Does your domestic entity have foreign assets which must be reported on the IRS Form 8938? The Foreign Account Tax Compliance Act or FATCA requires many US corporations, LLCs, trusts and partnerships which hold foreign investments or financial assets to disclose them on the form 8938. If a US trust...
States ask the IRS to Clarify New Partnership Audit Rules
The "Multistate Tax Commission" adds their voice to the discussion as states ask the IRS to clarify new partnership audit rules and how assessments and adjustments at the entity level will affect how income will be impacted at the state level. The Commission wrote a letter to the IRS requesting...
New Partnership IRS Audit Rules Will Change the Game
Is your LLC or partnership ready? The new partnership IRS audit rules will change the game for many LLCs and partnerships. LLCs and partnerships will be forced to handle IRS audits differently in the future, and Allen Barron is prepared to help you to weather the coming storm. The new...
Forming a New Business Entity in San Diego
Forming a new business entity in San Diego isn't a simple form with the Secretary of State. It isn't downloaded boilerplate corporate forms. The decision of which new entity - LLC, S Corporation, C Corporation or Professional Corporation (PC) - best suits your short and long term business objectives is...
San Diego Tax Preparation and Filing Services
Are you looking for San Diego tax preparation and filing services and a firm with the expertise to handle complex issues such as business ownership in an LLC or S Corporation, offshore investments and bank accounts, or international business interests? Allen Barron has decades of experience and service to the...
You Sign Your Tax Return Under Penalty of Perjury
Many Americans have not noticed the paragraph above their signature line on the 1040 and other IRS tax forms that notifies the taxpayer that you sign your tax return under penalty of perjury and that you have examined the return and underlying schedules. Tax returns for many US taxpayers have...
The Importance of an Operating Agreement for an LLC
Many LLCs in California are unfortunately started with downloaded forms off of legal websites. People just want to get their business up and running for the least amount possible. However, the second that your business starts to make money you have two really important problems: California law provides preference to...
Why is the Operating Agreement Such an Important Document for an LLC?
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...