Business News

In the 1970’s, California led the nation in adopting a very robust set of tort reforms in the medical malpractice area.  One of these reforms was a $250,000 cap on non-economic damages.  This cap has remained in place for over thirty years, without any adjustment for inflation.  This cap means that plaintiffs in a given case cannot, collectively or individually, recover more than $250,000 for intangible injuries like pain and suffering and loss of companionship.  

Myth: The economy is so bad that no one is hiring at all.
Reality: Opportunities exist!
You’d better be ready to work hard to uncover them!  But indeed, many individuals have convinced themselves that due to the difficult economy there simply are no jobs to be found, no opportunities to be had. 

Have you ever wondered what really goes on at a CPA’s office?  If you have ever met with a CPA at his or her office, you know it can be a busy place.  There might be bookkeepers, administrative assistants, accountants and other CPAs working there.  CPAs do a lot more than just file tax returns.  However, each play a role in getting your tax return completed and filed on time.

A year-end financial review can be instrumental to your future financial success. However, you may not want to wait until the end of the year to review your financial affairs.  Consider doing it during the fall so you’ll have ample time to take any corrective action before year’s end.  Here’s a quick look at some of the key issues you should consider when conducting your review.

Filing bankruptcy is a serious decision for most people.  Although more than a million people file bankruptcy in this country every year, most don’t have a clue about how the process works until they actually consult with an attorney.  Confusion often results from hearing conflicting personal opinions from people they know.  Sad to say, well-meaning friends and family often give the wrong advice and the results can sometimes be disastrous.  Remember that as much as your friends and family care about you, nothing takes the place of professional advice.

It never ceases to amaze me when a client walks into my office with a shoe box in hand, and canceled checks and receipts are spilling all over the floor.  It’s 2012, and one would think that with all of the organizational tools at our finger tips today, we would be prepared for tax time.

The 4th Annual Santa Clarita Valley Chamber of Commerce Health & Wellness Fair sponsored again this year by Henry Mayo Newhall Memorial Hospital, is scheduled for February 25, 2012 form 9 a.m. to 3 p.m.  Location is the College of the Canyons Student Center, 26455 N Rockwell Canyon Rd.

The Federal Trade Commission estimates as many as nine million Americans have their identities stolen each year. Identity theft occurs when someone uses your personally identifying information such as your name, Social Security number or credit card number, without your permission, for the purpose of committing fraud or crimes. While some identity theft victims can resolve their problems quickly, others are not so fortunate in repairing damage to their good name and credit record.
What do you do to protect yourself from identity theft?

So let’s say you are a small business owner or a homeowner, and someone is suing you.   You diligently tendered the matter to your liability insurer.  The good news is that you did not receive a letter denying coverage.  Instead, you received a letter from the carrier stating that it would supply a defense in the suit, subject to a reservation of rights.  Such a letter – what insurance law practitioners often refer to as an “ROR” letter – is the typical response that liability insurers issue when presented with a third party claim against their insured that might, or might not, be covered, depending on how the facts of the case are developed through discovery and trial.

Myth:  It’s the holiday season… no one will be hiring now, so it’s time to take a break from the hassle and frustration of job search to enjoy relaxation and celebration with just the family.
Reality:  It’s the holiday season… what a great time to get in the door to the contacts that are needed for effective job search!  

You and your spouse are divorcing and your children are in high school.
The working spouse has worked at the same job for 20 years.
You haven’t worked since the kids were born, and you have no current job skills.
When your soon to be ex-spouse figures out that child support payments may be radically affected if you were working and earning income, they usually ask for you to stipulate to a “Vocational Evaluation.”

As 2011 comes to end, we find ourselves reminiscing over all the great memories we experienced this year.  Family outings, kid’s games, weddings, graduations, holidays and many more.  With all those memories came a sense of happiness, excitement and fulfillment.  Every one of those memories was made possible, in part, by having insurance in order for all those events to take place. 

The question is often asked, should I file my bankruptcy before I get divorced or should I get divorced before I file bankruptcy. Frequently people find themselves contemplating filing bankruptcy while they are at the same time embroiled in divorce litigation.
The answer to the question depends upon several factors. Take for example a situation where the parties own a residence with $50,000 equity and a rental property with $50,000 equity. Their goal was for Wife to take the residence and for Husband to take the rental property.

Deciding whom to designate as a beneficiary for your IRA might seem like an easy decision—you probably want your money to go to someone near and dear to you.  But is the person (or people) you’re thinking of actually named as the beneficiary on the particular IRA you opened all those years ago?
To be certain, it’s wise to review your beneficiary designation form every few years, or whenever you’ve had a change in circumstances, such as a birth of a child or grandchild or change in marital status.  Changing your beneficiary is easy—you simply complete a new beneficiary designation form.  Keep in mind that a will or trust does not override this form, or the IRA document itself (which may have “default” beneficiary designations that control even if no beneficiary designation is on file), unless you name your estate or trust as your beneficiary. Because beneficiary designations are important estate-planning documents, you may want to review them with your attorney.

Most debt problems don’t go away and solve themselves.  They are there when you go to bed at night, and they’re still there when you get up in the morning.  They can cause a lot of ulcers, sleepless nights, stress and even physical sickness.  As a bankruptcy attorney for the last 12 years now, I’ve seen the devastating effects of serious debt problems on people’s personal lives, their businesses, their families and their marriages.

Tax season is about to begin. And there are many things to consider when filing your taxes. While some of you may opt to file your taxes with use of a tax software program, many are simply choosing to use a professional tax preparer to file their taxes. There are many advantages to using a professional simply because they are armed with knowledge about the ever changing rules and regulations put forth by the IRS, as well as applying the intricacies of these rules and regulations to your personal and or business tax situation.  And today more than ever, just as last year, tax laws, rules, and regulations are changing mid-stream, leaving many to scramble for the correct, up to date information. And that’s the importance of using a professional.    

As most of us settle into the rigor of our back-to-school schedules as schools have resumed classes, I am thoughtful of the time and effort we, as parents, take to “prepare” our children for the coming school year.  Indeed, every August and September, parents across the United States spend countless hours perusing their local malls and retailers to purchase school supplies, books, backpacks, lunch boxes, and clothes so that our children will be “ready” for the upcoming school year.  And, of course, retailers feed this need to be “prepared” by offering drastic prices cuts on must-have supplies and technological items sure to assist our children through this important academic year.   

According to CoreLogic, Inc., 30 percent of the homeowners in California are “underwater” – meaning that they owe more in mortgage debt than their home is worth.   The good news is that this percentage has been declining recently.   The bad news is that the reason for this decline is not increasing home values.  Instead, the reason is the increasing number of foreclosures.  Underwater homeowners are simply becoming former homeowners.
For the millions of underwater homeowners, there are many different potential strategies.