A new year and new challenges...

The  2014 season is finally upon us. Tax Season is just around the corner; this year it starts on January 31. Old clients, new clients, new referrals, new businesses that need of direction will come knocking on the door.  I used to feel a bit anxious about this but it became a mere routine.

What has me really excited is the fact that I waiting for my Real Estate test next week, then launch OREM Realty Inc.  which I already started.  At first,  I was not too convinced about getting into Real Estate but my Income Tax clients keep on asking me about real estate. Some of my clients have purchased property for themselves so it makes perfect sense to me to get a Real Estate License because otherwise I’m losing money big time.

OREM Southern California website

OREM Northern California Website

Also,  this year  in 2014  we are getting our turn with the processing of OREM Foundation, the non profit side of OREM Accounting Tax. We have been waiting for almost two  years.

OREM Foundation Website

The only thing that kind of worries me  is the fact that after this Tax Season or April 2014 this will be the first year that I have nothing to do, no license to obtain,  and no new business to start.  I hope boredom does not kick in.

The Leapfrog Project for rebuilding the Philippines...

Leapfrog Project

The Leapfrog Project

This is a good time of the year to start making adjustments to your accounting

systems before the end of the calendar tax year.

For that reason it is good to give to worthy organizations before the end of the year.

This leads me to why I am writing this blog. Recently, I heard from Lira Luis, a good friend and collaborator.  We spoke about the recent Haiyan Typhoon catastrophe in the Philippines.  She asked me to help and join her in her efforts of putting together the Leapfrog project for rebuilding the Philippines.

LeapFrog Project Video

“The devastation prompted the international community to mobilize and join hands in helping the affected communities rebuild and make people rise to regain lost lives.” This project, initiated by ALLL where Lira is Chief Collaboration Architect, is a response to a direct call for assistance from representatives of the Philippine Government. 

LeapFrog Project Website

Donate here with Paypal

Philippines Devastation Relief

In the first phase, The Leapfrog project is a multinational effort to fund

a workshop and the architecture realization of the program to bring together  built environment experts from the US, the UK and the Philippines to collaborate with the Philippine locals to reach a solution with the forward thinking solutions to the devastated areas while boosting the local

economy.

We all know Lira Luis from our collaborative efforts to spread good business and good accounting practices video series.

Lira Luis Video Interview.

Lira Luis had formed a team of experts for this Leapfrog Project.

I was approached for my experience as an IRS Enrolled Agent and for working with multiple nonprofit organizations in the US and also my experience with businesses all over the United States of

America.

I am proud to join forces with Lira Luis and bring OREM TaxAccounting LLC and OREM foundation Inc. experience to the table and collaborate with such a good project.

I’m proud to share with you that we have started securing sponsorships from corporations in the first phase.

We will be launching a crowd funding campaign soon where you can feel free to join efforts with us and donate.

Donate here

In the second phase, the conclusions from this Leapfrog Project Workshop will be shared to the public and translated to an architecture installation in devastated areas of the Philippines.

This phase is critical to help in the rebuilding efforts while ensuring the local economy improves as a direct result from this effort.

 Regarding the final phase, The Leapfrog project will construct a specific building type as a direct result of this developed collaborative effort. The main goal is to help rebuild the devastated areas while engaging the locals with rebuilding and at the same time allow the project to empower local economic activities.

For this final phase our goal is to raise an amount that would allow us to fund the construction of a structure that will be determined based on the on-ground needs of the locality that will help improve the life of the locals in the devastated areas.


Please donate any amount will make a huge difference

Here are some of the pool of experts that include. It’s not a complete list but I will be updating this list as the project develops:

USA:

US Philippines Society – Washington DC.

American institute of Architects (Diversity & Inclusion) – Washington DC.

ALLL (Atelier Lira Luis LLC) – Chicago IL.

OREM Accounting Taxation Representation LLC – Beverly Hills, CA.

OREM Foundation Inc. – Beverly Hills, CA.

International:

Bionic City – London, England.

Social Project. PH – Manila, Philippines.

Local to the Philippines:

United Architects of the Philippines (UAP), Quezon City.

National Housing Authority (NHA), Quezon City.

University of the Philippines College of Architecture, UP Diliman and UP Mindanao.

University of the Philippines Visayas (UPV), Tacloban.

WorkLand M&E Institute, Inc., Quezon City.

November the busy month before tax season...

Finally   November is here. This is the month when usually clients start to rush over accounting records and start to get ready for tax season.

In my case I start to get ready for tax season by making sure everything is in place, current tax software, bank products up to date, tax preparers ready, advertisement ready, and this year the new affordable care act or Obamacare in place I have an extra work by helping clients to sign up.

Also, by getting this new Real Estate license made my half year more interesting than usual; I’m glad to share that I passed all 3 college classes required, and I’m ready to take the California state examination, too bad they told me it’ll take about a month and half to schedule it. Now I’ll be forced to keep all the information fresh for the next weeks instead on moving on to the next challenge like I planned.

