Its tax time and that means you need a good Phoenix tax lawyer. A tax attorney can help you by managing your taxes, maximizing your taxes by finding exemptions and tax benefits and even ensuring that any IRS tax problems are managed quickly and effectively. However, for this, you do need to find a talented professional tax lawyer and we have created a short guide just for this reason.
Step no 1 – Ask around with friends and family to find a reliable lawyer. People who are happy with their lawyers are always happy to recommend them.
Step no 2 — Check qualifications by accessing the American Bar Association website. You can also check whit the BBB and the State Financial Authorities.
Step no 3 — Set up an appointment with the lawyer and discuss your finances. Select an attorney with experience and knowledge in your area of taxation.
Step no 4 — Sign a contract with the lawyer. You may have to pay a small fee upfront to retain the lawyer. Hand over all the paperwork that is necessary for the lawyer but always check back with them to ensure that your tax application is complete.
Avoid hiring a tax lawyer who is your relative. You need a impersonal opinion of your taxes and relatives cannot provide that.
When someone suffers injury an as a result of the actions of another individual, they often file against that person for a settlement. If the court finds in favor of the injured party, the defendant is liable to pay a settlement to that injured party. This cash payment will either be a single payment, or in installments over a period of time.
Payment by installment is preferred by many people. It is easier to manage the tax on smaller amounts, and, on occasion, a structured settlement by installments may not be subject to tax.
It may be that while the trial is taking place, the plaintiff finds themselves in financial hardship. If they are injured they may be finding it hard to find a job. In this case some choose to take advantage of an advance cash settlement, taken out against whatever may be awarded in the outcome of the lawsuit. This is a low risk option for the plaintiff as, if they lose their case, they are not obligated to repay the money loaned. However, the interest rates on these settlement loans tends to be high, so taking out a loan needs careful consideration.
If a plaintiff decides that they do want to go ahead with a loan, they should inform their lawyer immediately about their plans. This is so their lawyer is not surprised when the lender contacts the lawyer to find out how the case is going. Plaintiffs need to be aware that lenders only want to make loans to plaintiffs who have a good chance of being successful in court.