What Business Owners Need from Their Tax Attorney

As a business owner, you understand the importance of expert legal representation for your company, particularly as it concerns taxation and compliance. But do you take the same level of care with your personal financial matters?

As complex as corporate taxation issues can be, business owners and highly compensated individuals face their own risks and liability issues. For that reason, you want a personal tax attorney who can capably deliver the diverse suite of services you need.

Finding a lawyer with a solid grasp on laws and issues regarding taxation is imperative. However, you must ensure that your tax attorney is truly committed to getting and keeping you compliant with the IRS and applicable state taxation entities.

Tax attorney for business owners

In-Depth Knowledge of Complex Subject Matter

With somewhere in the range of 7.7 million words of tax law and approximately 60,000 pages of case law related to tax matters, the complexity of the federal tax regulations alone is mind-boggling.

Despite this overwhelming level of complexity, business owners look to their tax lawyer to know and understand the laws and regulations as they apply to their situation. In addition, lawyers must have an equally strong grasp on state-specific taxation matters.

An Up-to-Date Handle on Recent Tax Changes

The federal tax code changes every year in dozens (sometimes hundreds) of ways. Some of these changes are high-profile and substantive. However, others are more subtle and unheralded — but critical to understand, nevertheless.

Business owners need their tax attorney to be aware of every change and update, no matter how inconsequential they may seem.

Otherwise, you won’t be able to adequately plan for the future. You could miss out on tax savings to which you’re entitled, or worse, find yourself in trouble with the IRS, facing penalties, interest and even the potential for legal action.

Commitment to Compliance

In the process of tax planning, complex estate planning, asset protection and related matters, compliance is non-negotiable. Failing to remain in compliance with federal and state taxation laws and regulations inevitably leads to both financial and legal liability.

Non-compliance triggers audits, fines, compounding interest and the potential for criminal prosecution, not to mention the time required to answer to the IRS. Business owners need a tax attorney who is committed to keeping them compliant.

The highly experienced team at Cantley Dietrich assists business owners and highly compensated individuals with tax-related matters, including tax planning and estate planning. Our focus on asset protection assists our clients in minimizing their tax liability within the confines of applicable laws and regulations.

If you are a business owner, particularly a small to medium-sized, closely held business, you need a tax lawyer who understands the unique challenges you face on a personal level. Contact one of our offices today to schedule your personal consultation with one of our knowledgeable, experienced tax attorneys.