Awards & Recognition
How Can a Tax Attorney Help Me?
Hiring a dually licensed California Tax Attorney and CPA to handle your personal or business tax returns could seem like overkill if you are used to managing your tax affairs alone or with the help of a lesser qualified tax advisor & preparer. Nevertheless, there is a heap of benefits to be gained by working with a tax law office that is experienced with a broad range of beneficial or detrimental tax law issues that may apply to you. Here are some reasons that will highlight why you should consider hiring the Tax Law Offices of David W. Klasing for all your tax planning, compliance, and controversy needs.
Assistance with Tax Compliance, Planning and Controversy Representation
If your business or personal income taxes are becoming too costly or complex for you to easily manage with or without the assistance of your current tax advisor / preparer, there is a higher chance that you could make a costly tax planning or tax filing error. Whether a serious error on an income tax return is accidental or intentional can put your very liberty, livelihood, and net worth at risk. The very presence of an error invites unwelcomed scrutiny by the IRS or by the various State Taxing Authorities.
Fortunately, our firm is highly skilled in tax planning and compliance and controversy defense of trusts, estates, domestic or international businesses as well as individual income tax returns. Each available entity type has tax advantages and reporting challenges from C and S Corporations to Partnerships or Limited Liability companies which ties in well with our entity formation services which are very advantageous to you when starting or expanding a new or existing domestic or international business.
We can help you accomplish your tax planning and compliance goals in several ways. For example, if you are having difficulty accurately accounting for your taxable & reportable income, we will work diligently to minimize the risk of being audited for a reporting error stemming from faulty accounting by producing accurate books. Additionally, we are intimately familiar with the common triggers for an income tax audit and how to properly substantiate a tax return to bolster the odds of being able to successfully face a Federal or State income tax audit with little to no assessment of additional tax, penalties, and interest by the taxing authorities and thus help avoid or end a pattern of repeating audits.
Additionally, if you have earned or received income related to foreign financial accounts, offshore businesses or investments, or foreign trusts, gifts, or estates, we understand how to navigate the complicated process of reporting the foreign income and staying in compliance with the numerous foreign information reporting requirements. You can trust us to offer you the legal and accounting services you need and deserve to avoid facing draconian civil and criminal penalties related to foreign account holdings, foreign assets and the related tax and information reporting.
Compliance with New Tax Laws
With new regulations being passed practically every year and a complete overhaul of the tax system implemented by the Trump administration expected by the Biden Administration, it is nearly impossible for a layperson to ensure they are always compliant with new rules. Our dually licensed California Tax Attorneys and CPAs keep a close eye on new tax law developments that have the potential to affect our clients. For example, if you engage in the trading of virtual currencies, we will provide you with the tools you need to make sure you comply with the slew of new regulations for these currencies to the extent possible.
Minimizing Tax Liability
The goal of tax planning for an individual or a company is to minimize tax liability as much as possible. Our firm could help you with the following methods for reducing tax liability:
- Selecting tax efficient investments
- Claiming deductions that you qualify for
- Tax-loss harvesting from investment losses.
- Maxing out a 401(k), profit sharing, defined benefit plans
- We will examine the unique circumstances of your tax liabilities and identify a tax plan that works for you.
Legal Representation for a Tax Audit
Whether it is being performed by a State Taxing Authority or the IRS, a tax audit is not a welcome experience for any taxpayer. There is a myriad of reasons that your tax returns might have triggered an audit. For instance, if you reside in California but are employed by a company in a neighboring state, this will increase the risk of being audited as you will face taxes in two different states.
In some cases, a taxpayer may be unfortunate enough to face a state and federal audit because of a tax-reporting error that has cascaded into additional issues.
When facing a state or federal tax audit, you want to know that you have legal representation that will do their best to defend you. The dually licensed California Tax Attorneys and CPAs at our firm are experienced in representing clients in multiple types of civil, eggshell, and reverse eggshell tax audits. We are intimately familiar with the process of state and federal tax audits and are available to speak with you about your tax audit woes.
Experience with the US and Foreign Tax Regulations
The U.S., unlike many other countries, taxes its citizens and residents on worldwide income. For a taxpayer, keeping track of every dollar in foreign and domestic financial accounts could be extremely stressful when it comes time to file taxes. Trust us to inform you on how to deal with the U.S. and foreign tax regulations that affect your tax returns.
Skilled at Negotiation Surrounding Back Tax Debt
Whether you owe large amounts of taxes to the IRS or the California Franchise Tax Board, you could likely benefit from a collection alternative that could ease your tax debt liability. However, a taxpayer who is not familiar with the collection alternatives allowed by the IRS or the FTB to satisfy a back tax debt may miss their chance to negotiate an offer in compromise, get placed into currently non collectible, file for tax motivated bankruptcy or other collection alternative. The dually licensed California Tax Attorneys and CPAs at the Tax Law Offices of David W. Klasing are here to help you negotiate a favorable outcome to your back tax debt.
IRS Tax Audit Attorneys
Available Now at (800) 681-1295
Getting a notice that you are being audited by the IRS can strike fear in the heart of any taxpayer. Solving the problem as quickly as possible becomes your only concern. You don’t know how the IRS could’ve singled you out.
- More than 95% of personal tax audits occur as a result of entirely objective statistical reviews of filed returns.
- Through a complex system known as “DIF” scores, IRS looks for particular items in returns that it has found from statistical analysis to indicate a higher than average chance of tax understatement.
Our IRS Tax Audit Attorneys Get Real Results
When you want to save yourself and your business from IRS penalties, interest, and possible criminal actions (including jail time), you need to hire an experienced tax audit lawyer. The IRS has extensive resources available to pursue their review of your tax records. They can dig into your financial history dating years prior to this current audit. Are you protected, if this happens? Do you have a strong legal defense?
Why You Should Hire a Dual Certified Tax Attorney and CPA
Confidentiality
Managing Liability
Negotiation Skills
Financial Expertise
Avoiding Conflicts
Saving Money
Don’t Speak to IRS Investigators Without an Experienced Attorney and CPA
Call the Tax Law Offices of David W. Klasing at (800) 681-1295 to take advantage of our experience in helping taxpayers navigate complicated audit procedures. In many cases, our clients pay the lowest possible taxes and fees allowed by law or have their audits dismissed after our tax audit lawyers argue their appeal. You won’t know how much we can do for you, until you call.
