In people’s minds the word “tax” usually means having to part with a share of their hard earned money, and “lawyers” mean having to pay out even more money. But it is possible that a good tax attorney or lawyer can actually make money for you and that too from the IRS.
Sounds hard to believe, but with the proper tax advice you can in fact claim money from the government in the form of deductions and allowances you are eligible to claim. Here are some ways in which a tax lawyer in Los Angeles will help you pay less in the form of taxes.
It is best to get a tax attorney or lawyer file your tax returns. With the experience they possess they will be able to plan out your business and financial affairs in such a way that you will have to pay the minimum taxes. There are also the many deductions and concessions you are eligible to claim on your taxes but which you were unaware of. Planning your taxes well ahead will make it possible for you to pay lesser taxes. The tried and tested tax planning techniques used by tax lawyers will guarantee the most favorable result for you.
Since the tax return will be prepared accurately there will be no penalties resulting from any errors which you may have made.
When you have not paid taxes on time
This can land you in a lot of trouble. When you receive a notice from the IRS about the back taxes you owe, dealing with it on your own can cause a lot of stress for you as well as consume a lot of your time maneuvering your way through the legalities. An experienced lawyer from the law offices of Jeffrey B. Kahn P.C. will know what approach to take to get the back taxes waived off or negotiate an installment repayment plan.
Since back taxes can result in wage garnishment it is very important that you immediately consult with a tax lawyer in Los Angeles to attend to the matter.
Your tax liabilities will literally follow you to the grave. After your death, your estate will be distributed among your heirs and there will be estate and gift taxes to be paid. Estate planning will reduce the tax liability by a considerable amount. You can have your last will and testament drawn up by your tax lawyer who can also act as a will lawyer and probate lawyer.
When starting a business
Hire a tax lawyer and have a financial plan set out and have them point out the area’s most likely to be overlooked and explain all the obligations and liabilities you are responsible for.
Guest post provided by Kahn Tax Law: Adhering to the advice of a tax lawyer in Los Angeles representing the law offices of Jeffrey B. Kahn P.C. will make sure you will not find yourself faced with the payment of any penalties.