Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
INDEED, dentistry is serious business. But that doesn’t mean we have to take ourselves too seriously all the time, right? Here are some dental-related fun facts: • A typical elephant’s molar weighs nearly nine pounds. • In 1994, a West Virginia prison inmate braided dental floss into a rope to escape! • The first toothbrush with animal…
One thing I truly enjoy about my job is my relationship with my clients. I get to speak with CEOs, Presidents from large corporations and small business owners from various industries, which keeps things interesting. The biggest difference that I see between large and small business are resources. The one thing that tends to elude…
SECTION 523(a)(8)(A)(ii) of the current bankruptcy code states that “an obligation to repay funds received as an educational benefit, scholarship or stipend;” is not dischargeable in bankruptcy unless excepting such debt from discharge would impose an undue hardship on the debtor and the debtor’s dependents. An adversarial proceeding is required to determine if a student…
TAX scams via email have become widespread over the last year. Thieves have become bolder. Their bogus IRS website has improved graphics and looks so real that even a veteran IRS auditor unwittingly logged into it. If he can be duped into this bogus website, what about ordinary folks like you and me? The IRS…
When employees are entitled to higher pay ANDREW Prizler worked as an hourly retail sales consultant at AT&T Mobility Services. Being in sales, he was also paid commissions. In June 2012, Prizler sued his employer, alleging that employer failed to pay him and other employees like him, all wages due, including overtime wages. Additionally, when…
ARE you having problems paying your debts? Are creditors calling you day and night threatening you with a wage garnishment, repossession or foreclosure? Are you starting to feel hopeless and depressed about your situation and don’t know where to turn for help? The last few years have been tough for a lot of people. You…
Have you ever found yourself asking this question? I asked myself the same 20 years ago, but found the answer. I’ve had many opportunities to work with Asian-owned small and medium-sized businesses. I quickly realized then the lack of knowledge these business owners had when it came to marketing. The most common statements heard were,…
CLIENT is a woman who is 72 years old. She worked as a mental health therapist for 40 years since she was actually a physician abroad. She was happy doing her job helping people to get their sanity back on track. She married her co-employee and they had two children. After 20 years, husband told…
ABOUT a dozen of my clients have complained of receiving threatening phone calls from the “IRS” to pay up or be subject to criminal investigation. This is a problem for us taxpaying folks. And it’s growing. The IRS renewed its warning about an emerging phone scam that continues to target people across the nation, especially…
IN 2005, Carolyn Gregory was assigned by her employer, a home health care agency, to work in the home of 85-year-old Lorraine Cott, who had long suffered from Alzheimer‘s disease. Carolyn was trained and experienced in caring for Alzheimer‘s patients. She knew they could be violent. Lorraine was combative and would bite, kick, scratch, and…
IF YOU are facing the prospect of filing bankruptcy for the first time in your life, this could be a frightening process. You probably have a thousand questions going through your mind as you contemplate your next move. Is bankruptcy the right thing to do or will it only make my situation worse? Will I…
TODAY there are as many women as there are men in dental schools. But 150 years ago it was very different. We admire and honor those women who paved the way. Women in dentistry Unofficially, women in dentistry go back a long way. Although a dental education wasn’t available to women until fairly recently, women have…
When a business owner dies or becomes permanently disabled, the business itself may die or be permanently disabled on the same day – not because something wrong was done – but because nothing was done! ACCORDING to a Forbes article, when Samsung Electronics chairman Lee Kun-Hee suffered a heart attack in May, investors began to…
CLIENT is 48 yrs old and operates a construction business. He also dabbles in fixer uppers to make money. His wife is an accountant and makes $5,000 a month. Business has not been good apparently. Their residence has equity of $200,000. He owes $150,000 of credit card debt which he used for business. Client has…
IF YOU paid someone to care for your child, spouse, or dependent, you may be able to claim the Child and Dependent Care Credit on your federal income tax return. Here are 10 tips on claiming a credit for child and dependent care expenses. • The expense for child and dependent care must be provided…
