Taxes are a part of life, but they can also be incredibly complex and confusing. Attempting to keep up with the ever-changing tax code or trying to handle tax issues on your own can cause stress, eat up precious time, and frankly, lead to costly errors and dead ends for the average person. Why put yourself through that? It’s far wiser to work with a skilled tax attorney. Even if you consider yourself to be more tax savvy than most, there are times when unexpected issues arise. In these situations, having an experienced tax attorney in Denver, CO on your side can make all the difference.
From creating customized tax strategies to handling special types of tax returns, these professionals can provide the guidance you need to achieve the best possible outcomes. Here are just five of the most common reasons why you might need a tax attorney.
How a Tax Attorney in Denver, CO Can Help You
A tax attorney in Denver can be an invaluable asset when it comes to a number of things. They are trained in all aspects of taxation and can provide expert advice on a wide range of matters. These are some of the many ways a tax attorney can help:
1. You are Handling Business Matters
Tax attorneys in Denver understand the unique needs of businesses in this area. They can assist with structuring your business, tax planning, filing specialized returns, and more. Businesses must comply with both federal and state tax laws. Depending on the type of business, there may be specific requirements that need to be met. A tax attorney can help ensure your business is structured for optimal tax outcomes and asset protection. They can also provide guidance related to any changes or modifications needed as your business changes and grows.
2. You are Estate Planning
Tax attorneys can help you create a detailed estate plan that meets your individual needs. Estate planning involves more than just the distribution of assets; it also includes preparing for potential financial and legal considerations that cover various circumstances, including terminal illness, vegetative state, and death. Though these are difficult topics to think about, making decisions about your medical preferences, finances, and business is crucial for ensuring your wishes are carried out properly. A tax attorney can ensure that all your affairs are handled accordingly, so that your heirs aren’t burdened during an already painful and difficult time.
Your attorney will work with you to determine what type of estate planning tools are appropriate for your situation, such as wills, trusts, powers of attorney, and health care directives. Depending on your assets and goals, a tax attorney may suggest creating a revocable or irrevocable trust that may help you avoid probate court, reduce taxes, and provide more control over the distribution of assets after death.
3. You Need Tax Advice
Taxes are complicated, and it can be difficult to determine which deductions and credits you qualify for when filing your return. A tax attorney in Denver, CO has the expertise to provide advice on how to best approach the complexities of tax law as they relate to a wide range of decisions. A quality tax attorney will be well versed in local, state, and federal taxes. They should be able to review your individual situation, identify opportunities for savings and guide you in avoiding potential pitfalls. A caring tax attorney will also inform you as to your options, so you can make decisions that best fit your unique goals.
4. You Want Tax Relief
If you suspect you’re paying too much tax, chances are, you’re right. Oftentimes, business owners feel confused and frustrated as they hand over a large portion of their hard-earned revenue to Uncle Sam. If this sounds like you, please consider consulting an experienced tax attorney. Tax attorneys have specialized training that gives them the ability to explore and exploit the tax code. A caring tax attorney can offer sound advice that can help you realize compounding tax savings, legally.
5. You Need to Protect Your Self and Your Rights
When it comes to taxes, protecting yourself and your rights is essential. A tax attorney can help safeguard your financial interests and ensure that you don’t fall victim to any mistakes or oversights made by the IRS. An experienced attorney can ensure that all your paperwork is filed correctly and on time to reduce the risk of an audit or other issues. If a problem does arise, your attorney can help guide you through the process and make sure that your rights are respected.
Tax Controversy Services from Fusion Legal & Taxes
When you have a tax controversy like tax liens or the IRS conducts an audit, they will examine all of your tax documents, including income statements, deductions, and credits. They may also investigate any discrepancies between what was filed and what is reported on the return. It requires a lot of research, paperwork review, and fact-gathering to determine whether or not you owe additional taxes. Because of this, Fusion Legal & Tax’s audit services are only available for tax documents we prepared.
Find a Tax Attorney in Denver, CO with Expert Knowledge
If you’re looking for a tax attorney, it’s important to find someone who is knowledgeable and experienced like the team at Fusion Legal & Tax. While many firms only have a tax accountant or CPA on staff and can only advise you can the financial side of taxation, a tax attorney has a deeper, more comprehensive understanding of the tax code as a living, ever-changing legal document. He or she therefore typically has greater facility with creative tax strategies. At Fusion Legal & Tax, we have both, so you get comprehensive tax services, including tax planning, tax preparation, IRS compliance, and more.
Contact us to learn more about the difference our tax attorney can make for you.