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Allen Barron, Inc.

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Website title: Allen Barron - Integrated Legal Tax Accounting Business Advisory

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Is the Burden of Proof on the IRS During an Audit?

Is the burden of proof on the IRS during an Audit?  It might shock you to learn that the burden of proof in an IRS audit, and in most dealings with the IRS, lies with the U.S. taxpayer, not the IRS.

Key Takeaways on Is the Burden of Proof...

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FBAR Requirements as a U.S. Person for an Offshore Account

What are your FBAR requirements as a U.S. person or taxpayer for an offshore account, group of accounts, property, or investment?  The penalties associated with non-compliance with the reporting of offshore accounts, assets and income</stro...

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Corporate Governance & Compliance Preserves the Corporate Veil

Corporate governance & compliance preserves the corporate veil and is a duty of any officer of an LLC or Corporation.  What is corporate governance and compliance, and why is it important to protect the integrity of the “corpo...

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U.S. Taxpayers with Offshore Investments Should Be Wary of PFICs

U.S. taxpayers with offshore investments should be wary of PFICs (Passive Foreign Investment Company). Many foreign nationals live and work in the United States.  For those who invest in offshore companies that generate income in a passive nature (i.e. rents, royalties, interest, income from commodities or derivative trading) are permanent residents or have received thei...

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How to Harness Accounting in Your Company to Improve Insight and Profitability

Are you searching for ways to improve the value, growth, and profitability of your business?  It may surprise you to learn that one of the most profitable steps you can take is to harness accounting in your company to improve insight and profitability, while ensuring accurate payroll, reporting, and compliance.

For many businesses, the “accounting department” stil...

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