Saturday, December 12, 2015

Hakeem Jeffries, U.S. Representative for New York's 8th District



Question: There seems to be a continuous rise of gun violence across New York City, as an influential young man in this City and a US Congressman, what is your take on this epidemic and your suggestion to curb the deadly problem? 

Congressman Hakeem Jeffries: We have a gun violence epidemic in the City of New York and across of America as most recently brought to life again by the tragic shooting in Oregon. America has five percent of the world’s population, but fifty percent of the world’s guns, so half the guns that exists  in this world is in the United States of America. It is estimated that we have more than 285 million guns in circulation throughout this country. That’s why it is important for Congress to act and to make sure: 1.That we can do everything possible to keep guns out of the hands of criminals, those with criminal convictions as well as those with mental illness who are likely to do us harm. In the inner City we’ve got additional challenges here in Brownsville and throughout East New York and throughout communities in Brooklyn and New York City, because the guns that cause the havoc here aren’t being sold originally or manufactured in the City of New York, they are actually imported into the City from Southern States like North Carolina, South Carolina, Virginia, Georgia, as well as the neighboring state of Pennsylvania.

One of the things that Congress woman Yvette Clarke and I have worked on is to try to secure funding for the bureau of Alcohol, Tobacco and Firearm known as the ATF that is the Federal Agency charged with enforcing our gun laws, and it has the responsibility to prevent guns from being traffic from other States into New York. We recently wrote to President Obama requesting an additional 60 million dollars for funding in the context of this year’s budget for the ATF, so we can fully fund the gun prevention effort. Lastly we’ve got to make sure that our young people have other opportunities for their natural intelligence and abilities to be brought to light so that those bad actors who would tempt them with destructive behavior aren’t pull them into a different way of life.

Question: What role can the Church play in helping to alleviate the problem?
Congressman Jeffries: One of the reason why it is so important for the church to be engaged as intimately as possible, is so that we can develop a culture of life as it relates to respecting one another and the godliness that has been put into all of us who has been created in God’s image. One of the problems that we have seen in the absence of respect for life, disputes that should have been worked out in different ways and perhaps in the past would have resulted in physical altercation and not the taking of one’s life are handle in ways that we see levels of violence that should concern us all. It should be noted of course, having grown up myself here in Central Brooklyn in Crown Heights and Bedford Styvason in the 1980 that gun violence and homicides have decline dramatically over the last 20 or 25 years. They are still too high, because it use to be some 2000 a year and now they are down to under 350 per year, that is still 350 too many and there is still lots of work to be done, but we need to look at how that progress was made with investment from community leaders, clergy and others and continue that so we can get it down to a point where not a single life is taken in our communities.

Question: Is there a particular message you want to send to those touting guns for the purpose of settling disputes?

Congressman Jeffries: Young people need to take a deep breath, pause and think before you act, because the consequences of a bad decision on one day could last not just for a week, a month or a year, but, can impact you for the rest of your life. So it is important to pause, to think and to seek out an elder, and to respond to conflict not with aggression, but in a calm and reasonable fashion that will allow that young person to live out their life and reach their full potential.

Karim Camara, Executive Director/Deputy Commissioner of Governor Cuomo’s office of Faith-based Community Development Services



Question: Governor Andrew Cuomo’s Aide was accidentally Show by a stray bullet and subsequently died of his injuries, gun violence has been and is now posing an even greater threat to the lives of innocent people across the City and State of New York, as a religious leader and an officer of the State of New York, what is your response to the issue of Gun violence and its impact on residents of this state?

Rev Karim Camara: The issue of gun violence is a long standing problem. We have to deal with the issues of the concentration of poverty in communities throughout the country. This is something that is not unique to New York City or New York State. In this State we have to continue programs such as the ones Governor Cuomo has championed and passed through the legislative process, and the ones he has come up with on his own including urban youth jobs, work for success and increase the minimum wage. We can’t blame gun violence alone on someone not having a job, but we have to look at all the factors that lead into community decay and many of those situations has to do with economics not guns. 

Question: From the vantage point of your current office, is there a particular message you want to share on this issue of gun violence?

