Is the burden of proof on the IRS during an Audit? It might shock you to learn that the burden of proof in an IRS audit, and in most dealings with the IRS, lies with the U.S. taxpayer, not the IRS. Key Takeaways on Is the Burden of Proof on...
Blog
FBAR Requirements as a U.S. Person for an Offshore Account
What are your FBAR requirements as a U.S. person or taxpayer for an offshore account, group of accounts, property, or investment? The penalties associated with non-compliance with the reporting of offshore accounts, assets and income are quite severe. Primary Takeaways Regarding FBAR Requirements as a U.S. Person or Taxpayer With...
Corporate Governance & Compliance Preserves the Corporate Veil
Corporate governance & compliance preserves the corporate veil and is a duty of any officer of an LLC or Corporation. What is corporate governance and compliance, and why is it important to protect the integrity of the “corporate veil” throughout California and the U.S.? Important Takeaways of How and Why...
What You Need to Know About the IRS Math and Taxpayer Help Act
What do you need to know about the IRS Math and Taxpayer Help Act? What is the status of the reforms contained within the provisions of H.R. 998? Important Takeaways About the IRS Math and Taxpayer Help Act: The U.S. House of Representatives passed H.R. 998, The IRS Math and...
U.S. Taxpayers with Offshore Investments Should Be Wary of PFICs
U.S. taxpayers with offshore investments should be wary of PFICs (Passive Foreign Investment Company). Many foreign nationals live and work in the United States. For those who invest in offshore companies that generate income in a passive nature (i.e. rents, royalties, interest, income from commodities or derivative trading) are permanent...
How to Harness Accounting in Your Company to Improve Insight and Profitability
Are you searching for ways to improve the value, growth, and profitability of your business? It may surprise you to learn that one of the most profitable steps you can take is to harness accounting in your company to improve insight and profitability, while ensuring accurate payroll, reporting, and compliance....
Preparing Your Business for Sale in California
Are you considering selling your company or positioning it to be an attractive option for the right buyer? Preparing your business for sale in California takes several months and usually more than a year. In today's rapidly changing business climate, you must be ready to act quickly and efficiently, and...
The New IRS Tax Bracket Changes for 2026
The cat is out of the proverbial bag as the new IRS tax bracket changes for 2026 have been published. The IRS has released the 2026 income tax brackets for U.S. taxpayers. How will this impact the tax picture of most Americans? Key Takeaways About the New IRS Tax Bracket...
How Often Should You Adjust and Update Your Trust in California
How often should you adjust and update your trust in California? Once an estate plan is generated and your trust(s) are established and funded, aren't you finished? The simple answer is no—life changes. Finances change. The behavior and needs of your heirs and beneficiaries change. The value of assets, investments,...