Tax seasons represent a difficult time in the lives of individual citizens and business owners. No matter your state of preparedness and previous status, there is one thing you can count on. Help is available, no matter what. You can hire a Certified Public Accountant, or a Tax Attorney to fulfill your tax-related needs.
You can avail of the services of a tax professional based on their specialty. However, before you choose them, you need to know what these specialists do.
What is a Certified Public Accountant (CPA)?
A CPA has to work hard to gain their certifications. They have to complete demanding hours and courses in their studies. After that, they have to pass rigorous testing. Their education does not finish once certification is gained. They have to renew their licenses every few years and keep their competency above reproach.
Unlike the people you see at the local tax preparation chain, a CPA is something unique and above. They possess much more knowledge, as well as experience. CPA’s are very good at handling complicated tax situations. A business owner, divorcee, parent, and high-profile investor; all are better off wanting to hire a CPA for their tax situations.
There is no one better than a CPA which can help you abide by the local or federal laws, all the while ensuring you receive maximum benefits and minimum liabilities. It is best if you hire a professional and cheap CPA expert near you. They can help you with your accounting, tax planning, auditing, creating a financial plan, and more.
What is a Tax Attorney?
A tax attorney is a legal professional with a law degree. They qualify to bypass the State bar exam and specializing in the legal side of tax preparation. While a CPA is an excellent tax professional to help resolve a difficult tax situation, a tax attorney is the best to represent you in case of legal trouble with a tax authority.
Tax attorneys are specialists in tax laws. They can help in legal tax matters, settling back taxes, resolving unfiled returns, halting wage garnishment, dissolving property liens, dissolving account levies, settling compromises with the IRS, and more. You must approach a tax attorney for settling a legal dispute regarding your taxes. Your tax preparer cannot offer you as much assistance as tax attorneys in such matters.
Tax attorneys have further specializations. For instance, you can choose one who specializes in dispute resolution to resolve an issue with the inheritances, trusts, and estates.
What is the Right Type of Tax Assistance for You?
Consider your tax matter at hand before deciding which professional tax expert to choose. You can go with a CPA if all you want is proper filing and minimization of tax liabilities. On the other hand, if you receive a debt collection notice, a Tax Attorney’s services will be the best for you.
You have the option of retaining a tax attorney if the case is long and complex. Confide in your tax specialist to carry out your best interests and follow their advice to avoid trouble.
Tax attorneys can even help in structuring your assets in a way that will minimize legal repercussions and liabilities. For basic tax preparation and sorting the numbers, no one is better than a CPA.
Both CPAs and Tax Attorneys have their respective expertise. Where a CPA is an expert in the financial side of tax prep, a Tax Attorney can provide invaluable advice in face of adversity. Speak to the experts at SG Inc CPA, the best tax resolutions and tax preparation firm in Plano, Texas for assistance in helping you choose the best option for you at a minimal cost.