Seniors rely on Chapter 7 and son for debt relief
THE clients are seniors who just stopped working two months ago. The husband is 75 and the wife is 71. They own a house with $140,000 in equity. Their unmarried…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
Read More
Are you getting paid less because of your gender?
THE California Fair Pay Act (a.k.a. the Equal Pay Act), enacted in October 2015, prohibits employers from paying employees less than those of the opposite sex for “substantially similar work,”…
If you are in debt, this is probably what you’re afraid of
I KNOW we’ve never met. But there’s a common fear that everyone shares when they’re in debt. As a bankruptcy attorney, I hear it from people who consult with me…
California may overturn order to return $331-M to mortgage settlement fund
Hundreds of foreclosures resulted from Wells Fargo glitch Democratic lawmakers in Sacramento are hoping to overturn a court ruling that would order California to use $331 million in helping homeowners hit…
What’s new: Tax cuts and jobs act (Part 1)
• PERSONAL exemptions: the personal exemptions for you, your spouse, and dependents are suspended. This line item may not even show on your 2018 Form 1040. • Credits for child…
Should employees who “volunteer” to work off-the-clock be paid?
Q: I WORK as a nurse at a hospital that has a strict policy of no unapproved overtime, and no going on breaks unless we are relieved by another nurse….
Can mistakes get you audited by the IRS?
YES, definitely. Mistakes can get you audited by the IRS. Let’s discuss common mistakes that can get you into trouble. 1. Filing On Paper Paper-filed error rate is 21% compared…
Too many bills and not enough income? Find out how Chapter 13 debt adjustment can help
ARE you struggling every month to pay your debts, especially your credit card bills? Are you always worried about not having enough left over for your mortgage, rent, food and…
Bankruptcy court rules in favor of client for $250K after trial
I REPRESENTED a foreign company with a $250,000-claim for a 40-foot container of manufactured goods that it delivered to the debtor, a California company, on December 30, 2014. The debtor…
San Manuel Casino breaks ground on expansion with onsite hotel, world-class entertainment venue
THE San Manuel Band of Mission Indians officially began its major expansion project, marked by Yaamava’, a celebratory event and groundbreaking ceremony, that was observed by dozens of community leaders,…
The Filipino confectioner who delivers cake pops to hospital patients
Fil-Am sugar artist Albert Daniel partners with Fountain Valley Regional Hospital and Medical Center to gift cake pops as parting gifts to maternity ward patients GIVING birth is life’s greatest…
Resident, nonresident alien status tax wise – Part 4
(Part 4) IN part 1: we defined 1) who are resident aliens, nonresident aliens or both, 2) who are exempt individuals, and 3) closer connection exception. In part 2: we…
First annual Travel, Trade and Consumer roadshow a resounding success
THE bustling SouthBay Pavilion Mall in Carson became the apex of the Filipino-American community last August 4 and 5 during the Travel, Trade and Consumer Roadshow (TTC). The event is…
Are men entitled to the same leave for a new baby? (Equal Rights in Parental Leave Benefits)
Equal rights in parental leave benefits Q: I HAVE been working 4 years for a large company in Los Angeles. My wife just gave birth to our first child. When…
A tale of two seniors in financial distress
THE first senior is 73. He has been separated from his wife for 30 years but not divorced. So, for all intents and purposes, he is single because even if…
Are you taking too many itemized deductions?
THE Internal Revenue Service currently audits less than 1% of tax returns annually, so your probability of attracting IRS audit is incredibly low. Taking deductions that are higher than average deductions…
Can creditors still sue you for old debts?
Do you have old debts in the past that you haven’t paid and are wondering if the creditors can still come back now and collect from you after so many…
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…
Lulu Group International to put up export operation in PH
Hypermarket operator LuLu Group International is planning to invest $1 million in the Philippines for its export venture of products such as fruits and vegetables, textiles, garments, furniture, and electronics….
How does the IRS select tax returns to be audited?
IRS scores tax returns for audit. The higher the score, the more likelihood that you’ll be chosen for audit. 1. Scoring system: The IRS uses a Discriminant Function System (DIF)…
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…
Does 5 minutes of unpaid work really matter?
DOUGLASs Troester worked as a shift supervisor of coffee giant, Starbucks Corporation. As shift supervisor, he performed store closing tasks where he transmitted daily sales, profit and loss, and store…
Important questions you need to ask when in debt
WHEN people are going through financial difficulty and are unable to pay their bills, their first reaction is often to ignore their debts and avoid contact with creditors. They think…
Fil-Am businesses on display at Travel, Trade & Consumer Roadshow in Carson, CA
Free event on Aug. 4 & 5 features exhibitors, seminars, entertainment & food AN exciting summer weekend of Pinoy pride is coming up on August 4 and 5 at the South…
Exclusion of gain from sale of home
YOU may exclude from gross income gain from sale of principal residence under Internal Revenue Code Section 121. 1. You may be able to exclude gain of $250,000 or $500,000…
Is bankruptcy right for you?
“Are you facing foreclosure and want to save your home? Chapter 13 will stop the foreclosure on its tracks and allow you five years to pay off the default while…
Are employees with work visas protected from wage theft?
“AVisa workers come to work in the U.S. hoping to better their lives and their families’. They work hard, and are less likely to complain about substandard working conditions. There…
How does IRS score your tax returns for audit?
E-Filed Returns: • Electronic data are transmitted to a centralized Submission Processing Center. • Tax preparation software assigns a unique 14-digit Declaration Control Number to each return. • A unique…
If you have debt problems, where did they come from?
I WAS counseling someone the other day in my office. He looked shocked and confused as we sorted through all the credit card statements on my desk and added up…
From business journalist to social entrepreneur
MAD Travel co-founder Tom Graham shares journey towards social tourism platform Whether it’s family, friends, pristine beaches, food, shopping, or business — people find themselves in the Philippines for a number of…