What Is a California Water’s-Edge Election? A California water’s-edge election allows qualifying corporations to limit which members of a multinational unitary business are included when calculating California taxable income. Rather than using worldwide combined reporting, the corporation elects a narrower reporting method that generally excludes certain foreign affiliates. The election...
Legal and Tax Services for U.S. Owners of Offshore Companies
Welcome. Before You Begin: Understanding your offshore corporate ownership, U.S. tax obligations, reporting requirements, and related legal and accounting considerations requires focus. We are here to help. As you evaluate the information below, you remain in complete control of your timeline and decisions. If this material confirms a risk, raises...
Lack of Due Diligence During a Business Acquisition
Welcome. Before You Begin:Understanding the risks associated with inadequate due diligence during a business acquisition or merger requires careful attention to what was investigated, what may have been missed, and when the issue was discovered. We are here to help. As you evaluate the information below, you remain in complete...
Offshore and IRS Tax Lawyer to Protect Your Investments and Interests
International Tax Planning International Assets Create Different Tax Questions for US Taxpayers Many successful business owners and investors assume that tax planning becomes more complicated only because they own assets or conduct business outside the United States. While international investments and business interests certainly introduce additional complexity, the greater challenge...
What Is “Advisor Misalignment”
How Does It Accurately Describe a Problem Business Owners Have Faced for Decades?Business owners make important decisions every day. Some involve growth. Others involve protecting what has already been built. Purchasing commercial property, admitting a new partner, restructuring ownership, planning for succession, expanding into another state, acquiring part or all...
Planning for the Risks of a Cross Border Business
A cross border business can create significant opportunities for growth, expansion, investment, manufacturing, sourcing, and access to new markets. It can also create tax, accounting, legal, banking, reporting, payroll, customs, and regulatory obligations that do not exist in a purely domestic business.Many business owners assume that international operations simply add...
Preparing a Small Business for Sale or Acquisition
Many business owners spend years building value, strengthening operations, and growing revenue. However, one of the most important phases of the process often begins long before a buyer appears. Preparing a small business for sale requires careful planning, organization, and evaluation to ensure the company is positioned to achieve the...
How Have California FTB Tax Audits Changed in the Past Year?
The nature and practice of California tax enforcement has undergone a relatively unobserved but profound transformation over the last twelve months. While many taxpayers still envision an audit as a face-to-face meeting with a state official, the reality is that the Franchise Tax Board (FTB) has largely moved toward a...
What do U.S. Expatriates Need to Know About Taxes: IRS Publication 54
U.S. expatriates should read IRS Publication 54 - Tax Guide for U.S. Citizens and Resident Aliens Abroad. What do U.S. expatriates need to know about taxes? IRS Publication 54: Tax Guide for U.S. Citizens and Resident Aliens Abroad is an important guide that helps U.S. taxpayers understand not only their...