There are significant differences in the tax laws that apply to individual tax payers and corporations and as a result there are tax attorneys that work exclusively with companies and corporations, planning for and assessing their tax obligations. Business tax codes are extremely complex and the taxies levied against a business are very different than the taxes levied against an individual taxpayer. A corporate tax attorney in Atlanta can either work in-house or on demand, helping the company understand the tax implications of plans they are considering and ensuring that all filings meet the requirements mandated by the IRS or other tax agencies.
Corporate taxes can be significant, companies have obligations with the municipality in which they do business, state government and the federal government. If the company is involved with foreign commerce or has foreign sales it may also, mean filing tax returns offshore of the United States. In many cases corporate tax is computed by in-house accountants but a corporate tax attorney in Atlanta is called upon to help the corporation make decisions and restructurings that will save taxes.
A great deal of work done by a corporate tax attorney has to do with tax planning. Taxes are set out by laws, tax laws change frequently and it is extremely important that the tax attorney keeps up with all the changes and understands the implications as apply to their client. The attorney will advise the executives and the board on how to make the company more tax efficient. There are many ways that a company can qualify for lower tax rates; it is the tax attorney’s task to identify them, the attorney will also look for exemptions that become applicable as the laws change.
Taxes affect every business. A sports franchise is just as likely to need a tax attorney as will an internet service provider. A tax attorney in Atlanta knows the laws that apply and what exemptions can be taken to mitigate the tax obligation but still stay well within the law.
Large corporations usually have in-house tax attorneys; smaller businesses rarely have the resources for this so they rely on independent tax attorneys on an “as needed” basis. Small business tax planning and tax advising are extremely important and it is the independent tax attorney who provides these valuable services to his or her corporate clients.
Start-ups and long established businesses look to Jeffrey L. Cohen, Attorney at Law when they are in need of a tax attorney in Atlanta. Attorney Cohen can help businesses deal with the IRS and the Georgia Department of Revenue.
