By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FBAR on Friday, October 30, 2015. US taxpayers have received stern warnings from the IRS recently regarding FBAR compliance and disclosure of all offshore bank accounts, income, investments, assets and real property. Recently, many foreign banks are sending...
Expand Your Business By Acquiring a Competitor
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Business Advice and Counsel on Thursday, October 29, 2015. An excellent expansion strategy for a San Diego business is to acquire a competitor or a portion of their assets through a "stock purchase" or "asset purchase." Each strategy has...
WSJ Notes IRS Has Begun to Transmit Your Data to Foreign Countries
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FBAR on Wednesday, October 28, 2015. The Wall Street Journal recently noted information sharing between the IRS and foreign countries has begun, and the IRS is receiving information from hundreds of financial institutions and sovereign nations around the...
Dealing with tax issues? Get an attorney
On behalf of Janathan L. Allen, APC posted in IRS on Tuesday, October 27, 2015. Last week, we wrote a post about the rights people have when they are dealing with the Internal Revenue Service. These are important rights that everyone needs to know before they begin interacting with the...
The Selection of an LLC or an S Corporation or C Corporation for a New San Diego Business
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Business Formation on Monday, October 26, 2015. The selection of the entity for your new San Diego business is one of the most important decisions you will make out the outset. If your business is "for profit" you...
IRS Now Recognizing Same Sex Marriages No Matter Where They are Performed
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS on Thursday, October 22, 2015. The IRS proposed regulations yesterday based upon the recent Supreme Court ruling, recognizing same sex marriages. The IRS has recognized same sex marriages in States where they were legal since 2013. The...
IRS Warning Relating to FBAR and those with Offshore Bank Accounts and Assets
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FATCA on Tuesday, October 20, 2015. Last week was the deadline for US taxpayers who had requested extensions to file their tax returns. The following day the IRS issued Notice IR-2015-116 issuing a warning to US taxpayers with...
Over 100 Swiss Banks Alone Have Signed US FATCA Disclosure Agreement
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FBAR on Monday, October 19, 2015. The number of banks who have signed a disclosure agreement with the IRS expands monthly, and more than 100 Swiss banking institutions alone have been added to the IRS list of 50%...
Employers Must Withhold Payroll Taxes on Employment Related Judgments
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in California Tax on Friday, October 16, 2015. The California Court of Appeal recently provided clarification and confirmation of a corporation's responsibility to withhold payroll taxes on employment related settlements or judgments. When an employee reaches a settlement or...