Awards & Recognition
Every business owner in San Jose has different goals. Some need help with the early stages of getting off the ground, such as entity selection and business formation, while others are focused on expanding into new markets or merging with other companies. Some business owners want to pass the company down to their children, while others prefer to sell or close the business when they retire. Some businesses require highly specialized services, such as cryptocurrency tax accounting, while others are simply looking for basic tax preparation or bookkeeping and accounting support.
No matter what type of business you own or what tax question you need help answering, rely on the Tax Law Office of David W. Klasing for advice you can trust. With over 20 years of experience providing tax support for corporations, partnerships, LLCs, non-profit organizations, and sole proprietorships, our business tax lawyers know how to overcome your obstacles and move you closer to your goals, no matter how complex the regulatory issues at hand. From our San Jose tax office, we proudly provide a wide array of tax and accounting services for small, mid-size, and large businesses throughout the region. Note: Our San Jose office is by appointment only.
Corporate Tax Services in San Jose, CA
Whether your tax question pertains to succession planning, entity selection and formation, mergers and acquisitions, corporate tax planning and preparation, financial disclosures, pension or employee benefit plans, executive compensation, corporate tax compliance, economic nexus, Opportunity Zone development, worker classification, tax audit representation, international tax issues, Chapter 11 bankruptcy, or other matters, we deliver award-winning corporate tax support for California, foreign, and multinational companies. Other issues our tax office can assist your business with include:
- Bookkeeping and accounting
- Business transactions
- California and federal employment taxes
- California sales tax
- California state tax appeals (OTA)
- Cryptocurrency and Bitcoin tax issues
- Foreign account tax audits
- IRS appeals and tax litigation
- IRS tax audits
- Online business tax issues
- State tax audits (EDD, CDTFA, and FTB tax audits)
Business Tax Planning and Preparation Services
The Tax Law Office of David W. Klasing provides tax planning and preparation services for S corporations, C corporations, limited liability companies, and other business entities. We can file your business income taxes, make sure that you are utilizing beneficial tax credits and deductions, analyze your financial and accounting data to identify areas for improvement, seek tax penalty reductions, and review your company’s policies and protocols to ensure that you are in compliance with current tax law.
Business Formation and Entity Selection Attorneys
Selecting an entity type is one of the most important stages of forming and starting a business in California. Our entity selection lawyers can help you make a choice that aligns with your goals and supports your long-term vision.
What Business Entity Should I Choose?
There are advantages and disadvantages to each type of business entity. For instance, C corporations are disadvantaged by double-taxation, but advantaged by their ability to raise capital efficiently. We can help you understand the tax implications of each entity, so that you can make a nuanced entity comparison and position the company for success.
Business Succession Planning Lawyers in San Jose
The goals of succession planning include improving your liquidity, minimizing your tax burden, and ensuring a smooth, seamless transition from current executive leadership to the new generation of talent. Our business succession planning attorneys are here to help bring clarity and simplicity to this complex process.
Which Type of Corporation Should I Form in California?
There are two types of corporations to consider when launching a business in California: S corporations, which are pass-through (also called “flow-through”) entities, and C corporations, which are not. Our business entity selection attorneys can help you make a prudent decision.
Is an LLC Better Than a Corporation?
It is misleading to claim that any one entity is “better” than another. Choice of structure is dependent on the business’ goals, resources, and financial strategy. That being said, the limited liability company (LLC) is a popular selection in California and elsewhere, offering pass-through taxation, protection from liability, and overall tax flexibility.
Are U.S. Corporations Taxed on Worldwide Income?
The short answer to this question is yes. Like individual filers, U.S. corporate entities are required to report offshore assets, income, and accounts to the federal agencies like the Internal Revenue Service and the Financial Crimes Enforcement Network (FinCEN). For example, whether they are California-based or “foreign” (headquartered out-of-state), U.S. corporations with offshore assets exceeding $10,000 are required to file an FBAR, or Foreign Bank Account Report (FinCEN Form 114). Even if a foreign account does not generate taxable income, it may still be subject to FBAR reporting rules. Corporations may also need to file Form 8938 (Statement of Specified Foreign Financial Assets), which is required by the Foreign Account Tax Compliance Act (FATCA) when offshore assets exceed $50,000.
San Jose, CA Business Tax Lawyers and CPAs for Corporations, LLCs, and Partnerships
In an increasingly fast-paced and crowded economic landscape, superior service and innovative products are no longer enough to propel you ahead of the competition. You also need to think carefully about your long-term financial strategy, while simultaneously ensuring that you are compliant with state and federal tax regulations. The tax planning strategies you engage in today will become a vital component in your company’s success tomorrow – and with the recent passage of the Tax Cuts and Jobs Act (TCJA), which overhauled key provisions of the Internal Revenue Code, it is vital to ensure that you are keeping pace effectively. It may be time to rethink and update your tax strategy.
From financial planning and corporate tax preparation, to entity selection and formation, to audit and appeals representation, to employment and payroll tax services, the award-winning team at the Tax Law Office of David W. Klasing has all of your business tax needs covered. Let us handle the IRS, so that you can focus on developing your vision. Contact us online to arrange a reduced rate consultation or call our San Jose office at (805) 617-4566 to speak with a business tax attorney near you today.
See our Audit Representation Q and A Library
See our Sales Tax Q and A library
See our Employment Tax Law Q and A Library
See our IRS Appeals Q and A Library
See our Tax Litigation Q and A Library
Business Tax FAQs
The following business tax FAQs may help to shed light on an issue affecting your company. However, if you have a tax question about your business, it is in your best interests to obtain legal advice by discussing the issue with an experienced, dually-certified attorney-CPA. The following FAQs are purely informational and are in no way intended to substitute legal advice. Below, see our answers to commonly asked questions such as:
- Do IRS Auditors Look for an Online Business?
- How Do You Protect Your Business from Attempts to Pierce the Corporate Veil?
- Is it Easy to Give My Child My Business?
- Is Keeping Bad Business Books a Federal Tax Crime?
- Who Can I Transfer My Business To?
- What Are the Possible Tax Consequences of Buy-Sell Agreements?
- What Issues May Arise if I Decide to Sell My Business?
Note: If you have concerns about the privacy of our initial or subsequent communication and are unable to easily travel to our Irvine / Orange County Main Office, consider scheduling a GoToMeeting to safely and securely establish an initial or maintain an existing attorney client relationship. With end-to-end encryption, strong passwords and top-rated reliability, no one is messing with your meeting. To schedule a reduced rate initial consultation via GoToMeeting follow this link. Call our office and request a GoToMeeting if you are an existing client. We are generally happy to travel to any of our appointment only satellite offices for a subsequent meeting in appropriate circumstances once a relationship is established via a signed engagement letter and the payment of an initial retainer or where enough retainer is available where a current client to cover the reasonable travel time and time required for the meeting.
Will it cost me more to hire the Tax Law Offices of David W. Klasing, who’s main office and the vast majority of the firm’s staff is located in Irvine California, but an appointment only Satellite office is close to my location, as opposed to a local company? Absolutely not! See our policies that address this issue here:
Business Services:
See our Entity Selection Q and A Library
See our Business Purchases and Sales Q and A Library
See our Online Business Q and A Library
See our Car Dealership Audit Q and A Library
See our Business Succession Q and A Library
See our International Tax Q and A Library