I’m very excited to share that this coming 2014 tax season that at OREM tax services we’ll have more agents helping us to further our services in different states,

This year I wonder what license are we getting in 2014? Because I obtained all the important licenses we planned and need. I guess it is time to start to get thing easy and just enjoy while networking everywhere we go.

I have the idea of teaching business accounting, tax write offs, on different cities and states. That is a request that I get often when talking to some people all the time.

October government shutdown and Obamacare start...

As of today October 10, 2013, we are still facing the government shutdown and the beginning of Obamacare.

The same day of the shutdown as millions of American I tried to create an account with the Health Care Reform Act or Obamacare, and I obtained an error message when I was transferred to Cover California (CA healthcare open market.) I waited for a few days to see if I would be able to create my account. However, I still got an error message.

Some of my clients were affected by the shutdown because some late income tax filers submitted their tax forms expecting a refund.  However,  instead some of them got a letter telling them because the shutdown will delay their tax refunds. The IRS is only processing income tax forms that have payment attached to them

Other clients that  have filed late  for prior years and expecting some tax refunds are in stand by.

Other clients are worried that their federal unemployment extension would cut any minute since they come from federal funds.

Some other clients with big retirement funds are really concerned that the default in place will definitely impact negatively.

Other wealthy clients with real estate and stock investments are concerned with the value of their investments that are going down every day that this shutdown is in place.

I can only imagine that my undocumented clients are also concerned because this political game will delay the approval of an immigration reform, which also worries me a little bit since that is income that I will lose if I don’t have new clients to process.

Going back to Obamacare, last night I was able to finely complete my account. I was able to log on and

now I only have to research for the best health care plan that suits best my needs.

What really surprises me is the fact that the political game affects the life of my clients.

For instance the states that have Republican governors reject the stimulus money or the Obama money as commonly referred. These states don’t have the nearly two year unemployment extension like California does, and they have the regular six month UI benefits.

The new health care is another example; In California the healthcare can be free for a single individual with 24K income, or only $24/ month for somebody who earns $33K.

Of course that I understand all this money won’t be forever but just long enough to help people to deal with the still weak economy.

Having drinks in Dallas TX with Hal and ex Boss KC

In my specific case I can tell you that due to the stroke I suffered last year in September 2012, I’m considered to have a pre existing condition. Last year when I called one of this health care companies I was told that my pre existing condition and that my only choice is to sign for Obamacare when it is available, I think is great that it is available now for me and for other people that needs it.

And as for the Texas exploring markets experience last month, it went well.

I think I will end up travelling a lot in the near future teaching basic accounting for individuals and taxes for small businesses all over the place in America.

Obamacare will be here soon, are you ready for it?...

We are in September 2013 and in less than 30 day all Americans will be able to enter the open market for healthcare, or Obamacare, the individuals that have healthcare throughout a job have nothing to worry about. But the one that doesn’t will have to get healthcare in order to avoid the Penalty fee.

OPEN MARKET

Open enrollment starts on October 1^st 2013 and ends on March 31^st 2014, and coverage starts on January1st, 2014.

Open enrollment means that you will be able to find healthcare insurance coverage at a lower price than in regular season.

PRE-EXISTING CONDITIONS

 If you’re like me and have a pre-existing condition, you won’t be turn down if you happen to have a pre-existing condition, health insurance companies cannot refuse to sell you with health insurance if you have a pre-existing condition.

COVERAGE

Then depending on your individual situation, single, married, with or without children, etc the cost can range from  cero to a couple of hundreds. Also depends on the type of coverage you want, bronze, silver, gold or platinum. The higher the income and the coverage the more expensive it gets.

CALIFORNIA

For example in the golden state of California for single individuals that are below the line of poverty  let’s say $18,000 a year there will be a $124.00 monthly fee that is covered entirely by the state and you’ll pay CERO with the basic coverage. But is you chose the fancy platinum coverage you’ll end up paying about $106.00/ month.

This is informational prices only, and is not my intention to provide with any specific quotes because the final prices are not available yet.

You can go to the healthcare website and play with the options to seek for the coverage you would need to avoid the penalty.

PENALTY FEE

If you don’t get a healthcare plan the penalty is 1% of you yearly income or $95.00 whichever is higher.

If you end up going to the emergency room and you don’t have health insurance then you’ll be bill the entire hospital bill and the penalty fee on top of that.

FOR BUSINESS OWNERS

If you happen to be a business owner then you have some options too. If you are a business owner without any full time employees or only part time employees who are pay with a 1099 then you qualify as an individual

IF UNEMPLOYED

If you’re unemployed you could qualify for Madicaid, keep in mind that your options depends on your income, and it could be free if your income is low.

WHERE TO GO ?

First you need to go to the government website to find out who runs the healthcare in your state of residence. So, first go to  www.healthcare.gov then from the drop down menu check your state and find out who runs the market in your state.

if you have more questions feel free to contact me...