When You Need an Attorney’s Help in Myrtle Beach
For both individuals and businesses, the need for tax-related legal assistance can be critical. If you have any concerns about your taxes that require advice or representation from an attorney, you should seek out qualified tax law counsel in your local area. In Myrtle Beach, residents and business owners are particularly well-served by tax law attorneys, who can address a wide range of issues involving tax obligations, tax law compliance and tax planning. The most basic reasons that people would seek the help of an attorney involve disputes with the IRS , including: Tax planning is another area where tax lawyers are useful. Oftentimes, by planning ahead and thinking through the potential ramifications of your decisions, you can avoid costly legal issues down the road. One example of tax planning is making sure your business is properly structured to minimize your tax obligations. A tax attorney in Myrtle Beach can walk you through the options and help you determine the best path for you. Any tax dispute or legal issue can become quickly overwhelming. A tax law attorney will ensure your rights are protected and you receive a fair result.
What to Look for in a Myrtle Beach Tax Attorney
Finding the Right Tax Attorney in Myrtle Beach: Your Comprehensive Guide
Experience: You want a tax attorney with plenty of experience dealing with cases like yours. Whether you’re facing an IRS audit, filing for bankruptcy, or managing a business tax, a seasoned professional will be able to navigate through South Carolina’s tax laws with ease. Specialization: An attorney who specializes in tax law will be more familiar with the particularities of tax codes and regulations. For example, if you operate a business, you’ll want to find a tax attorney with expertise in employment taxing and business categorization. Familiarity with South Carolina Tax Codes: South Carolina has its own set of tax regulations. You’ll need a tax attorney who understands both state and federal laws, including any relevant exemptions or special rulings. Compassion: A great tax attorney is someone who will genuinely listen to you, answering your questions and advising you based on your unique needs. Where many people are hesitant to ask their tax preparers for help, a qualifed attorney will encourage you to ask as many questions as you need. Responsiveness: You should never have trouble getting in contact with a tax attorney for advice or follow ups.
Types of Tax Law Services Available in Myrtle Beach
Finding the Right Tax Attorney in Myrtle Beach: Your Comprehensive Guide
The tax code is a living, breathing document that changes as often as the seasons. Not only do tax laws at both the state and federal levels change on a regular basis, but taxpayers also often find themselves in precarious positions when it comes to tax code enforcement. Thankfully, tax attorneys in Myrtle Beach offer a host of services to those in need.
Tax Planning
One of the best ways to avoid trouble with the IRS is through proactive tax planning. While proactive tax planning can be done in-house by anyone with a modicum of financial sense, the benefits of working with a tax attorney on such matters are numerous. A Myrtle Beach tax lawyer will help you look at your estate from a broader point of view and shed light on how the decisions you make today can affect your family’s fortunes for many years to come. Instead of just focusing on immediate taxes owed, a good tax attorney will help you minimize taxes for as long as possible. With a personal hand in financial planning, you never have to worry about what the IRS or IRS agents think about your finances. As an important side, having your assets in order is great if you’re already facing a challenge from the IRS. Being able to show a tax attorney that you took steps to minimize taxes and were not purposely hiding assets can be a huge difference maker. Estate planning can save your heirs thousands of dollars in taxes, allowing you to leave them behind greater legacies when you pass. Corporate tax planning offers similar benefits for business owners and can help you avoid tax-related penalties in the future.
Audit Defense
Even with tax planning in place, it’s still possible for the IRS to initiate an audit. Tax audits happen in a variety of ways, from depleted resources to aggressive direct intervention by the IRS agents. The consequences of being unable to present an adequate audit defense can be severe. First, you may lose some valuable deductions, which means you owe more money in taxes because you did not have proper records in place. In hundreds of thousands of cases, the IRS requires penalties and interest: If you owe a $1,000 penalty today, but 12,000 tomorrow, just wait a few months until it adds up to $17,700 in penalties and interest. The real costs of an audit can be stealthy, but they don’t have to be—good legal assistance from a Myrtle Beach tax lawyer can go a long, long way in helping you prepare for inevitable audits before it’s too late.
Tax Dispute Representation
Sometimes, no matter how well we plan, we find ourselves in tax disputes with the IRS. Those with chronic medical conditions, terminal illnesses, and unplanned events may find themselves helpless against aggressive action from the IRS. In these cases, a Myrtle Beach tax attorney may be the only lifeline available.
