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Frequently asked questions

Do You Offer Free Consultations?

Yes, we offer a Virtual Strategy Session to assess your needs.

What if I just have a "quick" one-off question?

Most Tax Laws have special rules and exceptions which need to be carefully considered as part of your tax strategies. Providing generic answers to a Tax question can be detrimental to your situation and have negative long-term impacts. As such, our Firm policy is not to answer one-off questions until we have established an engagement and have a good understanding of your entire picture. This allows us to provide you with tax planning solutions for your unique situation. Therefore, during our initial FREE strategy session, we will not answer specific tax questions. Any specific tax strategy questions will be addressed as part of your Tax Planning Engagement.

What is a Virtual Tax Law & Consulting Firm

Our Firm is completely virtual (and has been since its inception) and we advise clients across the United States. Without expensive brick and mortar offices, we can reduce overhead costs, create a better work life balance for our employees and provide a more efficient process for our clients.

As a Virtual Firm how do you meet with clients?

We use video conference and screen sharing technology to interact with you.

How do we exchange sensitive documents?

All sensitive documentation and documentation with personal identifying information (PII) is sent and received through our secure portal with multi-layer encryption technology to keep your information safe and confidential.

What are the benefits of working with a Tax Attorney that specializes in Tax Planning?

The Tax Code is complex and written in legalise and tax jargon. A Tax Attorney is the only Tax Professional with a comprehensive formal education in interpreting, analyzing and applying the tax code, tax regulations and tax laws. While "DIY" books, tips, guides may present different strategies that may fit within your individual facts and circumstances, often-times tax strategies interact with one another and the effect of implementing one strategy could actually be counterproductive to your tax savings, retirement or asset protection goals.

I heard that working with a Tax Attorney is expensive and I should just go to an Enrolled Agent (EA), CPA or other Tax Professional for Tax Planning Advice.

There are several articles with misinformation regarding the fees of Tax Attorneys which can be skewed by outdated pricing models of the "Big Firm" where partners could charge upward of $1000/per hour. Because of the low barrier and "unregulated" entry into the tax industry, many non-Tax Attorneys would like for you to believe that Tax Attorneys are only for big business due to their formal education; however, this is far from the truth. Our Firm offers affordable services and uses a flat-fee pricing model which is in alignment with the Tax Planning industry. We keep our overhead low which allows us to offer quality and expert services to the small business owner.

I heard that I only need a Tax Attorney if I am in "Tax Trouble".

Absolutely not! If Tax Attorneys are needed only in times of "Tax Trouble", wouldn't they be best suited to implement proactive strategies so you wouldn't get in trouble in the first place? In addition to Tax Controversy matters, Tax Attorneys are also equipped with the knowledge and expertise to advise on proactive tax planning, asset protection and tax compliance matters.

Does implementing Tax Strategies increase the likelihood of an Audit?

Absolutely not. Many audits are random and based on internal IRS algorithms. Unfortunately, as a business owner you have a higher probability of getting audited than a W-2 wage earner because of business ownership, but the likelihood of an audit is still relatively low. Watch out for Listed Transactions: On the otherhand, if you implement strategies that are IRS "listed transactions", such as conservation easements, micro-captives, etc. then there is a higher probablity that the transaction will be audited because they are on the IRS' "hot list". IRS Listed transactions are subject to change.

Am I a good fit for Tax Planning if I currently owe the IRS?

Yes, if you are profitable and make at least $150K in net income, we encourage you to schedule a Strategy Session. Implementing tax strategies can assist with you paying off the debt in a more tax efficient manner.

What is a Master of Laws in Taxation (LL.M in Taxation)?

A Master of Laws in Taxation is a specialized degree awarded to attorneys who complete advanced studies in tax law. The program typically lasts one year and is completed after the attorney has already obtained his or her Juris Doctorate (J.D.) degree. An attorney does not require a Tax LL.M. to practice tax law, but because today’s tax code has become so complex, many tax attorneys find it beneficial to pursue advanced studies in tax law if they become serious about specializing in tax law. The Master of Laws in Taxation degree is a recognition that these attorneys have completed advanced training in tax law and are tax specialists.

