Once you have determined that you need to seek a professional to give you tax advises, the next thing that you can do is to approach either a tax attorney or an accountant. However, how do you determine which professional to consult with? Here are some of the things that you should know regarding tax attorneys and accountants.
Similarity. Both professionals will be able to provide you good tax advice as well as planning strategies that will help you with your demise. The U.S. Tax Court allows both professionals to represent you with your case.
Differences. Tax attorneys have more training when it comes to studying tax cases, legal writing, doing research while accountants are trained more on financial planning, tax regulations which can give them an edge when it comes to financial strategy.
Look into your needs. If you are looking for assistance on a simple tax preparation or just planning for a strategy on your business, then you can seek advice on a tax accountant. Moreover, an accountant can also be contacted if you are planning to create tax strategies for your business. Do not think the cost will be too high, you can lower the amount it will cost.
On the other hand, if you have more complicated questions which include tax issues on your organization, then you ought to communicate with a tax attorney instead. This is true especially if you find yourself in the position of responding to tax claims against you and your business.
Can’t decide? If you cannot decide then you can consider choosing either one of the professionals. The thing here is that there are accountants and lawyers who are now certified to practice either of the two fields. However, these professionals often charge higher rates.