Why You Need a Florida Tax Attorney?

Do you have tax questions? If so, where do you go? Maybe you have a friend who is an accountant and can provide advice on your personal taxes. Perhaps your financial advisor can assist with your business taxes. Or maybe you just Google your questions. 

If this sounds like you, then it’s time to seriously consider investing in a Florida tax attorney. A CPA or financial advisor can assist with some of your tax needs, but they cannot give you the personal attention that a tax attorney gives their clients. 

Tax laws are complicated for everyone, and even the simplest mistakes can have severe consequences for your future finances. With so much at stake, it’s essential that you seek the assistance of an experienced Florida tax attorney if you have any doubts about the state of your taxes.

Hiring a Florida Tax Attorney Is the Smart Move

Whether you are a business owner, an investor, or have a side hustle that nets you income, you are responsible for paying your taxes. While the IRS offers some leniency to taxpayers who have made a mistake, those who intentionally try to avoid paying their taxes will face severe penalties. 

If you are facing a hefty fine or jail time, it may be tempting to try to solve the issue on your own by hiring an accountant to prepare your taxes. While this may seem like a good idea, it can land you in even more trouble. 

Accountants are responsible for reporting your taxable income, but they are not trained to find any ways you could reduce your taxes. If you want to hire an accountant and file your taxes yourself, it is best to wait until you have received and reviewed suggestions from a Florida tax attorney. 

A tax attorney is trained to find any deductions and credits that you may miss. They can also review your information and make sure that it is accurate.

Why Does Everyone Need a Florida Tax Attorney?

As we mentioned, hiring a tax attorney is essential if you have made any mistakes on your taxes. But even if you are unsure about your taxes and want a second opinion, a tax attorney can review your information and make sure everything is correct.

When you file your taxes, you have to report all of your income and any expenses that you used to earn that income. Your expenses are subtracted from your income to determine your taxable earnings. If you forget to report an expense or forget to deduct something, you could face fines, penalties, and increased taxes. 

An experienced Florida tax attorney will find any mistakes and ensure that the information you report is accurate, which can save you money in fines and avoid issues with the IRS.

The Dangers of Not Hiring a Tax Attorney

If you are not sure about your taxes, waiting to hire a tax attorney might seem like the best option. However, if you believe that you have made a mistake, it is important to address it right away. 

A mistake on your taxes could mean that you have to pay the IRS more money or that you are not receiving the credits or deductions that you are entitled to, which could affect your future finances. 

If you have made an honest mistake on your taxes, the IRS will likely provide you with a warning letter. If you have made a mistake that you know about and do not correct, you could face fines or penalties. 

A mistake on your taxes can also delay your tax refund, which can be a serious problem if you are relying on that money to pay for bills or expenses.

What Can a Tax Attorney Do for You?

When you hire a Florida tax attorney, they will go over your information and make sure that it is accurate and that you are getting any deductions and credits you are entitled to. If you are unsure about your deductions, it can be difficult to know what is relevant to your situation. 

A tax attorney can review your situation and make sure you are able to deduct as much as possible. In addition, a tax attorney can ensure that your deductions are reported correctly. 

3 Mistakes That Can Land You in Trouble With the IRS

1. Not Understanding Tax Laws: Tax laws are complicated and can be difficult to understand. While it may seem like common sense to report your income accurately, not understanding the laws can result in a major mistake on your taxes. You could face penalties, increased taxes, and even have to pay back taxes if you are not careful. 

2. Unintentional Mistakes: Even if you have tried your best to report your taxes accurately, you may make an unintentional mistake. Maybe you misread the instructions or reported your income incorrectly. If you believe you have made an unintentional mistake, it is best to correct it right away. While you are unlikely to be audited in the first place, an audit can take months or even years to complete.

3. Failure to Report Income: If you fail to report all of the income that you have earned, you may get away with it for a while. But the IRS is always increasing its efforts to find those who are trying to avoid taxes. If you fail to report a significant amount of income, you will likely receive a letter from the IRS. If you ignore that letter, you could face fines and penalties and even have to pay back taxes.

Conclusion

A tax attorney can assist with any tax issues that you may be facing. If you have made a mistake on your taxes, a tax attorney can help you correct it and avoid fines and penalties. If you are being audited, a tax attorney can assist you in defending yourself and ensuring that you receive a fair outcome. They can help you report your income, deductions, and expenses accurately to avoid any issues with the IRS and ensure that you receive the maximum refund possible.

Call Florida Tax Attorney Mary King Today

Mary has a wealth of experience and knowledge in all areas of taxation law, helping individuals and businesses alike with their tax-related issues. Let her be your partner to ensure that everything is done correctly and that no questions are left unanswered. Contact The Law Offices of Mary King today!

Phone: 941-906-7585

The information in this blog post is for reference only and not legal advice. As such, you should not decide whether to contact a lawyer based on the information in this blog post. Moreover, there is no lawyer-client relationship resulting from this blog post, nor should any such relationship be implied. If you need legal counsel, please consult a lawyer licensed to practice in your jurisdiction.