Rev Karim Camara: Speaking as a pastor, every faith leader has a responsibility and a mandate according to the ethos of our respective religions to be involved in issues of social justice and to find a way to help the poor, find a way to engage someone who is currently disconnected from society to see that they can get an education, to see that they can get a job, to see that there are no permanent ramifications to their life of having a criminal record. The faith leader has to step up to the plate and be engaged in their respective communities. The faith community has the responsibility to help young men and women who are removed from the educational process, the employment process and to connect them. I would say to young people, don’t let a temporary problem be impacted by a permanent action. When you have a temporary problem and being disconnected from school or work, don’t allow that in your moment of despair lead you to do something like violence that will have a negative permanent impact on life, do something that will have a positive and lasting impact on your life, reach out to a local faith leader, a local church, a local mosque, a local synagogue because there are resources out there to help you. Whatever you are going through, believe in yourself, and maintain your hope, because in spite of the economic condition, in spite of the education you may have received, in spite of your social situation you are still a miracle, a person who can be a world changer if you just look long term and do the things you need to succeed and advance in your life.

Thursday, December 3, 2015

2015 Tax Tips for Individuals



From tax credits and educational expenses to the AMT, many of the tax changes affecting individuals for 2015 were related to the signing of the American Taxpayer Relief Act (ATRA) in 2012--tax provisions that were modified, made permanent, or extended. With that in mind, here's what individuals and families need to know about tax provisions for 2015.
Personal Exemptions
The personal and dependent exemption for tax year 2015 is $4,000.
Standard Deductions
The standard deduction for married couples filing a joint return in 2015 is $12,600. For singles and married individuals filing separately, it is $6,300, and for heads of household the deduction is $9,250.
The additional standard deduction for blind people and senior citizens in 2015 is $1,250 for married individuals and $1,550 for singles and heads of household.
Income Tax Rates
In 2015 the top tax rate of 39.6 percent affects individuals whose income exceeds $413,201 ($464,851 for married taxpayers filing a joint return). Marginal tax rates for 2015--10, 15, 25, 28, 33 and 35 percent--remain the same as in prior years.
Due to inflation, tax-bracket thresholds increased for every filing status. For example, the taxable-income threshold separating the 15 percent bracket from the 25 percent bracket is $74,900 for a married couple filing a joint return.
Estate and Gift Taxes
In 2015 there is an exemption of $5.43 million per individual for estate, gift and generation-skipping taxes, with a top tax rate of 40 percent. The annual exclusion for gifts is $14,000.
Alternative Minimum Tax (AMT)
AMT exemption amounts were made permanent and indexed for inflation retroactive to 2012. In addition, non-refundable personal credits can now be used against the AMT.
For 2015, exemption amounts are $53,600 for single and head of household filers, $83,400 for married people filing jointly and for qualifying widows or widowers, and $41,700 for married people filing separately.
Marriage Penalty Relief
The basic standard deduction for a married couple filing jointly in 2015 is $12,600.
Pease and PEP (Personal Exemption Phaseout)
Pease (limitations on itemized deductions) and PEP (personal exemption phase-out) limitations were made permanent by ATRA (indexed for inflation) and affect taxpayers with income at or above $258,250 (single filers) and $309,900 for married filing jointly in tax year 2015.
Flexible Spending Accounts (FSA)
Flexible Spending Accounts are limited to $2,550 per year in 2015 and apply only to salary reduction contributions under a health FSA. The term "taxable year" as it applies to FSAs refers to the plan year of the cafeteria plan, which is typically the period during which salary reduction elections are made.
Specifically, in the case of a plan providing a grace period (which may be up to two months and 15 days), unused salary reduction contributions to the health FSA for plan years beginning in 2012 or later that are carried over into the grace period for that plan year will not count against the $2,500 limit for the subsequent plan year.
Further, employers may allow people to carry over into the next calendar year up to $500 in their accounts, but aren't required to do so.
Long Term Capital Gains
In 2015 taxpayers in the lower tax brackets (10 and 15 percent) pay zero percent on long-term capital gains. For taxpayers in the middle four tax brackets the rate is 15 percent and for taxpayers whose income is at or above $413,201 ($464,851 married filing jointly), the rate for both capital gains and dividends is capped at 20 percent.
Individuals - Tax Credits
Adoption Credit
In 2015 a nonrefundable (i.e. only those with a lax liability will benefit) credit of up to $13,400 is available for qualified adoption expenses for each eligible child.
Child and Dependent Care Credit
The child and dependent care tax credit was permanently extended for taxable years starting in 2013. If you pay someone to take care of your dependent (defined as being under the age of 13 at the end of the tax year or incapable of self-care) in order to work or look for work, you may qualify for a credit of up to $1,050 or 35 percent of $3,000 of eligible expenses.
For two or more qualifying dependents, you can claim up to 35 percent of $6,000 (or $2,100) of eligible expenses. For higher income earners the credit percentage is reduced, but not below 20 percent, regardless of the amount of adjusted gross income.
Child Tax Credit
For tax year 2015, the child tax credit is $1,000. A portion of the credit may be refundable, which means that you can claim the amount you are owed, even if you have no tax liability for the year. The credit is phased out for those with higher incomes.
Earned Income Tax Credit (EITC)
For tax year 2015, the maximum earned income tax credit (EITC) for low and moderate income workers and working families increased to $6,242 (up from $6,143 in 2014). The maximum income limit for the EITC increased to $53,267 (up from $52, 427 in 2014) for married filing jointly. The credit varies by family size, filing status and other factors, with the maximum credit going to joint filers with three or more qualifying children.
Individuals - Education Expenses
Coverdell Education Savings Account
You can contribute up to $2,000 a year to Coverdell savings accounts in 2015. These accounts can be used to offset the cost of elementary and secondary education, as well as post-secondary education.
American Opportunity Tax Credit
For 2015, the maximum American Opportunity Tax Credit that can be used to offset certain higher education expenses is $2,500 per student, although it is phased out beginning at $160,000 adjusted gross income for joint filers and $80,000 for other filers.
Employer-Provided Educational Assistance
In 2015, as an employee, you can exclude up to $5,250 of qualifying post-secondary and graduate education expenses that are reimbursed by your employer.
Lifetime Learning Credit
A credit of up to $2,000 is available for an unlimited number of years for certain costs of post-secondary or graduate courses or courses to acquire or improve your job skills. For 2015, the modified adjusted gross income threshold at which the lifetime learning credit begins to phase out is $108,000 for joint filers and $54,000 for singles and heads of household.
Student Loan Interest
In 2015 you can deduct up to $2,500 in student-loan interest as long as your modified adjusted gross income is less than $65,000 (single) or $130,000 (married filing jointly). The deduction is phased out at higher income levels. In addition, the deduction is claimed as an adjustment to income so you do not need to itemize your deductions.
Individuals - Retirement
Contribution Limits
For 2015, the elective deferral (contribution) limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan is $18,000. For persons age 50 or older in 2015, the limit is $24,000 ($6,000 catch-up contribution). Contribution limits for SIMPLE plans remain at $12,500 for persons under age 50 and $15,500 for persons age 50 or older in 2015. The maximum compensation used to determine contributions increased to $265,000.
Saver's Credit
In 2015, the AGI limit for the saver's credit (also known as the retirement savings contributions credit) for low-and-moderate-income workers is $61,000 for married couples filing jointly, $45,750 for heads of household, and $30,500 for married individuals filing separately and for singles.
Please call 718-222-3155, if you need help understanding which deductions and tax credits you are entitled to, also bring your past three years tax returns at the consultation. The consultation fee is $100, if you retain the Law Firm of Figeroux & Associates for your tax audit or preparation, that consultation fee will be credited to your retainer. For more tax news and to schedule an appointment online click here: www.311tax.com.

