Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
CHILD Tax Credit allows you to reduce your federal income tax by a maximum amount of $1,000 for each qualifying child through age 16. A qualifying child is someone who meets the following criteria: – Age – child is 16 or younger at the end of the year. – Relationship – child is your son,…
Spouses need to be joint debtors from start of case “ It’s safer for the late filing spouse to file her own case so both cases will succeed. But with two cases, you will pay attorney and filing fees twice. So spouses should decide early on whether they will file a joint case or not.”…
SHOULD you attend an IRS audit? Yes, I mean, you – your own audit. Well, you don’t have to. This is always a strategic question that should be discussed at the planning stage of an audit. Of course, you do not want to go. Of course, I do not want you to go either. So…
Why workers should fight for employee status “UBER driver deemed employee by Labor Commissioner” is a headline. Why should this matter? Because employees receive more, in terms of pay, and in terms of legal protection than independent contractors. Employees, for instance, are reimbursed for expenses they incurred in performing their work. The driver’s claims against…
Senior needs chapter 13 to handle IRS and unsecured debt of $40K Client No. 1 CLIENT is 57. When he comes to see me, he tells me that he has just spent two years in jail and is now on probation for involuntary manslaughter, which means he was convicted of having killed someone by accident. He…
YOU have just lost an audit 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 to prepare for the conference from previous articles. Let me now give you 10 strategies as you face the Appeals Officer: 1. Respect the…
CUSTOMERS give tips in appreciation for the service of waiters, bellboys, hotel maids, valets, drivers, and even performers who sing and dance. Can employers demand a share of these tips from their employees? Quincece Hills, a topless and nude dancer at the City of Industry nightclub, Paradise Showgirls, sued the nightclub and its owners, alleging…
NO one ever wants face a debt crisis but at one time or another in your life, you may have to deal with one. Having debt problems does not make you a bad person although some people feel a sense of guilt as they feel responsible for the decision that they have made that led…
Did you know that email is the number 1 digital platform to generate qualified leads? For some, you might associate email with unwanted spam. Nobody wants unsolicited mail just like nobody wants unsolicited phone calls. However, if you have ever bought anything online and started receiving emails, chances are you are interested in what they…
NILDA MCKELLAR celebrated her birthday with a fun feast shared by friends and family at the Palms Hotel & Casino last Friday, June 5. McKellar, a zealous activist, passionate philanthropist and efficient entrepreneur, is considered a pillar in the Las Vegas Filipino-American community where she founded several organizations including the Philippine International Association of Nevada…
Good samaritan client seeks to discharge $2o,ooo lawsuit; Senior seeks solution for wrongful death $1.0M lawsuit “ Only 10% of California foreclosures are judicial. 90% of foreclosures are extrajudicial where there is no lawsuit and no court judgment is involved. Extra-judicially involves only a notice of default that is recorded with the county recorder’s office,…
THERE are three basic types of audits: correspondence, office, and field examinations. Correspondence audits are the simplest ones – W2s, 1099s and other items that can be easily resolved by mail. Office audits are more complicated and involve small businesses and individuals with difficult issues. The exams are conducted at the IRS offices (not your…
Q: MY employer has been sued in a class action by another employee who is trying to collect unpaid wages. All the employees, including me, received a Notice from an Administrator saying that the attorneys who filed the class action want to obtain my name and contact information because I might be a member of…
AS we go through life, we are likely to encounter several bumps along the way. This is especially true when it comes to our finances. I’m sure you’ve heard of people who have had overnight successes. But sometimes just as quickly, the financial responsibilities that often come with the success can quickly overwhelm the unprepared. …
HAVE you wondered what the numbers mean that a hygienist calls out while examining your gums? They’re readings of the gum pocket depths in your mouth, and they’re an important part of monitoring your gum health. Pocket readings help us measure inflammation Pocket depth refers to your gums’ attachment to your teeth. If there’s an infection in your gums,…
• CHECK your fluids and perform regular maintenance. • Confirm proper tire pressure to avoid a blowout and improve fuel economy. • Keep yourself cool with a/c and your vehicle cool by parking in the shade. The arrival of summer marks an ideal time to make sure your car or truck is in good working…
Court allows postpetition creditor client to deny discharge of debtor Client No. 1 CLIENT is 74. She was married to her husband for 30 years. Husband was a lot older than her when they got married but it was a fairytale marriage. Husband was a good man who loved her so. They met each other…
Court allows postpetition creditor client to deny discharge of debtor Client No. 1 CLIENT is 74. She was married to her husband for 30 years. Husband was a lot older than her when they got married but it was a fairytale marriage. Husband was a good man who loved her so. They met each other…
IF you run your own business, consider employing your children this summer vacation. Employing your children gives you a triple benefit: 1. It teaches your children the virtue of work and the value of money. 2. It could save you taxes by shifting income down from your rate of about 33 percent to 39 percent …
Q. I WANT to file a wage claim against my employer for unpaid overtime hours and missed breaks. Some of my fellow employees, who also have unpaid overtime and missed breaks, want to file with me but they are afraid of being fired if they complain. Is there a way that I can claim wages…
ARE your finances stressing you out? For a lot of people, financial concerns can be their number one cause of stress. We are living in difficult financial times and a lot of people are worried about how they can get by from month to month. But worrying doesn’t really solve anything. If you feel that…
One seeks to discharge $20K and another $30K WE all go through different stages in life. When you are in your twenties, your whole life is ahead of you. You may be starting a family or starting your career or profession. You’re buying your starter home. If you have children, your whole life is centered…
WE do get tax benefits from our little rasca… lovable adorable children: • Dependency exemption: A child can be claimed as a dependent starting from the year they are born. That’s a deduction of $3,950 for 2014. • Child and Dependent Care Credit: You may be able to claim the credit if you pay someone…
BETWEEN 2005 and 2013, Sheri Garibaldi worked as a part-time teller for Bank of America (BOA), in its branches in Belmont and Foster, California. Garibaldi was classified as a “20 hour” part-time employee, although she was regularly scheduled to work more than 20 hours per week. As part of her wages, Garibaldi received paid time…
IF you’re like most people, making money and thinking about money takes up a significant amount of your time. In the world that we live in, money is an important issue in our lives. Having enough of it gives us peace of mind knowing that we can provide for our families. On the other hand,…
Retired military files Chapter 7 for $40K credit cards; Client uses Chapter 13 for HOA default Client No. 1 CLIENT is 52 years old with a son in college. She is an R-Nurse with annual gross income of $80K. She comes to see me with a person I thought was her husband. But apparently is…
Do you constantly scratch your head thinking, “Wow I really do not understand young people these days.” Do you look at kids and wonder why they can’t go anywhere without their phones? I would like to think it wasn’t that long ago when I was one of those young people that was misunderstood. The truth…
Client No. 1 CLIENT is 52 years old with a son in college. She is an R-Nurse with annual gross income of $80K. She comes to see me with a person I thought was her husband. But apparently is not. He could be a potential suitor. Client is slim and has maintained herself well and…
WE often hear about women being denied a job, a promotion, or higher pay because the employer preferred to give the job, promotion or more money to a man. In the Los Angeles Police Department’s (LAPD) an opposite scenario unfolded. Peter Bakotich, Michael Fanning and Debbie Guerrero worked as senior detectives assigned to LAPD’s Fugitive…
CHRIS Cerbone was hired as a head football coach and physical education teacher at a private high school in the summer of 2012. According to news outlets, sometime in December 2012, Cerbone heard that varsity football players were hazing freshman players in the school locker room. The older players were allegedly exposing their genitals to…
