We have to start by saying that both tax attorneys and accountants can help you deal with issues throughout the tax season. However, compared with the accountant that will help you deal with numbers, lawyers are here to help you protect yourself in the court of law.
Therefore, you should remember that tax lawyers can help you in areas where accountants cannot, which is why you should thoroughly read everything we will mention further.
Generally, tax attorneys are specialized lawyers with proper knowledge and expertise in the technical and complex tax law field. They can help you deal with legal and technical issues that may happen due to a lousy situation.
That is the main reason why you should check out tax lawyer Atlanta GA to determine the further steps you should take to prevent legal issues along the way.
At the same time, they can step in to help you with a particular problem; you can conduct a consultation to determine the course of action to avoid legal issues that may happen in the future.
Let us start from the beginning.
When Should You Talk With a Tax Lawyer?
Since they have a Juris Doctor degree, which is something you will notice as an abbreviation such as J.D., it means that they have to pass a bar.
Of course, we are talking here about minimum requirements, which means that they can undergo advanced training that will allow them to become more specialized in particular areas of tax law.
Most of them will obtain a master’s degree in taxation laws, which is another crucial consideration you should make while searching for an attorney.
Some of them can obtain knowledge and expertise in accounting. Still, you do not have to ask them to handle your finances because they are strictly doing investigation purposes.
Finally, suppose you are facing a challenging accounting problem that will affect your legal situation. In that case, you can find attorneys with CPA or E.A. certifications that will allow them to work as public accountants or enrolled agents.
The best way to learn more about CPA, in general, is by clicking here for additional info.
However, since they are challenging to find, you will have to pay a significant price tag for their services, which is an essential consideration you should remember.
In the further article, we will explain to you when you should check out with a local attorney to determine the current situation and fight against potential issues in the future.
1. You Have a Taxable Estate
We all know that the IRS or Internal Revenue Service will consider numerous aspects of personal taxes to make you pay for them along the way.
According to the latest regulation changes, your estate will become taxable if its overall value exceeds eleven million dollars if you are single or twenty-three million in case you are married.
Generally, it is a significant value, which means that only certain people will consider this particular financial planning aspect. Generally, exemptions have increased in the last few years due to TCJA or Tax Cuts and Jobs Act.
By finding a professional lawyer, you will be able to implement an estate-planning strategy that will allow you to reach below the threshold, which is essential for reducing general expenses.
2. Starting a Business
If you wish to create your own business and stop working for others, you need to think about numerous aspects to determine the overall amount you need to pay to the IRS.
It does not matter if you wish to act as a sole proprietor or wish to incorporate, because whichever setup you decide to choose, you will have to pay taxes along the way.
That is the main reason you should get relevant legal counsel that will help you determine the tax treatment and the structure you should choose based on your potential future.
At the same time, if you wish to operate with an international business, you will need to know how to create tax treatments, contracts, and other matters that may affect your legal status in the future.
You should check out this link: https://www.irs.gov/ to determine everything you need for future tax implications.
3. Legal Issues
For instance, you may face particular legal issues due to numerous reasons, which is why you should consult with a tax attorney to prevent it from happening in the first place.
If you are under criminal investigation or you wish to bring a lawsuit against the IRS, you should speak with a lawyer to analyze your overall case before it reaches the U.S. Tax Court.
The main goal is to find someone who will help you deal with court aspects, which is not something that most attorneys do in the first place. Some attorneys tend to represent clients outside the court, which is why you should find someone that already has court experience.
This is highly important if you have to defend yourself against fraud because it is challenging to do it yourself, and you should find someone who can help you with the process.
The relationship with an attorney is highly meaningful, which is why you should always be as sincere as possible so that both of you can determine the course of action.
Therefore, the attorney has a legal obligation to avoid saying everything you said to him under confidentiality. That is not something accountants should follow, which is an essential consideration before you make up your mind.
Benefits of Finding a Tax Attorney
One of the most potent debt collectors in the U.S. is the IRS, which you need to remember. Since they come with almost unlimited power, they can affect your financial and personal life, among other things.
Therefore, finding a tax attorney will provide you legal guidance and resources so that you can prevent sacrificing your assets and money along the way.
Since they have proper training and knowledge on current codes and regulations, they will help you deal with any specific matter you need to resolve. At the same time, you will find the particular code you wish to use to deal with the current situation.
Apart from that, they have the legal authority to help you against potential abuse or intimidation that you have received from the IRS. Since some of the IRS agents will not treat you as friendly as they should, an attorney will ensure that you are treated with respect.
Finally, you can rest assured because if you are proactive, you can prevent the issues from ever happening, which is way better solution than to call an attorney in the middle of a particular issue.