Friday, October 9, 2015

Debt Collections - Are you frustrated? Afraid you may lose your business? Do you understand the law?



Companies across the country are getting hit with massive fines and judgments every day by violating critical federal collection law regulations and guidelines. Unintentional mistakes or not, the courts are bringing down the hammer on companies — and individuals — just like you.
Attend this fast-paced and informative introductory seminar that shows you exactly what violates the Fair Debt Collection Practices Act (FDCPA) and other laws that lead to costly fines and judgments.
With the help of an attorney experienced in the legal pitfalls of collections law, you’ll learn how to avoid the simplest legal mistakes and get concrete information on how to legally collect debt for commercial and small businesses.  We will also cover collections in sticky situations like bankruptcy and out-of-town debt.

Commercial Collection                                                                                                          Business debt collection is a unique process. From sole proprietorships to large corporations, no company is immune to past due accounts. Commercial debt collection is not an easy process. Our business collection strategy is different depending on the company type, management and structure.
The Law Firm of Figeroux & Associates is a well established law firm that will represent you with your delinquent accounts receivables using our in-depth understanding of the commercial debt collection process and a team of business collection specialists. Our collections experience and familiarity with the process of debt collections enable us to collect your debt faster.
Some businesses are responsive to delinquency notices from our firm. Others require an aggressive combination of phone calls and letters. Beyond that we have services that can provide commercial debt collections through legal strategies. We use personnel resources, the latest technology and proven effective methods to collect what you are owed. These are the keys to fast, effective collection of your accounts.

