Hiring an Orange County tax attorney is something that many people won’t ever have to do in their lives, but there are time when the services of a tax attorney are essential. This is especially true as April 15th looms nearer, the date that both federal and state taxes are due for Americans.
Whether you need a tax preparer or a tax attorney is confusing to some people, but they are actually completely different types of professionals. A tax preparer can help you to prepare your fairly normal tax situation, whereas an attorney is needed in more outlandish, difficult tax-related scenarios. Here are a few instances where it is necessary to hire the services of a tax attorney.
You recently became a business owner
Doing taxes for a business is way more complicated than doing your own personal taxes. There are so many questions involved, like whether you function as the sole proprietor and what type of business entity you have. Any and every business decision you make will affect the way your taxes need to be completed; hiring a tax attorney will alleviate all of the stressors involved.
You plan on filing a lawsuit against the IRS
If the Internal Revenue Service has contacted you that you are being audited or a suit is being filed against you, then you will DEFINITELY need a tax attorney on your side. Maybe you don’t take it all that seriously, but you are technically under criminal investigation for tax fraud. If you want to file your own case against the IRS, you’ll need to find a reputable tax attorney in your area.
You participate in international business
The way taxes are done in foreign countries might be different than the tax system in the US. Even if you don’t actually have a business overseas, you just conduct some of your American business internationally, you’ll need a tax attorney to help you with documents, contracts, and other legal processes.
You think you’ll have a taxable estate when you die
Nobody like to think about life after death, but in terms of taxes sometimes you need to. If you foresee yourself having a ton of money when you pass on, $5.6 million if you are single and $11.2 for married couples, then you will have a “taxable estate”. Each year this number increases, but if you have what qualifies as a taxable estate when you die, your heirs will have to pay a tax of up to 40% on your estate.
How to Find the Right Tax Attorney for You in Or
When you hire a tax attorney, you should be sure to find one that has a good reputation within the tax community. Always look into the attorney’s educational background and credentials. Where did he or she attend law school? Does the attorney have admission in the state board? And of course, how much does the attorney cost? You should also look into his/her specialization in tax situations and make sure that they align with your needs.