In our new ABCast Podcast Episode 10 - California Tax Reporting and Controversy Janathan Allen discusses 3 of the primary California tax agencies: Franchise Tax Board (FTB), the Employment Development Department (EDD) and the California Department of Tax and Fee Administration (CDTFA). In this overview of California taxation, Episode 10 -...
Why Should You Consider Transactional Planning in San Diego
Why should you consider transactional planning in San Diego? What is the best way to protect your assets while minimizing tax exposure? Transactional planning is described by our partner, Janathan Allen, as an “integrative plan which organizes an individual’s tangible or intangible assets into a structure which mitigates risk and...
Review and Update Your San Diego Trust
There are many sound reasons to review and update your San Diego trust every three years or so. Laws change, lives change, people change, businesses change, the needs of spouses and families change. The estate planning and trust attorneys at Janathan L. Allen, APC and the accounting and tax professionals...
Business Succession Planning Protects All You’re Working to Build
What is business succession planning and why is this an important and essential component of forming any new entity? Business succession planning protects all you’re working to build by ensuring sound management decision making continues if you are disabled and after your passing while assets are passed to the next...
The Primary Concerns and Considerations of an IRS Audit
What are the primary concerns and considerations of an IRS audit? What exactly is its fundamental and overriding purpose? Is it -- as an Internal Revenue Service communiqué recently stated -- "a deterrent to … potentially noncompliant taxpayers," or is it primarily and foremost a tool to generate much need...
What is an IRS FBAR and What Are You Required to Report to the IRS
What is an IRS FBAR and what are you required to report to the IRS? There are a lot of questions about the requirements for US taxpayers with accounts, investments and assets offshore as well as the exchange of financial information between the IRS and foreign institutions and tax agencies. ...
Do Not Handle an IRS Revenue Officer Interview Request on Your Own
Have you been contacted by an IRS revenue officer? You should not attempt to handle an IRS revenue officer interview request on your own. If you have received a notification in the mail requesting an IRS Revenue Officer Interview you should contact Allen Barron immediately or call today to schedule...
Why Do Many Business Owners Under-Value Accounting
Why do many business owners under-value accounting and the profound financial impact it can have on your business operations and profit. Effective accounting strategies reduce tax exposure and provide the critical data necessary to prevent or defend against an IRS or California tax audit. Of course they capture information for...
Is a PFIC Still a Good Investment Strategy
We are often asked "Is a PFIC still a good investment strategy based upon IRS taxation and recent offshore developments?" The answer is simple: the income it generates must be substantial enough to pay a heavy tax which the IRS levies on PFICs. The Passive Foreign Investment Company or PFIC...