Should you direct deposit your IRS refund?

YES, of course. Direct deposit is the fastest and safest way to receive your tax refund. Here are reasons why you should use direct deposit of your refund: 1. Speed: When you combine direct deposit with e-file, you can receive your refund in as little as 10 to 14 days. 2. Security: The IRS holds…

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Can bankruptcy really solve your debt problems?

ARE you having problems paying your debts? Are creditors calling you day and night threatening you with a wage garnishment, repossession or foreclosure? Are you starting to feel hopeless and depressed about your situation and don’t know where to turn for help? The last few years have been tough for a lot of people. You…

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Common misconceptions about dental health

DURING medieval times, people believed they could cure a toothache by driving a nail into an oak tree. Silly, right? Today’s misconceptions are different There are still some crazy ideas out there about teeth — ideas that have very little to do with the facts. Have you ever fallen for one or more of these…

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10 tips on child/dependent care

IF you paid someone to care for your child, spouse, or dependent, you may be able to claim the Child and Dependent Care Credit on your federal income tax return. Here are 10 tips on claiming a credit for child and dependent care expenses. • The expense for child and dependent care must be provided…

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Estate planning done right

In our Filipino community, there seems to be a reluctance to engage in comprehensive estate planning through the execution of living trusts, wills, and powers of attorney.  Instead, many families have traditionally relied on adding the children and other chosen heirs on the home’s title as joint tenants. This is not a smart solution.  Joint…

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Business owner files chapter 7 as losses mount

Young client seeks chapter 7 relief for $$70K credit card debt   Business owner files chapter 7 as losses mount CLIENTS are spouses who own and run a business together. They own an S-corporation that has been in business for 20 years. They have 10 employees. An S-corporation, as distinguished from a C-corporation, is one…

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12 ways to avoid an IRS audit

1. DO not boast about how you got away with undeclared income or manufactured deductions. Ever heard of whistleblowers? They earn rewards of 15% to 30% of your assessments. If you have a tendency to be creative, keep it to yourself. Just shut up. Better yet, stop being creative. Remember the law of averages. Remember…

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Why bankruptcy may not be as bad as you think

SLEEPLESS nights. Stressed out. Worried about the future. Always broke. This is what most people are going through when they are considering bankruptcy in order to get out of debt.  The word “bankruptcy” often produces negative feelings because some people equate it with failure. But nothing can be further from the truth. Bankruptcy is not…

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Business owner files chapter 7 as losses mount

Young client seeks chapter 7 relief  for $$70K credit card debt Business owner files chapter 7 as losses mount CLIENTS are spouses who own and run a business together. They own an S-corporation that has been in business for 20 years. They have 10 employees. An S-corporation, as distinguished from a C-corporation, is one where…

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When should employees challenge their ‘salaried’ and no-overtime status?

ZELMA Brawner worked for Bank of America (BOA) for about 28 years, occupying the positions of “Dedicated Service Director” later renamed “Treasury Services Consultant,” and “Treasury Services Senior Advisor” for the last 13 years of her tenure.  Brawner claimed that throughout her work as a “director,” “consultant” and “advisor,” her employer classified her and about…

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Do you qualify for earned income credit?

HERE are the top 10 things the Internal Revenue Service wants you to know about this valuable credit: 1. EITC not only reduces the federal tax you owe, but could result in a refund. 2. The amount of your EITC is based on the amount of your earned income and whether or not there are…

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Worried about IRS tax problems?

IRS problems have a way of ruining all aspects of your life. They can take a toll on you financially, emotionally and physically. When you owe the IRS, you’re always wondering if today might be the day when the IRS shows up at work, your home or your business; or if today might be the…

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Filipino develops app to simply fitness and health

It’s well into the second month of the year — how many individuals have ditched their New Year’s resolutions to get healthy and shed some pounds? But if you’ve stuck to your word or are looking for another way to stay active, there’s a new app for that. Nikko Mendoza, a 30-year-old Filipino from Fairfield,…

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The makings of a successful Chinese entrepreneur

THE overseas Chinese or hua-chiao is a term commonly used for the Chinese in Southeast Asia. In a broad sense, overseas Chinese refers to all Chinese who have left their home in China to live and work abroad. The Chinese migration to Southeast Asia, particularly those who arrived between the 18th century and mid-20th century…

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Should married couples file separately?

OF course not. Why should I pay taxes based on the highest tax rates? The lowest rates belong to joint filers and widows, followed by heads of household and single taxpayers. Certainly, it does not make sense to file married filing separate and pay those sky-high rates. Or does it? Let’s discuss the advantages and…

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Credit card debt trap: How to come out alive

DO you have sleepless nights worrying about your credit card debts?  Are you feeling hopelessly trapped with no way out? If you are up to your eyeballs in credit card debt and have no way of paying back what you had borrowed, a lot of things may be going through your mind at the moment. …

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Inspiring Filipino-Chinese entrepreneurs

Many attempts have been made to profile the Asian Entrepreneur. But I found an easier way to spot them—just check their family name. The fact is enterprises and entrepreneurship in the Asian context is usually tied up with kin or family. In the Philippines, the term “Asian entrepreneur” has not been around for long but…

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Debt relief attorney Ray Bulaon opens Los Angeles office

ATTORNEY Ray Bulaon, known as “the Filipino Community’s Debt Relief Expert”, has opened a fourth office location in Los Angeles in order to be more accessible to all clients in the area including the Historic Filipinotown.   Attorney Bulaon helps clients take control over their overwhelming debt problems so that they can recover quickly and rebuild…

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Police use of excessive force violates civil rights

THE use of unreasonable or excessive force by police are in the news now more than ever.  Many thought after the Rodney King incident, this issue will never arise again. But several recent police encounters have become high profile because of the tragic endings to civilians – some became permanently injured, others lost their lives….

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