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…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
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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….
Driver’s license and car registration 101
When I first learned how to drive, I was baffled with how much paperwork is actually involved. However, it turned out to not be as scary and complicated as I…
Does Godzilla live in your house?
THE Japanese created Godzilla a long time ago. It’s a gigantic T-Rex on steroids that destroys Tokyo and the rest of Japan until someone comes to the rescue and kills…
What does it mean to be “off-duty” during lunch breaks?
Q: I work in a hospital on 12-hour shifts. During my meal break, I sometimes go to our break lounge to take a nap. My supervisor told me sleeping is…
15 dont’s during an IRS office audit
1. DON’T volunteer information. A typical agent is a low-key, friendly agent. They get your guard down by playing a nice guy role. Don’t be deceived by it. Remember that…
Is bankruptcy a good idea for you?
IF you are struggling with debt and have done everything you can to no avail, bankruptcy may be the only way for you to wipe the slate clean on your…
OIC Basics: Series 3
SERIES 1 we talked about the factors you need to consider before you decide choosing OIC, and meeting the compliance requirements before proceeding. Series 2 we explored on what you…
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…
Remedies for victims of human labor trafficking
Q. MY employer brought me o merica o ork as live-in nanny for their youngest child. I would be paid $1,000 per month with weekends off. When we arrived in Los Angeles, my employer…
10 basics of the IRS appeals process
IF you are not satisfied with the results of your IRS audit, go to Appeals. You have a choice of either ending your misery by paying up or by continuing…
Debt forgiveness without bankruptcy
YOU’VE probably seen a lot of these ads: “Settle your debts for pennies on the dollar!”, “Reduce your debts legally without filing bankruptcy!” “Stop bill collectors now and pay them…
Delinquent 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….
Seniors raid retirement accounts but still require Chapter 7 relief
“So the lesson here is that you should never use your retirement accounts to pay off your debts.” THE clients are seniors. The wife is 67 and had just retired from a lifetime…
Doing work before clocking in?
You’re entitled to back wages Q: I WORK at a customer service company that deal with private information. To protect our clients’ privacy, we use a lot of technology to…
How long should you keep tax records?
HOW long do you have to keep tax records? How long can the IRS audit your tax returns? Let’s discuss tips on statute of limitations so you can clean your…
Filing bankruptcy even when you don’t want to
THIS is one thing I hear from people all the time: “If you ask me, I really hate doing this but I feel I have no choice.” Of course, no…
Tips to remember when you owe the IRS: Series 2
” If you cannot pay your tax liability in full, request for an installment agreement.” IF you cannot pay your tax liability in full, request for an…
Seniors need relief from big HELOC 2nd trust deed and $40K credit cards
Senior loses job, needs chapter 7 debt relief THE clients are 63 and 64. They are young seniors. Up to 65, you are a young senior in my book. You…
Notifying the employer of your disability
A doctor’s note may save your job RUTH Featherstone worked for Southern California Permanente Medical Group. She suffered from a sinus condition that required surgery. After several weeks of disability…
Should you form a partnership?
YOU may choose to run your business as a partnership. A Partnership is an association of two or more persons as co-owners who intend to carry on a business for…
Is filing bankruptcy really worth it?
WHEN you are facing money troubles, sometimes bankruptcy can be the quickest and best way to get out of debt and get immediate relief from stress and anxiety. But is…
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….
Avoid the bondage of debt, especially seniors
ACCUMULATING debt is the easiest thing you can do in America. Even your dog can get credit cards with a fake social security number. If you are an immigrant and…
When employer gives dishonest reasons to cover up discriminatory firing
CESAR Astorga worked as a maintenance supervisor at Snap-On Logistics Co., a power tools manufacturer. In 2002, while working, Cesar’s knees were injured when he fell from a scissor lift….
Should you form a Limited Liability Company (LLC)?
YOU have seen businesses with “LLC” after their names. That LLC refers to Limited Liability Company which is a hybrid that combines the pass-through attributes of a partnership with the…