Why is the Operating Agreement Such an Important Document for an LLC? What are the important questions that a new business owner or entrepreneur should be considering before forming a new LLC? What advantages does an attorney bring to the process of starting a new business in San Diego? Many...
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US GAO Weighs In on IRS Audit Selection Process
The US Government Accountability Office or GAO recently evaluated the IRS audit selection process, and raised several concerns about political targeting, as well as selection criteria for small businesses and self employed taxpayers. The IRS audit selection process was found to be skewed and unfair according to the GAO report....
Supply Chain Management and Well Crafted Contracts Ensure Business Flows Smoothly
If your company purchases goods and services from other sources or vendors and integrates them into a manufactured product or integrated product bundle it is important to implement sound supply chain management. Effective supply chain management encompasses every aspect of planning, purchasing, accounting, tax planning, production, and ultimately selling the goods...
Employment Contracts Protect San Diego Employers
We are often asked why a business shouldn't download forms from a legal forms site, and just modify them internally. Employment contracts are a prime example in this conversation. Well crafted employment contracts protect San Diego employers. The two greatest risks facing San Diego employers are the misclassification of employees...
This is the Last Year FBARs will be Due to the IRS by June 30
This is the last year that the Report of Foreign Bank and Financial Accounts, or FBAR, will be due to the IRS on June 30 (for tax year 2015). When filing an FBAR for this calendar tax year, 2016, it will be due earlier than previous years - April 15, 2017. This is...
IRS Adds 7 More Swiss Banks to 50% OVDP Penalty List
The IRS has added 7 more Swiss banks to the 50% OVDP Penalty List in December, and now more than 100 Swiss banks are providing information about US taxpayers accounts and transactions directly to the IRS. For those US taxpayers who have already come into FBAR compliance with the IRS...
What is a Disclaimer Trust and Should We Consider it to Replace Our Existing Trust?
What is a disclaimer trust and should you consider replacing older trusts with a disclaimer trust? There has been a lot of conversation (and misinformation) on this topic, and it is important for our clients to understand the advantages and disadvantages of each option available to them as they plan...
IRS Tax Season Has Officially Begun
The IRS tax season has officially begun, as the Internal Revenue Service began accepting income tax returns for 2015 yesterday. Allen Barron is working with individuals and businesses to prepare and file federal and state tax returns. Remove all of the hassle of working with the IRS, the FTB or...
California Tax Return Preparation
If you need assistance with California tax return preparation or filing, or face issues with the FTB, EDD, or BOE regarding a tax collection, wage garnishment of levy we invite you to contact the experienced tax, accounting, business and legal professionals at Allen Barron. We are uniquely positioned to assist...