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…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
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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…
What do you bring to an IRS audit?
THE IRS will tell you what records to bring to an audit. The requested documents varies based on your situation. They will need support for income that you report and…
Price surges major concern among Filipinos, says poll
MAJORITY of Filipinos want the current administration to immediately address rising prices of basic goods and services. The figures from the September 2018 Ulat ng Bayan revealed that 63 percent…
32 years of serving Filipino kababayans with safe and reliable door-to-door service since 1986
Customer’s satisfaction has always been the company’s top priority MON Cargo Services, Inc. the pioneer in door-to-door delivery services to the Philippines in the Bay Area celebrates its 32nd year…
PH Consulate General in Honolulu Inaugurates Chancery Construction, Renovation Project
HONOLULU 26 September 2018 – To ensure fast and efficient service to the public, the Philippine Consulate General in Honolulu will construct a new consular annex building and renovate its…
Do you have enough witholding?
Part 2 THE US tax system is on a pay-as-you-go basis. Taxpayers are required to pay most of the tax liabilities during the same year they earn the income. If…
Bank forcloses on client’s house despite Chapter 13 filing
Seniors choose Chapter 7 to discharge $30K and $10K credit cards CLIENT is 47, single and a registered nurse. Her income is good at $80K a year. She has no…
Don’t make these mistakes if you are filing bankruptcy
IF you are considering bankruptcy as a last resort to solve your debt problems, it is important for you to have your case evaluated by a professional who can advise…
Client files adversary against debtor for $370K
THE client is a foreign company that has been doing business with a California company since 2012. The client is one of the world’s largest manufacturers of a certain kind…
Same-sex harassment at work equally illegal
(Employer’s failure to prevent is actionable) COLE H worked as a truck driver for Beverly Fabrics for eight years. During the last 5 years of his employment, he experienced bullying…
What happens after an IRS audit is completed?
WHEN an audit is completed, you will be notified of the Agency’s determination: 1. No change: IRS accepts your returns as filed. You will be asked to sign the examination report….
Documentary highlights Facebook ‘cleaners’
‘The Cleaners’ to be shown at 8th Human Rights Documentary Film Festival in Hong Kong MILLIONS of new content are uploaded to the internet every single day, entering the timelines and…
One long ride through history
The evolution of the automobile in the United States IF one would imagine a time when there were no cars to take people places, one would have to travel way…