Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
FOR most of us, busy driving the kids (or grand-kids) to school, going to work, and trying to pay the bills, the last thing on our minds is our mortality. Perhaps that’s why more than 64% of Americans don’t have a will. It’s also partially because most people don’t like to think about death,” according…
SEC 25C refers to the $500 home or residential energy efficient credit expired after 2016. Sec 25D refers to the solar electric and solar water heating systems residential energy efficient property credit (REEP credit).There is no dollar limit on the credit and credit percentages are: through 2019 the credit amount is equal to 30 %…
Q. AM I required to report bank accounts in a foreign country? A. Yes, if you have more than $10,000 at any time outside the U.S. Q. Am I exempted if my accounts are in Euros, Chinese Yuan, Philippines pesos, or Mexican pesos? A. No, you are not exempt from reporting foreign accounts just because…
THE client and her husband are the only stockholders of an S corporation that has been doing well for the last 15 years. In fact, it’s still doing well and had a great year last year. What is the difference between an S corporation and a C corporation? In an S corporation, the business…
MICHELLE McGrath and Veronica O’Boy worked for Wyndham Resort Development Corporation and its affiliates as Salespersons in California. Wyndham employed them to sell its goods and services such as interests in timeshare properties. After a two-month training period, Salespersons are compensated only by commission and advances on commissions based on sales of Wyndham’s products and…
ARE you seriously in debt and thinking of filing bankruptcy as a last resort? Individuals who have accumulated excessive debt are often left to ponder whether they should file bankruptcy in order to get out of debt. Sometimes, these people feel that somehow, they’ve lost, failed, or that they will never have a chance to…
“Applicants for diplomatic or official visas will be exempt from the proposed revised questions.” ON March 30, 2018, the Department of State published in the Federal Register its proposed new requirements which will affect immigrant and non-immigrant visa applicants alike. There is a 60-day comment period for public comment on the proposed new…
Offers optimized footprint design, advanced product features, and competitive specifications Easy to install, use, and service quickly Addresses customer needs in a wide-range of industries and environments Elevates industry standards for 10-to-40kVA UPS with efficiency up to 96 percent in double conversion mode, up to 99 percent in ECO Mode Schneider Electric also launches Easy…
THE client is a corporation that has been in business since 2000. It had good times and bad over the last two decades but always managed to land on its feet. It has an ever-growing list of clients that need its products, which it sources from abroad. It has two kinds of clients: clients with…
STARTING March 27, 2017, new applications for offer in compromise (OIC) plus the application fee will be returned by the IRS if all required income tax returns are not filed and there is no valid extension filed for the current year income tax returns. The initial payment submitted with the returned application will be applied…
Inaugural hub locations include Historic Filipinotown In Los Angeles, cars continue to be the preferred method of travel for many of the county’s 10 million residents. This is true even as investments go into expanding the city’s transit network. Having a car often means independence, more freedom, and a lot of saved time. Yet many…
Manila, 24 April 2018 – Global real estate consulting firm JLL (NYSE: JLL) has acquired JCL International, a Philippine company that provides project management and construction services. Established in 2002, JCL is located in Manila and has more than 40 employees, including architects, engineers, and construction personnel with local and international experience. Its team is…
CRIMINAL Investigations can be initiated from information obtained from within the IRS when a Revenue Agent (auditor) or Revenue Officer (collection) detects possible fraud. Information is also routinely received from the public as well as from ongoing investigations underway by other law enforcement agencies or by United States Attorney’s offices across the country. What should…
THE client is a corporation that has been in business since 2000. It had good times and bad over the last two decades but always managed to land on its feet. It has an ever-growing list of clients that need its products, which it sources from abroad. It has two kinds of clients: clients with…
THESE days, employers generally know that gender discrimination, i.e., singling out someone for negative treatment just because of their sex, is illegal. Employers may have a handbook saying all the right words to discourage gender discrimination. However, the existence of an employer’s written anti-discrimination policy does not mean that it is followed in practice. Even…
