Federal tax update part 2: 2017 and 2018 H.R.1
2017 versus 2018 tax rates: individual income tax rates in 2017 in percentage are 10, 15, 25, 28, 33, 35, and 39.6. The 2018 rates in percentage are 10, 12,…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
Read More
#MeToo is not just a movement, it is evidence in discrimination claims
“ Apart from becoming a cultural phenomenon, the phrase ‘me-too’ is actually found in the law, as when plaintiffs invoke ‘me-too’ evidence in support of their claims for damages involving sexual harassment and discrimination.” THE MeToo ampaign started…
Senior needs bankruptcy relief. But Chapter 7 or 13?
THE client is 74. Her husband passed away two years ago. Her only source of income is social security of $2,000 a month, which was her husband’s social security. Her…
What you should know about the new tax law Part I: The basics
1. THE standard deduction is doubled: Republicans want to simplify our tax code so more people can claim standard deductions instead of more complicated itemized deductions. This becomes a reality…
3 reasons why bankruptcy might be the best solution for debt problems
IF you’re in debt and are considering bankruptcy as an option for you to get needed relief, perhaps just hearing the word “bankruptcy” makes you extremely nervous. Maybe the word…
California tax rates and exemptions for 2017 tax returns
AMOUNTS for tax returns in 2017 are compared with amounts in 2016. Exemption credits: a. $114 from $111 – Single, Married filing separately, Head of Household. b. $228 from $222…
Client with nondischargeable judgment of $80K needs Chapter 13 relief
THE client is 50 and operates a business. There is a state court judgment against him for $80K. Is this judgment dischargeable in bankruptcy? The answer is: If the judgment…
How personal injuries may affect employee rights
Q: I WAS severely injured in a recent car accident while returning to work on an errand. I had to undergo multiple surgeries. I missed several weeks of work and…
Overview of Tax Cuts and Jobs Act
REPUBLICANS hail the Tax Cuts and Jobs Act as their biggest legislative achievement under President Trump. It’s the first major tax overhaul since the days of fellow Republican Ronald Reagan. The…
To people who have debt problems but are too embarrassed to seek help
DO you need help with debt problems but are too embarrassed to even talk about them? Perhaps you’re under a lot of stress due to your finances but don’t even…
A client wants Chapter 7, but can he avoid the presumption of abuse?
A CLIENT wants Chapter 7, but can he avoid the presumption of abuse? The client is 55, married with a son and daughter who have just entered college. His income…
Federal tax update for 2017 tax returns
2017 versus 2018 tax rates: individual income tax rates in 2017 in percentage are 10, 15, 25, 28, 33, 35, and 39.6. The 2018 temporary tax rates percentage are 10,…
Employment protections strengthened under new laws in 2017
THIS is our yearly wrap-up of some of the new laws that were created or that took effect in California in 2017 to continue to protect employees: California Prohibits On-Duty…
Year-end tax moves by December 31, 2017
OUR recommendations of tax moves before year-end is a little different because of President Trump’s major tax overhaul and the time – or lack of it – to implement tax…
Is bankruptcy the only realistic way for you to get out of debt?
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 bankruptcy is their only…
Successful settlement of $700,000 judgment for $25,000 without bankruptcy
THE clients are husband and wife and they are still young. When I say young, this means anyone who is 65 and younger up to 17. The World Health Organization…
10 ways to avoid passport problems with the IRS
IF you owe more than $50,000 in delinquent taxes, penalties, and interest to the IRS, you are considered seriously delinquent. This puts your passport in jeopardy. Take action now before…
Get out of debt legally and safely for a fresh start in 2018
ARE you sick and tired of being in debt and having bad credit? Do you want to start over but simply don’t know where to begin? Is filing bankruptcy an…
2017 guide for rental property owners and managers
THE bills described in this Rental Property Owner and Mangers Guide are rental housing related bills that were signed into law in 2016 and become effective January 1, 2017 unless…
Client with nondischargeable judgment of $80K needs Chapter 13 relief
THE client is 50 and operates a business. There is a state court judgment against him for $80K. Is this judgment dischargeable in bankruptcy? The answer is: If the judgment…
Are part-time employees entitled to paid sick leave?
Q: I AM a part-time hourly employee working in retail. I work between 20 to 30 hours a week. I recently got sick and had to be out for three…
10 questions and answers about new passport restrictions
1. CAN you get a passport if you owe taxes? Of course, you can. But if your taxes, penalties and interest total more than $50,000, you fall under a new…
Bankruptcy debt relief: Chapter 7 or 13?
IF you’ve made the decision to file bankruptcy in order to get a fresh financial start, which type of bankruptcy is right for your situation: Chapter 7 or Chapter 13?…
Penalty relief: How to establish reasonable cause
PENALTY could still be relived even if you fail to file your tax returns and pay taxes owed if you have reasonable cause. How to establish reasonable cause • Facts….
A client wants Chapter 7, but can he avoid the presumption of abuse?
A CLIENT wants Chapter 7, but can he avoid the presumption of abuse? The client is 55, married with a son and daughter who have just entered college. His income…
Sexual harassment can happen in any workplace: How to recognize the signs
BETH Silverman worked as a Deputy District Attorney for the County of Los Angeles since 1994. In 2006, she joined the Major Crimes Division (MCD), an elite trial unit in…
IRS moves to revoke passports for unpaid taxes
1. CONGRESS created a new code section called “Revocation or Denial of Passport in Case of Certain Tax Delinquencies.” The idea of this new law is to use travel to enforce…
Bankruptcy: Forget the past to move forward
IF you are up to your neck in debt, you may feel that you have no choice but to file for bankruptcy. But perhaps you’re dreading to make that decision…
Staying safe on the road
Everyone seems hyped up for the holidays, hurrying to wrap up their shopping and head on to parties and get-togethers. This holiday season, chances are, you will be spending much…
Deliquent tax debt could mean revocation of your passport
BEGINNING January 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….