Tax Attorney New Hampshire: What You Should Know
Tax Attorney New Hampshire: What You Should Know
Tax laws and regulations can be complex and ever-changing. A tax attorney has specialized knowledge and expertise in tax law and can help you navigate the intricacies of the tax code. A tax attorney can assist in developing strategies to minimize tax liabilities, plan for the future, and avoid future problems. If you’re facing an audit, tax investigation, or litigation, a tax attorney can provide legal representation and help protect your rights.
How To Choose A Good Tax Attorney in New Hampshire
Choosing a good tax attorney in New Hampshire can be a daunting task, but here are some tips to help you make an informed decision:
- Experience: Look for an attorney with experience in tax law, preferably in New Hampshire. Ask how long they have been practicing tax law and if they have handled cases similar to yours.
- Reputation: Check the attorney’s reputation online and with professional organizations such as the New Hampshire Bar Association. Look for positive reviews, testimonials, and recommendations.
- Communication: Communication is essential in any legal matter. Choose an attorney who is accessible, responsive, and communicates in a language you can understand.
- Fees: Ask about the attorney’s fees, how they charge, and what services are included in the fee. Compare fees and services with other attorneys to ensure you are getting a fair deal.
- Compatibility: Choose an attorney you feel comfortable working with, and who understands your needs and goals. You will be working closely with your tax attorney, so it’s important to have a good working relationship.
- Consultation: Finally, schedule a consultation with the attorney. Use this time to ask questions, assess their knowledge and experience, and determine if they are the right fit for your needs.
Seeking A Tax Attorney In Your City?
The biggest cities in New Hampshire, by population, are:
- Manchester – With a population of approximately 111,000, Manchester is the largest city in New Hampshire. It is located in Hillsborough County.
- Nashua – With a population of approximately 89,000, Nashua is the second-largest city in New Hampshire. It is located in Hillsborough County, near the border with Massachusetts.
- Concord – With a population of approximately 43,000, Concord is the third-largest city in New Hampshire. It is the state capital and is located in Merrimack County.
- Dover – With a population of approximately 32,000, Dover is the fourth-largest city in New Hampshire. It is located in Strafford County, near the border with Maine.
- Rochester – With a population of approximately 32,000, Rochester is tied with Dover as the fourth-largest city in New Hampshire. It is located in Strafford County.
Common Fees For Tax Attorneys in New Hampshire
The fees for tax attorneys in New Hampshire can vary depending on the attorney’s experience, the complexity of the case, and the amount of work required. Some common fee structures for tax attorneys in New Hampshire include:
- Hourly Rates: Many tax attorneys charge an hourly rate, which can range from $200 to $500 or more per hour, depending on the attorney’s experience and the complexity of the case.
- Flat Fees: Some tax attorneys may charge a flat fee for specific services, such as preparing and filing tax returns or representing you in an audit or tax controversy.
- Contingency Fees: In some cases, tax attorneys may work on a contingency fee basis, where they receive a percentage of any tax savings or refund they are able to secure on your behalf.
- Retainer Fees: Tax attorneys may require a retainer fee upfront to cover the cost of their services. This fee is typically based on the estimated amount of work required and may be refunded if the full amount is not used.
It’s important to discuss fees and fee structures with your tax attorney upfront so that you have a clear understanding of the costs involved and can avoid any surprises.
Common Individual Tax Issues
There are several common tax issues that individuals may face when filing their tax returns or dealing with the IRS. Here are a few examples:
- Failure to File or Pay Taxes: Failure to file tax returns or pay taxes on time can result in penalties, interest, and other consequences.
- Errors on Tax Returns: Failing to report income, claiming deductions or credits that are not allowed, or making other errors on tax returns can result in penalties and additional taxes owed.
- Tax Debt: If you owe back taxes or have unpaid tax debt, the IRS can take collection actions, such as wage garnishment, levies on bank accounts or property, and filing liens against your property.
- Audits and Examinations: The IRS may audit or examine your tax returns to ensure that you have accurately reported your income and claimed appropriate deductions and credits.
- Identity Theft: Tax-related identity theft occurs when someone uses your personal information to file a fraudulent tax return or claim a refund.
- Innocent Spouse Relief: If you filed a joint tax return with your spouse and he or she made errors or engaged in fraudulent activity, you may be eligible for innocent spouse relief.
Corporate Tax Issues
Corporate tax issues can be complex and may vary depending on the size and structure of the corporation. Here are a few common corporate tax issues that businesses may face:
- Tax Planning and Compliance: Corporate tax planning and compliance involves understanding the tax code and regulations and developing strategies to minimize tax liability while complying with all applicable laws and regulations.
- Tax Credits and Incentives: Many businesses may be eligible for tax credits and incentives, such as those for research and development, hiring, and vary by jurisdiction.
- IRS Audits: Like individuals, corporations may also face IRS audits or examinations to ensure compliance with tax laws and regulations.
- International Taxation: For multinational corporations, international taxation can be particularly complex, involving compliance with tax laws and regulations in multiple jurisdictions.
- Entity Selection and Structure: The choice of entity and corporate structure can have significant tax implications, including the treatment of profits and losses, and the ability to take advantage of certain tax incentives.
Common Tax Resolutions
When individuals or businesses have tax issues, there are several common tax resolutions that may be pursued. Here are a few examples:
- Installment Agreements: An installment agreement is a payment plan that allows taxpayers to pay their tax debt over time, usually in monthly payments. This can be an effective way to resolve tax debt and avoid more severe collection actions.
