Allen Barron, Inc.

Category: Content
Type: Blog Article

Generated 4 days ago

New blog articles detected

  • San Diego Tax Preparation and Filing Services

    Are you looking for San Diego tax preparation and filing services and a firm with the expertise to handle complex issues such as business ownership in an LLC or S-Corporation, offshore investments and bank accounts, or international business interests?  Allen Barron has decades of experience and service to the San Diego community and provides tax […] The post San Diego Tax Preparation and Filing S...

  • Department of Labor 6 Guidelines for Evaluating 1099 Workers

    The US Department of Labor issued 6 guidelines for evaluating 1099 workers in an attempt to help clarify its increased focus on employee misclassification.  How do you know if a 1099 independent contractor should actually be classified as an employee?  The first challenge is the simple reality that most business owners who utilize 1099 workers […] The post Department of Labor 6 Guidelines for Eval...

  • You Sign Your Tax Return Under Penalty of Perjury

    Many Americans have not noticed the paragraph above their signature line on the 1040 and other IRS tax forms that notifies the taxpayer that you sign your tax return under penalty of perjury and that you have examined the return and underlying schedules.  Tax returns for many US taxpayers have become much more complex, especially […] The post You Sign Your Tax Return Under Penalty of Perjury appea...

  • Don’t Provide the IRS any more Information than Absolutely Necessary

    If we could give one piece of advice to all US taxpayers it would be this: don’t provide the IRS any more information than absolutely necessary to complete your tax return and any associated forms or worksheets.  If they don’t ask for it, don’t provide it.  If the IRS asks you for additional information this […] The post Don’t Provide the IRS any more Information than Absolutely Necessary appeared...

  • Tuning Up Your San Diego Business

    It’s human nature to take the “if it ain’t broke, don’t fix it,” attitude and this extends to allowing areas of a business to simply evolve and develop without scrutiny.  This is why tuning up your San Diego business is an important part of leadership for members in an LLC and shareholders in a corporation. […] The post Tuning Up Your San Diego Business appeared first on Allen Barron.

  • Border Tax Debate Heats Up

    The border tax debate heats up as more and more business leaders descend on Washington to meet with lawmakers to express concerns.  Speaker of the House Paul Ryan was quoted as saying ““[The border adjustment tax is] putting American-made products at a huge advantage. There’s a built-in bias in our tax code to outsource and […] The post Border Tax Debate Heats Up appeared first on Allen Barron.

Allen Barron, Inc.

Category: Content
Type: Blog Article

Generated 1 week ago

New blog articles detected

  • Additional IRS Audit Red Flags for Tax Return Season

    It’s tax season again, and the IRS has acknowledged additional IRS audit red flags to be cautious of on your 2016 tax return.  Many of the IRS audit targets are not handled well by off-the-shelf “turbo” software solutions, so it is best to work with the tax preparation experts at Allen Barron.  We prepare taxes […] The post Additional IRS Audit Red Flags for Tax Return Season appeared first on All...

  • International Business Tax Returns Require Insight and Expertise

    There are many businesses with global interests here in San Diego.  Tax time can be especially challenging as international business tax returns require insight, experience and expertise.  The international business and tax attorneys at Allen Barron provide a comprehensive palette of services including tax, accounting, legal and tax return preparation to help international businesses to […] The po...

  • Record Number Renounce Their US Citizenship in 2016 Due to US Taxation of Worldwide Income

    The US Treasury Department published the latest list of those who renounced their US citizenship in 2016.  The recent spike in renounced citizenships has been tied to US taxation of worldwide income for all US residents and taxpayers.  5,411 individuals renounced their US citizenship in 2016, and while this may not sound like a large […] The post Record Number Renounce Their US Citizenship in 2016...

  • If You Owe the IRS More than $50k You’re About to Lose Your Passport

    If you owe the IRS more than $50k you are about to lose your passport.  The US Congress passed legislation in December requiring the IRS to provide a list to the US State Department of all US taxpayers who owe the IRS $50,000 or more.  If you owe the IRS more than $50k you should […] The post If You Owe the IRS More than $50k You’re About to Lose Your Passport appeared first on Allen Barron.

Allen Barron, Inc.

Category: Content
Type: Blog Article

Generated 2 weeks ago

New blog articles detected

  • Every San Diego Homeowner Should Have a Trust

    We have often written that every San Diego homeowner should have a trust due to the high costs of probate and the time involved.  Yet most San Diegans don’t even have a will, let alone an estate plan which includes a trust.  What should a homeowner know and why should they go through the process […] The post Every San Diego Homeowner Should Have a Trust appeared first on Allen Barron.

  • IRS Audits Target S-Corporation Losses

    Two additional campaigns result in focused examinations as IRS audits target S-Corporation losses and “Basket” transactions.  A separate “campaign” has been structured to target S-Corporation losses that exceed basis for that company.  The IRS has organized internal professionals with specialized expertise to target heavy losses and deductions in S-Corporations, who by their nature pass through in...

