Should you amend an error in a previous IRS tax filing or just let it go and hope the agency doesn't notice? We are a few weeks from the annual deadline for most U.S. taxpayers to file tax returns, and it may surprise you to learn how often U.S. taxpayers...
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San Diego FBAR and IRS Tax Attorney Helps Foreign Nationals Comply
Janathan Allen, our San Diego FBAR and IRS tax attorney, helps foreign nationals comply with FinCEN and the IRS, and fulfill offshore financial disclosures and tax reporting requirements. The penalties for U.S. taxpayers who fail to fully disclose and report offshore income and assets, including resident foreign nationals, are quite high....
Beware of the “Hidden Tax Trap”
The Hidden Tax Trap: How California Non-Conformity with the IRS Impacts Business Tax Planning What is the "Hidden Tax Trap" and why should you be aware of non-conformity between California tax laws, and those at the federal level? Business owners tend to make tax-related decisions with a presumption that a...
International Business Tax Returns Require Extensive Skill and Knowledge
There are many businesses with global interests here in San Diego. Tax time can be especially challenging as international business tax returns require extensive skill and knowledge, as well as experience. The international business and tax attorneys at Allen Barron provide a comprehensive palette of services including tax, accounting, legal...
Parents Who Need to Establish a Living Trust
The decision to provide lasting legal protections for one's children, other family members, friends, and the causes that are important to you is one of the most significant protective measures one can take for their family. Getting Started with Parental Estate Planning For parents who need to establish a living...
Strategies to Reduce Capital Gains When Selling a California Business
The decision to sell a business can be driven by timing, market conditions, or long-term planning. What many owners underestimate is how much of the outcome is determined not by the sale price, but by what remains after taxes. The effort to reduce capital gains when selling a California business...
The Challenges of Offshore Investments
International investing can provide diversification and access to global markets, but U.S. taxpayers must understand the regulatory and tax compliance obligations that accompany offshore holdings. The challenges of offshore investments often arise not from the investments themselves, but from the complex reporting requirements imposed under U.S. tax law. Failure to...
The Need for an Experienced California EDD Audit Attorney
The California Employment Development Department (EDD) regularly audits corporations with operations within the state. You need an experienced California EDD business audit attorney to protect you during an EDD audit, especially if you have 1099 workers. Key Takeaways About the Need for an Experienced California EDD Audit Attorney: A business...
Ignorance of FBAR Reporting and Worldwide Income Disclosure is No Excuse for a U.S. Taxpayer
Our offices have handled many cases of U.S. taxpayers, expatriates, and foreign nationals and spouses who live and work in the United States, with offshore accounts, assets, investments, business interests, or income. Many were not aware the U.S. taxes all income, worldwide. U.S. taxpayers are required by law to understand...