Small Business Collection
Managing accounts receivables (AR) is critical for maintaining the health of a company. When you start to see open invoices lingering unpaid for more than 30 days the company bottom line begins to suffer. You’re in business to make money, not to become the banker for another business. Slow pay or no pay, we’re here to help collect your accounts receivable.
Using our in-depth understanding of the debt collection process and a team of debt collection specialists we collect on slow paying open invoices and delinquent accounts receivables. In many cases our collection efforts support your internal billing processes so you can save the relationship with your customer. Our personal collections experience and familiarity with the process of collecting slow paying accounts receivables enables us to collect your debt faster.
We’ve got a combined debt volume that allows us to staff our office with the most aggressive and successful accounts receivable collection specialists available. Again, we use the personnel resources, the latest technology and the proven effective methods to outstanding invoices. These are the keys to fast, effective collection of AR accounts. Our results are the testament to our proven invoice collection methods.

Be Warned
It’s never been easier or more costly to make a critical mistake                                        
Doing your job as an A/R professional is hard enough without the threat of lawsuits hanging over your head. But make no mistake, debtors today have a WEALTH of information at their disposal about what you can and cannot do to collect a debt.
In a job where one wrong phrase in a collection letter or even your tone of voice over the phone can get you into hot water, you need to be confident and secure that everything you do is legally sound.

Get the essential facts for legally collecting accounts receivable
We’ve boiled down the confusing and complex world of federal collection law and through our representation.  You do not have to worry about costly mistakes. 
To contact us, and start the process of collections, click here!

Tuesday, October 6, 2015

How can I legally work in the United States

IMMIGRATION ISSUES: 
PLANNING TO WORK IN THE U.S.  

Every individual who is seeking to enter the US with the intention to work in the US needs to understand that every situation is different and that there are several paths to achieving authorized employment status.

Here are several different options for foreign nationals seeking to acquire authorization to work in the U.S.
E-1/E-2 Visa
EB-5 Visa
E Status
L-1A Visa
H-1B Visa
H-2B Visa

Some of the questions that might have:
  • What is the eligibility?
  • How do I qualify
  •  How long will it take?
  • Which one do I choose?
  • How can I obtain a green card?
  • When can I apply for US Citizenship?

These are all valid questions, and we have constructed this booklet in order guide you to take the best path for your journey to the US. In this overview of information we will discuss the most common employment based categories, eligibility criteria, application process and other important information relevant to your transition.

In some cases the prospective employer will file the corresponding documentation on behalf of the prospective employee, but in other situations the foreign national- prospective employee, will have to file on his/her own.

You have already taken the most important step towards your application, and that is to start planning ahead of time. USCIS (United States Citizenship and Immigration Services) is very strict with foreign nationals, and individuals will need to be prepared for the lengthy process that it takes to ensure that all documentation is in place. This can lead to frustration but don’t be deterred by the process, and remain calm since many others have also traveled through the same difficulties as you. Most importantly, remember that failure to enter the U.S. through the proper procedure will result in severe consequences for both the employee and the employer. Click here to read more...

Thursday, August 28, 2014

How Small Business Solutions Helps Your Small Business


By Marilyn Silverman

Are you an entrepreneur who is frustrated and perplexed and simply overwhelmed by the plethora of rules and regulations   out there and are just at your wit’s end since you don’t have the foggiest idea who you can turn to for help? You took a huge step and exited the world of 9-5 and are now anxious to attach that “Open for Business” sign on your retail establishment. But before you climb that ladder you must make an appointment with the New American Chamber of Commerce (NACC) Small Business Solutions.  NACC’s Small Business Solutions consultations are facilitated through the Law Firm of Figeroux & Associates. We have the answers. We have the expertise. We have the knowledge. We have the experience.  And we have compassion and respect for the small business owner who wants to achieve the American Dream of business ownership.

 Here’s how we can help:

   If you are running a home-based business, which incidentally, is a very popular business genre today—your office can be but a few steps away in your kitchen, bedroom, basement, attic or wherever —you might just qualify for home business tax deductions. You just started your business and already, we’re saving you money.

  If you are operating a business, you will need an accountant to help you pay your taxes every year; all those pages and pages with the tiny print, are time-consuming. Who has the time?

    If you are a savvy entrepreneur, you will most certainly want to avoid the unpleasant and scary experience of being audited. Who wants to meet with the IRS?

