Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
“ 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,…
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…
“ 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…
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…
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….
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…
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….
“ 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…
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…
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…
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…
“ 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…
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…
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…
“ 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…
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…
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…
“ The Chapter 13 trustee, unlike the Chapter 7 trustee, does not have the power to sell debtor’s house. So, in Chapter 13, there is no risk of losing debtor’s…
A MAJOR thrust of the Trump Tax Plan is to bring back jobs to America. Large multi-nationals left and set up operations in foreign countries to avoid our corporate tax…
WE’VE all been there. Those moments when almost anything that could go wrong DOES go wrong in our finances. As human beings, we all want to be safe and secure…
EACH year brings hundreds of new laws to Californians and the year 2017 is no exception. Cell phones while driving AB No. 1785: Any electronic devices including smart phones will…
FIRST client is 45 and single. His gross income last year was $98K, which is good. It reached $98K because of bonus. Without bonus, his gross income is $72K. This…
CYNTHIA Begazo, then 53 years old, was hired in March 2015, as the Human Resources Director at Passages Malibu, an addiction treatment center in Malibu, CA. Shortly after starting work,…
HERE are proposed tax changes that could affect individuals like you and me. Individual Tax Rates: President Trump plans to simplify the tax code by condensing the current seven rates…
ARE you seriously in debt and don’t know what to do about your situation? Are you afraid that unless you do something about it, thing will just continue to get…
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….
FIRST client is 45 and single. His gross income last year was $98K, which is good. It reached $98K because of bonus. Without bonus, his gross income is $72K. This…
“ Courts have recognized two types of sexual harassment. One is called quid pro quo harassment, which exists when to a sexual conduct is made a condition of employment benefits,…
Estate Tax: AMERICANS pay taxes throughout their lives, then pay again after death. This is wrong. The death tax itself should be terminated. Yes, there are two things we can’t…
1. What is New? Same sex marriages are considered the same as couples of opposite sex marriages for Federal tax purposes. On the other hand, other relationships that are not…
