Tax consequences of debt discharge

MANY financially distressed borrowers lost their homes and had their loans cancelled during and after the recession. It was a relief to have their debts reduced or forgiven, but the same debt relief also triggered tax consequences that they were not aware of. In my CPA practice as a tax consultant, homeowners express shock and…

Read More

FVR honors WWII veterans on Memorial Day

IN an unprecedented show of unity, patriotism and force, spontaneous welcome filtered out of nowhere for former President Fidel V. Ramos (FVR) at the Bob Hope Patriotic Hall this Memorial Day Weekend. Once more, in a moment of celebration, FVR came to honor the men and women and what they died for…despite the bloody cost….

Read More

Where nothing fades away

FR. ANDREW Chung’s words during his First Mass as a newly-ordained priest still ring in my ears: “New vestments, new chalice, newly ordained priest…These are all things that will fade away, and yet what we are reminded by the Solemnity of the Ascension of Our Lord is that while most things fade away, the one…

Read More

DHS announces process for deferred action renewal

PWC to continue support for DACA-eligible Pinoys LOS ANGELES – On Thursday, June 5, the Department of Homeland Security (DHS) announced the details of the process for individuals to renew their enrollment for the Deferred Action for Childhood Arrivals (DACA) program. DACA is a DHS-initiated administrative relief for certain people, who were brought to the…

Read More

Cal MediConnect launched in LA County

LOS ANGELES – On May 29, Cal MediConnect was launched for ‘dual eligibles’ living in Los Angeles County at St. Barnabas Senior Services Center. According CalDuals.org, dual eligibles are those “who receive health care services through both the Medicare and Medi-cal (Medicaid nationally) programs.” In an ethnic media roundtable discussion conducted by New America Media…

Read More

First Ballot Counting Update for the June 3, 2014 Statewide Direct Primary Election

Los Angeles County Registrar-Recorder/County Clerk (RR/CC) Dean C. Logan announced the first ballot counting update for the June 3, 2014 Statewide Direct Primary Election. The update includes 19,246 ballots processed since Election Night, consisting of Vote by Mail ballots. For specific tallies, visit www.lavote.net. For updates, follow the RR/CC on Twitter @LACountyRRCC. Please note these results are…

Read More

Consul General Herrera-Lim joins panel discussion on Preparedness, Response and Recovery: Six months after Typhoon

Los Angeles, 06 June 2014 – Consul General Leo Herrera-Lim was one of the featured panelists during the panel discussion held by the American Red Cross Los Angeles Region on 03 June 2014 regarding Preparedness, Response and Recovery: Six Months After Typhoon Haiyan. Mr. Steve Levitan, Co-Creator and Executive Producer of Modern Family and American…

Read More

L.A. County Polls Close and First Election Night Ballot Count for the June 3, 2014 Statewide Direct Primary Election

Los Angeles County Registrar-Recorder/County Clerk (RR/CC) Dean C. Logan announced the closing of the polls and reported the first Election Night results for the June 3, 2014 Statewide Direct Primary Election. The first Election Night ballot count includes 256,813 returned Vote by Mail ballots out of 1,533,157 Vote by Mail ballots issued in L.A. County,…

Read More

Dedicated

THE match may have not ended the way he wanted it to, but it was a victory nonetheless. Fil-Am boxer Nonito Donaire Jr., scored another victory for his kababayans when he won against South African Simpiwe Vetyeka at the Venetian Resort’s Cotai Arena in Macau on June 1. Donaire took home an improved record of…

Read More

Legal treatment of foreclosure deficiency

A FORECLOSURE deficiency is the amount you legally owe to the creditor after the property is foreclosed upon by the creditor. If a car is repossessed, the creditor takes it back then sells it on auction (same as foreclosure). The auction sale produces an amount of sale proceeds that is normally less than the balance…

Read More

Inside Dante’s Inferno

THE memory of what is irrevocably lost is the true meaning of Hell in the Divine Comedy. Dante Alighieri is considered as the Father of Italian Poetry. The poetry of the Comedy is immortal.  It is an unequaled phenomenon, as well as a brilliant work of art. Written in the vernacular (Italian) rather than in Latin of medieval authors…

Read More

LA Central Library holds free US citizenship workshop

LOS ANGELES – Hundreds of lawful permanent residents participated in the 2nd Annual Pan Asian Citizenship Workshop for free US citizenship application assistance at the Los Angeles Central Library on Saturday, May 31, in congruence with the celebration of Asian American and Pacific Islander Heritage Month. City Librarian John Szabo initiated the event to accommodate…

Read More

Constants and variables

ACCORDING to official data released on May 29, a succession of natural disasters (The 7.1-magnitude earthquake in Bohol and Super Typhoon Haiyan in 2013) has slowed down growth of the Philippine economy in the first quarter — uprooting it from its position as best performing economy in Asia. With gross domestic product (January-March) at 5.7…

Read More

How IRS audits attorneys

IRS agents are equipped with a guide that provides audit techniques to issues unique to attorneys. IRS instructs its agents to probe into the following areas: – Unreported income, deferral of income. – Advanced client costs. – Bartering. – Constructive receipts. – Personal service corporations. – Worker Reclassification – were employees misclassified as independent contractors?…

Read More

Higher overtime rates may apply for some employees

ACCORDING to recent reports, Sarah Chookey worked as a commissioned sales employee in the automotive department of Sears in its branch in Thousand Oaks, CA. Apart from commissions, Ms. Chookey was also paid a base pay rate (an hourly rate). When Ms. Chookey worked overtime, her overtime pay was based only on her base pay…

Read More
Back To Top