Tax season makes many business owners nervous about how to file properly.
Tax attorneys are lawyers who have spent their youth figuring out ways to solve your complicated tax situation. They had to sweat over a fat pile of books to master every technical and legal aspect of the taxes you have been trying to pay (or evade).
And if you still are not sure how a tax attorney can help you, read on!
1. They Can Deal with Notices
The tax filing options available online give many of us an illusion of expertise. However, if the federal government comes calling, it is ideal to leave matters to the experienced hands of an attorney. There will be a bewildering number of things to deal with- summons, notices and audits from the IRS to collect taxes from you. The tax code itself can be daunting. Besides, if there has been an error with the tax filing on their behalf, only an experienced professional will be able to figure it out and uphold your cause.
2. Browse Through the Paperwork
IRS has thousands of forms and publications, a major percentage of which are incomprehensible to the those of us unfamiliar with the technical terms. An expert will effectively guide you while you list your rights as a tax payer, the various applicable deductions like medical expenses or even weightloss programs, or the complex procedures employed by the IRS to collect your tax debts.
3. They Can Sort Your Self-Employment or Business Taxes for You
Did you know that there are separate taxing systems for individual, businesses or corporations?
If some days you worked from home last year or telecommuted every day, it can affect your taxation. If you have a large home office or have some other investments apart from your regular work, all of these situations could be reflected in your income tax filing. None but an expert can figure it all out. You should go for a tax attorney free consultation to know how you can save more money in taxes.
4. They Can Offer Sound Advice
Don’t think your attorney’s job is all limited to this year’s tax filing only. If your future tax filing has already got you worried, you can approach your attorney to figure out ways to cut down on your tax liability. They have both the expertise and knowledge to figure out your ideal methods and implement them.
5. They Can Prevent You from Going Behind Bars
Yes, you read that right. Even though you cannot be imprisoned for not paying your taxes, you can be severely penalized for failure to file a tax return or pay accurately and on time. And if you are caught up trying to evade taxes or cheating on them, you might very well end up behind bars. Accusations of tax fraud or similar crimes can be the result of an ill-informed mistake. In that case, your attorney will advocate for you to keep you on the right side on the law.