Why Hire a Tax Attorney

Why Hire a Prescott Tax Lawyer

Reasons You Should Seek Professional, Legal Help

If you are a business owner or own many taxable assets, hiring a tax law attorney to handle your matters is in your best interest. Many people attempt to handle their taxes themselves, but when the margin for error is slim and risk of an IRS audit high, you don’t want to allow the possibility of a mistake. Our Prescott tax law attorney at Carman Law Firm shares some reasons why you should let a professional handle your complicated tax matters.

Five reasons you should hire a tax law attorney:

  1. Tax law is complex. Tax law is a complicated and technical legal field. A lawyer understands the subtle differences between state and local taxes and how they impact a business. If you own a business located in Arizona but your business is conducted mostly in Nevada, how do you calculate your taxes? A professional can determine the answer.
  2. You can save money. Deductions are an important money saver that no business owner should miss out on. New equipment, travel costs, and other businesses expenses can add up. Without a professional’s eye, you could be missing out on thousands of dollars back in deductibles.
  3. Your time is valuable. As a business owner, your job shouldn’t be about spending hours and hours on tax legalities and fine print. Treasury Regulations and The Internal Revenue Code together fill about 1,700 pages of legal explanations and long-winded answers. By hiring a tax law lawyer, he or she can be left to go through the paperwork, and you can focus on your other affairs.
  4. Employee taxes can be an issue. When dealing with employee taxes, it is vital to understand the details in order to avoid an audit from the IRS. For example, which of your “employees” is an actual employee versus an independent contractor? Or what about you—are you an employee, employer, or both? You may find the distinctions confusing, but a tax lawyer won’t.
  5. The IRS expect you to know better. Unfortunately, tax law changes frequently and not knowing these regulation changes can negatively impact your life. When the IRS comes knocking on your door, you will not be able to say “I didn’t know any better” and just hope the problem will go away. Hiring a tax attorney can help cut the risk of this ever happening.

If you are ready to let a Prescott tax attorney handle your tax affairs, contact Carman Law Firm today at (928) 255-0943.