8 Benefits of Having a Tax Lawyer for Your Small Business

Who is a Tax Lawyer/Attorney?

An attorney who focuses on taxes is referred to as a tax attorney, also known as a tax lawyer.

Tax lawyer frequently engages in tax-related analysis, client advice regarding the tax ramifications of particular transactions, and tax litigation involving disputed tax positions.

Tax attorneys can help both individuals and corporations with tax-related legal difficulties. Like many other accounting professions, they need a solid grasp of tax, accounting, and financial law.

A tax attorney’s main responsibility is to assist taxpayers and businesses in fulfilling their legal tax obligations, such as filing tax returns, while maximizing any available credits or deductions to reduce those obligations. They advise clients to comprehend their choices and navigate complex tax laws.

What Does a Tax Attorney Do?

Tax lawyers assist their clients in navigating the intricate federal, state, and local tax laws. When necessary, they represent their client’s interests before tax authorities too. The following are typical duties for tax attorneys:

1. Legal Research: To comprehend tax law and policy, tax attorneys must do the appropriate legal research. Since laws are continually updated, tax attorneys should be able to locate and use the most recent versions of the law.

2. Addressing Tax Disputes: Tax lawyers assist clients in handling tax-related disputes. They could bargain with the IRS on behalf of their customers.

3. Defending Clients in Court: When necessary, a tax lawyer will represent or counsel clients.

4. Represent the client’s interests in negotiations with the IRS: A tax attorney can assist in defending your rights. Due to their extensive knowledge of tax law, tax attorneys are well-equipped to serve as a go-between for their clients and the IRS.

5. Counseling Clients on Legal Issues: Tax-related issues like retirement, mortgages, and income are frequently the focus of client inquiries and other legal matters.

Tax Attorney Career Overview

A lucrative career option is tax law. However, tax law is extremely technical and difficult to comprehend. It necessitates a tendency toward analysis. It’s also necessary to know related disciplines like auditing and accounting. Over time, you keep improving at interpreting tax law.

The bottom line of enterprises is directly affected by tax-related advice. To consider a tax’s financial effects on a company’s profitability and liquidity, one must have business sense and commercial knowledge.

No one carries out tax law. Most options are available for subfields in tax law. They specialize in a particular area of tax law, such as transfer pricing, customs, trade tariffs, and direct and indirect taxes.

The problem, however, is that most law schools do not introduce students to the variety of professional choices that tax law offers.

Educational Background

Most tax attorneys have a bachelor’s degree in business, finance, or accounting when starting employment. Individuals take the Certified Public Accountant (CPA) certification exam to become licensed accountants.

After earning a bachelor’s degree and obtaining a CPA license, the next step is to enroll and start law school. Although it is possible to practice law directly out of law school, most tax lawyers start their careers working for other lawyers or under any law firm to get experience in the field before going it alone.

Difference Between a Tax Lawyer and an Accountant:

A Certified Public Accountant (CPA) is a five-year degree professional specializing in taxes. CPAs have a broad range of skills and are adaptable financial planners.

In addition to auditing and bookkeeping, they also manage annual financial records, prepare taxes, and plan estates. CPAs can guide you on tax issues, real estate, investments, and company strategy.

They frequently examine and audit a company’s financial records to identify areas that could be improved. CPAs assist customers with more difficult tax problems, such as running a small business, making high-value investments, or paying off debt.

Although CPAs can represent clients in IRS disputes, tax attorneys have more courtroom training and expertise. Despite completing law school and successfully passing the bar exam to become lawyers, tax attorneys are also informed and adaptable about tax-related matters. They emphasized tax-related litigation, tax liabilities, and representation in such proceedings.

They typically have stronger negotiating abilities, more legal knowledge, and more case law experience. Any information disclosed to tax attorneys is private because they must respect the attorney-client privilege.

When is Hiring a Tax Attorney Worthwhile?

By: Nataliya Vaitkevich/ Pexels Copyright 2022

Employing a tax attorney may be especially appropriate in several circumstances.