- Offers in Compromise: An offer in compromise is an agreement between the taxpayer and the IRS to settle tax debt for less than the full amount owed. This can be a complex process, but can result in significant tax savings.
- Innocent Spouse Relief: If a taxpayer filed a joint tax return with their spouse and the spouse made errors or engaged in fraudulent activity, the innocent spouse may be eligible for relief from the resulting tax liability.
- Penalty Abatement: Penalties for failing to file tax returns or pay taxes on time can be significant. In some cases, taxpayers may be able tinvesting in certain areas. Properly identifying and claiming these credits can result in significant tax savings.
- Transfer Pricing: Transfer pricing involves setting prices for goods and services between related entities, such as parent and subsidiary companies, in a way that complies with tax laws and regulations.
- State and Local Taxes: Corporations must also comply with state and local tax laws and regulations, which can be complex ando have these penalties abated if they can demonstrate reasonable cause for their noncompliance.
- Audit Reconsideration: If a taxpayer disagrees with the results of an IRS audit or examination, they may request an audit reconsideration to have the audit results reviewed again.
Risks of Using a Tax Attorney in New Hampshire
While there are many benefits to using a tax attorney in New Hampshire, there are also some risks that taxpayers should be aware of. Here are a few potential risks:
- High Fees: Tax attorneys can be expensive, and their fees can add up quickly. Taxpayers should be prepared for the possibility of high fees when working with a tax attorney.
- No Guarantee of Results: While a tax attorney can provide guidance and representation, there is no guarantee of a specific outcome. Taxpayers should be aware that there is always some level of risk involved in using a tax attorney.
- Potential for Conflicts of Interest: If a tax attorney also represents other clients who are in conflict with the taxpayer, this can create a potential conflict of interest. Taxpayers should ensure that their attorney has no conflicts of interest that could impact their representation.
- Limited Scope of Representation: Tax attorneys may be limited in the scope of their representation, depending on the specific issue and the taxpayer’s needs. Taxpayers should be clear about their expectations and the scope of their representation before engaging a tax attorney.
- Possible Legal Issues: In rare cases, using a tax attorney may result in legal issues, such as malpractice claims or disciplinary actions. Taxpayers should ensure that their attorney is licensed to practice in New Hampshire and has a good reputation in the legal community.
When Do You Really Need a Tax Attorney?
If you are accused of tax fraud or evasion, it is in your best interest to hire a tax attorney. A tax attorney can represent you in legal proceedings and help you navigate the complex criminal and civil penalties that may apply. If you have a complex estate, it is also recommended to hire a tax attorney. A tax attorney can provide guidance on how to minimize estate taxes and transfer assets to heirs in a tax-efficient manner.
When is a Tax Relief Company Better Than a Tax Attorney?
Tax relief companies and tax attorneys offer different services. Tax relief companies specialize in negotiating with the IRS and states on behalf of taxpayers who owe back taxes, penalties, and interest. These companies often have a team of tax professionals, including enrolled agents and tax preparers, who work to negotiate payment plans or settlements with the IRS. They may also provide assistance with preparing and filing tax returns, obtaining tax transcripts, and addressing other tax-related issues. There are situations where a tax relief company may be more beneficial than a tax attorney. Here are a few examples of where a tax relief company may be a better option:
- Your tax debt is under $250K: If you owe less than $250K to the IRS, a tax relief company may be a better option than a tax attorney. Tax relief companies can negotiate with the IRS to reduce or eliminate penalties and interest, and set up an affordable payment plan that works for you.
- You need help with tax preparation: Tax relief companies often offer tax preparation services, which can be beneficial for individuals or businesses who need help filing their taxes correctly. This can help you avoid future tax problems and penalties.
- You want to avoid the high cost of a tax attorney: Tax attorneys can be expensive, and their hourly rates can quickly add up. A tax relief company may offer more affordable options, such as a flat fee for their services.
Benefits of Using an Experienced Tax Relief Firm
Using an experienced tax relief firm can provide numerous benefits for individuals and businesses facing tax issues. Here are some potential benefits:
- Knowledge and Expertise: An experienced tax relief firm will have a deep understanding of tax laws, regulations, and procedures. This knowledge and expertise can be invaluable when navigating complex tax issues.
- Legal Representation: Many tax relief firms offer legal representation, which can be particularly useful in cases involving audits, collections, or legal disputes.
- Personalized Service: A reputable tax relief firm will work closely with clients to understand their specific needs and goals, and develop customized solutions tailored to their unique situation.
- Negotiation Skills: Experienced tax relief firms will have strong negotiation skills and may be able to negotiate with the IRS on behalf of their clients to reduce tax liability or secure a more favorable resolution.
- Time Savings: Dealing with tax issues can be time-consuming and stressful. Working with a tax relief firm can allow individuals and businesses to focus on other priorities while the firm handles their tax issues.
- Better Outcomes: Ultimately, working with an experienced tax relief firm can lead to better outcomes, including reduced tax liability, penalty abatement, and other forms of relief.
CuraDebt Tax Is At Your Service
If you are a resident of New Hampshire who needs help resolving tax debt issues, we are here to help. We have 22 years of experience helping clients with numerous tax related issues. Contact us toll free today for your free consultation. Or submit here online for a free consultation. We will find the best resolution available to you based on your financial situation. 1-877-999-0486