Tax Attorney
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Here we also provide an online store for the small business owner and the self employed. This store consists of software used frequently by the small business owner and books specifically about tax law. If you are a small business owner or self employed, the store we provide here should be useful.
While some residents within the United States do not pay a state tax, all residents of the United States are required to pay federal income tax. It all started in 1913 with the congressional approval of the 16th amendment to the constitution of the United States. This amendment resulted in a federal law which states that all residents of the United States must pay federal income tax. It is the responsibility of the Internal Revenue Service (IRS) to interpret and enforce the federal tax code.
While federal government has a tendency to waste our hard earned money at times, a federal income tax is needed in order for our form of democracy to work. The problem is that the federal tax code has gone through many revisions and alterations, creating a messy mix of tax laws which results in different interpretations.
If you do not have a basic understanding of the tax laws and how they affect your situation, the IRS will take advantage of this fact and you can end up paying more in taxes then you should. Taxpayers have a right to be protected from IRS errors, abuse, and intimidation. The job of the tax attorney is to facilitate the best possible outcome when you have an interaction of any type with the IRS. If a substantial amount of money is at stake, it would be financially prudent to hire a tax attorney. This is true at the federal and state tax level.
A tax attorney, more then a CPA, understands the intricacies of federal and state tax laws. A tax attorney can help you make it through a troublesome audit. A tax attorney can reduce fines that are due, and can help in removal of liens. If you have a small business or a self-employment tax issue, a tax attorney can help you resolve your problem.
While it is essential for a small business to have an accountant, today it is also important to have a tax attorney that you can trust in the case of a federal or state tax issue. This is especially true if your tax issue is beyond the capability of a CPA, and if their is a probability of possible future litigation for the case to be resolved.
Even more importantly, a competent tax attorney can head off problems before they develop. A tax attorney can access the tax situation for a small business and let the small business owner know of potential problems. A tax attorney can give valuable advise in order to prevent tax issues.
Tax laws change form year to year, so what you learned last year may no longer apply to your current situation. While the United States is due for a major tax reform, tax reform could take many years, and no one really knows how to reform it. There are some prominent Congressman who are currently pushing for a flat tax. But this has been presented to Congress in the past and it did not fly. Many people believe that a flat tax simply is not fair, and it is for this reason that a flat tax will probably never pass through congress and be approved by the President. Should someone who has an income of $20,000 per year pay the same tax as someone who is making $300,000 year. The point is, we probably will not be seeing any tax reform any time soon. So therefore, currently we have the basic maze of tax laws which are left to various forms of interpretation, and this why if you own a small business, you would be wise to have a tax attorney.
But the maze of tax laws can also work in your advantage in that a tax attorney can let you know of any tax loopholes that may prove beneficial to your small business. Most certified public accountants know about the 15 best underutilized tax loopholes. But a tax attorney can let you know about other loopholes which may fit your particular situation. The point is, as previously stated, the small business owner should have both a CPA and a tax attorney, and simply add this to the cost of running the business.
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Unfortunately, it is a sad fact that people who have a large income are more able to afford a tax attorney, and this tax attorney can help that person find the right tax loopholes in order to reduce that persons tax burden. This is further proof that our current taxation structure really favors the rich. But the small business owner has the same right to those tax loopholes in order to reduce their taxation burden. The tax attorney can help the small business owner reduce his/her tax burden, and this can give you a competitive edge over your competition. The money saved can be used to further expand your business.
A tax attorney can show you how to reduce the tax burden on your small business through a number of different ways. You can discuss with a tax attorney or your accountant the following possible tax burden reduction methods:
- You can reduce your tax liability by using family members in your business. Your children and spouse can perform duties which you assign to them, and of course you should pay pay them for the work they do. This can put you in a lower tax bracket.
- Take advantage of available deductions for charitable donations. The timing of the donations is important. Make donations in November and December, and not January in order to take advantage of the deductions for the current year.
- Use as many equipment and office supply deductions as possible.