1. Estate Planning-Establish trusts, transfer assets to family members and use other measures to reduce estate taxes with the assistance of a tax attorney who can also handle the paperwork.

2. Starting a business-A tax lawyer may be able to offer advice on developing tax-wise business plans for launching, purchasing, selling, or growing a company.

3. Tax disputes- A tax attorney can assist you if you need to file a lawsuit against the IRS, a state or municipal tax body, or if you wish to appear before the Tax Court.

4. Tax reduction-A tax lawyer might be able to assist you in pursuing options like the following if you have an unpaid debt with the IRS or another tax office that you wish to negotiate or contest:

In-Compromise Offer
Relief for innocent spouse
Tax bills can be paid in instalments.

What to Look for in a Tax Attorney?

1. A law license – An attorney must hold a license to practise law. You can check on the website of your state’s bar association to see if a tax attorney is authorized to practise law in your state.

2. Indices of a more specialized or higher education- In most states, obtaining a law license also requires completion of law school. A master’s degree in taxation may be held by some tax attorneys (called an LL.M.).

Some tax lawyers are also certified public accountants, as evidenced by their possession of CPA licences.

3. The IRS requires a Preparer Tax Identification Number (PTIN) for anyone who prepares tax returns for pay. Your tax return’s preparer must sign it and give you a PTIN.

Benefits of Having a Tax Attorney for a Firm

1. Tax Code Expert:

The current Internal Revenue Service tax code is almost 1700 pages long. To help you with your tax problems, tax lawyers have the knowledge of the code and the time to examine and apply the rules lawfully and ethically.

State and federal tax laws are always changing. If you choose to handle your tax problems alone, you risk misinterpreting current tax legislation or basing your case’s outcome on old facts. However, if you hire a tax attorney, they will use their understanding of those regulations to address any issues you have with the IRS.

2. Recognizing Your Tax Obligations.

A tax attorney can inform you of the tax implications and issues related to the taxation of various business entities and the effects of taxes on business owners if you are beginning a business.

Additionally, if your company plans to hire staff, a tax attorney can help you comprehend your obligations regarding tax withholding, tax return filing, and federal tax deposits.

3. Engage in Negotiation-

A phone call or written correspondence with the IRS can be nerve-wracking. As a result, you risk giving the agent handling your case incorrect information or answers to queries.

Your tax attorney can handle all correspondence—letters, telephone, and other forms of communication—with the service on your behalf.

They will be aware of the pertinent information to provide and guarantee the accuracy of your data. You can let your lawyer handle communications with the IRS instead of accidentally providing false information and implicating yourself.

4. Help in Starting a New Business-

More stress than you might imagine might accompany starting a new company. So, choosing between a partnership, a sole proprietorship, a C-corporation, and an S-corporation is necessary to set up the firm properly.

Obtaining an Employer Identification Number, managing all paperwork, opening business accounts, and other tasks are also required. Even if you rebrand an already-existing company you purchased, this procedure can still be challenging.

With their extensive company planning experience, tax attorneys can help you with every step of the planning procedure.

5. Drafting Necessary Documents-

If you’re thinking about giving or transferring property to family members or other individuals, a tax attorney can assist with the necessary paperwork and provide tax law advice.

The benefits of gifting within an estate plan are frequently discussed with clients by a tax attorney, who will also implement these gifting methods into the estate planning forms.

6. Income and Property Protection-

Tax attorneys know how to protect your income and property. Even though the IRS may utilize your income or place a lien on your property to satisfy your tax debts, a tax attorney can assist you in safeguarding your finances by carrying out the following actions:

establishing a payment plan with the IRS,
submitting a request for an offer in compromise, paying off your tax bill,
Requesting that your tax debt be marked as “Currently Not Collectible,”
Set up a plan to pay off your tax obligation with a credit card or other payment option.

7. Protection Against Threats and Abuse-

Most IRS officers are highly professional and kind when dealing with average taxpayers. They typically won’t scare you or lie to you to get you to pay what you owe.

However, if you choose to address your tax problems alone, you run the chance of running into a rogue IRS agent who may bully or mistreat you in meetings. However, having a tax attorney at your disposal protects you from such dangers.