How to Find the Most suitable Tax Attorney for You
When faced with the prospect of hiring a tax attorney, it’s critical to go about the selection process thoughtfully. While price is an important factor, you’ll also want to make sure you find a professional who has experience in your particular situation. Here are several considerations in choosing the best tax lawyer for your particular situation and needs.
Client reviews- A great place to begin your search for a tax attorney is by checking client reviews at sources like Google, the Better Business Bureau, Yelp, Avvo and more. This feedback can help you gauge their abilities and whether they’ve been successful in helping others like you.
Consultation services- Any reputable tax firm will provide you with the opportunity to meet for a consultation. These consultations may be in person or via phone , depending on your circumstances.
Check their history- Spend a few extra moments looking into the attorney’s history. For example, what is their level of education like, where did they attend law school, and how many years they have been practicing law? Understanding your tax lawyer’s background may help you feel more confident that you’re making a good choice.
Success rates handling similar cases- If you can find a tax attorney who has successfully handled cases just like yours in the past, you may have more confidence in hiring them to handle your case. If they don’t have any recent history of handling similar cases, it doesn’t always mean they aren’t the right fit, but requesting this information can help provide you with valuable insight.
The Price of Engaging a Tax Attorney in Myrtle Beach
It’s no secret that hiring a tax attorney is expensive. You want the best representation possible, and to get there requires an investment. Here’s a look at some of the standard costs associated with tax attorneys.
Hourly fees: These fees, which are typically between $200 and $400 per hour, are used to pay for general services. At Raven Law Firm, we charge $275 per hour. Per hour is more of a threat than a promise, though—most clients will not face charges beyond our initial consultation. Most issues can be settled in two or three sessions with a tax attorney, so rest easy knowing that you won’t have to pay a tax attorney to go over every document in your tax file.
Retainer fees: Some tax attorneys may require a retainer fee before beginning work on a case. Don’t mistake this with the idea that they’ll keep the retainer no matter what: A retainer is just that—a deposit against the costs of services rendered. The final bill will be charged against the retainer, and your attorney will usually return any unused portion.
Other fees: You may or may not face other fees, such as filing fees or fees for consultations. Most tax attorneys won’t charge for phone calls, so don’t be afraid of reaching out with minor questions.
On average, you can expect to spend at least $1,500 or so as you negotiate a settlement with the IRS. On the positive side, this could add up to a whopping savings for your wallet. You’ll never know just how much you can save without a tax lawyer.
All FAQs on Tax Attorneys in Myrtle Beach
When should I hire a tax attorney?
It is better to hire a tax attorney before trouble arises. However, if you find yourself in a legal dispute with the IRS, you should hire a tax attorney immediately. If you have received tax notices from the IRS, the earlier you get a tax attorney involved, the better your odds are to sort out the problem. For what you will pay, it is worth the price of mind.
What do tax attorneys do?
Tax attorneys defend their clients’ interests in all matters of tax law for both individuals and businesses. They represent their clients before federal and state courts, and before the IRS, and on tax matters that have not been resolved at the administrative level.
A tax attorney that specializes in litigation appears in court for their client. A tax attorney advising on real estate coordinate investments, purchasing, leasing, sale, or other arrangements for the owners and buyers of real property.
How much does a tax attorney cost?
The costs of hiring a tax attorney vary depending on the complexity of the case, the tax attorney’s experience , and where you are located. Generally speaking, tax attorneys can charge anywhere from $200 to $400 an hour.
For more specific rates, it is best to contact a tax attorney and set up an appointment to discuss your situation.
What do I tell my tax attorney?
You should be open, honest, and forthcoming with all the facts about your situation when meeting with a tax attorney. If there are issues with past returns or if the IRS is after you for a failure to file, do not attempt to hide the truth, it will be discovered. The truth will set you free, in this case. If your tax attorney is going to help you out, they need to have the whole picture, warts and all.
What is my tax attorney’s role?
Your tax attorney will be your guide through the thicket of tax law. A good tax attorney will advise you on how to proceed, and help you navigate the complexity of tax law. A tax attorney will explain the legal ramifications of your financial decisions, and help you to become compliant with federal tax law.
A tax attorney will represent you before the IRS.