Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
IF you are experiencing debt problems, you may find it difficult to talk to other people about it to the point that you are not getting the help that you need to find a solution. I understand. Debt is a very personal matter so most people don’t feel comfortable discussing it with anyone. Like most…
The holiday season is upon us and is my favorite time of the year! Not only do I get chance to catch up and have a feast with my family and friends, it’s also very busy at PCA with client planning for the upcoming year. I’ve covered many aspects of marketing in my previous columns…
Chapter 13 confirmed ON DEC. 17, the court approved my client’s Chapter 13 case in Riverside. In Riverside, the 341 meetings presided by the Chapter 13 trustee are held in the morning, and the confirmation hearing of the case before the judge is held at 1:30 PM of the same day. In Los Angeles, Woodland…
• Gambling winnings are always taxable and must be reported on your tax return – with or without form W-2G. • Gambling income includes winnings from lotteries, raffles, horse and dog races and casinos. It also includes the fair market value of prizes such as cars, houses, trips or other noncash prizes. • Complimentary goods…
A JURY in Santa Clara County recently issued a verdict of $16.5 million against an online dating website service for disseminating members’ private information to thousands of websites that members did not sign up for. The Complaint in federal court stated that Successfulmatch.com runs several websites that offer dating service to the public. To expand its…
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…
Are there holidays or special events coming up in your life? If so, chances are there are going to be lots of photos taken. Everyone has a camera now, right? Let’s visit about ways to help you prepare your smile. SOME people are just lucky. They seem to look fantastic in every photograph! Naturally photogenic. For…
IF YOU are thinking of a relative, friend or yourself who may possibly qualify for President Obama’s immigration amnesty, you are probably confused about how this immigration program works. This is not surprising because the President’s announcement only came out on November 21, 2014, barely two weeks ago. The President calls his immigration program “deferred…
(Frequently-Asked Questions on Gift Tax) IF I receive a gift, do I have to pay a gift tax? No. The donee (recipient) is not responsible for paying the gift tax. Who pays the gift tax? The donor (the person giving you the gift) is responsible for paying the gift tax. What is considered a gift?…
WE previously reported on a case of warehouse employees at Integrity Staffing Solutions, Inc., a company which provides warehouse space and staffing to Amazon.com, who sued their employer in a class action, alleging that they spent as much as 25 minutes per day of unpaid time going through required security screenings at the end of…
ARE your growing debts causing you sleepless nights? Are you trying hard to pay what you can every month but feel like you’re just running on a treadmill? Do you get that sick feeling in your stomach every time you realize that you have gotten yourself in more debt than you can actually pay back?…
CHAPTER 7 RELIEF FOR DIVORCED MOM Client is 48 years old and works as an accountant for a business. Her salary is $60,000 a month. Her marriage ended two years ago when she found out that her husband of 15 years had another family in another city. Husband had a 10-year old son with another…
(Part 2 of 2) “Don’t’ be Afraid To Hire Professionals” The Salim Group It is one of Indonesia’s biggest conglomerate with assets including Indofood Sukses Makmur, the world’s largest instant noodle producer, and Bogasari, a large flour-milling operation. The group was founded by Sudono Salim, also known as Liem Sioe Liong or LSL. LSL is…
FOR those with children in high school, the next big expense item they can look forward to, or shall we say, worry about are the college expenses that are just around the corner. Some people started saving for this expense early on but with college tuition even at the UC system increasing every year, only…
LET’S discuss reasons why you should consider filing, even you are not required to: • You expect a refund. You have credits that can generate a refund – from taxes withheld from your paycheck, estimated tax payments, or a prior-year overpayments applied to this year. • You may qualify for Earned Income Tax Credit (EITC)…
ROSARIO Juarez, a former female employee of AutoZone, Inc., the auto-parts retailer, sued her employer for discriminating against her because she was a woman, for demoting her after learning she was pregnant, and for firing her when she filed a discrimination claim. The case was tried before a jury of three women and five men….
ARE you facing a mountain of debt that you can’t pay and don’t know what to do about it? Perhaps this situation is causing you a lot of sleepless nights and making you very nervous. What should you do? Debt problems can wreak havoc on your personal life in many ways. And left unsolved, they…
THE end of the year is fast approaching! Before year’s end, our team wants to remind you to take a look at your dental insurance benefits. Insurance benefits typically don’t roll over to next year Each year your dental insurance company probably gives you a maximum amount of available benefits. Since those benefits don’t typically roll over…
“ If you file for bankruptcy, timing is critical. The IRS cannot and will not entertain your OIC after you file bankruptcy.” 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…
“ According to EPI, even though the restaurant industry is one of the fastest growing sector of the economy, its workers are some of the lowest paid and are much more likely than other workers to live in poverty or near-poverty level.” THE Economic Policy Institute (EPI) recently published a study on restaurant workers, how…
READ this if you owe the IRS money and can’t pay. IRS problems have a way of ruining all aspects of your life. They take a toll on you FINANCIALLY, PHYSICALLY AND EMOTIONALLY. They’re there when you go to bed at night and they’re there when you wake up in the morning. The IRS is…
“To have lived a meaningful and productive life is such a wonderful thing, but to live a life that will be remembered for the wisdom it shared with others is admirable, and a blessing to the people it has touched.” The late Sudono Salim also known as Liem Sioe Liong’s legacy remained for the world…
Last week, President Obama finally fulfilled his promise to provide executive amnesty to those who do not have legal status. The President did not call it amnesty, but in fact it is amnesty because his program gives legal status for a period of three years and gives eligible candidates a work permit to work legally…
CLIENT presents his financial problem as follows. It’s quite interesting and unusual. Client registered a partnership with his younger brother, each owning 50% of a retail business 20 years ago. The business did very well until recently due to increased competition that slowly crept up over the years. Then disaster struck. A fire occurred in…
YOU plan to sell an apartment building that you purchased 10 years ago at $300,000. It is now worth $800,000. You want to sell but are worried about potential taxes. And rightly so. Your tax preparer computes capital gains and gives you a combination of good and bad news. The good news: the capital gain…
Q: SEVERAL weeks ago, I was diagnosed with a medical condition that required me to go to my doctor every week for treatment. I had informed my supervisor about my need to take 2-4 hours off work every week for a limited period of time. Last week, HR told me I had too many absences….
FROM what I’ve witnessed in the last 15 years as a bankruptcy attorney, debt problems can put a huge stress on any marriage. When couples are going through a financial crisis, they are often deeply frustrated with one another especially when they are not on the same page as to what they need to do…
If you have been thinking about marketing your company or brand, you have probably heard these buzz words: paid media, owned media, and earned media. You might be asking yourself “What is the difference?” It is mind boggling trying to understand what is going on in marketing these days. Last month, we discussed paid media—referring…
It surprises people to learn that dentists are often first to discover health conditions like HIV, diabetes, and some forms of cancer. In part, that’s because we typically see you more often than your physician does. THERE are more bacteria in your mouth right this minute than there are people on this planet. Thoughtful dental…
SHORT sale occurs when a property sells for less than the remaining amount of indebtedness. Banks can go after homeowners for the deficiency – the difference between a low sales price and a high loan amount. The passage of two anti-deficiency judgment bills is a victory for California homeowners who have been forced to short…
