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…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
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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…
Sexual harassment at Hollywood’s workplace
The media is awash with reports regarding Harvey Weinstein, the co-founder of movie companies Miramax and the Weinstein Company. Weinstein is accused of sexual harassment and sexual assault by employees…
Drowning in debt but too embarrassed to ask for help?
“If your finances are out of control, you need to do something about this situation- the sooner the better. You don’t need to face debt problems alone. Help is available…
Globe Business helps retail industry future proof their businesses
Globe Business, the enterprise information and communications technology arm of Globe Telecom, has gathered top Philippine conglomerates in the retail industry to help them future proof their businesses through ICT….
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….
How IRS audits consultants
THE IRS developed a guide for its agents in auditing consultants to focus on: 1. Travel and meals, 2. Bartering, 3. Independent ontractor 1099 versus employee W2, 4. Shifting or assignment of…
Protecting the mentally disabled from police use of deadly force
SEVEN hundred forty-eight people have been shot and killed by police in 2017 nationwide, according to an ongoing project by The Washington Post. Of these shootings, mental illness played a…
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…
When credit cards become a heavy debt burden
WITH credit card debt approaching $1 trillion according to the Federal Reserve, there is no doubt that thousands and thousands of families who can’t pay their credit card debts are…
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….
Common misconceptions about bankruptcy
(This article is part 1 of several parts) Having literally represented several thousand clients in successful bankruptcy cases in the last 35 years in California, I have distilled the common…
Classified as an exempt or salaried employee? You may be entitled to back wages
Allen Buckingham, and three other employees, worked as “Implementation Advisor” or “Client Fulfillment Consultants” for Bank of America, N.A. They were classified as exempt by their employer and paid a…
How the Irs audits attorneys
IRS agents are equipped with audit techniques unique to attorneys. Here’s insider info on how IRS instructs its agents to probe into: 1. Unreported income, deferral of income. 2. Advanced…
Warning: Hiring a debt settlement company can make your problems worse
Are you thinking of hiring a debt settlement company to help you solve your debt problems? Before you do, maybe you should read this article as it could save you…
Tips to remember when you owe the IRS
Tips to remember when you have outstanding tax liability to the IRS: • Receipt of tax bill. If you receive a bill for taxes due, pay the taxes owed including…
Seniors raid retirement accounts but still require Chapter 7 relief
THE clients are seniors. The wife is 67 and had just retired from a lifetime of being a registered nurse. She has social security benefits of $2,100. The husband is 67…
The rights of disabled probationary employees
Q: I HAD to undergo surgery mid-way through my probation period as a new hire. When I told my manager that I needed to be off-work for several weeks to…
States with the lowest and highest combined income, sales, county and city taxes
10 States with the Lowest Combined Income and Sales Tax Rates: • New Hampshire • Alaska • South Dakota • Wyoming • Florida • Texas • Washington • Delaware •…