Domestic and International Business and Tax Attorney in Oakland, CA
The U.S. Tax Code contains numerous laws specific to business entities, foreign companies, and international taxpayers, such as U.S. expats or dual citizens. For those who are starting or operating a business, conducting business in multiple countries, or have other financial ties to another nation, the tax regulations and information reporting requirements are complex and myriad. Likewise, the penalties for noncompliance can be severe – particularly in cases where the taxpayer’s conduct is deemed deliberate, or “willful.”
At the Tax Law Office of David W. Klasing, we are Oakland tax attorneys and CPAs with over 20 years of combined experience serving business entities, business owners, and other individuals in need of civil or criminal tax defense representation. From business planning matters like dissolutions and mergers, to international tax issues such as FBAR compliance, to criminal cases concerning felony tax evasion, our multitalented team of award-winning tax professionals applies unparalleled care and diligence to every case we handle.
Oakland Business Tax Attorneys for Corporations and LLCs
Our employment, payroll, and business tax lawyers serve entities throughout the Oakland, CA region, including S corporations, C corporations, general partnerships, limited liability partnerships (LLPs), limited liability companies (LLCs), sole proprietorships, family-owned businesses and tech startups. Whether an entity has been chosen for tax auditing, is expanding overseas, is changing ownership, or needs assistance with general tax and financial planning, the Tax Law Office of David W. Klasing provides the knowledgeable counsel needed to resolve the issue efficiently. We provide assistance with domestic and international business tax matters related to:
Business Succession Planning
There is a myriad of opportunities for errors and oversights when a business changes ownership. However, this disruptive confusion can be avoided through meticulous business succession planning. Through a comprehensive suite of business succession planning services, our Oakland tax attorneys make it simpler – and less costly – to sell or gift your company. Whether you wish to pass the business down to your son, daughter, or spouse, sell to another entity, or take a different approach, we can help you find and execute an efficient exit strategy.
Business Entity Formation
There are various types of corporations and partnerships for new business owners to choose from, as well as the option to operate a sole proprietorship or LLC. Entity selection charts a course for the company’s financial future, impacting matters like personal liability for business debts, double-taxation, and other tax considerations. If you are starting a business in Oakland and need help choosing and forming an entity – or if you currently own a business and wish to change your business structure – our business formation attorneys are here to provide guidance.
Business sales and purchases can have impactful tax consequences for which entities must be financially prepared. Working with an experienced business transactions attorney will help you to make informed decisions about operating your company. We can assist with matters such as due diligence in mergers and acquisitions, enforcement of business sale contracts, and more.
International Tax Lawyers in Oakland, CA
All U.S. persons with foreign income must report such income and related information to the Internal Revenue Service (IRS) under federal tax laws like the Foreign Account Tax Compliance Act (FATCA) and the Bank Secrecy Act (BSA). The IRS defines the term “U.S. persons” to include the following:
- U.S. business entities of all structures
- U.S. citizens (including dual citizens)
- U.S. residents
- U.S. trusts and estates
Tax Planning Services for Foreign Companies
Our international business tax lawyers work with companies based all over the world, including entities that are headquartered or do business in Australia, Ecuador, Hong Kong, Luxembourg, Mexico, Saudi Arabia, Singapore, Switzerland, and the United Kingdom. We also work with businesses that are headquartered outside of the state of California, including online sellers who have sales tax obligations in California. We assist foreign and domestic companies with tax planning, tax audits, employment and payroll (FICA) tax compliance, and other business tax matters.
Tax Lawyers for Expats
Living or working abroad does not release a U.S. taxpayer from his or her federal tax obligations. If a taxpayer is treated as a U.S. person, and has offshore income or assets, the taxpayer must timely report and pay taxes on the assets, provided their value meets certain thresholds. This extends to foreign savings accounts, foreign checking accounts, foreign business accounts, and even international wire transfers or Bitcoin wallets. Two of the most important tax requirements for reporting offshore income are the following:
- Filing a Foreign Bank Account Report (FBAR), or FinCEN Form 114
- Filing Form 8938 (Statement of Specified Foreign Financial Assets)
Failure to meet these and other requirements will subject the taxpayer to civil and/or criminal penalties, depending on whether his or her conduct is deemed “willful” by IRS investigators. Therefore, it is essential for taxpayers to comply with FBAR and related laws. An FBAR tax attorney can facilitate this process while protecting the taxpayer’s rights and advocating for a resolution that is in the taxpayer’s best interests.
Oakland Tax Attorneys and CPAs for Businesses and Individuals
Whether we are working with a multinational Fortune 500 company, or a local startup that needs to prepare to open for business in Oakland, we dedicate a high level of focus, care, and precision to every tax case we handle. From drafting and assessing contracts, to providing aggressive trial representation, our team of Oakland business tax lawyers is ready to assist your business with all aspects of its tax needs. For a reduced-rate consultation concerning an international or employment tax question, contact our law offices online, call our offices at (510) 764-1020 or at (800) 681-1295.