Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
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….
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….
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…
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…
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…
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…
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…
Q: AT work, we are required to wear a uniform, which only the employer can provide. The cost of the uniform is deducted from our pay. Is this deduction legal?…
WHEN people are going through financial difficulty and are unable to pay their bills, their first reaction is often to ignore their debts and avoid contact with creditors. They think…
WHEN it rains, it pours. When push comes to shove, and your back is up against the wall, you may think of many desperate things that you can do to…
WE will discuss two new cases involving clients who seek a fresh start in life with no debts owed to anyone. Both sets of clients are in their forties. The…
TOUGH times may necessitate dipping into your retirement funds before retirement. Look at the tax impact of such a move. You may be shocked to find out what you are…
EVERY now and then, our law firm receives calls from persons who inform us that supervisors reduced their hours, or suspended them for a trump up charge, in order to…
THE recession has been tough on a lot of small businesses. And if you have a family-owned business that is your only source of income, the business may not even…
HAVE you ever accidentally bitten down on a little piece of aluminum foil? Have you experienced that quick zap of pain? Perhaps a little piece of foil was clinging to the tortilla when…
IF YOU earned income in the last few years but didn’t file a tax return because your wages were below the filing requirement, the Internal Revenue Service may have some…
KINDRED Healthcare Incorporated, a healthcare services company that operates hospitals, nursing centers, and rehabilitation services nationwide, was sued by its health care employees in California. The employees alleged that Kindred…
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…
I REMEMBER client the first time I met her 15 years ago. At that time, she was only 30 years old and had just started working as a registered nurse…
1. IRS wants you to keep good records to document your income and support your expenses. It does not require you to keep records in any specific manner, but there…
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…
I KNOW we’ve never met. But there’s a common concern we all share. As a debt relief attorney, I hear it from people who consult with me every day. It…
What is the first thing you do when planning for your daily commute? You probably watch the news, check for train or bus delays on the internet, or check a…
“Taxpayers who are hit with the 20 percent penalty for negligence or disregard of rules may try to establish reasonable cause for underpayment and show that you acted in good…
Q: I HAVE worked at XY Company, a big processing plant in the Inland Empire, for many years. My direct employer is really ABC LLC, which subcontracts labor to XY…
PEOPLE come to me every day with different reasons for getting out of debt. Most of the time, I’m thinking that they would have been better off had they come…
HERE it comes! The season of ghosts, ghouls, witches, and, of course… candy! If you’re savvy about it, there’s no reason for your Halloween fun to come at the expense…
“I choose to rise up out of that storm and see that in moments of desperation, fear, and helplessness, each of us can be a rainbow of hope, doing what…
YESTERDAY, a new client I saw said that she had been in a Chapter 13 paying $400/month for the last 12 months. But next year after her car was paid…
HERE 10 tips if you owe but cannot immediately pay the IRS: • Pay What you can: Pay promptly to stop additional penalties and interest from accruing. If you are…
