Allen Barron, Inc.
Allen Barron, Inc.
Blog Post
  • Tax attorneys and CPAs across the nation are beginning to understand the 20 percent pass through deduction contained within the recent tax reform, but it will still be months before the final law will be written and the IRS will weigh in on how it will actually be put into use.  However, most business owners […] The post Beginning to Understand the 20 Percent Pass Through Deduction appeared first ...

Allen Barron, Inc.
Allen Barron, Inc.
Blog Post
  • 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 matter where they live or […] The post Are US Expats Facing a Tax Increase as a result of Tax Reform appeared first on Allen Ba...

Allen Barron, Inc.
Allen Barron, Inc.
Blog Post
  • A recent court decision may provide taxpayers relief and protection from IRS collection of FBAR penalties based upon a 3 year statute of limitations.  The US Tax Court has issued its first decision of 2018 which considered whether FBAR related collections by the IRS could go back six years.  The Court found the IRS could […] The post New Case May Offer Some Protection from IRS Collection of FBAR P...

Allen Barron, Inc.
Allen Barron, Inc.
Blog Post
  • IRS audits may be fewer but are increasingly aggressive seeking a much bigger check from US taxpayers.  The recent request by the IRS for additional funding may not present an immediate threat of increased audits, but this doesn’t mean US taxpayers should relax or attempt to take advantage of the IRS.  Quite the contrary, if […] The post IRS Audits May Be Fewer But Are Increasingly Aggressive appe...

Allen Barron, Inc.
Allen Barron, Inc.
Blog Post
  • 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 simply a myth which does […] The post Estate Plann...

Allen Barron, Inc.
Allen Barron, Inc.
Blog Post
  • Allen Barron provides strong and experienced legal counsel for San Diego businesses and business owners.  Our unique integrated service offering provides a one-stop source for any business related matter.  The integrated legal, tax, accounting, estate planning and business advisory services ensure you receive a complete answer to your questions, opportunities and challenges which can be integrated...

Allen Barron, Inc.
Allen Barron, Inc.
Blog Post
  • There is a lot of confusion surrounding the taxation of pass through income versus salaried earnings as US taxpayers assess their positions after tax reform.  This is far from “finished” and a wild roller-coaster ride is about to ensue for many US taxpayers.  How will you know what to do?  One simple concept from the […] The post Taxation of Pass Through Income Versus Salaried Earnings appeared fi...

Allen Barron, Inc.
Allen Barron, Inc.
Blog Post
  • The IRS believes that virtual currencies such have Bitcoin have become a tool in tax evasion, and the agency is signalling more enforcement actions and IRS audits in the coming months.  The real question many crypto currency investors must consider is do crypto currencies need to be reported on the FBAR and how will the […] The post IRS and Bitcoin – Do Crypto Currencies Need to be Reported on the...

Allen Barron, Inc.
Allen Barron, Inc.
Blog Post
  • The tax bill presented for the President’s signature contains the 20 Percent Deduction for pass through income for the majority of US partnerships, S-Corporations and sole proprietorships.  Under existing tax law, business profits were passed through to the individual and taxed at their personal income rate.  The top individual income tax rate has been lowered […] The post The 20 Percent Deduction...

Allen Barron, Inc.
Allen Barron, Inc.
Blog Post
  • The interwoven nature of business tax legal and accounting issues requires an integrated business service provider such as Allen Barron.  Our clients value the ability to bring the problems, challenges and opportunities to the table and discuss them with experts across the legal, tax, accounting and business advisory spectrum.  They leave that initial meeting with […] The post The Interwoven Natur...

Allen Barron, Inc.
Allen Barron, Inc.
Blog Post
  • The new tax plan presents challenges for IRS auditors as we all await the final draft of tax reform legislation in Washington.  The primary concern centers around the ability of wealthy US taxpayers to “reap massive windfalls” by simply reclassifying income as “pass-through business income.”  The most recent “final” plan reduces income from pass-through business […] The post New Tax Plan Presents ...

Allen Barron, Inc.
Allen Barron, Inc.
Blog Post
  • Allen Barron has recently published a new integrated legal tax accounting and business advisory services white paper detailing the issues business owners, executives, officers and directors face going forward in 2018 and how integrated services provide greater insight into today’s business challenges and opportunities.  The new white paper “Allen Barron Integrated Business Services” can be […] The...

Allen Barron, Inc.
Allen Barron, Inc.
Blog Post
  • Allen Barron provides tax and estate planning for blended families in San Diego and throughout the Southwest United States.  The percentage of second and third marriages has substantially increased over the past few decades, and blended families have become a normal part of life here in San Diego.  There are many things to consider when […] The post Tax and Estate Planning for Blended Families in ...

Allen Barron, Inc.
Allen Barron, Inc.
Blog Post
  • What are willful conduct and willful blindness in IRS FBAR audits and court cases?  It is important to begin with an understanding regarding IRS FBARs and when they are required.  Any US taxpayer who has offshore bank or investment accounts (outside the United States) is required to prepare and file an FBAR for that tax year […] The post What are Willful Conduct and Willful Blindness in IRS FBAR A...