  • IRS Launches New Campaigns to Focus Vertical Market Expertise on Tax Revenue Generation

    The IRS launches new campaigns to focus vertical market expertise on tax revenue generation and compliance.  Each “campaign” aligns internal IRS expertise on specific issues with the goal of “focused examination” (read: audit) on targeted matters.  What are the 13 business related IRS audit campaigns and how will they affect San Diego businesses? The first […] The post IRS Launches New Campaigns t...

Allen Barron, Inc.

Category: Content
Type: Blog Article

Generated 3 weeks ago

New blog articles detected

  • GE Outsourcing Tax and Some Accounting A Good Model According to WSJ

    An article this week in the Wall Street Journal noted General Electric (GE) had executed a strategy for outsourcing tax and some accounting services that other corporations are sure to follow.  GE has decided to implement a “tax outsourcing” plan that will move internal employees to an external tax and accounting firm.  The reason for […] The post GE Outsourcing Tax and Some Accounting A Good Mode...

  • If You Have 1099 Workers in San Diego …

    If you have 1099 workers in San Diego you might want to revisit the relationship between your company and those independent contractors.  The State of California and federal agencies like the IRS are taking a close look at all employers who have 1099 workers looking for misclassified employees.  A landmark case in the US Supreme […] The post If You Have 1099 Workers in San Diego … appeared first o...

  • W2 and 1099 – Its Tax Preparation Time Again

    We all should have received our W2 and 1099 statements, it’s tax preparation time again in San Diego.  The tax preparation, accounting and tax attorneys at Allen Barron are prepared to help you to get through tax season.  We specialize in helping those with more substantial returns, and those with higher risk of an IRS […] The post W2 and 1099 – Its Tax Preparation Time Again appeared first on All...

  • Updates on Offshore Investments and IRS FBAR Reporting Requirements

    The world is still unpacking the impact of FATCA and the IRS’ intent to track offshore bank accounts, investments and corporations.  The result is continuing pressure on offshore investments and IRS FBAR reporting requirements including PFIC tax calculations and the continuing expansion of 50% penalties on specific institutions identified by the IRS as “helping US […] The post Updates on Offshore ...

  • New International Corporate Tax Discussions Unfold in US Congress

    While new international corporate tax discussions unfold in the US Congress, American businesses brace for a tax scheme that could change some of the fundamentals of international business and associated Effective Tax Rates or ETRs.  The majority party in Congress favors a “destination-based cash flow tax.”  Are we really moving toward a Value Added Tax […] The post New International Corporate Tax...

  • Passing Assets and Accounts to Your Heirs

    Passing assets and accounts to your heirs and beneficiaries in the shortest time and with minimal or no tax consequence requires expert estate planning.  Allen Barron is uniquely structured to provide a single-source legal, estate planning, accounting and tax solution for complex family trusts, business succession planning and estate plan preparation and review in San […] The post Passing Assets a...

  • New IRS 1099 Forms and How to Handle Them

    While 1099 forms may be old news for most of us, the new IRS 1099 forms are bringing new questions to an old subject.  Let’s review.  If any person does work for a business, company, or for you personally and you pay them more than $600 in a calendar year they payor is required to […] The post New IRS 1099 Forms and How to Handle Them appeared first on Allen Barron.

  • Israeli High Court Rules US Citizens in Israel Must Comply with FBAR

    The Israel Supreme Court ruled that US citizens in Israel must comply with FBAR and all IRS reporting requirements and the consequences of FATCA.  Israeli banks, investment houses and financial institutions have already begun to report the detailed personal and financial balance and transaction information regarding the “beneficial ownership interest” of those accounts directly to […] The post Isr...

  • Transfer Pricing a Central International Tax Issue

    What makes transfer pricing a central international tax issue and how does this affect San Diego area businesses?  Transfer pricing is the allocation of income or loss between members of a “controlled group.”  From the IRS’ point of view, a company is part of a controlled group when the relationship between the two businesses is […] The post Transfer Pricing a Central International Tax Issue appea...

  • Advisory Services for the Life of your San Diego Business

    Allen Barron provides advisory services for the life of your San Diego business from start-up, through growth and acquisition through the ultimate sale or disposition of your company.  Our seasoned and experienced CEO and CFO consultants have international experience running small, mid-size business and international publicly traded conglomerates.  If you are a San Diego business […] The post Advi...

Allen Barron, Inc.

Category: Content
Type: Blog Article

Generated 5 months ago

New blog articles detected

  • IRS Audit Representation in San Diego

    Are you facing an IRS audit?  Janathan Allen and the attorneys at Allen Barron provide IRS audit representation in San Diego and Southern California.  The first step is to download our free guide “What to Expect from an IRS Audit” and learn about the process of the IRS audit and important information regarding how to […] The post IRS Audit Representation in San Diego appeared first on Allen Barron...

