What is an integrated approach to solving business problems? Why is it important for businesses, especially those with multiple offices or entities and/or cross-border interests to partner with an integrated legal, tax,...more
Many business owners and executives fail to realize that accounting is the information connection within your own business. Accounting doesn’t simply capture the box scores of your company’s business transactions. A...more
8/28/2024
/ Accounting ,
Analytics ,
Business Income ,
Business Operations ,
Business Ownership ,
Business Strategies ,
Documentation ,
Financial Statements ,
Internal Controls ,
Policies and Procedures ,
Tax Planning
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 not reflect the nature of business or home ownership....more
8/28/2024
/ Asset Protection ,
Beneficiaries ,
Business Ownership ,
Business Succession ,
Buy-Sell Agreements ,
Connelly v United States ,
Documentation ,
Estate Planning ,
Heirs ,
IRS ,
Probate ,
Redemption Agreement ,
S-Corporation ,
SCOTUS ,
Small Business ,
Succession Planning ,
Tax Cuts and Jobs Act ,
Tax Planning ,
Valuation
What is the value of value of integrated consulting, legal, tax, and accounting services? Just before the millennium, a group of prominent professional service companies was known as “The Big Eight.” The Big Eight included...more
In US Expatriate Tax Planning – Part 2, Ms. Allen picks up the conversation regarding tax and legal issue U.S. expatriates might face. The discussion turns to real estate matters, and the issue of moving money from the United...more
In the US Expatriate Tax Planning podcast, Janathan Allen discusses important tax issues from the perspective of a US Expatriate. One of the first and most important thing to know for any US taxpayer is the United States...more
The sunset of the TCJA – the Tax Cuts and Jobs Act of 2017, is currently scheduled for the end of 2025. The TCJA contributed substantial changes to the US tax code that have benefited many US taxpayers. How should a US...more
4/19/2024
/ Business Strategies ,
Estate Planning ,
Income Taxes ,
Investors ,
IRS ,
Legislative Agendas ,
Strategic Planning ,
Tax Code ,
Tax Credits ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Planning ,
Tax Reform ,
Tax Returns
What is known as the IRS survivor’s penalty, and is there anything that can be done to provide for a surviving spouse as we age? The “survivor’s penalty” is the likelihood that a surviving spouse will face higher federal and...more
How will the administration’s new crypto tax proposal affect your current digital strategy? How do recent price surges in many cryptocurrencies affect the taxable events of US taxpayers?
The value of many...more
3/19/2024
/ Cryptocurrency ,
Digital Assets ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Non-Fungible Tokens (NFTs) ,
Proposed Regulation ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements ,
Tax Liability ,
Tax Planning ,
Tax Reform ,
U.S. Treasury
Are you searching for 2023 tax return preparation and filing tips? The window officially opened to submit 2023 tax returns to the IRS on January 29, 2024. The following day the IRS released IR-2024-38, “Things to remember...more
Isn’t it interesting that success is built into business succession. Still, most US companies do not have a business succession plan in place. What is business succession planning and how does it enhance your own success and...more
1/30/2024
/ Beneficiaries ,
Business Ownership ,
Business Succession ,
Estate Planning ,
Incapacitated Persons ,
Insurance Industry ,
Legal Entities ,
Legitimate Business Interest ,
Life Insurance ,
Ongoing Operations ,
Retirement ,
Revocable Trusts ,
Succession Planning ,
Tax Planning ,
Trusts
What are the most important elements of estate and tax planning for US expatriates? Are you planning to move out of the United States? Are you a US taxpayer who lives and works outside of the country? What are some of the...more
11/16/2023
/ Advance Health Care Directive ,
Alternate Investment Vehicles (AIVs) ,
Beneficiaries ,
Capital Gains Tax ,
Compliance ,
Documentation ,
Estate Planning ,
Expatriates ,
FBAR ,
FinCEN ,
Foreign Banks ,
Foreign Financial Accounts ,
Grantors ,
Income Taxes ,
Investment Portfolios ,
IRS ,
Life Insurance ,
Living Will ,
Mutual Funds ,
Passive Investments ,
Power of Attorney ,
Probate ,
Property Owners ,
Retirement Plan ,
Risk Mitigation ,
Tax Deductions ,
Tax Planning ,
Trusts
Are you concerned about the high IRS tax rates on a foreign trust? It is important to understand the tax and reporting consequences on this specific type of investment. It may very well be time to evaluate the net value of...more
10/31/2023
/ FBAR ,
Foreign Trusts ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Investment ,
IRS ,
OVDP ,
Passive Foreign Investment Company ,
Reporting Requirements ,
Tax Liability ,
Tax Planning ,
Tax Rates
In this podcast about Domestic Tax Planning, Janathan Allen discusses the importance of the process of domestic tax planning. Many people don’t think to consider tax planning by assuming, “I’m a W2 employee, how can domestic...more
What is the value of an integrated legal, tax, accounting and business advisory services in a single source provider? The three primary benefits of these valuable business partners are:
The ability to solve complex...more
In ABCast Episode 21 – Due Diligence Janathan Allen discusses a crucial element of Mergers & Acquisitions or M & A: comprehensive and thorough due diligence. Due diligence is a process and a review of financial information,...more
We continue with Part 2 – International Tax Primer for US Taxpayers and Expatriates with one of the most common forms associated with foreign asset and income reporting to the IRS: Form 8938, the Statement of Specified...more
8/28/2023
/ Expatriates ,
FBAR ,
Filing Requirements ,
FinCEN ,
Foreign Assets ,
Income Taxes ,
International Tax Issues ,
IRS ,
PFIC ,
Required Forms ,
Tax Liability ,
Tax Planning
Welcome to part 1 of our Allen Barron International Tax Primer for US Taxpayers and Expatriates. The United States is one of the few countries in the world that taxes its citizens on their worldwide income. US taxpayers are...more
8/24/2023
/ Bank Secrecy Act ,
Expatriates ,
FATCA ,
FBAR ,
Filing Requirements ,
FinCEN ,
Foreign Assets ,
Income Taxes ,
International Tax Issues ,
IRS ,
Popular ,
Required Forms ,
Tax Liability ,
Tax Planning
In the podcast, Preparing a Company for Sale, Janathan Allen, discusses all of the steps required to get ready to sell your business and the concepts and goals you should evaluate before you begin the process. What do you,...more
The IRS has recently issued an ominous notice (#IR-2023-126) in which the IRS warns high income US taxpayers and millionaire non-filers that the IRS is targeting them to conduct audits, identify and collect undeclared income...more