Do Tax Attorney’s File Taxes For You?

6 Comments

1. bobby769 says:

   May 9, 2010 at 7:01 pm

   I’d suggest using the accountant.
   But remember, the accountant can only give you good advice if you keep accurate records of your transactions.
2. ibu guru says:

   May 9, 2010 at 7:50 pm

   The tax attorney is for legal advice regarding tax matters, tax planning. The accountant does the book work and files returns. Unless you are wealthy, or your biz is complicated, or you are already in trouble, you do not need an expensive tax atty. You just need a good accountant who does small biz taxes. Might not even need a CPA, if your biz is small and you do a little homework.
3. Max Hoopla says:

   May 9, 2010 at 8:34 pm

   Go to an accountant first. If the accountant thinks you need an attorney, he will tell you so.
4. Chip says:

   May 9, 2010 at 9:20 pm

   Tax attorneys prepare some tax returns or have them prepared by staff within their firm. At least a few people have attorneys prepare tax returns that could be prepared just as well by someone else. For most small businesses, the tax attorney is not the place to start. You’ll need them only in special circumstances. By far, most small businesses use CPAs or other good tax accountants for return preparation and advice. It sounds like you also should engage an attorney to advise on issues such as the structure of your business and your legal relationships with customers and vendors. But, that doesn’t necessarily mean that you need a tax attorney.

   You were not specific about the exact nature of the complicated legal and tax matters affecting your business. Tax issues that small business owners regard as very complicated are often fairly routine for a good tax accountant or CPA. The same holds true for general attorneys who work with small businesses. You may not have encountered these issues, but they probably have. Consult the CPA or other tax professional first regarding tax issues and consult an attorney first for legal issues. Both can advise you on a regular basis and will let you know when you need to involve a tax attorney.

   You would most likely need a tax attorney if:

   (1) You are in trouble with the IRS or other tax authority, are being investigated for fraud or other criminal activity or if you think you may have done things that would cause such trouble.

   (2) You wish to challenge a negative ruling by a tax authority or take your case to court.

   (3) You are a high wealth individual whose business/tax situation involves trusts or estate planning or if your business ownership structure involves complex relationships between several partners, partnerships corporations or LLCs

   (4) Your business has international tax issues

   (5) You are engaged in or contemplating business transactions are so unusual that the tax implications are not clear based on existing tax regulations or IRS positions, especially if you are trying to structure transactions in such a way as to create a tax shelter for participants.

   Large CPA firms also do work in some of the above areas and employ some CPAs who are also attorneys specializing in complex tax situations.
5. TriciaMayo says:

   June 1, 2010 at 11:16 pm

   I took 1 st business loans when I was a teenager and this aided my business a lot. Nevertheless, I require the secured loan over again.
6. Finn says:

   September 15, 2010 at 7:26 am

   I just linked this article on my facebook account. It’s an interesting read for everyone.