When Do You Need a Tax Attorney?

When Do You Need a Tax Attorney?

  • 16 Jun Off
tax lawyer

In your hour of need, a tax lawyer proves of great help. A tax lawyer is not like accountants; he fights the law. It’s not possible for accountants to handle all things associated with tax planning, that’s where a tax lawyer comes into play. He helps you plan the best course for your future.

A tax lawyer is required to have a Juris Doctor degree, commonly called J.D. He must be admitted to a state bar for practice, and these are just minimum requirements. Tax lawyers have advanced training in tax law.

If You’re Starting a Business

When you are starting any business, a tax lawyer can provide you guidance in what kind of business entity you should set up. The tax lawyer will tell you if you can function as a sole proprietor, a corporation, a limited liability company or other. The tax attorney can give his advice about the structure as well as the tax treatment of your company. Not only that, but a tax attorney can also guide you in some non-tax issues that businesses don’t usually consider including liability protection.

In addition to that, if you like to engage in international business, you’ll have to keep in mind several contracts, tax treatment, and a number of legal matters. In these types of circumstances, a tax lawyer can help you and guide you so that you won’t land in trouble.

Owning a Business Overseas: It is the aim of every business to make a profit. A tax lawyer can give insight to clients about any tax exemptions so that they don’t require to pay any unnecessary taxes.

Buying or Selling a Business: A tax lawyer takes care of things such as capital gains and depreciation to decrease the tax liabilities.

Leaving Property or Money to Heirs: Estate planning is complex, and it is sub-specialty of tax law. An estate planning attorney can help you best structure passing your business to heirs.

For assistance with tax planning, estate and business planning, please call us at 262-812-6262 to arrange a complimentary meeting.


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