Happy New Year to our clients and all of San Diego as we complete 2021 and look into the more promising outlook of 2022. 2021 provided substantial growth, opportunity and profit for many of our clients. In the midst of COVID challenges there have been great opportunities for developing new...
If You Own a House in San Diego You Should Have a Trust
If you own a house in San Diego you should have a trust and an estate plan to avoid the substantial expense of probate, protect your assets and ensure your beneficiaries receive the benefit of your wishes. All assets, including your home, that are not protected by a trust must...
Come Into Compliance with IRS and FBAR Reporting
What should you do if you need to come into compliance with IRS and FBAR reporting? There are 3 options for coming into compliance with your obligation to report offshore asset holdings: The Voluntary Disclosure Practice or VDP, the Streamlined Filing Compliance Procedures or SFCP, or the delinquent FBAR and...
Reduce Capital Gains When Selling a San Diego Business
There are several strategies to reduce capital gains when selling a business in San Diego or anywhere in California. This will require important steps to be taken prior to the completion of the transaction, as well as implications based upon the application of the proceeds. The structure of the transaction...
Why Do You Need a San Diego IRS Audit Lawyer
Why do you need a San Diego IRS audit lawyer? If you have been notified of an IRS audit through a notification letter take a deep breath. It is possible to keep the IRS in check, and come out of an audit with a "no changes" letter. Work with a...
The Primary Concerns and Considerations of an IRS Audit
What are the primary concerns and considerations of an IRS audit? What exactly is its fundamental and overriding purpose? Is it -- as an Internal Revenue Service communiqué recently stated -- "a deterrent to … potentially noncompliant taxpayers," or is it primarily and foremost a tool to generate much need...
A Simple Will is Not Enough for Most in San Diego
It may surprise you to learn a simple will is not enough for most in San Diego. Some people think that since they have a will all of their assets will be distributed according to their wishes as a simple transaction. Unfortunately, things are rarely that simple and wills are...
Do Not Handle an IRS Revenue Officer Interview Request on Your Own
Have you been contacted by an IRS revenue officer? You should not attempt to handle an IRS revenue officer interview request on your own. If you have received a notification in the mail requesting an IRS Revenue Officer Interview you should contact Allen Barron immediately or call today to schedule...
There is No Client Privilege for the Client of a CPA
It may surprise you to learn there is no client privilege for the client of a CPA, accountant, tax preparer or financial professional. What is client privilege and how is this important in the context of your relationship with your accountant, bookkeeper or CPA? Client privilege is a legal protection...