Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
EVERYDAY, 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 in my office. Emotions often run high and you can feel the tension in the air. There can be a lot of finger-pointing, resentment, anger, etc….
While medications are designed to make us feel better, in some cases their side effects can instigate a second, completely different, problem. That’s why dentists encourage patients to “open up,” in more ways than one! If you have medical conditions, or if you are taking any medications, please make sure we’re aware of them at…
Client seeks to discharge $200k of taxes CLIENT is an investment & financial broker who advises people how to invest their retirement accounts. He is now 60 years old. During the heyday of the stock market boom before it’s collapse in 2007, client made a lot of money. Year after year, he was making between…
Affordable Care Act (ACA – ObamaCare) THE Individual Shared Responsibility provision of ObamaCare requires taxpayers to either: • Have qualifying health care coverage, • Qualify for an exemption, or • Make a payment. 1. Qualifying Health Coverage: • Qualifying coverage (minimum essential coverage) includes coverage from employers, Medicare, Medicaid, CHIP, and Health Insurance Marketplace. •…
MARIA Nucci slipped and fell at a Target store in Palm Beach, Florida. She sued Target for personal injury, claiming, among other things, that she has become physically handicapped experiencing emotional pain and suffering, that she lost the ability to earn money, and that she will continue to suffer losses and impairment in the future….
MOST people are unaware that credit card companies will negotiate with you if they believe that it is in their best interests to do so. Many times you can negotiate a reduction of your interest rate, elimination of late charges and annual membership fees. If you are delinquent in payments, they may even agree to…
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 less access to professional care. Some patients may experience high anxiety levels too. Medications that lead to dry mouth can also contribute to dental care challenges. But…
“About a week after arriving in the Philippines, I happened to wake up one day at 7 o’clock in the morning. My father got angry and he scolded me. As a newcomer in the country, he said, I had to work harder than the people here. “You cannot wake up at 7 o’clock. You must…
Single client seeks BK relief CLIENT is 48 years old, single and works as a licensed vocational nurse. She used to gross $75K a year with two jobs but recently lost the 2nd job, which used to pay her $24K a year. She owes $80K of credit card debt, which requires a minimum of $2,400…
* * * Sy Al-os Accountancy Corporation provides accounting and tax services to individuals, corporations, LLCs and business entities. The Firm has a niche in defending taxpayers audited by the IRS and other governmental agencies. The firm celebrates its 38th anniversary in 2015. * * * Victor Santos Sy graduated Cum Laude from UE…
MYRA Becraft was a full-time staff psychiatrist for the California Department of Corrections and Rehabilitation at its facility in San Diego. According to the Daily Journal, Ms. Becraft sued her employer for wrongful termination based on disability discrimination. She alleged that her workload increased so dramatically that by 2011, she had to take several leaves…
DO you want to get out of debt but are afraid that filing bankruptcy may only make things worse for you? Facing difficult financial times can be a frightening thing for a lot of people. When bill collectors are calling day and night, at some point, you realize that something must be done but you…
Senior raids retirement account CLIENT is 65 and still works as a registered nurse with $70K annual gross. She divorced 5 years ago. At that time, there was community property credit card debt of $60K. By divorce judgment ex-husband was to pay half, but never did. Client made monthly payments of $1900 for the last…
(Part 3 of 3) MATERNITY Leave: State universities may not require female graduate students to take leaves of absence for pregnancies and must allow those who do take leaves to return in good standing. Military Personnel: Courts may create a diversion program for active military personnel or veterans who commit misdemeanors and are suffering from…
Stopping those pesky communications THE telephone is one of mankind’s most remarkable inventions. It has allowed people in distant locations to connect within seconds. But like most inventions, it can be a tool for abusive practices. With the invention of cellular phones, the list of communication benefits multiplied. So did the list of complaints about…
