The ‘secret’ fear that comes with being in debt
I KNOW we’ve never met. But there’s a common fear everyone shares when they’re in drowning in debt. As a debt relief attorney, I hear it from people who consult…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
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Business with $2.1M judgment against it seeks Chapter 11 relief
Senior with $24K debt seeks Chapter 7 relief; Senior protects house with Chapter 13 Chapter 11 CLIENT presents himself as an importer & nationwide distributor of electronic items with gross annual…
Can employer legally fire employee for exceeding pregnancy leave?
Q: I work for a large company and recently took a leave of absence due to pregnancy disability. My pregnancy was high-risk and I used up all of my 4…
Guaranteed installment agreement with the IRS
TOO good to be true? Perhaps, but read on. The IRS cannot deny your application if you satisfy all of the following requirements: 1. The tax is not more than…
Bankruptcy: Should you file now or later?
INDIVIDUALS who have accumulated excessive debt are often left to ponder whether they should file bankruptcy in order to get out of debt. Sometimes, these people feel that somehow, they’ve…
The power of direct marketing
Have you ever received an email, a flier on your car, shopping catalogues in the mail, a promotional letter from your cable provider, or have seen television commercials, banner ads,…
Signs of a company headed toward failure and important ways to fix the problems
SOMETIMES companies get into financial trouble. They have leadership issues, they have failures by suppliers, and they have cash flow problems. Companies have a lot of problems, often every day….
More protections for ‘temps’ and subcontracted employees
Q: I WORK at UX Corp, a big national processing plant. However, I am employed by ABC Agency, a subcontractor of UX Corp. ABC Agency pays my wages. We often…
Are your debt problems causing you anxiety?
BEING in debt can be one of the most stressful situations you will ever face in life. It happens to everyone although you may feel like you’re the only person…
Audit update: Schedule C income from business or profession
IRS audits have been dominated by examination of Schedule C for taxpayers who conduct their businesses as sole proprietors (instead of corporation or LLC). This includes professionals, technicians, and independent…
Senior with little income but large home equity seeks Chapter 13 relief
“There are special laws that allow middle class families to avoid paying thousands of dollars out of their pocket monthly for nursing home care, assisted living care and home care….
When immigrant workers are injured at work
National origin is not a bar to recovery Immigrants are a growing part of the labor force in the United States. According to the Bureau of Labor Statistics, in 2014,…
Statute of limitations 101: How long must you keep records?
How long do you have to keep tax records? How long can the IRS audit your tax returns? Let’s discuss 10 tips on statute of limitations so you can clean…
Bankruptcy: Is it the right decision for you?
Deciding if bankruptcy is right for you can be one of the most important decisions you’ll ever make in your life. As much as possible, most people try to avoid…
Clients seek Chapter 11 & 13 reorganizations
Client seeks Chapter 11 reorganization to save business; senior seeks Chapter 13 reorganization instead of reverse mortgage after two loan modification denials CLIENT NO. 1 is 58. Divorced and remarried. He…
Ex-lovers’ quarrel lead to disclosure of private medical information
Privacy suit filed against doctor and hospital Norma Lozano was a patient at UCLA Medical Center. According to the Daily Journal, she had been fighting with Dedreck Harris, her ex-boyfriend….
Frequently Asked Questions (Faq) #2 – Fbar 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…
You don’t have to remain stuck in debt forever
Life is all about making choices. The choices we make today determine our future. What will my life be like 3, 5 or 10 years for now? Will I be…
Two seniors rely on Chapter 13 to solve different financial problems
Get rid of your debts now and get a head start to live up to 120! CLIENT no. 1 Client is 65. She presents her financial problem thus. Both she…
Victoria’s Secret employees sue for payment of ‘call-in’ time (How to recognize & get paid for all ‘work time’)
Mayra Casas worked as a sales clerk for Victoria’s Secret in one of the company’s California stores. Casas claimed that she, and other employees, were required by the company to…
Frequently Asked Questions (Faq) #1 – Fbar filing requirements
New Foreign bank account rules were designed to combat money laundering, terrorism, and tax evasion. Unfortunately, folks like you and me get snared in the process. We get penalized if…
How to face debt problems before they get worse
The last few years have been financially difficult for a lot of people. When the real estate marked crashed a few years ago, millions of people found themselves with a…
Is $54K a year for children’s private school tuition grounds to dismiss Chapter 7?
SECTION 707 (b) of the bankruptcy code is the provision that allows the dismissal of a Chapter 7 case if there is a “presumption of abuse” of bankruptcy law. This…
Honest employees who do the right thing are protected from retaliation
ROBERT Wascher, M.D. began working as a cancer surgeon for Southern California Permanente Medical Group (“Kaiser”) in 2009. He was the only specialty-trained cancer surgeon for Kaiser’s 440,000 patients in…
The ABCs of foreign bank and financial accounts (FBAR)
IF you have offshore bank accounts, should you report the accounts to the U.S. government? Yes, if the aggregate balances exceed $10,000 at any time during the year. What if…
Can filing bankruptcy save your small business?
BANKRUPTCY is a bad word every business owner is working hard to avoid. And, yet, it’s also a tool given to entrepreneurs as an encouragement to take risks and be…
US Constitution guarantees right to bankruptcy for fresh start in life without pre-existing debt
Wildly succesful people who sought fresh start with bankruptcy ARTICLE I, Section 8, of the United States Constitution authorizes Congress to enact “uniform Laws on the subject of Bankruptcies.” Under this…
Accommodating injured employees at work
Employer’s failure may be disability discrimination PATRICIA Hancock was a warehouse worker for Time Warner Cable for 8 years in its Bellflower facility. Part of her job was to pull heavy…
10 tips to handle an IRS correspondence audit
THERE are three basic types of IRS audits: correspondence, office, and field examinations. Today’s topics are correspondence audits, the simplest of the three. Here are 10 tips for you: 1….
Get out of debt before this year is over
ARE you sick and tired of being in debt and having bad credit? Do you want to start over but simply don’t know where to begin? Is filing bankruptcy an…