New Business? New Company? New Opportunity?
The Importance of Early Tax Advice for First-Time Business Owners
First-time business owners typically do not get the very-affordable advice from a tax lawyer. I know this because I see the results – years later as we work to clean up very expensive messes that need never have happened! 🙁
Understanding the Difference Between Business and Personal Taxes
Even the simplest business is looked at by the tax authorities differently than the old days of working for someone else. Going into a business situation without knowing that business tax and personal tax is so different often finds the business owner in trouble of being audited by the Internal Revenue Service – not to mention the State of California Tax agencies – who can be even more trouble in these days of busted budgets and tax coffers that these agencies are attempting to fill: on YOUR BACK!
Prevent Future Headaches: Hire a Tax Lawyer
To save yourself from future headache and stress, hire a tax lawyer for a one or two hour review of your business plan. Such a simple, cost-effective consultation from a skilled and knowledgeable tax lawyer can prevent so many critical mistakes from happening.
Strict Tax Regulations: IRS and State Tax Agencies
The State EDD, SBE, and FTB in addition to the Internal Revenue Service are very strict when it comes to the smallest tax mistakes – either in the way you conduct day-to-day business or mistakes found by a tax audit that will result if there is an error to your taxes. Penalties, interest, and even jail time threaten many of my past and current clients from the most innocent-seeming choices made from simple ignorance of tax and business protocol. To prevent this from happening to you, get the service of a tax lawyer to help you kick around your new business and brainstorm how to save the most possible tax liability legally while staying free of big trouble.
Ensuring Tax Compliance for Existing Businesses
If you already have a business and you want to know what to do with your taxes, the most effective way is to hire a tax lawyer because of the expertise in understanding tax law and making sure that your taxes are in order before filing.
Maximizing Deductions and Exemptions for Small Businesses
Remember, deductions and exemptions can help you to reduce your taxes — especially if you are running a small business. Those deductions, when properly taken, can save some serious money for you to use, pay yourself, or expand your business. Consider taking on the affordable service of a tax lawyer to make sure what deductions and exemptions you can purpose to take advantage of that can be legally applied to offset your taxes. Take advantage of the knowledge and experience of your tax lawyer to put make certain that you and your business is safe from the Internal Revenue Service.
