If you’re thinking about working with a tax lawyer, you may not know what you should understand going into your first meeting. Knowing what to expect can help you make the most of your time working with the best tax lawyers in your area. Here are four things a tax attorney would like you to know before you step into their office.
What Tax Credits You May Be Eligible For
Although the best tax lawyers are well versed in how to get different tax credits, they may not know whether or not certain tax credits will apply to you if they don’t know enough about your background. Because of this, researching tax credits that you believe you’re eligible for before meeting with your attorney can be extremely helpful. If there are any credits you’ve gotten in the past, you should also be sure to bring those up as well.
You Can File Separately If You’re Married
Although most married couples will be filing jointly, it’s possible to file separately and reap some tax benefits from the process. It can open up different possibilities for writing off more on your taxes and can also work even if you have children that you’re claiming as dependants. This process may be more time-consuming than filing together, but that doesn’t mean it’s not worth it.
What Tax Attorneys Are Responsible For
Knowing exactly what a tax attorney is responsible for is an important part of understanding how they can specifically benefit you. Tax attorneys are able to assess complex tax-related issues and give you legal advice and help to navigate tax gray areas that you may be unsure about. If you have complex issues or have a business that has to deal with local, state, and federal governments, a tax attorney can be very helpful in dealing with those different bodies of government.
Tax Attorneys Are Different From CPAs
The best tax lawyers and the best CPAs are different in a couple of key ways. Firstly, when it comes to the process of becoming a tax attorney, you have to get a bachelor’s degree as well as a law degree before you can be a certified tax attorney. A CPA has to complete their undergraduate degree as well as a CPA certification. There are many other differences, but that is one of the main ones.
When you’re looking for the best tax lawyer to help with taxes for the fiscal year, which for the IRS runs from October 1 to September 30, you should make sure you research tax attorneys and what they do. If you’re in the Chicago area, contact our firm today to find out how our tax attorneys can help you.