Business

March 10, 2023 0

Chinatown’s Shops, Eateries Show Resiliency Amid COVID, Says Key Business Leader

Despite the obstacles faced over the COVID-19 pandemic, Chinatown’s businesses remained strong, enduring the toughest months of the outbreak. That was a key takeaway from an interview with Chinatown Business Association President Teresa Tsoi. The Sampan recently sat down with Tsoi to discuss the livelihood of the neighborhood’s shops and restaurants. Following is a lightly edited transcript: No one was prepared for the pandemic. In the Chinatown Business Association, about 98 % of the members are businesses in the Chinatown, […]

October 26, 2022 0

A Cup of Tea with Boston Chai Party

by Jeff Millman

Vishal Thapar learned early in his career about the importance of back-up plans. It was the early 2000s, and the future entrepreneur and co-founder of Boston Chai Party had recently graduated from Punjab Engineering College in India with a degree in computer science. Life was pretty good: he’d been offered a job by an American company based in Pittsburgh, and was planning to move to the U.S. as soon as the company sent him a plane ticket. Visa in hand […]

June 17, 2022 0

From Dick’s Desk at the AACA LITC

by Richard Soo Hoo

Dear Dick I file my taxes on time by April 15. Then, in no time, I get a tax notice from the IRS. Some years, I get several tax notices from the IRS These IRS tax notices are really stressful to deal with. First, it’s hard to understand what the IRS wants. The writing is technical. The paragraphs list tons of numbers and calculations of tax deficiencies, big penalties, and interest charges they say I owe. The IRS tax letters […]

May 24, 2022 0

From Dick’s Desk at the AACA LITC
(Asian American Civic Association Low Income Taxpayer Clinic)

by Richard Soo Hoo

Dear Dick Massachusetts is one of the 46 states in the US that has legalized marijuana. So, I decided to petition my City of Cambridge to open a medical marijuana dispensary. Medical marijuana can effectively treat pain, headache, muscle spasms, eye disease, and many other medical problems. I received a good deal of support locally and from the Commonwealth of Massachusetts in forming my cannabis business. That is, until I heard that the federal government still has not legalized marijuana. […]

May 24, 2022 0

Free Tax Advice and Representation for Non-English Speaking People

by Wenchen Wang

Low-Income Taxpayer Clinics (LITC) assist low-income individuals who have a tax dispute with the IRS and the Mass Dept of Revenue and provide education and outreach to individuals who speak English as a second language (ESL). According to the 2021 LITC Program Report from Taxpayer Advocacy Services, LITC represented 19,413 Taxpayers, brought 2,398 taxpayers into filing compliance, provided consultation or advice to 17,792 Taxpayers, and brought 2,990 taxpayers into collection compliance. The Asian American Civic Association (AACA) has launched the […]

May 6, 2022 0

From Dick’s Desk at the AACA LITC
(Asian American Civic Association Low Income Taxpayer Clinic)

by Richard Soo Hoo

Dear Dick I am a journeyman finish carpenter. I spent the whole week sorting through my lumber supply invoices and pay records for my construction helper. But….I am relieved. I managed to file my income tax returns by the April 15 tax deadline this year. At the same time, I am worried that the IRS is going to audit me again. I’m being audited for last year. When I went to my mailbox, I noticed a thick letter with the […]

April 27, 2022 0

From Dick’s Desk: What’s an HSA?

by Richard Soo Hoo

Dear Dick I’ve been happily working at my current job. I’m an electrician. I love my co-workers. I look forward to coming to work every day. The employee benefits are good, particularly, the health care coverage for me and my family. Everything is fine. That is, until 5 pm last Friday. My supervisor called me into the conference room. I lost my job along with 20 other employees. The company needed to cut costs to remain profitable. Since then, […]

April 12, 2022 0

Restaurant Recovery from the Pandemic

by Moninisha Yadav

As we continue to move forward after the pandemic, the U.S. unemployment rate hit a two year low of 3.6% in March of 2022. The hospitality industry was the first to be devastated by COVID 19. Restaurants are gradually recovering due to easing COVID-19 restrictions allowing for higher (in some places, even 100%) indoor capacity. However, many restaurants and small businesses are still struggling with issues like inflation when it comes to hiring employees back from when they lost millions […]

March 28, 2022 0

From Dick’s Desk

by Richard Soo Hoo

Hi, Dick- My wife and I own a vacation home on Cape Cod. We enjoy having our family, especially the grandchildren, visit and spend time relaxing on the beaches of the National SeaShore. We receive a number of inquiries from real estate brokers to rent our vacation property to tourists and vacationers. How should we handle the financial obligations from our vacation home which now has become a lucrative business situation? Sincerely, “Retired and Sunburned” Dear “Retired and Sunburned:” When […]

March 14, 2022 0

IRS: File This Year to Get Access to New Tax Credits, Benefits

by Sampan Staff

Even if you were not expecting to file a tax return for the 2021 year, the Internal Revenue Service is urging you to consider filing, as it could pay off. Literally. The IRS recently issued a notice about expanded tax credits for families and other expanded credits and benefits potentially available to many eligible filers. This includes the Recovery Rebate Credit, Child Tax Credit, Credit for Child and Dependent Care Expenses and the Earned Income Tax Credit. The expanded benefits, […]

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