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…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
Read More
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…
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…
Short sales in California – Q & A
A SHORT sale occurs when you sell your property for a price that is short of the balance owed to avoid a foreclosure – with the consent of your lender….
Injuries from dangerous premises require quick and serious action
A 56-YEAR old woman who tripped and fell several feet down a parking garage recovered $6.5 million in damages from the parking company and garage owner. According to reports, the…
When does filing bankruptcy make sense?
NO ONE ever likes to talk about bankruptcy. However, it’s simply a fact of life. Things happen. Whether it’s losing your job, going through a divorce, having huge medical bills…
When does filing bankruptcy make sense?
NO one ever likes to talk about bankruptcy. However, it’s simply a fact of life. Things happen. Whether it’s losing your job, going through a divorce, having huge medical bills…
Deathbed bankruptcy
I DON’T really want to talk about death but everyone dies whether we like it or not. Blame Adam for that. If Adam did not eat of the forbidden fruit…
IRS audits corporate shareholder loans
(Part 2) SHAREHOLDER loans accumulate over time and become red flags for IRS audits. Left unchecked, they grow to sums that are hard to repay. Let’s discuss some tips and…
‘Constructive discharge’ may be illegal termination
Q: I WAS recently forced to quit my job because of my abusive manager. Can I still sue for wrongful termination even if I was the one who left my…
Debt problems: Financial turnaround for businesses and families
WHILE I have written this article especially for small business owners, everything I say here will also apply to everyone who is going through a financial crisis. So, whether you…
When your toothbrush isn’t handy, reach for scrubber foods!
WE’VE all been in situations where we’ve wished we had a toothbrush—but didn’t. Perhaps it was on a recent camping trip. Perhaps it was right after lunch, on a day when you were…
Wage insecurity on security checks: Should employees be paid while at employer’s security line?
ACCORDING to reports, Walgreens, the drug retail chain, was sued by its California employees for, among other things, failure to provide employees the required meal and rest breaks and for…
Do you need to get out of the debt trap?
IF YOU are buried in debt, you may be feeling trapped at the moment with no way out. You realize you need help but don’t know where to go for…
Client raids retirement account to pay Business debts, then seeks bankruptcy relief
In life, for those who already have experience and some wisdom, there is such a thing as getting the right advice at the right time. In fact, the right advice…