Additionally, your tax attorney will defend your rights throughout your ongoing tax case and act as your advocate in meetings.

8. During an IRS Tax Audit-

IRS tax audits can be stressful, regardless of whether you must let the IRS visit your business or send in your financial records for them to review. The assistance of a tax attorney might make things simpler.

The IRS will be contacted on your behalf by a tax attorney, who will also ensure you have all the records the IRS requires and assist you in submitting them for examination. Your tax lawyer can act as a liaison for you when the IRS requests additional information or has inquiries. Additionally, having legal representation is always beneficial if the IRS determines that you owe them back taxes.

Conclusion

Tax obligations are problematic, but if you hire a tax attorney with the required expertise and understanding, you can handle them or perhaps avoid them. Employ a qualified tax attorney immediately to shield you, your possessions, and your income from the IRS.

Top 4 Must Have Things for Your Mobile Offices

What is Meant by Mobile Offices or Portable Offices?

A mobile office is a temporary or portable setup of tools and services that enables someone to do business as if working from a fixed workspace. It enables employees to provide a polished appearance to shield clients or consumers from the fickle nature of workplace activities.

In contrast, it offers fundamental office functions when permanent arrangements would be expensive or unneeded. The definition of this sort of workplace has changed to incorporate the mobility of the individual worker and the mobility of the office location due to new mobile technologies.

The business world has transformed due to the practicality of mobile modular offices. A mobile office trailer refers to a temporary, transportable physical space. For instance, contractors frequently set up mobile offices in trailers, vehicles, or motor homes at construction sites to make deals.

Another instance of a short-term requirement for office operations at a particular field site is disaster response. Mobile office setups are also used for on-location movie shooting.

Mobile offices, also known as portable offices, are a short-term fix for a long-term issue: a lack of space. Temporary offices provide a fast and economical solution to your space-related needs, regardless of whether you’re remodelling or expanding more quickly than your current setup permits.

It can be built on a solid, flat surface like a concrete slab. Mobile Office Trailers flat-bed can raise and transport a movable office to a different site. Mobile offices are appropriate for today’s nomadic culture.

They are perfect for anyone who wishes to operate independently or who needs a stable storage space while building a bigger house or place of business. They are most convenient for small businesses.

Who Needs a Mobile Office?

An office is not necessary for all sorts of business. You might find success if:

You conduct business mostly through phone, email, messaging, and social media; you do not require an office building,
You operate a service or internet business,
rarely interact with customers face-to-face,
don’t require a permanent office or expensive equipment to complete your tasks,
enjoy working by yourself

Which Industries Use Container Offices?

Many different businesses utilize mobile office units; among the most widespread applications are the following:

1. Construction Site: Our contractors use portable offices to create secure workspaces on their job sites. These areas are ideal for handling administrative duties, vendor meetings, or anything else that calls for a door and four walls.

2. Schools: Mobile offices offer schools the chance to safely manage to expand populations by supplying temporary space for computer labs, classrooms, and faculty rooms.

3. Hospitals: In hospital and medical environments, portable offices provide an area for patient check-in or ambulatory services while freeing up larger facilities for more urgent needs.

4. Government agencies: During crises or large gatherings, government agencies put up mobile command centres (police and public safety personnel) and temporary spaces using container offices. They also utilize them to set up field offices before purchasing or building permanent structures.

5. Hotels and restaurants: Every single aspect of your property is precious when running a hotel or restaurant. In light of this, hospitality locations reserve interior space for meals while providing waiting rooms for customers using container offices. Additionally, these offices serve as check-in places, relieving the lobby of guest congestion and house administrative functions, freeing up meeting rooms, additional dining tables, and other amenities.

What are the Requirements for Mobile Offices?

Without the correct tools, your work cannot be done effectively. However, that’s a comparatively minimal expenditure for many office-free workers:

1. A basic laptop or PC should work OK unless you require a lot of computing power. You can collaborate with anyone worldwide as long as it has a dependable internet connection. Get one with a webcam to take part in video calls.