I have a CPA or Tax Preparer aren't they already providing tax planning services?

Most CPAs or Tax Preparers who file your tax returns (you hand them your paperwork at tax time) are not performing tax planning and that does not make them an incompetent tax professional. Tax Preparation for small businesses and high-net individuals can be complex and time consuming which can make creating and implementing a tax plan for their clients nearly impossible. Most of these firms or individuals are preparing tax returns from January through October (the extension deadline). If you do not have a written proactive tax plan in place and want to keep more of what you earn, we encourage you to schedule a free strategy session with us. There is no harm allowing a fresh set of eyes or second opinion to review your tax and asset protection situation.

I thought my Self-Preparation Tax Software optimized my tax situation to make sure that I am paying the least amount of taxes.

Tax preparation software does not provide tax planning. Think about it: It asks probing questions as you input your information regarding what you "did" in the tax year. If you answer no, it moves on to the next probing question. This software is great at nudging you to remember transactions entered into during the year that qualify for some type of deduction or credit. But remember tax planning is done throughout the year and if not done prior to year-end, then you've missed out!

What is your pricing structure, do you charge by the hour?

All of our services are flat fee engagements. We do not charge by the hour. During your Strategy Call, we review your needs and provide you with a proposal that is tailored to you.

Should I work with a Tax Lawyer if I am starting a new business?

ABSOLUTELY! Taxes and compliance will ALWAYS be a part of your business so why not form a Tax Savvy business from the start. Our Tax Attorneys are credentialed and specialize in tax and compliance. We offer affordable flat-fee services to start-ups because we want to equip the new wave of business owners with must-have knowledge to encourage Tax Savvy business lifestyles.

How do I know which Tax Advisor is best for me?

Tax Preparation and Tax Planning have low barriers of entry and is mostly "unregulated" as it relates to non-licensed professionals. Unfortunately there are "Tax Pro Moonlighters" that appear during the months of January through April to make a quick buck or those who are looking for a lucrative career change but do not have the foundational knowledge to advise on such critical financial matters. A lot of these moonlighters do not stay abreast on the changing tax laws or even understand the tax code. The small business should be mindful of this trend. It is important to weigh the education and experience of the Tax Advisor because bad or unethical advice can cause long-lasting effects on you and your business. Lastly, when provided tax strategy recommendations please make certain the Advisor can provide written tax authority to back up each recommendation, and effectively explains how it applies to your individual situation. When you decide to work with us, you can be confident that we check all the boxes.

What is your Audit Protection Guarantee?

Most audits are RANDOM. Audits are not painful if you have documented and substantiated EVERY SINGLE strategy, deduction and credit on your tax return. Therefore, there is no need to worry about not being prepared if randomly audited, because we prepare the documentation for each and every strategy we recommend and implement. All strategies implemented through our recommendations will have an audit protection guarantee. Meaning that if you are ever audited based on one of our strategies, we will represent you to facilitate a smooth audit experience.

When preparing a tailored tax plan do you take state tax laws into consideration.

Absolutely. Although, federal tax law will be most prevalent within the tax plan, we make sure to provide state specific tax recommendations and implications.

How often should I have my tax plan reviewed?

Your tax plan should be comprehensively reviewed at least every 2 to 3 years. It is likely that within that time-frame:

  1. Tax laws have changed or sunsetted,
  2. Your facts and circumstances have changed,
  3. Business Revenues have changed or
  4. The business has added a new service or product
  5. Etc.

What are Advanced Tax Strategies?

Advanced tax strategies are more complex strategies, some examples include:

  1. Cost Segregation
  2. Research and Development Credit (R&D)
  3. Hiring Credits
  4. Interest Charge Domestic International Sales Corporations (IC-DISC)
  5. Section 199A optimization

I thought I needed to be "RICH RICH" for the Tax Code to work for me and my business?

Absolutely not! Most big businesses have floors of Tax Attorneys on staff year-round where their only job is to save money on taxes and protect business assets. Unfortunately many small business owners are uncelar of the difference between tax preparation and tax planning and fail to proactively plan throughout the year.

Do you provide registered agent services with the formation of the business.