Allen Barron, Inc.
Allen Barron, Inc.
Blog Post
  • Significant changes to IRS audit procedures for partnerships and LLCs will go into effect January 1, 2018.  The changes will apply to all partnerships and LLCs who elect to be taxed as partnerships.  The change is represents a substantial change in methodology when amounts are owed to the IRS and requires a substantial discussion within […] The post Significant Changes to IRS Audit Procedures for ...

Allen Barron, Inc.
Allen Barron, Inc.
Blog Post
  • The US Court of Federal Claims found two US Canadian taxpayers fail to file FBARs resulting in summary judgment for the IRS.  The couple’s defense was primarily based upon the fact they had engaged a “professional tax adviser” to prepare their returns and failed to review them.  The court rejected this argument and found the […] The post Two US Canadian Taxpayers Fail to File FBARs appeared first ...

Allen Barron, Inc.
Allen Barron, Inc.
Blog Post
  • We may have learned an unfortunate lesson in estate planning from David Cassidy this week.  His death has brought several life lessons to light, and one of them is a reminder to update your estate plan and trust documents every two to three years.  Things change. David Cassidy’s daughter Katie was expressly excluded from a will […] The post An Unfortunate Lesson in Estate Planning from David Cassi...

Allen Barron, Inc.
Allen Barron, Inc.
Blog Post
  • Allen Barron provides forensic accounting services and tax advice during a divorce to assess the value of assets and accounts and to find hidden or unreported assets and accounts.  The proposed tax reform changes in Washington could have a substantial impact on divorce negotiations and cases across California.  How can you ensure that your former […] The post Forensic Accounting Services and Tax A...

Allen Barron, Inc.
Allen Barron, Inc.
Blog Post
  • What is the value of an integrated business service partner such as Allen Barron?  How is Allen Barron different than most integrated providers nationwide?  The value of an integrated business service provider is the quality of advice you receive and the ability to bring comprehensive and accurate insight into complex business problems and challenges.  It […] The post The Value of an Integrated Bu...

Allen Barron, Inc.
Allen Barron, Inc.
Blog Post
  • How does the Senate tax bill affect San Diego homeowners and those considering purchasing a home in the future?  The recent version of the tax reform package passed by the US Senate has local real estate industry representatives, developers and real estate agents quite concerned.  This isn’t over yet as the Senate version is much […] The post How Does the Senate Tax Bill Affect San Diego Homeowner...

Allen Barron, Inc.
Allen Barron, Inc.
Blog Post
  • What is an IRS field audit and what should you do if you receive notification from the IRS regarding their intention to conduct a field audit?  An IRS field audit is an examination in your home, business or your accountant/attorney’s office.  An IRS field audit usually involves an examination of your entire return and may […] The post What is an IRS Field Audit and What Should You Do? appeared fir...

Allen Barron, Inc.
Allen Barron, Inc.
Blog Post
  • The year is coming to a close and tax planning for 2017 and 2018 is in full swing.  It’s a good time to be considering the strategies which help you to lower your tax bill for 2017 and anticipate the best strategies to position you for the new year.  Congress is wrestling with tax reform […] The post Tax Planning for 2017 and 2018 is Now appeared first on Allen Barron.

Allen Barron, Inc.
Allen Barron, Inc.
Blog Post
  • How do independent contractor misclassification claims arise in San Diego?  What is the cost to an employer who misclassifies employees as independent contractors?  Usually, independent contractor misclassification claims come about by a complaint by the employee to a federal or California agency alleging compensation or employment issues or during an audit by the IRS, California […] The post How ...

Allen Barron, Inc.
Allen Barron, Inc.
Blog Post
  • Are you a foreign national living and working in San Diego?  Have you come into the US on an H1-B or other Visa?  It is important for all foreign nationals who reside in the US for more than a few months to understand their obligations under US tax laws.  One of the most important concepts […] The post Are You a Foreign National Living and Working in San Diego appeared first on Allen Barron.

Allen Barron, Inc.
Allen Barron, Inc.
Blog Post
  • Why should you be thinking about your San Diego business succession plan as the year comes to a close?  The National Law Review recently asked a great question: “Who is the better planner for your (business) affairs – You or the State?  You Make the Plan, or a Plan Will be Made for You!”  What […] The post Your San Diego Business Succession Plan – “You Make the Plan, or a Plan Will Be Made for You...

Allen Barron, Inc.
Allen Barron, Inc.
Blog Post
  • Recent changes to accounting rules affect realization of income for public corporations to take effect December 15 of this year.  The new accounting standard will have an impact on the details companies must capture affecting everything from corporate financials to domestic and international tax accounting.  The new rules replace virtually all of the existing rules […] The post Changes to Accounti...

Allen Barron, Inc.
Allen Barron, Inc.
Blog Post
  • S Corporation shareholders should be watching developments in Washington closely as the tax bills advance.  The recently passed house bill would create a new 25 percent tax bracket for what is referred to as “pass-through entities” such as S Corporations.  The tax would apply to that portion of business net income which is passed through […] The post S Corporation Shareholders Should Be Watching D...

Allen Barron, Inc.
Allen Barron, Inc.
Blog Post
  • Allen Barron provides integrated services for the business life cycle here in San Diego and throughout the Southwest United States.  What is the life cycle of a business and how does this affect your strategy going forward?  How do recent developments on capital hill affect business planning for 2018? The life cycle of any business […] The post Integrated Services for the Business Life Cycle appea...

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