To discover how a certified tax attorney can ensure that you fulfil all of your federal and state tax obligations, simply continue reading. As you’ll find a list of the top reasons why you may want to hire a San Diego tax attorney.
6 Key reasons to hire a certified tax attorney:
To learn about your income reporting responsibilities:
In order to avoid being made to pay penalties, it’s a wise idea to talk to a certified tax attorney about your income reporting responsibilities. Especially if you own a business. As business income includes revenue which is derived from property and investments as well as income from sales.
To learn about state taxes:
If you’re confused about your state tax obligations, your chosen San Diego tax attorney will be able to run through your state tax obligations with you. So that you’ll be well aware of all your state tax obligations. As an example, if you operate a business in numerous states, you may also be required to pay state taxes in multiple states.
To keep up to date with changing tax laws and regulations:
As federal and state tax taxes change on a frequent basis and a new tax code is released on an annual basis, a certified tax attorney can help you stay up to date with the latest tax laws. As if you mistakingly follow an old tax code, you could be fined by the IRS.
To learn about employee taxes:
If you own a small to medium sized business, your tax attorney will be able to assist you in managing your employee taxes.
To manage your tax obligations as an independent contractor:
Alternatively, if you work for yourself as an independent contractor, a tax attorney will also be able to help you make your quarterly tax payments. As the IRS is paticularly strict with independent contractors.
To use business deductions to offset your income:
An experience tax attorney will also be able to assist use in using business deductions to your advantage, in order to offset your income. While you can apply for business deductions without a tax attorney, a large percentage of business owners who apply for business deductions on their own, have their applications denied.
It’s well worth investing in hiring a San Diego tax attorney, if you want to significantly decrease your chances of getting into legal trouble with the IRS. Especially as a new tax code is released every year.