US taxpayers must be aware of the challenges of offshore investment accounts as they relate to tax liability and the ramifications of FATCA and compliance with IRS FBAR reporting. The greatest risk to US taxpayers with offshore investment accounts may be the complex accounting and legal distinctions regarding foreign investments...
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Responsibility of Amazon and Online Sellers to Indemnify California Prop 65
What is the responsibility of Amazon and online sellers to indemnify California Prop 65 risk for the platforms they wish to sell upon? Proposition 65 (often referred to simply as “Prop 65”) enforcement continues to grow increasingly challenging for those who sell products in online portals. This is especially true...
Starting a new Limited Liability Corporation in San Diego
There is a lot for a new business person to learn when starting a new Limited Liability Corporation in San Diego or Southern California. Getting your start-up business going and becoming profitable is a challenge for any business person. The experienced business advisers and attorneys at Allen Barron provide much...
What Happens if a San Diego Business Doesn’t Comply with the IRS
What happens if a San Diego business doesn’t comply with the IRS and all filing and reporting requirements? Can you face criminal prosecution or be held personally liable if your company makes a mistake with the IRS? Generally speaking, an officer of a corporation may risk personal liability for their...
How Was I Identified for an IRS Audit in San Diego
We are often asked “How was I identified for an IRS Audit in the first place?” There are a number of issues which could trigger an IRS audit. Generally speaking, the IRS develops targets for enforcement each year based upon consistent areas of under-reported income, underpaid tax or areas where...
Parents Who Wish to Establish a Living Trust
Parents who wish to establish a living trust need sound financial and legal advice and counsel. Living trusts are a hot topic for many parents these days. If you have children and want to set forth a financial foundation for their futures that protects them and their assets from bad...
Digital Currency as a Tax Dodge – The Reality of Crypto and the IRS
Many US citizens and expatriates are considering digital currency as a tax dodge and a way to hide income and assets from the IRS. The reality of cryptocurrency or “Crypto” and the IRS may shock you. Crypto myths and schemes abound, but what are the genuine facts? If you are...
Indemnification for California Prop 65 for All Channels of Distribution
Individuals and small businesses who sell through distribution channels such as Amazon E-Bay, Etsy and others should be concerned about indemnification for California Prop 65 exposure. Allen Barron is cautioning all business entities regarding their legal responsibility and liability to indemnify online platforms regarding California Prop 65 exposure for all...
Important Facts About Buy Sell Agreements
There are many facts about buy sell agreements which new companies, LLCs and partnerships in San Diego need to consider. The integrated tax, legal, accounting and business advisory team provide sound counsel to those who are forming a new business. We help to prepare a great number of documents for...