By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Trusts on Monday, July 21, 2014. San Diego residents should review all trusts every 3 to 5 years. Trusts provide extensive protection from the costs and expense of probate, while shielding assets and income from unnecessary taxation. Recent...
What If You Didn’t File Required IRS FBARs?
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FATCA on Tuesday, September 9, 2014. What should you do if you have foreign investments or accounts and you have not filed the Foreign Bank Account Report or "FBAR" with the IRS? This is can be a complex...
Selling items online: What needs to be reported to the IRS?
On behalf of Janathan L. Allen, APC posted in IRS on Friday, December 19, 2014. Online shopping is quickly becoming the preferred method of gift buying at Christmas and nearly any other time of year. Americans love the convenience and competitive prices, and they can often find things online that...
How does the Latest FTB Notice Affect You?
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Tax Services on Wednesday, September 17, 2014. On 2 September 2014, the California's Franchise Tax Board issued a notice to California residents that a new state law permits taxpayers to immediately exclude from their income the amount of...
IRS comes calling for the Jackson estate after valuation gripe
On behalf of Janathan L. Allen, APC posted in Audits on Wednesday, February 12, 2014. Michael Jackson was larger than life, but even in his death he remains in the headlines. Sadly, the headlines haven't been too uplifting, and the most recent example of this only strengthens that sentiment. The...
Bitcoin labeled as property by the IRS
On behalf of Janathan L. Allen, APC posted in IRS on Wednesday, March 26, 2014. Bitcoin has been in the news quite a bit recently, as the controversial virtual currency continues it's up-and-down trend after being released in 2009. Bitcoin is an unregulated virtual currency that can be sent from...
New study shows wide range of taxes depending on where you live
On behalf of Janathan L. Allen, APC posted in Tax Controversy on Friday, March 21, 2014. A new analysis of the taxes that people pay all across the U.S. shows that California residents are second only to New York residents when it comes to paying the federal government the most...
Proposed incentives to keep California film industry competitive
On behalf of Janathan L. Allen, APC posted in Back Taxes or Tax Debt on Friday, March 14, 2014. Certain California legislators hope to expand upon the film and TV tax credit program in our state. Lawmakers introduced a bill that was intended to address problems associated with the current...
IRS audits will be even more of a rarity this year
On behalf of Janathan L. Allen, APC posted in Audits on Wednesday, April 16, 2014. Tax Day has come and gone. All of those feelings of dread because you may have procrastinated doing your taxes how now turned into different feelings of dread -- the fear of being audited. While...