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Posts Tagged California tax attorney

More Bad News For Those With Unreported Foreign Accounts (FBARs)

by Brian Mahany Most of the court cases and appeals decisions coming from the IRS have not been good news for taxpayers. Two cases regarding FBAR penalties for unreported foreign financial accounts are no exception. Failing to report offshore financial accounts (that includes bank accounts, CD’s, brokerage accounts and even some foreign insurance products with [...]

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Succession Planning For Family Businesses

by Brian Mahany Although we are a full service tax firm, most people think of us only for our fraud and offshore reporting work. Our team of highly specialized tax lawyers can also assist in tax and estate planning.  According to recent studies, 25% of family businesses plan on a change of ownership in the [...]

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Swiss Court Approves “Cold Bed” Tax

by Brian Mahany A Swiss court approved a controversial tax on unoccupied 2nd homes. The measure is designed to raise revenues by taxing those fortunate enough to have a second house. (The hotel industry also likes the idea because it encourages visitors to stay in a hotel instead of a 2nd home.) The measure has [...]

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Captive Insurance Scams

by Brian Mahany It didn’t take long. On July 18th we wrote about the new IRS audit push on captive insurance companies. Unless very carefully crafted, the IRS considers most to be abusive tax shelters. This means big penalties if you misuse one to avoid taxes. Unfortunately, the captive insurance market has attracted its fair [...]

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