What steps should you take to establish and manage intellectual property for offshore licensing? You have unique ideas, processes, mechanical inventions or even software code that you would like to license to offshore partners. This is an excellent strategy to expand your business scope and profitability, and to leverage existing...
Why Was Our Tax Return Selected for an IRS Audit?
We are often asked “Why was our tax return selected for an IRS audit?” If you have received a notification from the IRS of their intent to audit your tax return(s) your first step should be to gain an understanding of what to expect from an IRS audit. You should never...
The Quality of a Business Contract Affects the Probability of Litigation
The quality of a business contract affects the probability of litigation during any transaction or relationship it governs, and a well drafted business contract guides the parties smoothly and efficiently. We are often asked why people who use download sites are taking such a risk? The answer is quite simple:...
Deductions That Often Trigger an IRS Audit
Are there red flags or deductions that often trigger an IRS audit? What are some of the known IRS audit triggers, and what should you be considering at this time? With the end of another year approaching, many of our clients are already considering tax preparation and planning for 2022. ...
Will or Trust in Southern California – an Obvious Choice
As experienced trust and estate planning attorneys we are often asked which is better - a will or trust in Southern California? Simply stated, if you own any real estate whatsoever, or have more than a few thousand dollars in your accounts a revocable trust is almost always the least...
San Diego FBAR Lawyer Helps Foreign Nationals Comply with the IRS
Janathan Allen, our San Diego FBAR lawyer helps foreign nationals comply with the IRS and fulfill offshore financial disclosures. The penalties for US taxpayers including resident foreign nationals are quite high. Ignorance of the law is no excuse before the IRS, so the international tax attorneys at Janathan L. Allen,...
Attorney-Client Privilege is the Best Protection You Have When Dealing with the IRS
Whenever you are dealing with the IRS the Attorney-Client Privilege is the best protection a US taxpayer can employ. The Attorney-Client Privilege protects all information shared in confidence between a taxpayer and their attorney. This extends to all paperwork, notes, personal papers, cell phone calls, emails and even texts. The...
Should You Consider an Irrevocable Trust for Life Insurance
What is the best strategy for handling life insurance proceeds for your heirs and beneficiaries. It is often important to consider an irrevocable trust for life insurance proceeds to prevent your designated beneficiaries from misusing the funds you have planned and worked so hard to provide. An irrevocable trust is usually...
Can Establishing or Reviewing a Family Trust Save You Money?
Can establishing or reviewing a family trust save you money? The bucket full of cash may be understating the matter, as an effective estate plan avoids expensive and time-consuming Probate Court. The financial picture has changed for many spouses and families since they established a family trust or A-B...