2. Make sure your clients can reach you quickly via mobile. If no free wireless internet is available, you can still utilize this to access the internet.

3. Purchase a high-quality headset for meetings and internet calls. Thanks to it, you can still speak clearly while there is background noise.

4. A suitable workstation: If you frequently sit at a computer, consider investing in the appropriate furnishings. It can be detrimental to force yourself into an uncomfortable sofa or kitchen chair.

Benefits of Mobile Offices

Utilizing portable offices is beneficial for several reasons. Portable offices have the following advantages over conventional office buildings:

1. Affordability: A used movable modular office is significantly less expensive than a brand-new, on-site building. If your business wants to grow but doesn’t want to build a new office quickly, a portable office can give you the space you need for whatever length.

2. Durability: Modular buildings, particularly portable ones, frequently outperform conventionally built areas in terms of quality. This is because they are produced in a climate-controlled setting, guaranteeing that no materials are harmed by bad weather.

Thanks to its streamlined, formulaic procedure, your team may use the high-quality, dependable rooms created by modular construction for weeks, months, or even years.

3. Versatile: One of the best features of mobile offices is that they are quick and inexpensive to reconfigure. For instance, some of our retail clients use their mobile offices as regular office space during slack times.

These offices can also be furnished with furniture, appliances, and shelving to complete your workspace.

4. Rapid Assembly: It takes little time to create mobile workplaces. A movable office will typically be built in less time than it would take to erect a building of comparable size. This is because portable office component manufacturing occurs off-site.

After that, they are brought there and put together. Therefore, when they finally arrive on site, only the assembly needs to be done.

Final Thoughts

A mobile workplace has several advantages. Lower costs are the company’s most valuable asset. Offices are highly expensive; for many businesses, the expenses of both rent and materials can be out of this world. With the move to a mobile office, these will either decrease or vanish.

Additionally, it concerns the workers and the conditions necessary for their efficiency. Office environments are frequently perceived as restricted and depressing, hindering productivity. Employees’ productivity and well-being might both increase if they had a choice.

Therefore, although some issues remain, having mobile workplaces is advantageous. However, if the offices prioritize maintaining the company’s software at the forefront, the negative consequences will be reduced or eliminated.

Many people think that there will be a significant change in office settings in the future.

What is Concierge Service: Top 10 Types of Concierge Services

People are becoming overworked as a result of the technological revolution. People don’t have enough time these days to do their errands.

They are constantly looking for someone to run their tasks and manage their schedules. Concierge services take advantage of this by organizing customers’ errands on their behalf, focusing on their convenience, and attending to all of their needs.

While some claim that the word “concierge” evolved from the French “comte des cierges,” which means “the keeper of the candles,” which was essentially the main responsibility of concierges during the Middle Ages, the word “concierge” is derived from the Latin word “conservus,” which translates to “fellow slave.”

Nevertheless, the role and responsibilities of concierges have evolved over time. They now carry out nearly all tasks for high-ranking managers, VIP clients of banks and hotels, celebrities, or anyone with the resources to hire them.

The Concierge Services Business Model

The personal concierge services that an organization offers to other organizations, staff members, and customers are the foundation of the concierge business model. With the concierge business model, a company offers a range of services to clients, including corporations, staff members, and people.

Once reserved for the wealthy, concierge services are now more commonly available at high-end hotels and other similar institutions. However, many small business owners are now targeting increasingly least fortunate customers with extra cash.

Due to the rapidly evolving corporate environment, technological advancements, and the lengthy workweeks of working professionals, concierge services are a relatively new concept in the luxury market.

People no longer have enough time in their lives due to these limitations. To allocate their time for important things, they now wish they had more time or somebody to perform the work for them. Concierge services’ business plan capitalizes on this necessity.

The services offered and the clients served by various concierge service providers follow distinct business models. While some concierges deal with resolving customer complaints, some deal with personal travel planning, and some deal with all of these tasks by serving as support staff or lifestyle managers, others provide these services.

