How will you increase your profit? Marketing is the answer
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…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
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Senior citizen client seeks Chapter 7 relief
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…
IRS alert – protect yourself from telephone scams
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…
The dangers of being misclassified as an independent contractor
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….
Can bankruptcy really put an end to all your financial worries?
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…
Our tribute to some of the first women in dentistry
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….
A family business crisis waiting to happen
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 –…
Midnight Chapter 13 filing saves client’s house
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…
10 tips on child/dependent care
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….
What to do if you were fired
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. …
Where did your debt problems come from?
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…
Who should pay for work-related cellphone bills?
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…
Should you file married filing separately?
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…
Credit cards can keep you trapped in debt forever
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…
Fast-food workers strike for higher pay in LA, across US
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…
High income clients file Chapter 13 to handle large civil money judgment
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…
4 ways to avoid cracking a tooth
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…
Frequently asked questions (FAQ) #2 – FBAR financial accounts
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…
Client with wage garnishment files chapter 13 to save house from foreclosure
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…
When is bankruptcy a good option to get out of debt?
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,…
Can you take a nap during your lunch breaks?
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…
Client with wage garnishment files chapter 13 to save house from foreclosure
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…
Delayed wages entitle employees to additional pay
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…
Frequently asked questions (FAQ) #1 – FBAR filing requirements
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…
How do you handle the bad financial times when they come?
YOU’RE doing fine. You’re paying your bills on time and you have your debts under control. You’ve even managed to set aside a bit of savings in your bank account….
Clients seek bankruptcy relief to save for retirement
HOW old are you now? When you were 10, you wanted to become a teenager. When you were a teenager, you wanted to be 21. Thereafter, it’s a fast train…
Top 10 audit issues in California audit program for 2014
THE chief of the Franchise Tax Board (FTB) shares highlights of California’s audit program. The State examines about 300,000 income tax returns per year. Audits are conducted by desk, field,…
Give me a break . . . or $56.5 Million!
(Ten-year meal & rest breaks case is a win for employees) IN 2004, five employees of the restaurant, Chili’s, filed a claim against their employer claiming that they were illegally…
If your debts are out of control, read this
I WAS counseling someone the other day in my office. He looked shocked and confused as we sorted through all the credit card statements on my desk and added up…
How a little sunshine helps our teeth
WHO doesn’t love a little sunshine? Not only does it feel fantastic, but it also has numerous health benefits. Sunshine improves our mood, our immune functions, and catalyzes vitamin D production in…