For individuals or companies, navigating complex tax laws can be stressful. To avoid errors and legal troubles, working with an experienced tax lawyer is the best way to ensure that you are following all tax regulations. A tax lawyer understands the tax laws of the concerned country. They are well-versed with all the regulations and policies at the federal, state, and municipal levels. These professionals offer two types of tax-related services- Tax Planning & Tax Disputes. Tax planning lawyers help people and businesses organize their financial affairs in order to lower their tax liabilities while avoiding an IRS audit. They also provide services to deal with tax controversies to defend companies and people against IRS or state tax agencies audits, investigations, or legal actions.
Both tax planning and handling tax controversies are essential to save money and staying tax compliant. So, if you need any such tax-related service, hiring a seasoned tax lawyer is the best choice. But are you unsure how to locate the best tax lawyer for your unique needs and circumstances? Finding a qualified tax lawyer can be tricky because not every professional is experienced enough to manage complex taxes. When it comes to cross-border taxation, it becomes even more important to find the right professional. So, if you’re looking for a reliable tax lawyer, here are some factors to consider when making a hiring decision.
Your Taxation Needs
Your search for the right professional should begin with identifying your needs and figuring out the type of taxes you need assistance with. Taxes are of different types such as property tax, income, business tax, estate tax, and more. Depending on the type of taxes you need help with, you need to search for a professional specializing in that specific area. The lawyer you choose should have plenty of experience handling the type of taxes you are dealing with.
Qualifications
Tax lawyers need to obtain a degree in law and should be licensed to practice. When it comes to tax law, the lawyer should have specialization in the field. You can look for credentials like CPA and verify the lawyer’s credentials on the website of your state bar. License and accreditations ensure that the attorney has the knowledge and expertise in tax laws and IRS rules. They should have experience in handling tax issues like IRS audits, appeals, litigation, tax debt resolution, and more.
Specialization
When it comes to taxation, specialization is important. The lawyer should have specialization in the area of tax law. It is important to understand that state tax matters aren’t same as the estate taxation. So, depending on what type of services you need, look for a professional specializing in a similar area of taxation. Tax law firms usually provide services such as estate planning, corporate tax, real estate tax, tax planning, etc. To ensure a lawyer’s expertise in a specific area, take a look at their reviews and ratings. Online reviews and testimonials can help you understand if the lawyer is competent in handling tax issues.
Your Budget
The above factors can help you in finding a competent tax lawyer but your budget is also an important consideration. You should shortlist a few qualified lawyers and then discuss their fees. Finding out how much a tax lawyer charges for specific services helps you understand if their services fit your budget. Some charge a flat fee and some bill per hour.