The President's new corporate tax proposal rate of 15% may actually prove to create tax shelters for US taxpayers that would extremely difficult for the IRS to detect or pierce. At issue is the proposed 35% top individual tax rate and the 15% corporate tax rate which would apply to income...
The IRS Has a Separate Team to Evaluate Transfer Pricing Transactions
The IRS has a separate team to evaluate transfer pricing transactions and cross-border business dealings for international businesses here in San Diego. If you are conducting cross-border transactions, or have multiple companies and transfer goods, services, or intangible assets between these affiliated companies you need the guidance and services of...
Would Trump’s Tax Plan Cost Californians?
Would Trump's tax plan cost Californians and raise our taxes? There are too many trial balloons and false starts coming out of Washington on the "tax" front, but we are monitoring these developments and advising clients as they navigate the complex issues facing today's business owners. The latest income tax...
High Profile Trial May Shed Light on Willful Conduct in IRS FBAR Cases
A Pennsylvania Court has denied motions by both parties to dismiss a high profile trial which may shed light on willful conduct in IRS FBAR cases for US taxpayers. The CEO of a pharmaceutical company was accused by the IRS of willful failure to disclose Swiss bank accounts on his...
IRS FBAR Compliance for Canadian and Mexican Nationals in the US
If you live or work in the United States it is your responsibility to understand tax laws. This is why Allen Barron has been a leader in IRS FBAR compliance for Canadian and Mexican nationals living and working in the US. Many foreign nationals who reside or work here in...
The Success of a Transaction is Directly Related to the Business Contract that Governs It
The success of a transaction is directly related to the business contract that governs it and the extent to which it covers every possible detail. The biggest mistake any small business person can make is to attempt to download important business contracts from an online forms site, or worse, attempt...
Why is an Estate Plan Important for All San Diegans?
What is estate planning and why is an estate plan important for all San Diegans? The answers in the end are quite simple: time and money. Do you own your home? Do you own a business or an interest in a local company? If so, an estate plan will save...
Federal and State Tax Returns are Due Tomorrow
Well, tax day is finally here and for last minute filers there is one more day as Federal and State tax returns are due tomorrow April 18. Allen Barron provides on-going tax preparation and filing services for businesses and business owners, the self-employed and high income earners, as well as...
Last Minute Tax Tips to Avoid IRS Audit Red Flags
The deadline for filing your tax returns is quickly approaching on Monday, April 18th. Here are some last minute tax tips to avoid IRS audit red flags that create trouble down the road: Make sure your math is correct. This one appears to be obvious, but math errors deeply trouble...