If you are wondering what corporate tax lawyers do, you should know that they help companies avoid or minimize taxes in all transactions. Taxes are not sexy but it helps that there are lawyers who specialize in corporate tax law.
If you know anything about taxes, you already know that like death, they are unavoidable. But this does not mean that you have to pay full taxes every time you sign a contract. How much you pay in taxes really depends on the type of transaction you get into. And this is the reason why you need to have a tax lawyer on board before you close any transaction.
Corporate Lawyers To Choose
If you do a quick search on Google, you’ll see that there are many corporate lawyers to choose from that specialize in taxation. What you want to do is narrow down your results based on two items: experience and size.
When we say experience, you should make sure that the law firm you hire has been doing work for the type of business that you have. Really, while there are attorneys that specialize in assisting small to medium businesses, there are those that cater only to big companies. Also, while there are those that offer tax strategies for a specific type of business, there are those that offer services for all companies and don’t care about the type of business their clients engage in.
If you have a lot of transactions in a given fiscal year, it would be beneficial if you hire a law firm bid on a retainer basis instead of paying per hour. However, if you only have one or two per month, it would be better to hire on an hourly basis.
Ways To Minimize Taxes
Tax attorneys take a look at the contract that you are about to sign and then determine the best ways to minimize taxes after determining how much you will be paying. In general, although this is not true for all, most tax lawyers are also accountants. This is very advantageous because you don’t need to hire an accountant separately. Plus you can be sure that the attorney knows what he is doing.
How much do corporate tax lawyers charge? That really depends on the law firm and the experience of, however, just to give you an idea, tax lawyers on the average earn at least $100,000 per year. You can easily tell him that you will be paying a lot of money for tax work. However, the cost pays for itself in terms of tax savings while avoiding trouble with the IRS.
Where can you find tax lawyer? You will easily find them on Google. Just search for “tax attorney” or “tax lawyer” plus the name of your local area. No matter what you do, make sure to compare at least three different law firms or individuals before deciding who to hire. Sit down with them in a consultation.
Don’t worry about how much it will cost you because the first hour of consultation is always free. To know more about tax lawyers or contact us or visit the website at https://deanhineslawyer.com/irs-tax-attorney-dayton-ohio/.