Guide to the Types of Concierge Services

Here are a few examples of current business models for concierge services:

1. Luxury Concierge:

A luxury concierge is a highly skilled individual who works with clients to prepare every aspect of their ideal vacation, considering personal preferences and providing special access to the most exquisite experiences in luxurious locations.

Considering both the needs of the entire group as well as each and every individual. Providing professional guidance on the top lodging options, dining establishments, and activities. Arranging flights and private jets, hotels, tours, and transportation. You gain access to their specialized expertise while saving countless hours of valuable time.

Luxury Concierge can help high net-worth clients when they need to enter exclusive lodgings, eateries, and other area attractions. A luxury concierge will also have contacts to offer you special treatment at an opulent hotel or in a renowned restaurant or spa service.

Luxury Concierges specializing in luxury travel might be very helpful to travelers who require assistance planning an unusual vacation. They are also useful for vacationers who have a lot of time off but are unsure where to go.

Concierges that specialize in luxury travel usually exclusively assist wealthy clients and charge a fee for their assistance.

Luxury concierge services are acting as the genie for the nation’s ultra-rich, providing everything from travel to far-off places, exclusive private dining reservations in upscale restaurants, a personal shopper at your beck and call, and getting real artwork from auctions; All demands are granted, and for the proper price if they adhere to moral and legal standards.

2. Lifestyle Concierge:

Your personal and professional lives will be balanced thanks to the support of a lifestyle concierge so that you can devote enough time to your family, concentrate on vital things, and work more effectively.

It is a customized service that addresses important aspects like maintaining a balanced personal, familial, and professional lifestyle.

These services take care of every aspect of managing your entire lifestyle, allowing you to place more emphasis on the activities you enjoy the most. The client, in this case, pays a monthly fee, requests a lifestyle manager, and outsources their personal tasks to an agency.

CEOs, celebrities, and extremely busy people frequently hire lifestyle concierges to achieve balance in their lives.

3. Hotel Concierge:

As the name suggests, a hotel concierge service helps its affluent guests. It is also among the concierge’s oldest and earliest variations.

The job and responsibilities of a hotel concierge include making reservations, ordering transportation, purchasing the ticket, ensuring your safety, sharing in your celebrations, resolving any travel-related concerns, organizing your accommodation, and assisting you with any special needs.

A professional hotel concierge usually always finds a solution to the personal issue a visitor is experiencing while staying at the hotel or resort.

This service guarantees that all your needs will be met immediately and safely. The main objectives are a pleasant experience, personal help, and reputation building.

4. Travel Concierge:

The person who offers clients personalized travel help is a travel concierge. Because it enables you to have a comfortable and exciting trip, this concierge service also qualifies as a personal concierge. Additionally, it takes care of your travel tasks when you’re too busy to handle them yourself.

When tourists travel to foreign countries, they require a quick guide to get around and mingle with the people. The travel concierge fills this function since he is a native who is well-versed in local customs and available to help you during your tour.

These businesses are well-versed in international travel’s legal, social, and cultural ramifications and pre-arrange/book everything to ensure a smooth trip.

5. Concierge Medicine:

In the popular concept of concierge medicine, the patient pays a flat/annual charge or a fee for more individualized care and easy accessibility to their doctors. There are numerous other names for concierge medicine, including member medicine, retainer medicine, direct care, and cash-only practice.

Since the doctor doesn’t need to handle many patients to make ends meet, and the patients receive prompt and individualized care from their doctor, the concierge medicine business model benefits both the doctor and the patients.

6. Corporate Concierge Services:

The corporate concierge helps clients with their business-related needs. A corporate concierge’s other responsibilities include arranging social events, dinner reservations, ticket purchases, and business negotiations.

The corporate concierge’s duties also include setting up and attending conferences and meetings, fixing the company’s computer or contracting it out, hiring temporary staff, and setting up translators for the business.

Although college degrees are not a prerequisite, some corporate concierges are quite qualified and hold them. To work as a corporate concierge, one needs to communicate well.

7. Personal Concierge:

The duties of personal concierge services include a variety of chores like bill-paying, housekeeping, event planning, making hotel and restaurant reservations, packing and moving items, personal care, booking transportation, pet sitting, booking flights, and other such services.

