It’s sad to say, but what you do with your taxes can make or break your business success. There are many kinds of taxes from a number of sources. Our tax laws are complicated because they are formed of rules that come from different types of laws:
- Statutory
- Regulatory
- Constitutional
- Common-law
We have constantly changing laws on federal, state, and local levels that regulate taxation, as well. Most Ohio businesses need an Ohio tax attorney to help them.
The Laws Are Constantly Changing
Not only does Congress constantly update our federal tax code, but so does our state legislature. Local authorities make occasional changes as well. No one can stay abreast of all the laws and implications in addition to doing his regular job. That is why a tax attorney becomes so valuable.
Timing Is Everything
Tax attorneys continue to monitor current laws and the applications for them. They know if you are in compliance with the current law, as well as how laws that are in the works may affect your company. There are times that it is prudent to act before a new legislation becomes law. Other times the new law will be more favorable. Your tax attorney will know.
Income Tax Planning Is Key
There are many kinds of taxes to take into consideration. Your Ohio tax attorney can help you plan for and minimize any of these:
- Federal income tax
- State income tax
- City or municipality income tax
- Real Estate tax
- Sales tax
- Employee payroll tax
- Inventory tax
Ask your income tax attorney for ideas on how to minimize your personal taxes or call a small business tax attorney for assistance with all your business tax needs including income taxes if you are set up as:
- Sole Proprietor
- Partnership
- LLC
If you are a corporation; however, and do not have an in-house corporate attorney who is trained in tax law, you should consult a corporate tax attorney. Corporate laws are different from those for other types of business structures.
Salvage What You Can From Your Mistakes
For many reasons, people sometimes cannot make the tax payments on time. It is not always their fault. If you find yourself with this problem, it may be time to get back in compliance with the law. If this is allowed to continue, really bad things could happen. Talk with your business tax attorney about negotiating a settlement with the IRS for you, and what it would take to get you out of this situation.
Help Is As Close As Your Fingertips
Contact Brunsdon Law Firm for help in any tax situation. Whether it is preparing personal income tax forms or corporate representation at an IRS audit, Terri Brunsdon has your back. Terri is a highly qualified attorney in Cuyahoga Falls, Ohio. She serves all of Ohio as an attorney and a CPA, and West Virginia as a CPA. Terri is not only a lawyer and a CPA, but she also has her Masters in Tax. Her life in the corporate world before her legal career includes jobs as a Public Accountant and a Chief Financial Officer. Because of this background, she understands the executive mindset and the urgency of the work. Let Terri help you to have peace of mind about your tax situation.
Contact Brunsdon Law Firm to be sure that you are fully informed on your tax options and fully represented in any litigation.
