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There are several articles with misinformation regarding the fees of Tax Attorneys which can be skewed by outdated pricing models of the "Big Firm" where partners could charge upward of $1000/per hour.
I heard that I only need a Tax Attorney if I am in "Tax Trouble".
Does implementing Tax Strategies increase the likelihood of an Audit?
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)?
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).
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.
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.
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.
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.
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:
Tax laws have changed or sunsetted,
Your facts and circumstances have changed,
Business Revenues have changed or
The business has added a new service or product
What are Advanced Tax Strategies?
Advanced tax strategies are more complex strategies, some examples include:
Research and Development Credit (R&D)
Interest Charge Domestic International Sales Corporations (IC-DISC)
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.