Business Tax Lawyer Danbury, CT

A Danbury, CT business tax lawyer knows that taxes are often confusing for people who have never done them or do not understand tax law. This is especially true when filing taxes for your business. If you or a loved one owns their own business, you need to reach out to an experienced business tax lawyer in Danbury, Connecticut, like someone from Barlow Tax Solutions, right away to begin helping you with all of your tax needs. Not only can this help you from getting in trouble in the first place, but having a business tax lawyer on your side also makes things much simpler if you do run into any issues. If you already have a lawyer on your side, he or she will know the ins and outs of your business and how to proceed with haste. There are many reasons that could come up as to why you may need a business tax lawyer. Continue reading to find out some of the most common reasons people hire business tax lawyers. 

Your Company Was Audited

A business tax lawyer can be useful if your company gets a tax audit. Your lawyer will look into the details of what happened and why your business got audited in the first place, then will determine how to fix everything and move forward so that this does not happen again. A business tax lawyer’s job is to save you and your company money, which can happen if taxes are filed correctly, on time, and corrected with haste. 

Filing for Bankruptcy

Another reason a company may need to enlist the services of a business tax lawyer is if the business needs to file for bankruptcy. This is not a matter to be taken lightly, so it is crucial to speak with a business tax lawyer before doing so to determine if this is the right course of action. An experienced lawyer from Barlow Tax Solutions will be happy to evaluate the situation to see whether or not this is the wisest decision for your circumstances. We will be honest and upfront with you, and be able to answer any questions you may have during this confusing time. 

Creating a New Business

Finally, it is important to have a business tax lawyer on your side when creating a new company. Not only will this give you a head start by getting a lawyer on your side from the very beginning, but it will also be much easier if any problems do come about for your lawyer to get involved quickly, as he or she is already in the know about your finances. 

How can a business tax lawyer help you? 

Whether you have just started your business or already have it up and running, working with a business tax lawyer might be precisely what you need to make sure your business can thrive. When it comes to taxes, there is no room for error and if you are not tax-savvy (or comfortable with numbers), you may find that this is the right time to begin working with a lawyer from our office. If you have mistakes in your taxes and get audited, bad things can happen even to those who made these mistakes in error. Call Barlow Tax Solutions now to see how we can help you. 

What will a tax lawyer do for me?

This is a great question. Especially when you are just getting your business started, you may be wondering if a tax lawyer is going to be a necessary expense. After all, if money is tight, do you really need to bring someone in? The truth is, a tax lawyer can not only help you fix errors that have already been created but they can help you avoid these errors completely. A tax lawyer can:

  • Save you time. Yes, it’s true. Working with a lawyer should save you time, not further delay things. This is not the time to roll up your sleeves and try to learn a new trade while taking care of your business. Instead, a tax lawyer will know how to get started and what needs to be done. They will know what deadlines there are and when to get things filed. 
  • Help with your tax year. Many people do not realize that when they have a business they will also have a certain tax year. It is possible that the government will establish the year but you may also be able to set your own tax year. With this, you must comply with the different requirements set forth by that tax year. 
  • Help you understand your income. When you own your own business, there will be many different types of income listed and many ways that you can get income. Your lawyer can help you understand the types of income you have and how to appropriately report it to avoid getting audited or to avoid facing penalties.
  • Help with state taxes. When it comes to doing business outside of your state, a lawyer will understand what your tax obligations are regarding doing business in and out of your state. This can be an especially confusing area of taxes and having a Danbury, Connecticut business tax lawyer by your side can be incredibly helpful. 
  • Help find business deductions. Many people understand that starting and maintaining a business can be incredibly difficult in the first few years. There are many deduction incentives for businesses and your lawyer can help you find these deductions to help mitigate some of the costs you will face. 

Business and Tax Insight From Our Team

Laws govern how a business runs, from tax laws to workplace safety, contracts, and more. Those who are new to running their own business are advised to have a lawyer to turn to for questions and guidance. Especially when starting off your business fresh and new, you’ll want to create a foundation that is strong and can carry you into a successful future. If you are seeking business or tax legal advice, here are some of the things that you need to know:

The fundamental premise of every contract is that there will be an agreement between all parties involved. Every person should have an understanding of the contract terms and only agree to them if there are no confusions. Issues arise all too often when the interpretation of a contract is not the same for all parties around, so it will be imperative that the contract is written clearly. While many people do verbal and handshake agreements, it’s best to have it written down on a signed document so you can refer to it later on if needed. Well-intentioned parties may agree to an exchange initially, but then realize they weren’t on the same page after all.

Without a trademark, copyright, or patent, there will be barely any recourse if another company decides to copy or steal your business name, logo, or branding. Our team can discuss with you what you need to know about protecting your intellectual property, branding, tax considerations, and more. Protecting your business from the beginning will be easier than filing a dispute against another company for unfair intellectual property usage after it has already happened.

Many people are concerned about how their information and data is kept and shared. For this reason, we advise creating a system for how you will keep your client’s data, demographic information, and other details protected. Examples of data would be your client’s name, home address, email, and other sensitive identifiers. Some companies may sell this information to other companies, so if your company will be doing the same, then you have to formally inform your customers of this fact through providing a clear privacy policy.

At Barlow Tax Solutions, we provide assistance for a myriad of issues related to business and tax law. We are a leading tax relief company that can address your business and debt needs. Clients frequently seek our help if they receive an IRS notice about payroll tax issues, tax audits, unfiled taxes, back taxes, and other debts. When building your company, it will be important to the success of your business to cover all of your bases now. When issues come up, we want to make sure that you can keep your business and thrive at the same time. 

Contact Us Today

Do not hesitate. Contact Barlow Tax Solutions today to set up an appointment with one of our experienced business tax lawyers. We can answer any questions about what you have and speak with you further to see how one of our lawyers may be of assistance to you and your business. The sooner you retain legal assistance, the faster you will be able to feel comfortable knowing that your business will be protected. Reach out to Barlow Tax Solutions to speak with our business tax lawyer in Danbury, Connecticut now.