Can bankruptcy end all your financial worries?
ARE you in debt and in a constant state of worrying about your financial situation? Perhaps like most people you live paycheck to paycheck and are barely surviving but you’ve…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
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10 general issues covered at IRS office audits
There are three basic types of IRS audits: correspondence, office, and field examinations. A. Correspondence audits are generally used for specific questions that can easily be verified. B. Office audits…
You have not filed your income tax returns for years?
YOU have not filed your income tax returns for the current year and previous years because: 1) you decided you are not required to file? 2) You are a victim…
Work done before or after scheduled shifts must be paid
“If the employee worked more than 12 hours in a work day or in excess of 8 hours on the seventh day in a work week, the employee is entitled…
How to handle IRS correspondence audit
THERE are three basic types of IRS audits: correspondence, office, and field examinations. Let’s discuss correspondence audits. 1. Do not be afraid to open mails from the IRS. If you…
Sooner or later, you will need to face your debt problems
A LOT of people in debt are in denial about their situation so they go about their lives pretending that everything is OK- until one day they find themselves in…
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…
Senior with bank account levy seeks Chapter 7 relief for $60K credit card debt
Businessman considers bankruptcy for $400K lawsuit I ASKED him if he owed any debts. He said he owed $60K of credit card debt but that they were all still current….
Rights of employees who work 7 days a week
CHRISTOPHER Mendoza and Meagan Gordon are former sales associates of Nordstrom, Inc., a retail chain with locations throughout California. Mendoza and Gordon worked more than six consecutive days in a…
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…
Stuck in debt? Here’s how you can turn things around
IF you’ve ever found yourself financially broke or buried in debt at one point in your life, I’m sure you still remember how it felt. The feelings of despair and…
When can the landlord enter the rental unit?
THE landlord or its representative must give the tenant a reasonable written notice in advance before entering the unit, and can enter only during normal business hours generally, 8 a.m….
Clients seek relief for credit card debt
CLIENTis 48, married, and has a good job paying him $100K gross a year. A family emergency has caused him some financial hardship because money meant to pay for the…
Client seeks Chapter 13 relief for mortgage default, credit cards; Senior seeks Chapter 7 for relief for 40K credit cards
“ If you are saddled with debt, now is the time to get them discharged. Better now than later when you are about to retire. ” CLIENT is 48, married,…
When is an employment termination ‘wrongful’?
Q: I worked in a company for over 10 years. A new supervisor and I do not get along. Last week, the company let me go without any explanation. I…
12 ways to avoid an IRS audit
“ Avoid low gross receipts and few but unusually high expenses.” 1. DO not hide interest and dividend income from the IRS, even if your spouse may not be aware…
Drowning in debt but too afraid to ask for help?
HAVE you ever faced a situation in your life where you needed help so badly but you were just too afraid to ask for it? Perhaps you felt confused and…
Employee’s right to final paycheck at termination
Q: TWO WEEKS AGO I WAS FIRED FROM WORK. MY EMPLOYER TOLD ME MY LAST PAYCHECK WILL BE MAILED TO ME BY NEXT PAYDAY. I HAVE NOT RECEIVED IT YET….
Negotiating with credit card companies to avoid bankruptcy
YOUR credit card payments are past due. You’re confused and don’t know what to do. The bill collectors are calling you non-stop and writing you threatening letters. What do you…
IRS consumer alert tips – the IRS at your door
HOW do you determine if the person visiting you either at your business or at home or calling you are not an IRS imposter? Look for two forms of credentials….
Client seeks chapter 13 relief for mortgage default, credit cards Senior seeks chapter 7 for relief for 40K credit cards
“ If you are saddled with debt, now is the time to get them discharged.Better now than later.” CLIENT is 48, married and has a good job paying him $100K…
IRS consumer alert tips – identity theft
Someone uses your social security number to file a fraudulent tax return to claim a refund or get a job. An employer’s tax identification is stolen to create a false…
Should employees who “volunteer” to work off-the-clock be paid?
Q:I WORK as a nurse at a hospital that has a strict policy of no unapproved overtime, and no going on breaks unless we are relieved by another nurse. We…
How to avoid IRS audits: Deduction issues
BE conservative with deductions if you want to avoid audits. Be aggressive and you increase your risk of IRS scrutiny. Play the odds and you invite an audit. The question…
10 debt danger signs: Ignore them or suffer later
“ Let me get one thing straight, just because you can pay your minimum monthly payments each month doesn’t necessarily mean that you do not have a debt problem” WHILE…
New California laws
PART 1 CUSTOMER Service Dashboard: The goal is provide tools and resources in resolving tax matters. The “Customer Service Dashboard” was launched in March 1, 2017 with estimated time frames…
Abandoned wife, Uber driver seek Chapter 7 for credit card debt
FIRST client is 48 and married in the last 4 years. Husband was a foreigner who professed his love for her in so many ways. Unfortunately, his love for her…
Winners under the Trump tax plan
“ Trump’s plan will help more low-income workers to avoid taxes, not to pay income taxes.” ACCORDING to the Tax Foundation’s Taxes and Growth Model, the Trump tax plan would…
Bankruptcy: Why suffer in debt when the law provides a remedy?
HAVE you heard the story of a poor, old beggar who died one day- and to everyone’s amazement, a money belt found wrapped around his waist contained thousands of dollars…
Tips to protect your company from worker classification audits
PART 1 THE focus of an audit is whether independent contractors should actually be treated as employees. The unpaid taxes for misclassified employees include income taxes, federal unemployment, and FICA…