IRS seeks to dismiss client’s chapter 13
Client with good income wants chapter 7 to discharge $70K credit cards NO one has anything good to say about the IRS. Tax collectors were much hated even during the time…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
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Misclassification of workers is a form of wage theft
THIS column has often stressed the general rule that most employees should be paid overtime rate if they work more than 8 hours per day or 40 hours per week….
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. If you qualify, it could be worth up to $6,143 this…
Bankruptcy: leave your debt troubles behind in 2015
FILING Bankruptcy is a serious decision for most people. Most don’t have a clue about how the process works until they actually consult with an attorney. Confusion often results from…
Single mom with conditional loan modification seeks chapter 13 relief to stop foreclosure
CLIENT is 53. She has two sons who are just entering college. She divorced ten years ago. Ex-husband does not pay spousal or child support but left her with the…
Online shoppers beware: Advertised prices may be different from what you’re paying
IN February 2011, Michael Rodman signed up on Safeway.com to buy his groceries online and have them delivered to his home for an additional delivery fee and fuel surcharge. After…
10 tips on excluding gain from the sale of your home
• AMOUNT of exclusion. When you have gain from the sale of your home, you may be able to exclude up to $250,000 of the gain from your income. The…
4 ways to get out of debt
WHEN people are going through financial difficulty and are unable to pay their bills, their first reaction is often to ignore their debts and avoid contact with creditors. They think…
I owe the IRS – what can I do?
HERE 10 tips if you owe but cannot immediately pay the IRS: • Pay What You Can: Pay promptly to stop additional penalties and interest from accruing. If you are…
Considerations for dental patients with special needs
FOR both children and adults with special needs, dental care can be challenging. In some cases, limited coordination can make brushing and flossing tricky. In other cases there may be…
Clients with long pending loan modifications that do not stop foreclosure resort to Chapter 13
“ Chapter 13 does not exclude or kill the loan modification process. In fact, Chapter 13 enhances debtor’s chances of successfully resolving her claim of fraud with the bank. Under…
Can your employer fire you if you are not ‘100% healthy to work’?
RAYMOND Adame was a machine mechanic for Alcoa Fastening Systems and has worked there for more than 30 years. He was seriously injured at work and had to take a…
Do you feel like you’re stuck in debt forever?
A LOT of people who consult with me about their debt problems are going through the worst time of their lives. Unlike other problems in life that sometimes just go…
Clients with very large default on mortgage seek to save house by Chapter 13
Practically everyone knows that the good times of loan modification are going to end next year. Loan modifications under HAMP are set to expire December 31, 2016 after several extensions….
When should ‘commute time’ for work be paid?
It is common for field workers like service technicians to drive company vehicles to the customer’s home or place of business to service or install a product. Generally, an employee’s…
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….
What to do before debt problems ruin your life
Are you facing a mountain of debt and don’t know what to do in order to avoid getting buried? Debt problems can wreak havoc on your personal life in many…
5 Great Reasons to Invest in Tagaytay Highlands. Now.
Tagaytay City, Philippines — Dubbed as the City of Character where food and nature are at its best, Tagaytay has long dominated the preference for a weekend getaway. For many…
Hard evidence required to prove dissipation of assets
Senior seeks Chapter 7 relief for $5K debt “ Don’t throw away your hard evidence. Gather them and compile them into an easily readable format so that in case you…
Arbitration agreements: should employees give up their rights to their day in court?
Q: I RECENTLY heard from a friend who sued her employer for unpaid wages. However, the court threw out her case and she had to go to “arbitration.” She said…
Community property with right of survivorship
MARRIED couples buying property are asked to decide how they should hold title: • Joint tenancy or • Community property. Basically, it is a choice between the ease of transfer…
When debt problems cause marriage problems
EVERY day, I meet with couples who are deeply in debt. In a lot of cases, I can feel the stress level that they are experiencing while the couple is…
2016 tax planning strategies for individuals
FOR 2015 INCOME TAX RETURN IT’S the last quarter of 2015 and in a few months during income tax season, you would want to minimize any income tax dues as…
Client seeks to remove judgment liens on residence
Senior seeks discharge of $40K credit card debt CLIENT no. 1 is 55 years old. She is now divorced and living by herself. The divorce judgment gave her the marital…
Disabled employee is entitled to ‘reasonable accommodation’
Q: I HAD to take a few weeks of medical leave from work because I had to undergo a heart procedure. I gave my employer my doctors’ notes. When I…
How should you hold title to real estate?
WHEN buying real estate, there is always that inevitable question: how do you hold title? Remember that your choice can have dramatic impact on estate taxes, liability protection, heirs, family…
Bankruptcy can provide immediate debt relief when you need it
IF you are facing the prospect of filing bankruptcy for the first time in your life, this could be a frightening process. You probably have a thousand questions going through…
Car maintenance tips
If you are after some car maintenance tips then this article is going to be extremely helpful to you. We will start with the timing belt. Not every car has…
Wisdom teeth: Why do we have them?
WHEN dentists see emerging wisdom teeth are going to cause dental problems, wisdom tooth removal is likely in the cards. Wisdom teeth–also known as the third molars–received their nickname because…
Economic hardship for offer in compromise (OIC)
MEDIA coverage on IRS abuses and subsequent tax laws put pressure on the Service to revamp the Offer in Compromise (OIC) program for taxpayers who could not pay their tax…