Awards & Recognition
No matter who you are – whether you are a high net-worth individual, the co-owner of a small family business, a first-time parent or homeowner, a recent retiree, a service member in the U.S. military, a non-citizen who just immigrated to the United States, or a California resident with assets located abroad – there are almost certain to be unique tax regulations that affect you, your family, or your business. To make the most of state and federal tax systems, complying successfully and avoiding penalties while taking advantage of helpful deductions and credits, you need personalized tax help tailored to fit your goals.
At the Tax Law Office of David W. Klasing, we are award-winning tax compliance attorneys & CPAs with more than 20 years of legal and accounting experience, enabling us to provide precision tax guidance that pinpoints your priority issues. If you need answers to a tax compliance question, contact us online today, or call the Tax Law Office of David W. Klasing at (805) 617-4566 to schedule a reduced-rate consultation. Please note that all appointments at our San Jose office must be arranged in advance.
Federal and California Income Tax Compliance
When it comes to compliance with state and federal income tax requirements, there are various issues that seem to pose challenges for many taxpayers. Problems such as delinquent tax filings, failures to file taxes, failures to pay taxes, underreporting or overreporting of income, and other incorrect information on tax returns are common. Many taxpayers also make errors when attempting to claim tax credits, identify the correct filing status, or determine what they owe. We can help you avoid these types of issues, providing California and federal income tax preparation services for individuals, C corporations, S corporations, partnerships, limited liability companies, and non-profit organizations.
See our Non-Filer Q and A Library
Employment and Payroll Tax Compliance
If you are an employer or small business owner, you must comply with various state and federal requirements pertaining to employment and payroll taxes (also known as “FICA taxes”), including the Social Security Tax, the Medicare Tax, and, in some cases, the Additional Medicare Tax (AMT). You must withhold, in some cases match, and remit FICA taxes to the government – or face harsh fines and penalties, such as the trust fund recovery penalty (TFRP). Unpaid payroll taxes should be addressed immediately to mitigate potential fines and penalties.
One common way that employers fail to comply is by misclassifying employees as independent contractors, which allows the employer to unlawfully avoid paying appropriate FICA and unemployment taxes. This can lead to a worker classification audit – or a criminal investigation for payroll tax fraud. If your business is under audit for payroll tax fraud, or if you have questions about how to comply with federal or California employment tax requirements for corporations, LLCs, or partnerships, our payroll and employment tax compliance attorneys are here to guide your business.
See our Employment Tax Law Q and A Library
California Sales Tax Compliance for Businesses and E-Commerce Companies
Online businesses are required to collect and remit California sales tax if they have economic nexus with, or a substantial economic presence in, the state of California. While larger online retailers have been subject to similar laws for some time, this marks a new development for small businesses and third-party sellers on Amazon. The requirements stem from the 2018 Supreme Court decision South Dakota v. Wayfair, which resulted in the expansion of sales tax regulation – and enforcement. With California sales tax audits on the rise, now is the ideal time to review your compliance with an online business tax lawyer.
See our Sales Tax Q and A library
IRS Foreign Account Reporting Compliance
Taxpayers are often surprised to learn that, not only are there requirements to report foreign income and bank accounts – but that furthermore, compliance with these requirements is among the IRS’ top enforcement priorities. This makes taxpayers with unreported offshore accounts some of the most likely to be audited or investigated.
Compliance with FBAR Filing Rules
The FBAR is the Foreign Bank Account Report, otherwise known as FinCEN Form 114 (previously Form TD F 90-22.1, a version of the form that is now obsolete). You may be required to file an FBAR if you have offshore bank accounts whose aggregate value exceeds or exceeded $10,000 during the tax year. FBAR requirements apply to U.S. citizens and U.S. residents, but generally do not apply to non-residents.
Compliance with FATCA
FATCA is the Foreign Account Tax Compliance Act. FATCA requires taxpayers to report certain foreign assets exceeding a threshold of $50,000, through this threshold may be higher for certain taxpayers. FATCA applies to U.S. citizens, U.S. residents, and in some cases, non-citizens.
See our 2011 OVDI Q and A Library
See our FBAR Compliance and Disclosure Q and A Library
See our Foreign Audit Q and A Library
Tax Compliance Lawyers and CPAs in San Jose, California
If you need help with any aspect of tax compliance – from Bitcoin and foreign account reporting, to tax rules for corporations, to questions about tax preparation – we are here to assist. Our goal is to bring ease and simplicity to a complex set of issues, handling the minutiae and fine print for you while seeking ways to mitigate tax penalties, reduce interest charges, and plan effectively for the future. Contact us online today to set up a reduced rate consultation or call the Tax Law Office of David W. Klasing in San Jose at (805) 617-4566.
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:
