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…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
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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….
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…