Need help filing your FBAR? Some helpful tips

Need help filing your FBAR? Some helpful tips

http://youtu.be/zMamIu0h7s0 IRS Medic

How to e-file an FBAR - FinCEN Form 114 - Step by Step

How to e-file an FBAR - FinCEN Form 114 - Step by Step

http://ift.tt/27bbR0J In this video Anthony Parent explains the IRSMedic-recommended way for individuals to file and FBAR themselves. *FBARs mus be electronically filed* Instead of using the online FBAR form, Attorney Parent explains that downloading the FBAR PDF, completed it, then uploading it is a preferable way to file as one can save the PDF and make changes it it later. This can be key in the case of amending a previously incorrect FBAR. And then also, when you are waiting on more information. it is important to note that opening the FBAR PDF in a browser will likely not work. Rather, it should be downloaded in Adobe Reader, saved, and uploaded to the Bank Secrecy Act E-filing website. Your 2015 FBAR is due June 30th 2016. There are no extension allowed. Starting in 2017, individual's 2016 FBAR will be due when your tax return is due. April 15th for US filers, June 15th for expats, October 15th for filers on extension or December 15th expats on a permissive extension. http://youtu.be/fgL6u_jD8_E IRS Medic

C Corp Audits

C Corp Audits

In this video, Anthony and Claudine discuss the chances of audits for corporations. We also talk about some situations that would tend to invite scrutiny for an audit from the IRS, like: ◦ Excessive meals and entertainment ◦ Auto expenses too high ◦ Loans to officers instead of payroll ◦ Claiming 100% business use of a vehicle if there is not another vehicle for personal use ◦ Unreasonably high salaries paid to shareholders who are also employees – less profits ◦ No interest paid on officer loans ◦ No interest received an officer loans ◦ Retained earnings from prior period not properly rolled to current year ◦ Forms 1096/1099 were not issued timely ◦ Corporate balance sheet doesn’t balance ◦ Profit margins are inconsistent with prior years ◦ Corporation with retail business involving inventory...but you have zero ending inventory ◦ Expensing too much officer life insurance - If you need any assistance setting up a C Corp, or are currently being audited, contact us. We're here to help. www.irsmedic.com The Law Offices of Parent & Parent, LLP Real Tax Attorneys for Tough Tax Problems With clients from around the world 888.727.8796 http://youtu.be/zaiHUfYIC4s IRS Medic