Tips for Choosing a Tax Attorney
It would be best to remember that both tax attorneys and accountants could help you deal with potential tax issues.
However, an attorney is another step ahead because you are fighting with the law and not just thinking about numbers.
We recommend you to enter here to learn more about getting an advisor to help you out with the process.
The truth is that they can handle numerous things that you will not get from an accountant.
You will have to enter a point of legal issues to call them in the first place.
Table of Contents
Signs You Need a Tax Attorney
Tax lawyers or attorneys come with legal specialization in the technical and complex field of tax law, which you should remember. They are perfect for helping you find various legal and technical issues about your situation.
Generally, an attorney can help you in case you have a particular issue you have to deal with. At the same time, they are great for consultation, especially if you wish to be proactive and prevent potential problems in the future.
It would help to remember they require a Juris Doctor degree or J.D. Besides, they must take a bar exam to practice and help you out with any potential issue.
We are talking about minimal requirements, which means that some must undergo advanced training when it comes to tax law.
Therefore, they will have to obtain another degree in taxation, which will give them more knowledge to help you. Of course, some of them have accounting experience, while others can help you prepare returns as well.
Still, their general focus is on tax situations and legal implications that you may have.
If you have reached a point of complex accounting problems that can lead to legal issues, you should find an attorney that comes with a CPA (certified public accountant) or EA (enrolled agent) to cover every single step along the way.
Still, you will have to pay more for Atlanta tax lawyers with accounting experience, which is an important consideration to remember.
1. Taxable Estate
The IRS or the Internal Revenue Service is an essential clog in government to ensure that every individual and business comply with laws. Therefore, if you own a particular estate, you should file it with IRS too.
Remember that estates are taxable in case their value exceeds eleven million dollars. This exclusion means that you should stop worrying about estate planning, but your heirs may have to pay forty percent of the overall balance if the amount reaches a threshold.
Keep in mind that exemption increased by fifty percent after the Tax Cuts and Jobs Act, which is an essential factor to remember.
Therefore, a lawyer can help you implement planning strategies that allow you to stay below the threshold and reduce overall liability as much as possible.
2. Starting a Business
The main goal is to understand all aspects of owning a business, which will help you determine the best course of action. One of the most important questions you should answer is about tax implications and deduction.
For instance, different business entities come with specific taxes you should consider. Therefore, you should determine the best course of action. You may operate as a sole proprietor in some cases, but it comes with specific advantages and disadvantages to remember.
Each type of business you decide to create comes with unique ramifications. Therefore, a legal professional can help you create a proper treatment and structure for your company that should feature some potential aspects you would not consider in some situations.
Of course, if you are operating internationally, that may affect and complicate your situation regarding legal matters, treatment, and contracts. Therefore, you will need professional assistance throughout the process.
Watch this video: https://www.youtube.com/watch?v=j2B-9AZh11E to learn more about different options you can choose.
3. Prevent Legal Issues
Some businesses and people choose to conduct a lawsuit against the IRS due to numerous reasons. The things can go another way around, which means that you can enter a criminal investigation, which means that you should get a case review before a court.
Therefore, you will need help from an experienced and knowledgeable lawyer. The goal is to find someone who has experience with a courtroom.
You can also find someone who is not an attorney to represent you in court, but we recommend finding someone who has the proper knowledge to help you out with a process.
If you have committed tax fraud, it is imperative to find a proper lawyer that can help you claim valid credits or deductions to prevent legal issues. The relationship with the attorney is essential, which is why you should be as sincere as possible.
It means that a lawyer does not come with a legal obligation to tell a court everything you said. However, accountants have legal obligations, which is an essential consideration.
Questions to Ask an Attorney
- What Type of Work Can You Handle? – As mentioned above, you can find different lawyers that may provide you with specific or general help, depending on their education and expertise. When it comes to tax planning, you should find someone who comes with accounting experience. Therefore, you do not need an expert to help you negotiate a debt. The proper lawyer will help you handle a particular work without any additional issues.
- Ask About Experience – Even though a new lawyer is less expensive, if you have complex situations, it is better to rely on someone with significant experience to help you with a particular problem with ease.
- Check a License – If you live in the U.S., you should check whether an attorney comes with a proper license to practice in court, including federal, state, and Tax courts. Some businesses can have issues with state laws, which you should explain to the attorney during consultation. That way, you will have additional information on their experience, among other things. By clicking here, you will learn how to find an advisor.
- Ask How Much They Charge – If money is concerned, you should determine the amount you should pay to a certain lawyer before making up your mind. The expenses are based on the type of case and problem you have. However, most of them come with already arranged fees you can check out before you choose.