Hiring the Best Tax Attorney
There are many benefits to hiring a tax attorney. Some small business owners forego hiring one until they are faced with an IRS audit. Most of the time, it’s already too late and the damage has already been done. The best tax attorney could not only save you in times of an IRS audit but can also prevent it from happening. They are experts and have advanced trainings and knowledge on tax laws. Businesses that retain the services of a tax attorney can minimize taxation while complying with the law in various complex financial situations.
Why hire a tax attorney
The most common reason why people hire one is when they have tax problems involving back taxes, tax returns that are delinquent or not properly reported, payroll taxes, and other tax and audit issues. How do you choose the best tax attorney?
Choosing the best tax attorney
The first consideration that you need to make is whether to get a tax attorney who specializes in a particular tax law or get the services from a law firm. If you want a more personalized service, hiring a small firm could work to your advantage. However, if you have a more complex tax issue hiring the best tax attorney from a big law firm has its advantages. Because they have more lawyers, paralegals and staff working for their firm, they can pool their expertise and resources to better manage your case. Most of the time this will give you leverage in your case.
When you are in need of the best tax attorney, it is not the best time to just go with any lawyer you find in the yellow pages or the internet. First you have to know the lawyer’s or firm’s experience in handling tax issues and what their success rates are. The longer and more experience they have in dealing with the IRS, the better your chances are for a speedy and favorable resolution. The best tax attorneys know the loopholes and the ins and outs of the industry so they are able to strategize an effective action plan for your case.
Attorney fees are always expensive. You want to know how much your lawyer is going to bill you and if there are any other fees that are on top of the attorney fees. You also have to be wary of lawyers or firms that would ask you to pay all the fees upfront. Although this does not apply to all, most of these firms and lawyers will not be willing to go above and beyond their duties to resolve your tax problem as they already have your payment. Respectively, good faith money is fine as this also serves as an assurance on the lawyer’s part that you will not run away after your case is solved.
Finding the best tax attorney for your tax issue could save you from a great deal of stress of having to deal with the IRS so choose wisely and always consider the value for your money.