The New IRS Revenue Recognition Standard Takes Effect Later This Year

The New IRS Revenue Recognition Standard Takes Effect Later This Year

The new IRS revenue recognition standard is scheduled to take effect December 15 of this year for publicly traded corporations.  Most other businesses must comply to the new standard after December 15, 2018.  The rules allowed for early adoption of the new IRS revenue recognition standard for those who would benefit as soon as December […]

Hold On as Washington Turns its Focus to a US Corporate Tax Overhaul

The Wall Street Journal (WSJ) noted today that the focus in Washington will now turn to a tax overhaul.  How will the various parties in the capital focus on US corporate tax overhaul and will a border tax become reality?  How will this impact your business?  According to the WSJ the US has one of […]

What to Ask of Your San Diego Tax Preparer

What should you ask of your San Diego tax preparer and when is it important to look for help with preparing your taxes?  Let’s begin with the last question first.  If your income falls below $64,000 the IRS provides a free filing option, and that’s probably best for those situations.  If you are single or […]

IRS Large Business and International Division Targeting TEFRA Violations

The IRS Large Business and International Division (LB&I) will be targeting TEFRA violations in partnerships based upon recent changes in partnership related tax law.  TEFRA (The Tax Equity and Fiscal Responsibility Act of 1982) regulations applying to partnerships created a set of consolidated IRS audit (examination), processing and judicial procedures which determine the tax implications of […]

IRS Focusing on Transfer Pricing and Offshore Earnings says Wall Street Journal

In a recent article the Wall Street Journal warned that the IRS had released information about 13 “campaigns” to target high-value tax returns for IRS audit.  The IRS intends to focus upon  and international businesses transfer pricing and offshore earnings and the compliance with IRS FBAR reporting and offshore account and income disclosures.  Allen Barron […]

An Experienced Business Adviser and Consultant

Why does every Olympic athlete still need a coach?  Every professional sport in America has a coach or group of coaches who help the athletes to increase their skill and knowledge while improving their performance.  The same is true for San Diego business owners.  Like a professional athlete every business owner needs an experienced business […]

The Risk and Reward of International Business and Tax

Many would summarize business in the new millennium as the risk and reward of international business and tax as global trade expands.  The political winds weigh heavy upon the minds of many San Diego international business owners and corporate managers as they search for the best path forward.  The questions relating to proposed changes in […]

How will International Business Change in the Coming Months?

The question of the hour for many multi-national conglomerates and San Diego businesses with international distribution and supply channels is “How will international business change in the coming months?”  The answer is surrounded in a cloud of Washington posturing and floated proposals.  One thing seems certain: The United States Government and the IRS want to […]

What is more dangerous to Your Business Than an IRS Audit?

What could be more dangerous to your business than an IRS audit in San Diego?  The failure to accurately collect and submit payroll related taxes and deductions may genuinely challenge more local small and mid-sized businesses than an IRS audit.  If you have employees, your company is required to withhold taxes for Medicare and Social […]

The IRS OVDP May Still be a Viable Option for Unreported Offshore Accounts

There is a lot of conversation nationally about IRS FBAR compliance and those who have not yet complied.  Many US taxpayers may be wondering if the IRS OVDP may still be a viable option for unreported offshore accounts and assets.  The answer is a qualified “yes.”  The reality is the power and reach of the […]

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