Series for Covered CA: Part 1 – Introduction
OBAMACARE is normally used to mean Covered California (Covered CA) but they not the same thing. Obamacare is the law, the formal name of which is Patient Protection and Affordable…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
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Police use of excessive force results in wrongful death recovery
ON April 27, 2014, in Compton, CA, L.A. County sheriff’s deputies were called to a Target store, where a theft was allegedly occurring. Police arrived at the scene and confronted…
I owe the IRS – what can I do?
HERE 10 tips if you cannot immediately pay your liabilities to the IRS: • Pay What You Can: Pay promptly to stop additional penalties and interest from accruing. If you…
Debt problems: 2 things you need to change if you want your life to get better
EVERY day, I meet with a lot of people who are sick and tired of being in debt. And yet when I talk to them, I discover that they are…
Protecting employees injured at work from wrongful termination
ADAM Prue worked for the Brady Company, a construction company in San Diego, CA. Prue was injured at work and suffered a hernia in June 2011. Because of this, Prue…
Excluding foreign earned income
ARE you a U.S. citizen or resident working in a foreign country? Have you declared your foreign income? Have you even filed a tax return? Or are you hiding from…
Bankruptcy: Don’t let your past decide your future
AS a Bankruptcy Attorney for the last 18 years, I have counseled thousands of individuals with all types of debt problems. A lot of these people often feel tired and…
Average itemized deductions
FOR taxpayers who itemize their deductions, the chart below should be of interest. But for those who take the odds, this chart should be of very special interest. While it…
Bankruptcy court rules in favor of client for $250K after trial
87-Year-old senior seeks chapter 7 relief I REPRESENTED a foreign company with a $250K claim for a forty foot container of manufactured goods that it delivered to the debtor…
Tips to keep the IRS away
KEEP a low audit profile. It reduces risk of an audit. Here are some tips to keep the IRS from auditing your tax returns: • Make sure that social security…
Young senior loses job and converts Chapter 13 to Chapter 7
Senior files same to discharge $70k credit cards When I say young senior, I mean 60. She’s a single mom with two adult daughters who are over the age of 21….
Honoring the courage of a Fil-Am hero who fought for just wages
“ Larry Itliong, his struggles, and his legacy continue to be relevant to the workers of today, particularly immigrant workers who face similar challenges in the workplace. For example, present-day…
States with the lowest and highest tax rates
Individuals and businesses in all 50 states pay federal income tax. Residents in 41 states also pay state income tax while nine states have no state income taxes. Here are…
Bankruptcy: Why suffer needlessly if you seriously need help?
“ The legislative intent of Congress in passing our bankruptcy laws is to allow a fresh start to those honest individuals who have found it impossible to cope with debt…
Should US workers abroad pay self-employment tax?
You may be liable for U.S. self-employment taxes if you have become an independent contractor either for a new employer or a foreign employer with no ties to the U.S….
Clients choose Chapter 13 to avoid risk of losing house to Chapter 7 trustee on steriods
Senior wants Chapter 7 to wipe out $22K credit card debt “ Some credit cards specialize in giving credit to people who have come out of Chapter 7. Chapter 7 is…
Should I tell my employer about my medical condition to accommodate my disability?
Q: I WAS diagnosed with herniated disc and severe anxiety. I want to request leave but want to keep my privacy at work. Do I need to tell my employer…
10 tips on penalties for late filing/paying your taxes
1. THE failure-to-file penalty is generally more than the failure-to-pay penalty. If you cannot pay all the taxes you owe, file to prevent that more costly failure-to-file penalty. 2. The…
Here are the early signs of debt trouble you shouldn’t ignore
HOW much debt is too much? Are you worried that you have accumulated more debt than you can afford to pay back? Are you feeling depressed, frustrated, hopeless or maybe…
Must US workers abroad pay self-employment tax?
YOU may be liable for US self-employment taxes if you have become an independent contractor either for a new employer or a foreign employer with no ties to the US….
Original Medicare and completing the Medicare puzzle
(Part 2 in series of seniors) THE Original Medicare has Part A and Part B. Part A covers inpatient services like hospitalization. Part B covers outpatient services. In 2006, prescription…
Seniors file chapter 13 to rescue house and handle tax liens
Client files chapter 7 for $40K credit cards CLIENTS are seniors. Husband is 72. Wife is 71. Both are retired and receiving combined social security and pension total of $4,015/mo….
Strength in numbers: court sides with employees, strikes class action waivers
THERE are valid overtime or meal break claims that may be too small to require a lawsuit. The litigation may cost too much and the payoff for one employee may…
10 tips for late filers
• FILE Electronically – Consider filing electronically instead of using paper tax forms. If you file electronically and choose direct deposit, you will receive your refund faster. 2. Check social…
How to file bankruptcy and keep everything
ONE common misconception people have is that if they file bankruptcy, they will lose everything that they’ve worked hard for. For this reason, a lot of people continue to suffer…
4th Annual ICON Awards
The Organization of Chinese Americans (OCA) of Las Vegas presented its 4th Annual ICON Awards on Monday, Sept. 26 at Spanish Trails. this year’s ICON Award honorees are: Dr. Zhian…
You owe taxes? Cannot pay now?
(Part 2) WE talked about other payment plans in our other newsletter. Now let us explore Offer-in-Compromise “OIC” under Code section 7122. OIC is a tax liability settlement agreement of…
Soriano: Three brothers dead in an inheritance dispute
WHEN succession goes very wrong, it can be fatal. The case of Mayfull Foods Corp. is a lesson to founders and family business leaders in Asia not to take succession…
Seniors seek relief from $80K and $28K credit cards
CLIENTS are young seniors at 60. Husband has a stable middle management job that pays $5K a month. Wife is not employed. They don’t own a house. They rent for…
Police use of excessive force results in wrongful death verdict
ON Christmas night in 2013, 19-year-old Asa James Dolak was having a domestic dispute with his ex-girlfriend, who is also the mother of his two-year-old son. The dispute ended with…