Many businesses have recognized the importance of having a secretary and an accountant at their disposal but few have realized the significance of having a tax attorney. A tax attorney is an expert who has special skills and expertise in tax laws. If you do businesses globally, then you need an international tax lawyer. Though a tax attorney is capable of representing clients in all tax aspects, he/she is more helpful when it comes to resolving tax issues. There are two ways a tax attorney can assist your business.
Ways attorneys are useful to business
Tax attorneys are tax law experts in the sense that they can manage your financial affairs to ensure you will not encounter tax hitches in future. These experts will guide you in every aspect, step and guide you to the right path when your finances are beginning to wave at the IRS.
When you are embroiled in tax controversy, a tax attorney will help to defend your rights. If you have tax difficulties, these experts are capable of helping you to straight your affairs and clear your name. Using their expertise and skills, they will help you remove penalties, if possible, remove liens and negotiate on your behalf with the government.
When should you hire a Tax Attorney?
The answer to this question will entirely depend on you. You can be ahead of tax troubles for you or business by paying a tax retainer to your attorney. Doing so, the attorney will act as an advisory and will be able to warn you when you are about to commit a tax crime. At times, he/she will coordinate with your accountant to ensure you do not have any troubles in future.
You can opt to hire services of a tax attorney when you are experiencing tax difficulties and when your negotiations with IRS have hit a dead rock. Though the first option is the best option, the second option is still better than not hiring a tax attorney all. Few individuals and businesses are capable of dealing with IRS effectively, or else, seek a tax attorney.
How much does a Tax Attorney Cost?
If you are willing to have a tax attorney and pay him a monthly retainer, the fee will range from hundreds to thousands of dollars per month although this will depend on the duties and responsibilities that the attorney will be handling. If you wish to consult an attorney, you may be charged by an hour. You should always consider services of a tax attorney if you have financial difficulties.