The wage gap between rich and poor increases among Asian Americans
Asian Americans now have the highest income inequality among all racial and ethnic groups, new Pew report shows Income inequality has been steadily rising for the last 50 years for…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
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Taking care of family: The struggles of an unpaid caregiver
WE may always think that as Filipinos, our culture dictates that we are expected to take care of our parents when they are no longer able to take care of…
Five benefits of establishing a revocable living trust
There is never the perfect time to think about who you would like to inherit from your estate in case you pass away or at least who among your closest…
Should food delivery drivers be classified as independent contractors?
TECHNOLOGY has dramatically changed the way that people work and earn a living in the 21st century. Instead of the traditional employer-employee model, companies who need services obtain them from…
Senior seeks Chapter 7 relief for $60K credit cards but what is the status of residence?
THE client is 57 and is recently divorced with two children, one in high school the other in college. She makes $40,000 yearly in middle management for a large corporation….
Common bankruptcy fears and what to do about them
THE word “bankruptcy” is packed with all sorts of negative emotional triggers. It sounds bad — even dirty. It’s embarrassing. (What if people find out?!) People paint ugly pictures of…
Do hobby loses attract IRS audits?
YES, it does. Losses from hobbies attract IRS audits. It’s cool to run a business that you enjoy, such as photography, dance studio, martial arts, dog-breeding, farming, and other leisurely…
Disrupting the laundry industry: Fil-Am entrepreneur turns her passion for clean clothes into a business
In New York City, it is a luxury to have your own washer and dryer in your unit, or even in your building. Some would stuff their dirty laundry into…
Philippines growth to remain strong despite global uncertainty
MANILA, July 13, 2018 – The World Bank maintains its 6.7 percent growth forecast for 2018 and 2019 despite rising global uncertainty. Considering recent economic data, the composition of expected…
AdSpark strengthens digital agency capabilities through new leadership
Veteran marketing comms exec Onat Roldan appointed President and CEO AdSpark Inc, Globe Telecom’s digital advertising subsidiary, has appointed seasoned marketing communications executive Onat Roldan as the company’s new President…
Senior Care Home business 101
A Senior Care Home is also known as board and care, residential care facility for the elderly (RCFE) and assisted living facility. It is a place where non-medical care is…
Taxes for resident and nonresident aliens
(Part 2) IN the previous issue we defined: 1) who are resident aliens, nonresident aliens or both, 2) who are exempt individuals, and 3) closer connection exception. Do not forget…
Fired employees are entitled to final paycheck immediately
Q: TWO weeks ago I was fired from work. My employer told me my last paycheck will be mailed to me by next payday. I have not received it yet….
Unemployed senior converts Chapter 13 to Chapter 7 in fight to keep house
“ Even though the debtor was not employed, she was willing to liquidate a part of her retirement account to pay for the settlement to keep her house.” WHEN I…
Are you sinking deeper into debt every month?
IF you are searching for debt reduction solutions, no doubt you’ve been inundated with advertisements for various debt management programs, companies and solutions. The choices seem confusing to the average…
Do you know that some IRS forms attract audits?
SOME IRS forms attract audits. Merely filing them causes the Agency to look at your tax returns. Here are some of them. Form 1099: You may have had a side…
Delinquent tax debt could mean revocation of your passport
IN February 2018, the IRS will start certification of individuals with delinquent tax debt to the State Department. How will the IRS certification impacts you? • Upon receipt of certification….
Your best World Cup viewing experience, brought to you by LG and Grand Hyatt
LG Philippines and Grand Hyatt hotel have teamed up to give football fans the ultimate World Cup viewing experience. Follow the action as it happens in Russia as Pool House at…
Homeowner files last-minute Chapter 13 without credit counseling as loan modification is denied
“So why even assume this kind of risk by filing an incomplete petition?” THE client is 59 and single. He has a decent job where he makes $4,000 a month…
Recognizing pregnancy discrimination at work
WHEN Otisha Woolbright became pregnant, her doctor instructed her to stop lifting 50-pound trays of chickens at Walmart. Ms. Woolbright informed her boss about this and her boss said she…
Should you file single, separate, or joint tax returns for a green card?
OUR tax laws give you choices of filing status to prepare your income tax returns. Which one is appropriate for a married person petitioning (or being petitioned by) your spouse?…
SBA Administrator Linda McMahon visits successful minority owned small business during nationwide tour
AMIDST a busy schedule, wrestling magnate turned Cabinet member Linda McMahon made way through an also busy Porto’s Bakery & Cafe in Glendale, California — her last stop in visiting…
Solar energy credit for business and residential
THE solar investment tax credit is available to both commercial under section 48 and to residential under section 25D for both solar water heating systems and photovoltaics property to generate…
Business owner chooses Chapter 7 for $250K in personal guarantees on business loans
“Do not sign personal guarantees for business loans because you will be on the hook if the business cannot pay the loan.” THE client is 45. He is actually a…
AlipayHK and GCash launch cross-border remittance service powered by Alipay’s blockchain technology
Real-time remittance service made available between Hong Kong and the Philippines HONG KONG and MANILA, 25 June 2018 – AlipayHK and GCash today announced the launch of a cross-border remittance…
Can you be deported for filing false tax returns?
YES, you can be. It’s terrible, but it happens. In a landmark case, the Supreme Court held that a conviction for willfully filing a false tax return is a deportable…
Business owner choose Chapter 7 for $250K in personal guarantees on business loans
“Do not sign personal guarantees for business loans because you will be on the hook if the business cannot pay the loan.” THE client is 45. He is actually a…
Employee misclassification results in serious injustice to workers
(“Independent contractors” lose employment rights) EDUARDO Garcia worked 15-hour days as a port truck driver for Tradelink Transport. Even after working 15 hours, his boss would wave him back to…
Top 3 Medi-Cal myths debunked
MEDICARE, Medicaid, Medi-Cal. If your 65th birthday is on the horizon, then these terms may have begun to appear on your radar. Unfortunately, because the three are so similar in…
Waiting to file for bankruptcy can sometimes hurt you
A LOT of people in debt often already know what they need to do once they realize that bankruptcy is their only way out. But they usually delay the decision…