Domestic and International Business and Tax Attorney in Oxnard, CA
At the Tax Law Office of David W. Klasing, we are a full-service tax firm whose team of Tax Attorneys and CPAs is dedicated to aggressive taxpayer advocacy. We work with business owners, employers and employees, independent contractors, investors, venture capitalists, U.S. expats, international companies, dual citizens, and military servicemembers who are stationed overseas to resolve a wide range of tax controversies. Whether we are representing one of Oxnard’s many small businesses before the IRS in a worker classification audit, providing FBAR guidance to a taxpayer who has left the United States, or advising a first-time business owner on the tax effects of various structures, our Oxnard tax lawyers are committed to helping you minimize your liabilities, manage your wealth effectively, and plan for the future ahead.
Oxnard Business Tax Attorneys for Corporations, LLCs, and Partnerships
The tax code is packed with reporting requirements, tax credits and deductions, and other regulations – and opportunities – that uniquely impact business entities and international taxpayers. Foreign and multinational companies, dual citizens, Oxnard residents who have sources of foreign income, and U.S. expats who live abroad are only a few examples of the taxpayers who must pay special attention to federal disclosure laws and recordkeeping requirements.
In addition to complying with tax laws, business entities must go one step further, taking tax planning issues like entity selection, succession planning, transaction planning, and worker classification into financial consideration. If you are a business owner, or are in the process of becoming one, the experienced business, payroll, and employment tax attorneys at the Tax Law Office of David W. Klasing can provide comprehensive, strategic support and representation. Matters with which we assist businesses include:
We work with all types of entities and organizations in Oxnard, from local family-owned businesses to major international corporations. Entities that we provide business tax services for include:
- C corporations and S corporations
- General partnerships and limited partnerships (LPs)
- Limited liability companies (LLCs)
- Sole proprietorships
- Inbound International Taxation
- Outbound International Taxation
Business Entity Selection Lawyers
Choosing a business entity – for instance, a C corporation versus a general partnership – is one of the first and most critical steps that every business owner must take. It is important to choose carefully, because the entity you select will affect matters like whether you are subject to double-taxation – which “pass-through” entities such as LLCs and S corporations may avoid – and the extent to which you can be held personally liable for debts incurred by the entity.
Our Oxnard entity selection lawyers can analyze your budget, long-term objectives, and other variables to help you make an informed decision. We can also help you change your business entity, such as changing an LLC to a partnership or vice versa.
Business Succession Planning Lawyers
At some point in the future, you will wish to dispose of your business. Our business succession planning attorneys can make this process smoother and simpler, keeping the transition seamless. We are here to help you compare and deftly execute various exit strategies, such as selling or gifting the business to a family member, a trusted friend, or a longtime business associate. We can also answer your questions about related tax issues, such as family trusts, buy-sell agreements, and stock purchase agreements.
Business Transaction Lawyers
Don’t be caught off-guard by unexpected financial repercussions after making a business sale or purchase. Instead, work with an Oxnard business transaction attorney who can guide you through every stage of the process. Whether we are conducting due diligence prior to an acquisition, reviewing a sales agreement drafted as part of a high-value transaction, or walking a business owner through the stages of dissolving and closing the entity, we are here to protect you and your company’s best financial interests.
International Tax Lawyers for U.S. Expats and Foreign Companies
Whether associated with a business entity or an individual taxpayer, foreign income is subject to rigorously enforced disclosure requirements under U.S. tax laws. These requirements are central to laws like the Bank Secrecy Act (BSA) and Foreign Account Tax Compliance Act (FATCA), which create reporting requirements at various monetary thresholds.
In addition to complying with these laws, international entities must also consider similar tax issues as domestic businesses – issues, for instance, such as which structure to choose if opening a U.S. branch – while contending with the added layers of complexity that accompany international tax regulations. With tax offices in Oxnard, CA, our international tax attorneys are devoted to helping you achieve compliance while protecting and growing your wealth.
FBAR Tax Attorneys for Expats
It is mandatory for various taxpayers to report foreign income to the Internal Revenue Service. Such taxpayers may include U.S. expats, dual citizens, members of the military, frequent business travelers, recent immigrants, and even taxpayers who use wire transfers to send money between the U.S. and foreign countries.
This is because all “U.S. persons” – including citizens, resident aliens, trusts, estates, and business entities – must disclose foreign bank accounts and assets, provided their value exceeds $10,000 at any time during a given tax year. This disclosure is made by electronically filing FinCEN Form 114, better known as the FBAR or Foreign Bank Account Report. FATCA contains a similar requirement, which obligates taxpayers to file Form 8938 (Statement of Specified Foreign Financial Assets), though the reporting threshold is higher: $50,000 rather than $10,000.
Our tax lawyers for expats serve taxpayers all over the globe, including Switzerland, Singapore, Mexico, and the United Kingdom. No matter where your accounts or assets are located, we can facilitate the disclosure process while working to reduce any penalties or interest you may owe the IRS.
Tax Planning Attorneys for Foreign Entities
In addition to complying with FATCA and the BSA, foreign companies must also take part in precise and thoughtful tax planning. For example, multinational entities must weigh whether or when to form a U.S. entity, as well as the tax treatment of income that is “effectively connected” to the United States. Further, out-of-state companies that sell products online may have a duty to collect and remit sales tax to the state of California, depending on factors like whether the company is domiciled or organized in-state, and whether its sales surpassed certain amounts in California.
Oxnard, CA Tax Lawyers for Small Businesses
At the Tax Law Office of David W. Klasing, we have distinguished ourselves – not only by providing a superior level of client service, but by taking on the difficult tax issues that other firms or attorneys have turned down. Supported by more than 20 years of tax experience, including over a decade of experience specific to the public auditing industry, our team members are ready to find the answers to any domestic or international tax question.
To discuss a business tax or international tax matter confidentially in a reduced-rate consultation, contact our tax firm online, or call the Tax Law Office of David W. Klasing at (805) 617-4566 or (800) 681-1295.