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….
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
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Frequently asked questions (FAQ) #2: Financial accounts
THE IRS issued new guidance requiring individuals with an interest in a “specified foreign financial asset” to attach a disclosure statement to your income tax return for any year in…
Bankruptcy: Should you file Chapter 7 or Chapter 13?
IF you’ve made the decision to file bankruptcy in order to get a fresh financial start, here are some things to consider in choosing between Chapter 7 or Chapter 13….
Education tax credits
THE American Opportunity Tax Credit AOTC and Lifetime Learning Credit can reduce your tax liability if you pay for college in 2016 even if you are studying outside of the…
Senior seeks chapter 7 relief for $60K credit cards but what is the status of residence?
Another senior seeks chapter 13 relief for $50K credit cards CLIENT is 57 and recently divorced with two children, one in high school the other in college. She makes $40K yearly…
Are companies liable when their ‘independent contractors’ injure consumers?
(Why misclassification of workers is a social justice issue) ON September 10, 2013, 53-year-old Faustino Solorio was a pedestrian standing on the shoulder of the road behind the tailgate of a…
Frequently asked questions (FAQ) #1 – FBAR bank accounts
Q. AM I required to report bank accounts in a foreign country? A. Yes, if you have more than $10,000 at any time outside the U.S. Q. Am I exempted…
Warning: Think twice before co-signing for anyone
“ The cosigner is fully legally responsible for the entire debt, just as the main borrower is.” IT is not uncommon for banks and other financial institutions to require a…
Top reasons to have a life insurance
” Singles or married alike must know that certain life insurance policies have valuable cash value. There is no restriction as to where you can use the cash value for….
Foreign Bank and Financial Accounts (Fbar) reporting requirements
If you own a foreign bank account, brokerage account, mutual fund, or other financial account, you may be required to report the account annually to the government. Let’s get an…
Get the best care
“You as the family member have the right to give information, ask questions, participate in care plan meetings, offer suggestions, review care plan documents and accept or refuse offered care.”…
Fighting for pay equality at work
” California law prohibits an employer from paying any of its employees at wage rates less than the rates paid to employees of the opposite sex for substantially similar work,…
Senior loses job and converts chapter 13 to chapter 7
Fights to keep house “Nowadays, the correct value of the residence is critical to keeping the house safe from the clutches of the Chapter 7 trustee, because house values are…
Should you deplete all your savings to pay debts?
Like most people, you’ve worked hard and have done your best to pay all your bills on time. But in life, at one time or another, all of us get…
Do you owe taxes and cannot pay now?
The IRS announced a major expansion of its “Fresh Start” initiative to help struggling taxpayers by providing: • Payment plans – more taxpayers can apply without financial statements. • Offer…
The problem with family caregiving
” It is a wonderful thing that we and try to keep our parents, grandparents, and other family members at home as long as possible. When my grandfather had a…
Can we videotape police activity in public?
“The new California law clearly states that a person who takes a photograph or makes an audio or video recording of a police officer (or any public officer), while the…
Penalties for noncompliant US citizens residing abroad
If you are a U.S. citizen (or dual citizen) residing outside the U.S. but do not report your foreign accounts, you may be subject to harsh penalties—penalties that are more…
Clients choose Chapter 13 to avoid risk of losing house
Senior wants to wipe out $22k credit card debt “The chance of winning power ball is 1 in 292 million. You have a better chance of getting hit by lightning,…
When an unpaid credit card debt turns into a lawsuit
Have your credit card debts become so large that you can’t even afford the minimum payments? Or perhaps you’re already behind and your accounts have been turned over to collections?…
Homeowner files last minute Chapter 13 without credit counseling
Senior files chp 7 to discharge $35k credit cards CLIENT is 59 and single. He has a decent job where he makes $4K a month gross. He doesn’t owe any…
Finding sources of compensation for the seriously injured
FIVE year-old Jane Fine* was walking along the sidewalk on Green Street with her parents, trying to peer into the shops which displayed brightly colored toys. The Fine family was…
10 strategies at appeals
YOUR case was closed unagreed and have decided to bring your case before the appeals office of the IRS. You have learned the basics of the appeals process and how…
Do you have too much debt that you can’t plan for the future?
ARE you worried about your future due to having too much debt? You’ve probably heard the saying, “The failure to plan is a plan to fail”. And yet so many…
Prof. Eric Soriano to conduct Franchising and Business Opportunities Forum at Fiesta in America
Should I buy a condominium unit in the Philippines? What investment opportunities are there? What brands should I consider if I want to franchise? Is a condo unit a more…
When is the right time to appeal?
IF you do not agree of the IRS results of examination, your options are: request a meeting or telephone conference. If after the meeting or conference you still do not…
Homeowner files last minute Chapter 13 without credit counseling 13 as load mod is denied
Senior files Chp 7 to discharge $35K credit cards CLIENT is 59 and single. He has a decent job where he makes $4K a month gross. He doesn’t owe any…
Home health aides and other household employees are entitled to overtime
Q: I AM a registered nurse in the Philippines but I have not yet obtained a license in California. However, I am working as a ‘private nurse’ to a bed-ridden…
10 Tips to prepare for IRS appeals conference
YOU are still upset from losing an IRS audit. You can either pay or fight. If you choose peace and quiet—pay. If you choose to fight—go to appeals. Let me…
Financial stress can affect your health, experts say
ARE your debt problems keeping you up at night? Stressed out and worried about your financial future? According to a recent article written by a doctor, this can affect your…