Both large corporations and sole proprietors of small businesses must pay taxes. Tax preparation and filing is a time-consuming process that necessitates careful preparation on the part of taxpayers. In order to fully grasp the intricacies of tax law, extensive study is required.
Lawyers who specialize in business tax law are the best people to turn to when you have questions about the taxation of your company. They advise clients on how to legally maximize tax benefits and help them resolve disputes with taxing authorities. By advising their clients on how to reduce their tax burdens, business tax attorneys help their customers expand economically. In addition, tax attorneys protect their clients from government audits related to tax avoidance. They provide their clients with access to tax litigation experts and will represent them in court if necessary.
Sales tax, employment tax, property tax, and many other local and federal tax laws all add layers of complexity to the already convoluted tax system in the United States. New businesses and sole proprietors would be wise to hire in-house tax attorneys to advise them on how to best structure their operations to minimize tax liability. In this way, they can avoid potential legal trouble with tax authorities while still taking advantage of available rebates under a variety of laws.
In addition, business tax attorneys aid and advise their clientele on matters pertaining to tax planning for business contracts, acquisitions, mergers, divestitures, joint ventures, lease agreements, ownership, and international investment. Additionally, they play a crucial role in helping their clients resolve legal disputes with auditing authorities. Lawyers try to resolve disputes out of court through negotiation or litigation if the former fails to protect their clients' interests. As a result, business tax attorneys advise their clients on how to best avoid paying taxes.