You will be considered a personal concierge if your work is legitimate. You can engage a personal concierge on a task-by-task and project basis or a monthly income basis. The distinction between a personal concierge and other concierge services is that a personal concierge helps his clients wherever they need it, whether at home or elsewhere.

8. Residential Concierge:

The residential concierge is the individual who works from home or is situated close to the building. Residential concierge wages and pay range depending on the task and client.

The obligations and responsibilities of a residential concierge include attending to and greeting visitors, restaurant reservations, household management, paying household bills, vacation planning, travel arrangements, offering personal assistance at home and direction when necessary in the event of an emergency, and other such services.

9. Digital Concierge:

The individual who transforms your hotel from analog to digital is the “digital concierge.” We can get information from websites, but mobile applications are the new generation of digital concierges.

Customers and clients benefit from the convenience of examining and monitoring everything quickly.

The digital concierge may offer directions, maps, workplace locations, arrival and departure times for planes and trains, and information on your favorite nightclubs and eateries.

10. Wedding Concierge:

For the past ten years, this service has caused disruption. Its goal is to help couples plan weddings by offering several service levels and package options. The client pays a hefty fee to use this service for a set number of hours OR a full day.

Brides, grooms, and parents make service requests based on their budget and target market. Here, the concierge has sufficient knowledge to make pre-wedding plans and set up all required requirements before the wedding event, which will go off without a hitch.

Duties of Concierge Services:

Concierge responsibilities and duties differ depending on the circumstance. The following are some of the responsibilities of concierge services:

1. Making restaurant reservations and purchasing tickets for their customers.

2. Gather information on the bar, person, hotel, or other location and give it to the client.

3. Arranging for travel and scheduling consultations with the trainer, physician, or other professionals.

4. Working temporarily at the office, managing their clients’ mail, luggage, and deliveries.

5. Handling challenging and uncommon duties for their customers, such as hot-air balloon rides.

6. Recovering the client’s lost items.

7. Providing personal assistance services to their clients.

8. Recognizing customer demands and offering solutions by recommending the hotel’s activities and amenities.

9. Assisting guests with various tasks.

10. Providing exclusive access to private members’ clubs, private parties, health insurance policies, vacation planning, and lifestyle management.

11. Looking for special events and procuring tickets from the same.

12. VIP access to clubs with a huge number of rich crowds.

13. Hiring personal assistants for each and every client.

Future of Concierge Services

The concierge service industry’s functionality has changed due to the internet, technology, and mobile applications. Today, a person in the US hires an Indian concierge to book flights, make hotel reservations, and manage his calendar on his behalf.

Technology has reduced the cost of a virtual concierge. Now even middle-class individuals may afford to hire personal concierges. Some of the smartphone apps that can help you manage your text messages, arrange your schedule, have conversations, and do your shopping are Google Assistant, Haptik, Assist, and Alexa.

Additionally, the market is no longer underdeveloped and undermarketed. The sector has now opened its doors to customers with middle-income levels thanks to the created technology, which includes Artificial Intelligence for concierges.

Today, many high-level managers, VIP clients, influencers, and celebrities struggled with work-life balance. As a result, these services are frequently sought to handle all of the clients’ errands and chores and ensure they are free from a hectic schedule.

As individuals worldwide want more and more convenience in their lives, concierge services have become more widespread.

These factors together demonstrate the growing demand for concierge services, which makes it one of the finest business models for your startup and one with the least amount of competition.

Final Thoughts

Professionals can invest their time more wisely in their essential tasks with a concierge service. As a result, individuals may increase their productivity and utilize their time more effectively.

They can get help from a concierge service with their non-essential job and personal responsibilities. However, not everyone needs a concierge service; some like to complete tasks independently, some love devoting hours to research, and others believe they can get by without outside assistance.

However, for those in the know, a concierge service that can assist clients with every travel, lifestyle, and leisure demand that they don’t have the time, skill, or want to perform themselves has a wealth of advantages.