  • International Challenges Facing San Diego Businesses

    Allen Barron is uniquely positioned to support and advise international San Diego business owners and corporations.  There are substantial international challenges facing San Diego businesses as well as those who wish to bring their business opportunities to the United States.  San Diego is home to a large number of H1-B visa holders and foreign nationals […] The post International Challenges Faci...

  • What Happens if the IRS Rejects your FBAR Streamlined Application

    Did you file an application under the IRS Streamlined Domestic (Foreign) Offshore Procedures?  What happens if the IRS rejects your FBAR streamlined application and claims of non-willful conduct?  What actions have been taken by the IRS that concern the attorneys at Allen Barron? Let’s begin with the last question first.  The IRS recently closed a […] The post What Happens if the IRS Rejects your ...

Allen Barron, Inc.

Category: Content
Type: Blog Article

Generated 5 months ago

New blog articles detected

  • Legal and Tax Advice When Selling a Business

    What do you need to know if you intend to sell your San Diego business?  It is important to have integrated legal and tax advice when selling a business to ensure maximum net profit and to limit contingent liability.  Allen Barron is uniquely positioned to advise business owners when they are considering a transaction to […] The post Legal and Tax Advice When Selling a Business appeared first on A...

  • Should You Report Previous Offshore Income Through an FBAR Voluntary Disclosure

    A storm is on the horizon for those who fail to report offshore financial activity to the IRS.  We are often asked by clients, especially foreign nationals who live and work here in the San Diego area, if they should report previous offshore income to the IRS through an FBAR voluntary disclosure program.  In some […] The post Should You Report Previous Offshore Income Through an FBAR Voluntary Dis...

  • Will the US House Limit IRS Ability to Seize Your Bank Account

    The US House of Representatives is expected to vote on a broadly supported bill this week that is designed to limit IRS ability to seize your bank account and freeze assets.  The constitutional power given to the IRS to aid in the collection of unpaid taxes is known as “Civil Asset Forfeiture.”  Under this overwhelming […] The post Will the US House Limit IRS Ability to Seize Your Bank Account app...

  • IRS Audits Focused on Small Businesses with Questionable Tactics

    According to recently released information, the news source noted a significant increase in IRS audits focused on small businesses targeting $200,000 to $400,000 income rages.  The IRS has been accused of some very questionable tactics as they attempt to gather information to show that small businesses are under-reporting income, especially income received in cash.  Many observers […] The post IRS...

  • What is a Trust

    What is a trust and how can it help you to protect your investments and assets such as your home?  A trust is a separate legal entity that holds property and assets for the benefit of another party.  In most cases a trust is utilized to reduce liabilities and a creditor’s access to your assets. […] The post What is a Trust appeared first on Allen Barron.

Allen Barron, Inc.

Category: Content
Type: Blog Article

Generated 5 months ago

New blog articles detected

  • Why Should a Foreign National Working or Residing in the US Care about FBAR Compliance

    Why should a foreign national working or residing in the US care about IRS FBAR compliance?  “None of my friends or associates are aware of this or worried about it…” is a sentiment we often hear.  Unfortunately, the IRS isn’t interested in what a foreign national working or residing in the US understands about their […] The post Why Should a Foreign National Working or Residing in the US Care abo...

  • The IRS Statute of Limitations on Collections Can Be Longer than 10 Years

    What is a “statute of limitations” and how does it apply to debts you to the IRS?  If you are a target of IRS collections, how long does the IRS have to collect a valid tax debt?  Is it possible for the IRS statute of limitations on collections to be longer than the 10 year […] The post The IRS Statute of Limitations on Collections Can Be Longer than 10 Years appeared first on Allen Barron.

  • Appeal of FBAR Willful Violation Civil Penalty to 5th Circuit

    In a technical legal move Bernhard Gubser, a dual US / Swiss citizen, asked the 5th Circuit Court to hear an appeal of his case against the IRS regarding a $1.4 Million FBAR willful violation civil penalty case which was tossed out by a lower court earlier this year.  Mr. Gubser claims to have omitted […] The post Appeal of FBAR Willful Violation Civil Penalty to 5th Circuit appeared first on Alle...

  • IRS to Target Income from UBER, AIRBnB and other Sharing Income Sources

    What would cause the IRS to target income from Uber, AIRBnB and other sharing forms of income?  American University in Washington D. C. published a recent study that notes 2.5 million Americans earn income from Etsy, Uber, AIRBnB and other sources of “sharing” that presently go unreported.  The IRS realizes this is tremendous income stream […] The post IRS to Target Income from UBER, AIRBnB and ot...

  • What Impact will IRS Impeachment Hearings Have on San Diego IRS Audits?

    There is considerable energy on capital hill to impeach the commissioner of the Internal Revenue Service (IRS) John Koskinen.  Mr. Koskinen was brought in to replace Daniel Werfel after he and a subordinate, Lois Lerner, were forced resign after substantiated allegations that the IRS had inappropriately targeted members and organizations associated with the “tea party” organization. […] The post W...

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