“It looks to me that there’s more stuff going on here, although it’s my policy not to get involved in matters that are between husband and wife.” LET…
New research measures how much countries could boost economic productivity by investing in people
A new World Bank research released today provides policymakers a compelling evidence that delivering better outcomes in children’s health and learning can significantly boost the incomes of people — and…
What’s new: Tax Cuts and Jobs Act
(Part 3) 1. Amusement, recreation, and entertainment are now non-deductible under the new act. Businesses may still claim 50% deduction on meals if 1) provided to potential customer or client…
Client with good income seeks Chapter 7 or Chapter 13 relief for $84K credit cards
Client is 58. He is not divorced but separated for 20 years. His income is good. He nets about $7K to $8K a month. He lives by himself and does…
4 ways to get out of debt: Which one is right for you?
ARE you overwhelmed with too much debt and don’t know how you can get out? Do you spend at lot of time worrying about your finances and don’t know how…
What to do when you are audited
FIRST, you get a notice called a “contact letter” by mail – postal mail. The IRS does not reach out to taxpayers via email or phone; if that happens, you are…
Recent updates to California’s sexual harassment laws – are your rights affected?
THE area of sexual harassment litigation involves complex rules that are continually evolving. Last month, California lawmakers signed some laws designed to close several loopholes in California’s sexual harassment laws….
Client with good income seeks Chapter 7 or Chapter 13 relief for $84K credit cards
CLIENT is 58. He is not divorced but separated for 20 years. His income is good. He nets about $7K to $8K a month. He lives by himself and does…
19th Asian Small Business Expo promises to cultivate new generation of entrepreneurs
Starting your own business is always going to have risks. Maybe you’re making a career shift and decided to pursue your passion. Or maybe you want to upgrade your current…
PH Agriculture Sec. Piñol visits Washington, highlights PH agri cooperation with US
WASHINGTON, D.C. – After attending the High-Level Meeting on the Implementation of the United Nations Decade of Family Farming (2019-2028) in New York held at the margins of the 73rd Session…
Reporting requirements for US citizens abroad
U.S. citizens are generally taxed on their worldwide income regardless of where the income is earned or received. A U.S. citizen who earns income in a foreign country may also…
Garcetti talks tech innovation, talents in LA at Makers Summit
Innovation in the 21st century could be summed up into one word: startup. The ubiquity of the Internet, social media and smartphones into our daily lives has established the new…
Filipino survivors of human labor trafficking bring “Employers” to justice
EARLY this month, state and local law enforcement arrested employers who were operating adult residential and child care facilities in the Bay Area. The employers were charged with human trafficking…
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…
3 reasons why filing bankruptcy might make sense for your situation
NO one ever likes to talk about bankruptcy. However, it’s simply a fact of life. Things happen. Whether it’s losing your job, going through a divorce, having huge medical bills…