What is the statute of limitations for an IRS audit? What rules extend the window for an IRS audit? How long does the IRS usually have to complete an audit of your taxes? Everyone may have a little fear in the back of their minds while filing their taxes, perhaps...
Tax and Estate Planning for Small Business Owners and S Corporations with No Employees
Allen Barron provides tax and estate planning for small business owners and S Corporations without employees as part of our integrated tax, legal, estate planning, accounting and business advisory services. Many small business owners mistakenly believe business succession planning and estate planning is for those with substantial wealth. This is...
You Sign Every Tax Return Under The Penalties of Perjury
Many Americans have not noticed the paragraph above their signature line on the 1040 and other IRS and state tax forms, which notifies the taxpayer that they signed their tax return "under the penalties of perjury" and that they had examined the return and underlying schedules. The "Sign Here" block...
When Should You Consider Tax Preparation Services at Allen Barron
When should you consider tax preparation services at Allen Barron? What should you ask of our San Diego tax preparers? If your Adjusted Gross Income (AGI) falls below $73,000 the IRS provides a free filing option, and that's probably best for those situations. If you are single or married,...
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...
S Corporation Owners Should Understand IRS Strategies for Compensation Audits
One of the primary targets for IRS audits is S Corporation compensation. S Corporation owners should understand IRS strategies for compensation audits and work with Allen Barron to reduce these risks while minimizing tax and maximizing income opportunities. One of the most contentious issues is "reasonable compensation." The IRS guidelines...
Tax Preparation for S Corporation Shareholders
Tax preparation for S Corporation shareholders is quite complicated. While there are substantial advantages for many owners or shareholders of an S Corporation there are also substantial risks which can lead to an IRS audit. Corporations which elect subchapter S tax status allow income to pass through to the shareholders...
Additional Information on Pass Through Business Income Deductions in the New Tax Reform
We are constantly asked for additional information on pass through business income deductions in the new tax reform package. While new tax laws have yet to be formally published, there has been a significant change for those who file as a partner, member or sole proprietor which receives income from...
The IRS Begins Accepting 2017 Tax Returns
The IRS begins accepting 2017 tax returns as tax season is upon us. Allen Barron is uniquely structured to prepare and file your international, domestic, business and personal tax returns. Our tax attorneys are supported by Allen Barron's accounting professionals as we work toward this year's deadline of April 17. ...