Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
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 was released to go back to work, my employer told me that my position was no longer available. Since I work for a fairly large…
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 situations and other factors. Let’s explore choices to help you determine which title is best for your next property. Joint Tenancy: • Any number of…
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 your mind as you contemplate your next move. Is bankruptcy the right thing to do or will it make my situation worse? Will I lose…
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 a timing belt, some have a timing chain which does not need to be changed. A timing belt on the other hand is basically a…
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 they emerge during young adulthood, when a person has a little more wisdom. But why do we wait until the late teenage years to address…
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 liabilities. The IRS has just proposed regulations which, for the first time, provide relief if present collection activities create economic hardships. Previously, the IRS could…
Q: I WORK as an on-call employee for a healthcare facility. My employer often calls me to report for duty but when I arrive to work, my assignment is cancelled and I am sent home. This has happened several times and I was not paid for a single canceled work even though they scheduled it…
THIS week, the truth of this statement struck a chord with a prospective client who came to me for debt help. Keep reading as this may be the most important article you’ve ever read. Prospective client is seriously in debt, something in the neighborhood of $80,000, mostly credit cards. She is a single mother with…
TWO different clients both landlords because they both own rental properties came to see me last week with different problems. The conventional wisdom why people buy rental properties has two points. First, the rental properties will provide a steady stream of monthly income to the landlord. Second, the value of the properties will eventually rise,…
ON June 30, 2015, the California Governor signed into law designating October 25 every year from hereon as Larry Itliong Day. Who is Larry Itliong and why does he matter? NPR says, “Cesar Chavez inspired the world. Larry Itliong inspired Cesar Chavez.” Cesar Chavez, the labor rights activist to whom Cesar Chavez Day is dedicated,…
AN offer in compromise (OIC) allows you to settle assessments for tax, penalties, and interests at less than the assessed amounts. You can apply for an OIC if there is doubt as to liability or as to collectibility. The bases of an OIC are discussed in our other newsletters. Let me give you 12 tips…
CREDIT cards can be convenient and handy especially in times of financial emergencies but when the accumulated debt gets out of control, it can lead to long-term financial stress. Some people seem to be OK just making minimum payments for a while but unless they stop borrowing, they get to a point where the payments…
INJURIES always seem to happen when we least expect them. Picture yourself at an outdoor gathering, having fun, when suddenly a crying child runs up to you, knocked-out tooth in hand. Would you know what to do? Dental first aid saves teeth Knocking out or fracturing a tooth is especially distressing—just thinking about it can…
Abandoned wife files chapter 7 to discharge collection lawsuits for $20K Client no. 1 IS it even legally possible that your social security benefits can be garnished? If creditors can get your social security income when you retire, how can you have peace of mind when you retire? To be sure, not every kind of creditor…
IT is illegal to harass a worker because of that person’s race or sex. Racial harassment may be verbal or physical conduct targeting the worker’s race, skin color, or national origin. Sexual harassment includes unwelcome sexual advances, requests for sexual favors, or offensive remarks about a person’s sex. Both types of harassment are illegal, particularly…
IF you fail to file on time or pay on time, penalties kick in. Here are 10 reasonable causes to abate (forgive) penalties for late filing or late paying: 1. Tax returns were mailed on time. A return used to be considered filed on time if it is postmarked on or before the due date. …
ARE you being harassed by your creditors day and night due to unpaid bills? If you are, you know that this is a pretty unpleasant experience. You may feel scared, angry or embarrassed about your situation. The prospect of debt relief through bankruptcy may sound appealing to you but you are not quite sure if…
“ You owe it to yourself and your family to put yourself in firm financial footing now for future prosperity by getting rid of accumulated debt now.” Client 1: Garment factory CLIENT presents himself as a businessperson, who has been in the garment business since 2002. He has a factory with ten employees where he…
Q: I AM a single mom and I have worked for this company for several years. Recently, while talking with another newly hired male co-worker whose responsibilities are similar to mine, I discovered he was making as much as 50 cents more per hour than I am. I asked my branch manager why the difference…
IF you have not filed your income tax returns by the end of March, chances are you do not expect a refund, your tax records are a mess, or you simply do not want to break tradition. Just remember that filing extensions is not exactly a nice habit. Besides prolonging your worries, it also extends…
I HEAR this all the time. People who are in debt are barely making it by living paycheck to paycheck so how can they even think about saving for the future? Are you in this situation right now? If so, you need to do something about it or you will never be able to get…
HAVE you ever wondered why it’s so important to see us every six months? From oral health maintenance to serious disease prevention, there are a lot of reasons to keep your semi-annual visits on your calendar. Open wide and say “aahhh” So what do we look for when we examine your pearly whites? During typical checkups we examine the overall…
Don’t top off. Don’t bother topping off when filling your car’s gas tank. Any additional gas is just going to slop around or seep out. Why waste your money paying for gas your car won’t use? Stop pumping at the first indication that your tank is full when the automatic nozzle clicks off. Tighten up…
SANTA ANITA—Makeup lovers rejoice: NYX Cosmetics opened its first-ever flagship retail store at the Westfield Santa Anita on Friday, Oct. 2. The vibrantly designed and high-tech store features over 2,000 products on its walls to satisfy the aesthetic needs of the new generation of makeup lovers. From foundations, lipsticks, eyebrow tools, nail polishes and more,…
SOMETIMES debtors cannot decide whether they should seek debt relief through Chapter 7 wipe out of all dischargeable debts or personal reorganization through Chapter 13, or business reorganization though Chapter 11. All of these methods get rid of unwanted and burdensome debt while allowing debtors to keep most if not all of their assets. Thus,…
Granting medical leave may not be enough LAURALYN Swanson is a highly accomplished elementary school teacher with over 30 years’ experience teaching kindergarten through sixth grade. She has a master’s degree in curriculum and instruction, and holds several teaching credentials and certifications. In August 2006, the Morongo Unified School District (School District) hired Swanson as…
THE Treasury Inspector General for Tax Administration (TIGTA, an agency that oversees the IRS) instructed the IRS to expand audits to prior and subsequent years. This means that if IRS audits your income tax return for 2013, they must expand the audit to your 2012 and 2014 as well. Ouch! The Treasury Department conducted its…
IF you are struggling with debt problems and are starting to feel hopeless about your situation because you are not getting anywhere in spite of your efforts, at what point do you consider filing bankruptcy as an option? Bankruptcy scares a lot of people and that’s understandable because everything they’ve heard about it from friends,…
Senior protects house from $100K judgment lien with Chapter 7 Chapter 20 NEVER heard of Chapter 20? That’s because in the Central District of California, most courts don’t allow Chapter 20, except in Riverside. Riverside bankruptcy court allows Chapter 20. What is Chapter 20? First, you do a Chapter 7 to discharge your debts. Then…
Q: AS a mobile technician, I travel to patients to obtain laboratory specimens. I drive the company vehicle, which I garage at my home, to do my job. I cannot use the vehicle to run personal errands while working. I cannot even use it to drop off my child at school. My employer pays me…
