Business owner files chapter 7 as losses mount

Young client seeks chapter 7 relief for $$70K credit card debt   Business owner files chapter 7 as losses mount CLIENTS are spouses who own and run a business together. They own an S-corporation that has been in business for 20 years. They have 10 employees. An S-corporation, as distinguished from a C-corporation, is one…

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12 ways to avoid an IRS audit

1. DO not boast about how you got away with undeclared income or manufactured deductions. Ever heard of whistleblowers? They earn rewards of 15% to 30% of your assessments. If you have a tendency to be creative, keep it to yourself. Just shut up. Better yet, stop being creative. Remember the law of averages. Remember…

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Why bankruptcy may not be as bad as you think

SLEEPLESS nights. Stressed out. Worried about the future. Always broke. This is what most people are going through when they are considering bankruptcy in order to get out of debt.  The word “bankruptcy” often produces negative feelings because some people equate it with failure. But nothing can be further from the truth. Bankruptcy is not…

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A Lenten examination of conscience

JESUS, can we drink the cup that you drink or be baptized with the baptism with which you are baptized? Can we really do this? Can we accept failures? Can we accept imperfections in people, in church, in government and in business? Can we forgive and understand those who annoy us, who do not share…

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Rose P. Javier looks back sans regret as she turns 70

AFTER having immeasurably lived life, deservingly attained what she desired, and contentedly enjoyed the vast reward of what she has painstakingly toiled for, it is only but fitting and appropriate that Rose Pantoja Javier recognizes the seven decades she has profitably journeyed with a grandiose celebration to mark her noteworthy  milestone. Although turning 70 could…

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Why the do we celebrate EDSA I, anyway?

There have been 20 countries in the post-war era that had peaceful “revolutions” similar to our ESDA uprising in 1986 – more accurately, nonviolent, extra-constitutional regime changes, especially transitions from dictatorship to democracy. Thirteen of these were the so-called “color revolutions,” said to have been inspired in some way by the EDSA “Yellow Revolution.” But…

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The ‘dietary aid’ scam

WE wrote about the United States Food and Drug Administration (FDA) issuing a public alert on June 1, 2009 for consumers to “stop using Hydroxycut Products, dietary supplements used for weight loss as fat burners, as energy-enhancers, as low carb diet aids, and for water loss under the Lovate and MuscleTech brand names.” While this…

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You cannot make up your own marriage laws

MARRIAGES are usually governed by the laws of the place of celebration. In the Philippines, the Family Code deals with the validity, invalidity, and termination of local marriages.  Despite these laws, some people “invent” their own marriage laws, based on gossip, rumors, hearsay, or statements from friends, relatives or barangay captains.  However, this can be…

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Fil-Am who started petition for Nike to drop Pacquiao gets death threats. Should Pacquiao Intervene?

FIL-AM Aries Dela Cruz spearheaded an online petition for Nike to drop the Philippines’ Pambansang Kamao Manny Pacquiao as its endorser after the boxing congressman compared people in homosexual relationships to animals. Now, this kababayan from New Jersey is getting death threats online. The harassment and threats are reportedly not only aimed at Dela Cruz,…

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Ideological

30 YEARS ago—on Feb. 25, 1986—the People Power Revolution on EDSA trampled the 20-year-old dictatorship of former Pres. Ferdinand Marcos. For the generation who witnessed this peaceful uprising, the echoes of the People Power Revolution reverberated not only in the air, but in the consciousness of the Filipinos who were awakened to their senses about…

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Beyond age lies a gentler joy

Getting old is a natural thing and no one should not be afraid of the natural— trees, animals age, and everything that is alive. I am not afraid to look old. I don’t know indifference, I ignore bitterness. If something unpleasant happens to me, I put it behind. Women of that certain age are in…

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Pacquiao negotiating with other brands after being dropped by Nike

DAYS after Nike dropped its endorsement contract with Manny Pacquiao due to his controversial remarks on same-sex couples, the Filipino boxer has reportedly begun negotiating new deals with other sports apparel companies. “There are several already now in the pipeline,” Pacquiao’s business manager, Eric Pineda, told Agence France-Presse without identifying the companies. “They [the Pacquiao…

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Business owner files chapter 7 as losses mount

Young client seeks chapter 7 relief  for $$70K credit card debt Business owner files chapter 7 as losses mount CLIENTS are spouses who own and run a business together. They own an S-corporation that has been in business for 20 years. They have 10 employees. An S-corporation, as distinguished from a C-corporation, is one where…

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