IF YOU’RE one of the many people who got approved for loan modification many years ago under the HAMP Program, chances are that you obtained a low interest rate of 2% for 5 years and then your interest rate is set to increase after that time period. Other homeowners either did not qualify under HAMP…
It’s the New Year and if you’re like most, you’re thinking about what your resolutions will be this year. You might be thinking of getting into shape and losing some of the belly weight. Or you are thinking about taking a long awaited trip back to the Philippines. Perhaps you are thinking of new ways…
I’VE been asked this question a few times lately so I decided to write an article on it. If you have filed bankruptcy before, you may be wondering whether it’s possible to do it again. Generally, the answer is that you can file bankruptcy as often as needed BUT subject to some limitations such as…
WE previously wrote an article about guards who worked at CPS Security Solutions, Inc. CPS provides “trailer guards” for construction sites in California. The guards spend the night at their jobsites in residential-type trailers. They are instructed to investigate alarms and to prevent vandalism and theft. The guards were asked to sign an On-Call Agreement…
(Part 2 of 3) FRACKING Bans. California’s Mendocino and San Benito counties passed measures banning fracking, a practice in which high-pressure liquid is shot through a drill hole in the earth as a means of getting at oil or natural gas. Gardens: Landlords may not prevent residents of condominiums and apartments from growing their own fruits…
Chapter 13 discharge of $330K judgment CLIENTS are young seniors in their early sixties who have good income at $200K annually. Both husband and wife are in the medical field. Thinking that house values would keep escalating in 2007, they invested in an expensive house, which required them to have a second trust deed of…
TONGUES are remarkable engineering wonders. They help us nourish ourselves and clean our teeth. They’re a vital part of our oral and whole body health. How do we keep them clean and healthy? Brush your tongue daily Your tongue hosts up to 10,000 taste buds. It also harbors billions of bacterium. That oral bacteria can contribute to tooth decay, gum…
“In a family business, it’s the third generation that presents the big problems. The first generation founds the company and has the drive and the dedication to move it forward. The second generation rides that wave. The third generation wants to do their own thing. They’ve seen Broadway; they’ve had all the advantages. Gale Petronis…
Statute of limitations CLIENT says that he owed about $50,000 of credit cards, which he stopped paying in 2007. But last month, he received a copy of a judgment for $21,000 for one credit card. I looked at the judgment, and it says that the judgment was entered on July 12, 2013. He says that…
(Part 1 of 3) BAN on Plastic Bags: New law requires that supermarkets and large pharmacies stop distributing plastic bags effective July 1, 2015. The ban will include convenience stores in 2016. The law does not apply to bags used for fruits, vegetables, or meats. Bike Trails: Local agencies, including cities and park districts, may propose…
CLASSIFYING workers as ‘independent contractors’ (ICs) allows businesses to pass on the costs of running the business to workers. This ploy, however, did not fool the federal Court of Appeal when it ruled against FedEx Ground Package System, Inc. (FedEx) in one of the most important cases to come out last year concerning the correct…
ARE you struggling with debt problems and don’t know what to do? Are you unable to sleep at night worrying about your finances? Has the idea of filing for bankruptcy crossed your mind but you’re not sure if this is the right thing to do? Relax. Most people in your situation feel the same way….
Overcome your fears: Make your dream family business real this year! IT sounds and feels great to be born in a family that owns a business. If you are born in a family that successfully owns a family business, you would know that despite the hardships it entails, there is pride, honor and a relatively…
“ Be careful when having your residence deeded to a living trust. Upon death, if the A/B trust splits into a trust (Survivor’s Trust A) and an irrevocable trust (Bypass Trust A), there could be tax consequences. If the residence is assigned to the irrevocable trust, the exclusion is lost. That may not be a…
THE year 2014 has been an interesting time for employment law with the legislature and the courts defining additional protections to employees. The following are some of the laws that may interest our readers: New minimum wage laws took effect in July 1, 2014 Effective July 1, 2014, California’s minimum wage was raised from $8…