    If you are in business with a colleague, you will need a partnership or shareholders agreement. A handshake is not enough, even if your business partner is your spouse. You should be knowledgeable about the most preferred legal structure for your business, e.g., sole proprietorship, corporation or LLC.

   You should formulate a business plan, which is an absolute prerequisite for every single business owner—this is needed when you are hunting for funding sources; e.g., banks or venture capitalists.  You certainly are not going to dip into your pocket for cash.

   You should decide what type of accounting software would be most appropriate for your business. Is QuickBooks the right choice?

   You should either handle your bookkeeping and accounting in-house or outsource it; the latter is a cost-effective strategy since you won’t have to hire full-time staff to perform this vital function.

   You should make a determination as to who should control your business’s checkbooks. You should be aware of your sales tax responsibilities. 

   You should have an expert review your franchise agreement in the event you are interested in exploring opportunities in the exciting and lucrative world of franchising.

   In summation—under one roof, Small Business Solutions incorporates the expertise and experience of a Legal Department, a Tax Preparation and Audits Department, an Accounting and Bookkeeping Department, a Franchising Department and a Collections Department—all of the departments that will enable you to focus all your energy on attracting customers and watching your business grow. Just imagine, you are a small business and yet, you will enjoy personalized attention from departments that are an integral component of Big Business. That’s how NACC’s Small Business Solutions helps your business.   

  To set up an appointment for a Small Business Solutions consultation, call 718-834-0910.

Monday, March 10, 2014

GM Faulty Ignition Recall

GM Faulty Ignition Recall

Issue: Faulty ignition switch, loss of power
A defect in 1.4 million GM cars sold in the U.S could cause the car's engine and electrical system to shut off, and disable the air bags. For a decade GM and government safety regulators reportedly failed to address this defect which took the lives of at least 13 people in crashes where the front air bags did not deploy.

GM Chevrolet Cobalt and Other Compact Cars Recall In January 2014, GM recalled about 619,000 vehicles in the U.S., including Chevrolet Cobalts made from the 2005­7 model years and 2007 Pontiac G5 models. In February 2014 GM added its 2003­7 Saturn Ions, 2006­7 Chevrolet HHRs and 2006­7 Pontiac Solstice and Saturn Sky models to the recall.

How Fatal Accidents in Recalled GM Cars Have Occurred
The recall is aimed at vehicles with ignition switches that could inadvertently turn off the engine and vehicle electrical system if the ignition key is jarred, such as when the car goes over a bump, or the driver has a heavy key ring attached to it which can accidentally pull the key into the "off" position. While production of both cars was discontinued years ago, GM dealers will replace the incorrectly manufactured key ignition switch.

For the example, on July 29, 2005, Amber Marie Rose, age 16, died after her 2005 Chevrolet Cobalt crashed and the air bag failed to deploy. Ms. Rose's death was the first of 13 linked to the problem, and, the , "was an early warning in what would become a decade­long failure by G.M. and the National Highway Traffic Safety Administration to address a problem that engineers and regulators had been alerted to years ago."

While Fatal Accidents Occur, GM Fails to Recall the Faulty Cars
Based on a chronology prepared by GM, the New York Times added that General Motors received its first reports of engines shutting down in the Cobalt soon after it was introduced to the market in 2004, and that its employees were "able to replicate this phenomenon during test drives." GM engineers concluded a defect in the ignition meant that the key could be jostled out of the "run" position if the driver's leg hit it or if the key ring was too heavy, turning off the engine. Later in 2004, GM engineers suggested a fix, but executives rejected the fix as too costly. Instead, GM sent its dealers a technical service bulletin recommending that they advise owners to remove "unessential For nearly seven years, GM tracked Cobalt crashes in which the air bags did not deploy but did not recall the cars and fix the defect.

Legal Rights of Those Injured by Defective Cars
Automakers have a legal duty to produce cars that are safe, and promptly correct any known safety defects. Damages in personal injury lawsuits against auto manufacturers for selling defective vehicles with safety flaws include damages for: Past and future physical pain and suffering, mental anguish and physical impairment; Past and future medical, incidental and hospital expenses; Past and future loss of earnings and earning capacity; and Punitive damages in cases of egregious misconduct. If the driver or occupant was killed, surviving families members may file a wrongful death lawsuit.

Contact Figeroux & Associates
Figeroux & Associates has successfully represented persons across the New York injured in car accidents due to safety defects in the vehicle. If you or a family member have been injured in an accident linked to a faulty GM ignition key or switch, please click here to fill out the consultation form or call us at 718­-834­-0190 and ask to speak with our auto accident attorney.