How a Lawyer Can Help in Tax Situations

 In Tax Law

Though hiring a lawyer might be a good idea if you think you’re in hot water with the IRS, it’s not necessarily the only great time to consider doing so. This is because a lawyer can help with a myriad of legal situations, not merely after you’ve encountered trouble with the IRS.

Starting a Business?

For example, if you’re a business owner it means that you must abide by laws that carry serious penalties for failing to do so. A lawyer can help you better understand those laws. Plus, a lawyer can help you determine what type of business you plan to set up. There are numerous business options for you to choose from. Should you set up a sole proprietorship, partnership, or an LLC? A lawyer can help you decide that.

And if you do successfully get your business up and running, what then? The legal ramifications don’t end. You must pay taxes on your business earnings. A lawyer can help with that as well.

In addition, if you engage in international dealings, you might need to decide what tax laws do and don’t apply to you. If can be difficult to keep all of this straight on your own.

Leaving an Estate?

A tax lawyer can also be helpful if you plan on leaving behind an estate after you pass away. Depending on the size of your estate, your family may be looking at a sizable tax burden. A lawyer can help you determine ways to ensure more of the money stays in your family, instead of being paid in taxes.

Trouble With the IRS?

And lastly, if you are looking at an IRS audit or criminal investigation, you are dealing with an extremely serious matter. Jail time is possible for those found to have fraudulently filed their taxes. Otherwise, you may simply be looking at severe penalties for not paying your taxes on time.

A lawyer can help you navigate the nuances of tax law and various situations. They can respond to the IRS for you and can determine if there’s been a mistake in the IRS’ assessment of your tax situations.

They can be indispensable support when you’re dealing with the confusingly, intricate tax system. They may even keep you out of jail! If you need a lawyer, consider Slaughter Law Firm. We’ve been keeping people out of trouble since 1997.