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…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
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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…
What scares people about bankruptcy?
JUST a mention of the word “bankruptcy” is enough to scare some people to death. Their minds are immediately filled with horror pictures of creditors taking away their home, business,…
OIC Basics: Series 2
IN series 1 we talked about the factors you need to consider before you decide choosing OIC, and meeting the compliance requirements before proceeding. If your offer is accepted, congratulations!…
Larry Itliong Day and the continuing struggle of immigrant workers for just wages
IT was the spring of 1965, and in Coachella Valley, California, grape season was starting. Many of the workers in the grape fields were Filipinos, who had just discovered that…
Client with bank account levied seeks Chapter 7 relief
THE client is 60 & his wife is 58. He issued his check to pay rent of $1,200 but the check was dishonored for insufficient funds. The landlord called him…
Debt problems can be frustrating but there’s a way out
IF you are experiencing debt problems, you may find it difficult to talk to other people about it to the point that you are not getting the help that you…
Living in harmony at Avida Towers One Union Place
A consistent provider of homes designed to please the senses at the most happening locations, Avida is taking convergence to a whole new level with Avida Towers One Union Place…
OIC Basic 1
BEGINNING on March 27, 2017, new offer in compromise (OIC) applications plus fee will be returned by IRS if all required income returns have not been filed unless there is…
Globe President and CEO Ernest Cu on Digital Transformation: It’s a matter of survival
Globe President and CEO Ernest Cu shared at the recently concluded DigiCon 2017 that in order for a telco business to survive nowadays, digital transformation is a must. “We actually…
Avoid the bondage of debt, especially seniors
“It’s easy to get into debt in America. But it’s really hard to get out of debt in America. That’s why you need the full legal power of Chapter 7…
Sanctuary state: New laws protecting immigrant workers
IN honor of Larry Itliong Day on October 25, this column will highlight the plight of immigrant workers and the new laws that were recently signed to protect them. California…
Should you form a regular “C” corporation?
YOU may choose to do business as a corporation. A corporation is a legal fiction. It exists only in contemplation of law. It has a separate legal identity. That entity,…
If your debts are growing faster than your income, read this
ARE your growing debts starting to worry you and cause you sleepless nights? Are you trying hard to pay what you can every month but feel like you’re just running…
Growing Chinese arrivals drive more global premium brands to invest in DFP
“The Philippines is in a position to join the ranks of countries whose Duty Free industry is expected to grow by an average of 40 percent in the next decade,”…
Nokia 3310 3G now available in the Philippines for P2,790
Philippines, 16 October 2017 – HMD Global, the home of Nokia phones, today announced the local availability of the highly anticipated Nokia 3310 3G with fresh new colors and a new…
Hino expands footprint in Metro Manila with new dealership
MANILA, Philippines – Hino Motors Philippines (HMP), the exclusive distributor of Japan’s leading brand of trucks and buses in the country, celebrates another milestone with the grand opening of its…
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….
Why banks love governance
SAN RANCISCO—Governance is everywhere. I am slated to deliver a talk related to Ownership and Succession today to the students, faculty members and business owners at the Community College of San…
Should you conduct your business as a sole proprietorship?
Upon deciding to form your own business, the next question is – what type of entity should you operate – as a sole proprietorship, partnership, corporation, LLC, or LLP? Which…
Common misconceptions about bankruptcy
(This article is part 2 of 2 parts) HERE are some more misconceptions about bankruptcy that we did not discuss last week: 1. Will I lose my house? Normally, debtors…