8 Ways a Tax Attorney Helps Your Business

Filing your taxes each year can be a daunting task, especially if you are self-employed or have a complex financial situation. This is where a tax attorney comes in. A tax attorney can help you navigate the tax code and ensure that you are taking advantage of all the deductions and credits that you are entitled to.

What exactly can a tax attorney do for your business? 

Here are eight ways:

1. Help you choose the right business structure

When you first start a business, one of the decisions you have to make is what legal structure to choose. This is an important decision because it will affect how your business is taxed. A tax attorney can advise you on which business structure is best for your particular situation.

2. Prepare and file your tax returns

A tax attorney can prepare and file your federal and state income tax returns for you. This can take a lot of the stress out of tax season.

3. Help you with an IRS audit

If your business is selected for an IRS audit, a tax attorney can represent you during the audit and help you resolve any issues that arise.

4. Negotiate with the IRS on your behalf

If you owe money to the IRS, a tax attorney can negotiate a payment plan or offer in compromise on your behalf.

5. Help you take advantage of tax breaks

A tax attorney can help you take advantage of all the deductions and credits that you are entitled to. This can save you a lot of money come tax time.

6. Handle payroll taxes

If you have employees, you are responsible for withholding and paying payroll taxes. A tax attorney can help you make sure that you are complying with all the rules and regulations related to payroll taxes.

7. Resolve tax disputes

If you have a dispute with the IRS, a tax attorney can represent you in court and help you resolve the issue.

8. Assists with estate planning

If you have a complex financial situation, a tax attorney can also help with estate planning. This includes things like creating trusts and wills.

How do you find a tax attorney?

If you need help with your taxes, the best place to start is by asking your accountant or financial advisor for a recommendation. You can also search online for “tax attorney” + your city or state.

What should you look for in a tax attorney?

When you are considering hiring a tax attorney, there are a few things you should look for:

  • Make sure the attorney has experience handling cases like yours.
  • Ask for references and check them out.
  • Make sure the attorney is licensed to practice in your state.
  • Get an estimate of the cost upfront.

Hiring a tax attorney can be a big decision, but it can also be a very helpful one. A tax attorney can help you save money, time, and hassle come tax season.

Chris Turn

Chris has experience covering the latest trends in the small business world, and has a reputation for being a knowledgeable, creative and strategic blogger. He has a deep understanding of marketing and branding principles and how they can be applied to small businesses, and is able to provide actionable advice and strategies for success. Chris has interviewed industry experts and covered major marketing events such as the SXSW Interactive conference and the Advertising Week conference. He is also a successful small business owner himself, which allows him to bring a unique perspective to his blogging and writing. His blog is known for providing valuable insights and tips on how to effectively market and brand a small business.