THE cost of a college education has spiraled out of control for most families. In the last 10 years, student loan debt has sharply risen from $240 billion to $1 trillion dollars. Almost 60 percent of this debt is held by households with less than $8,500 in net worth. This makes sense because if these…
LG Electronics continues to establish its strong foothold in the OLED TV market with impressive, industry-topping sales in 2017. Global sales and shipments prove that LG is, once again, the world’s best-selling brand for OLED TVs, according to the TV Sets Market Tracker, a report that surveyed manufacturers in Asia Pacific, Eastern Europe, Latin America,…
The Bank of the Philippine Islands (BPI) will allocate approximately P50 billion from its stock rights offering (SRO) on four strategic opportunities that will help the Bank in its expansion in 2018 and in the coming years. “Our client base has grown by about half a million to 8.5 million in 2017. Of all Filipinos…
Education has also long been cited as a way out of poverty and a path towards new opportunities and a better future. Yet, inequity in education continues to be a problem as many young students around the world continue to lack access to quality instruction. This is true in the Philippines where approximately 3.8 million…
WHAT you need to do when you received a call or notice from the IRS? Below are some tips that you should be aware of: • Revenue Officer (RO) observes fair tax collection practices and taxpayer rights. • You have Right to Representation under Internal Revenue Manual (IRM) 5.1.10.7.2. • You will be advised first…
New offering delivers unmatched protection for all apps, with flexible consumption models to fit any deployment and management scenario Manila, Philippines, APRIL 13, 2018 – Coinciding with the Australian Cyber Security Centre conference this week, F5 Networks (NASDAQ: FFIV) is announcing its Advanced Web Application Firewall™ solution for comprehensive application protection. With industry leading security…
THE Internal Revenue Service (IRS) Criminal Investigation Division (CID) conducts investigations regarding violations of the Internal Revenue Code, the Bank Secrecy Act, and Money Laundering statutes. What are warning signs that you may have been referred to CID? 1. The agent starts asking about your life style and spending habits. 2. The agent asks about…
TWO clients with issues relating to known and unknown persons who used their names and social security information to borrow credit card in their names. The first client is 51 years old and married. She met this person who became her “friend.” Let’s just call the “friend” Ms. Crook. The client is a relatively new…
Q: I work at a hospital and we heard rumors that our computer servers were hacked. As a result, both patient and employee information were stolen. I am very worried about identity theft and damage to my credit. What are my rights? A: Anyone who conducts business in California and owns or licenses computerized data…
IF you are delinquent in your debt obligations and are being pursued by bill collectors, you may be wondering what these bill collectors can do to force you to pay. Maybe you’re afraid to even answer your phone or open your mailbox, fearing what you may find. Perhaps you’re sick and tired of bill collectors…
DID you know that every 35 minutes an older American dies from a traumatic brain and head injuries precipitated by a fall? In fact, each year 2 million American seniors are taken to hospital emergency rooms for fall-related injuries. According to the Center for Disease Control and Prevention (CDC), “More than one-third of adults age…
THE client is a senior at 67. He is married but has been separated from his wife for some time. He lives with a woman but is not married to her obviously because he is only separated from his wife. You can’t remarry until you have divorced. Separation, whether de facto or legal, does not…
Q: AFTER 12 weeks of medical leave for a surgery, I suffered new complications and my doctor told me I needed to take more leave time. I told my employer I could not go back to work yet and submitted my doctor’s note. Three days after I was supposed to be due back at work,…
* * * 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 – Andersen Consulting) and Ernst & Young before establishing Sy Accountancy Corporation in Pasadena, California. * * * He has 50 years of…
IF you are struggling to pay your bills every month due to insufficient income and/or excessive expenses, there is a way to make your debts more manageable so you can sleep better at night. Chapter 13 is the section of the US Bankruptcy Code that allows individuals in the United States to reorganize their finances. …