TERMINATIONS can be difficult situations, particularly where employees see the firing as unfair. Knowing one’s rights upon the end of an employment relationship may help employees weather this challenging time. The following provides some helpful guidelines: First: Make sure that the employment relationship has ended and there is no misunderstanding about this. Employment can end…
A PROSPECTIVE client was consulting with me the other day about credit card debts that have been piling up. He looked shocked and confused as we sorted through all the credit card statements on my desk and added up how much he owed. $65,000! That’s how much the statements said he owed! How could this…
Employees’ right to reimbursement COLIN Cochran sued his employer, Schwan’s Home Service, Inc., in a class action on behalf of about 1,500 customer service managers who were not reimbursed for expenses pertaining to the work-related use of their personal cell phones. Under California law, employees are entitled to reimbursements for expenses incurred in direct consequence…
OF course not. Why should I pay taxes based on the highest tax rates? The lowest rates belong to joint filers and widows, followed by heads of household, and single taxpayers. Certainly, it does not make sense to file married filing separate and pay those sky-high rates. Or does it? Let’s discuss the advantages and…
DO you wish you had less credit card debt than you currently owe? Have you charged more than you can afford to pay? Are you frustrated with the fact that your balances never seem to go down after having paid religiously for years? Do you feel hopelessly trapped in credit card debt? Credit cards are…
LOS ANGELES – “We want $15 and a union!” “Fast-food workers run this town!” “Si se puede!” These were some of the chants echoing from angry fast-food employees across the United States on Thursday, Sept. 4. The protesters, many of them McDonald’s and various fast-food chain employees, took to the streets to express their concerns…
Clients, husband and wife are 60 years old and both professionals in the medical field. Their combined gross income is about $200,000 annually. Their children are all adults and no longer their dependents. Their residence has a current fair market value of $1.1 M with a mortgage of $900,000. Their mortgage payment is $3,800 monthly…
THE healthy enamel that covers your teeth is the hardest substance in your body — it’s even harder than your bones! That’s great news when you consider the amount of pressure our jaw muscles exert on our teeth. However, your teeth can still be cracked and chipped. Here are four “don’ts” for avoiding a cracked tooth:…
The IRS issued new guidance requiring individuals with an interest in a “specified foreign financial asset” to attach a disclosure statement to their income tax return for any year in which the aggregate value of all such assets exceeds $50,000. Use new form Form 8938 (Statement of Specified Foreign Financial Assets) starting in 2011. Q….
CLIENT is 60 years old and married. She has gross income of $3,000 as a caregiver. Husband is not employed and waiting for social security benefits, which is still two years from now. Due to a car that was repossessed last year, client owes $18,000 on a car loan deficiency. Her salary is subject to…
ARE you being harassed by your creditors day and night due to unpaid bills? If you are, you know that this is a pretty unpleasant experience. You may feel scared, angry or embarrassed about your situation. The prospect of debt relief through bankruptcy may sound appealing to you but you are not quite sure if…
Q: I WORK in a hospital on 12-hour shifts. During my meal break, I sometimes go to our break lounge to take a nap. My supervisor told me sleeping is forbidden. Since it is my 30-minute meal break, I feel that I should be able to spend it however I want. What are my rights?…
CLIENT is 60 years old and married. She has gross income of $3,000 as a caregiver. Husband is not employed and waiting for social security benefits, which is still two years from now. Due to a car that was repossessed last year, client owes $18,000 on a car loan deficiency. Her salary is subject to…
JANIS McLean worked for the State of California as a deputy attorney general until she retired from service in 2010. She did not receive her final wages on her last day of employment or within 72 hours of that date. The correct amount of her wages for unused leave and vacation time were not transferred…
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 we don’t follow the new rules. I have written a series of simplified articles on this subject to help you understand the new rules and…
