The Internal Revenue Code — the collection of federal tax laws — is some 3,000 pages long — in small print. Furthermore, it is interpreted by thousands of pages of IRS regulations and by literally millions of pages of legislative history, revenue rulings, private letter rulings, technical advice memoranda, and court decisions. The law often confuses the average individual. In tax law, it is said, an ounce of prevention is worth about a million dollars of cure. Don’t take chances with tax law. Contact Thomas Hogan Law Office Stockton for assistance with your taxation requirements.
To speak with one of our Stockton Tax Attorneys give us a call at (209) 266-0316.
Tax Services for Small Businesses in Stockton
Small businesses are audited by the IRS more than any other group of Americans. And they get into more trouble with the IRS than any other group of Americans. The reason for their unending problems with the IRS is that they are subject to the same overwhelming mass of tax rules and regulations that their big-business counterparts face, but they don’t have the in-house staff of lawyers and accountants to deal with those problems that the big companies have. A small-business owner who travels on business or who has employees, for example, must have an “accountable plan” to document his company’s travel expenses. Similarly, a small business that hires a marketing consultant must determine whether the consultant is an employee or an independent contractor. In a small business, therefore, potential tax problems do not always get the attention they require. Sometimes these problems get out of control — at great cost to the business and its owners. Don’t let this happen to you. Contact the tax attorneys of Thomas Hogan Law Office Stockton.
Business Tax Law in Stockton, CA: Independent Contractors
As the owner of a business, from a tax standpoint, you want everybody who works for you to be an independent contractor. If your workers are employees, you must pay social security and unemployment taxes on their wages, collect and account for withholding taxes, possibly provide health insurance and pension benefits (particularly if you wish to provide these benefits to yourself), and keep track of all these taxes and benefits. To do this requires that you conquer a mountain of paperwork. When your workers are independent contractors, on the other hand, the cost of taxes and benefits, and the paperwork, disappear. You simply pay an independent contractor what you agreed to pay him. The rest of the problems are his. He’s responsible for his own social security and income taxes, and he must buy his own medical insurance and start his own pension plan. The IRS sees things differently. Since the IRS can collect social security taxes and withheld income taxes more easily from the business owner than from the worker, it tends to label every worker an employee. Hire the services of Thomas Hogan Law Office. Our Stockton tax attorneys can assist you differentiate between independent contractors and employees.
The IRS is empowered to conduct taxpayer audits whenever it elects to do so. An audit involves inspection of original documents supporting financial transactions and identifying transactions in which the IRS and the taxpayer have different interpretations of tax law. During an audit, and definitely at its conclusion, the agent will inform the taxpayer of errors discovered and the amounts, if any, believed owed to the IRS. The taxpayer can accept those conclusions, attempt to persuade the agent his conclusions are in error, negotiate a compromise, or appeal the decision to the IRS and eventually into the tax courts. If you receive an audit notice from the IRS, contact Thomas Hogan Law Office. The tax attorneys in our Stockton office can represent you in a tax audit.
The tax savings available through qualified retirement plans are not unlimited. In order to be qualified, a retirement plan must cap the amount of retirement benefits that can be set aside each year by the employer — often referred to as “limiting the accrual of benefits.” The important thing you need to understand is that these caps on plan contributions tend to reduce the amount of contributions that can be made for higher-income earners, that is, the owner of the business, not the lower-paid people who work for him. The limitations on accrual of benefits are different for different kinds of plans. Our Stockton tax attorneys have years of experience assisting businesses and individuals with tax savings.
STOCKTON LAWYER CONSULTATION
You can avail a consultation with our Stockton attorneys. Give us a call at (209) 266-0316 and we will schedule a consultation at your most convenient time.
What clients say for Thomas Hogan Law Office Stockton
By James H.:
“Need to file for bankruptcy due to business losses and lucky enough to find him.“
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I was in a difficult situation and needed a reputable and trustworthy lawyer to represent me in court against a government agency. I am glad I made an appointment to meet Tom Hogan in his office. The entire office staff is very courteous and professional. Tom Hogan is very likeable, he has a good sense of humor, and my anxiety went away after talking to him for a few minutes. He listened intently on what I had to say and gathered information by asking me several questions pertaining to my case. He has great attention to details. I was able to understand better my predicament after he explained the situation I am in so I decided on day 1 that he is the lawyer I am looking for. He showed up on all my court dates and stood for me against seemingly insurmountable odds. For those who are summoned to appear in court by the government, I guess you can relate… you are in between a hard place and a rock. His arguments turned around the case in my favor. The last court appearance went like a blur and I was still in disbelief as we are walking out of the court house. I asked him, what is going on? He responded ” We won. They are not going to bother you anymore.”Joe Stockton
Mr. Hogan took a personal interest in helping me with my legal issue. It was refreshing to find a lawyer that did not treat you like a number. He asked all the necessary questions so that he could properly represent me. He obviously has a lot of experience and it showed in how he handled my case. I would definitely recommend Mr. Hogan to any of my friends for legal assistance.Al M. Modesto
When I decided to get married he established my pre-nup. Since I had no idea how or what to put into it he was able to advise me on thing I would have never thought about. then 8 years later I needed a legal separation. Since the pre-nup was very detailed it made the legal separation quick and easy. Tom is very knowledgeable and is very understanding. I appreciate that he is tough when he needs to be but at the same time sensitive to the situation. He won’t just tell you what you want to hear but is honest and tell you how the law looks at things. I recommend Tom to anyone that needs a lawyer!Jeri E. Modesto
Mr. Hogan and his staff were a pleasure to work with. I consulted with them regarding a potential IRS tax issue. They answered all my questions gave me invaluable advise. I am sleeping much better at night since my stress has been diminished. Thank you Mr. Hogan.Evelyn M. Modesto
If you need an attorney with a keen understanding of financial matters, look no further than Tom Hogan. Mr. Hogan deserves the gold star for his accomplishments as an attorney and CPA. I never expected to ever find an attorney as competent, caring and driven as Mr. Hogan. As soon as Tom took on my case, he was determined to help me. He immediately plowed through the reams of documents pertaining to my case, financial and legal, and honed in on the critical pieces.Roberta C. Modesto
We care about our clients and are dedicated to addressing their legal issues to the best of our ability.Tom Hogan Founder