Foreign nationals living and working in California—particularly in cities like San Diego, Los Angeles, San Francisco, and San Jose (Silicon Valley)—are often surprised by how quickly U.S. tax obligations can apply. Whether you entered the United States on an H-1B visa, L-1 visa, O-1 visa, or another employment-based visa, it...
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...
When is a US Taxpayer Required to Disclose Offshore Accounts on an FBAR and Form 8938
When is a US taxpayer required to disclose offshore accounts on an FBAR and IRS Form 8938? While many US taxpayers and expatriates have come to understand the requirements of the FinCEN Form 114 or FBAR, a surprising number still need to understand the risk they are taking when they...
IRS FBAR Compliance Saves You a Lot of Money
Did you know that IRS FBAR compliance saves you a lot of money? IRS FBAR compliance ensures you disclose all information about offshore accounts, assets, balances and transactions before the IRS comes knocking on your door for an audit. If you have undisclosed offshore accounts, the IRS will. There are...
FBAR Preparation and Filing to Ensure Compliance
Allen Barron provides extensive tax expertise and assistance with FBAR preparation and filing to ensure compliance with all IRS requirements. If you have offshore bank accounts, investments, assets or own or control a portion of a foreign corporation you must be in full compliance with the IRS or face a...
Many Half Efforts By Business Owners Will Result in Prop 65 Penalties and Litigation
As the deadline of August 30 approaches for California Proposition 65 (Prop 65) compliance I continue to be amazed at the general disregard which many business owners seem to be taking with regard to their responsibilities, exposure and substantial financial risk associated under the oft misunderstood measure. Many half efforts...
Are US Expats Facing a Tax Increase as a result of Tax Reform
While the details of the tax reform passed last year are still being unpacked, are US expats facing a tax increase as a result of tax reforms passed last year? The United States is one of the only countries in the world who taxes US taxpayers based upon global income, no...
FBAR Related Charges Will Put Paul Manafort Behind Bars
While facing a slew of federal charges including conspiracy against the United States the FBAR related charges will put Paul Manafort behind bars. The charges against the former campaign manager and his aid are serious in their very nature, but it is interesting that one of the central issues associated...
San Diego Corporate Governance and Compliance to Protect the Corporate Veil
You must maintain active and persistent San Diego corporate governance and compliance to protect the corporate veil of your company from creditors. There are many tasks which must be fulfilled throughout the year to comply with California's corporate governance and compliance issues. Many companies have an established governance and compliance...