- Remember to use the deductions available for the small business to the extent allowable by law, and that can be a lot. That includes not only equipment and office supply deductions, but also money paid to licensing fees, and annual memberships to business related organizations. Also any travel expenses incurred which are business related can be tax deductible.
These are just some of the many tax burden reduction techniques available for small business owners. You can discuss these along with others, with your tax attorney or accountant and determine which tax burden reduction techniques fit your particular situation. While a certified public accountant would know ways to reduce your tax burden, a tax attorney understands all the fine intricacies of tax law, and therefore can be an additional benefit to your business in terms of reducing your tax burden.
If you are having issues with the IRS, it is absolutely necessary to hire a tax attorney. As stated earlier, the IRS will try to take advantage of your lack of knowledge in terms of tax law. A tax attorney can help you walk through the maze of state and federal tax laws, so that you can find a way out and not lose your shirt in the process. The following are additional reasons as to why you may need a tax attorney:
Tax Attorney - Reasons Why You Need One
- If you are forming any type of corporation, for example a LLC, Ltd, Co, Non-Profit etc. It varies from state to state in terms of what is allowed.
- If you own a business, company, corporation no matter what the size, you should have a tax attorney. Because your business demands so much time any way, let your tax attorney worry about your tax situation, in order to free you up for those things which are of greater importance to you, such as expanding and developing your business.
- If your business is being audited by the IRS.
- If your company is involved in international business.
- Contract issues with clients.
- If you have a taxable estate. A tax attorney can help you with estate planning.
- A lawsuit by you toward the IRS.
- Your business results in a significant increase in income over a short period of time.
- The IRS is that 500 lb gorilla on your back, and you feel you have reached a point in your life where you want to lower your stress level.
We have provided good reasoning for the small business owner or the self-employed to use the services offered by a tax attorney. The following is a directory of tax attorneys across the United States.
Tax Attorney - Directory
Directory provided by Taxdeal.com
Tax Attorney - Conclusion
A tax attorney specializes in tax law and can provide relief to your current tax burden. While an accountant can advise you on tax issues, a tax attorney understands the intricacies of tax law, and provides to you an additional resource if your situation warrants it. If you are currently having tax issues with the IRS, the prudent small business owner or self-employed individual would benefit from the services of a tax attorney. But you do not have to wait until tax problems develop. A consultation with a tax attorney can provide to you a peace of mind knowing that your tax situation is in order, and provide advice which can prevent problems and further expense down the road. Having peace of mind frees you up for what is really important, that is enjoying, developing, and expanding your business.
Tax Attorney - Videos
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Tax Attorney - News

Home office tax deductions - Google News
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Home office tax deductions - Google News
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your money's safe as houses - The Australian
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MarketWatch.com - All MarketWatch News - TaxWatch
Copyright 2008, MarketWatch, Inc.
MarketWatch, a leading publisher of business and financial news, offers users up-to-the minute news, investment tools, and subscription products.
TaxWatch: Obama's plans may be delayed, but your tax bill will change
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TaxWatch: Election, bailout bill add urgency to your year-end tax planning
Tax planning isn't getting any easier. There are almost 300 tax-code changes worth $150 billion in the Emergency Economic Stabilization Act of 2008. While many of those perks are earmarks aimed at a narrow group, there’s plenty in the bill to keep most taxpayers busy on their year-end planning.
TaxWatch: Millions of dollars of stimulus payments, refunds sitting at IRS
The U.S. Postal Service has sent back $266 million worth of economic stimulus payments and tax refunds to the Internal Revenue Service because taxpayers’ addresses are out of date, the IRS says.
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TaxWatch: IRS' annual inflation adjustments to offer some relief in 2009
Thanks to the IRS’ annual inflation adjustments, announced Thursday, taxpayers will find a little relief from inflation’s heavy burden via their tax forms.
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Forbes.com: Legal and Tax News and Information for Entrepreneurs and Small Businesses
Copyright 2007 Forbes.com LLC
Entrepreneurs Law and Taxation get advice and information on tax issues and laws affecting small businesses from Forbes.com.
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