Hiring a Family Law attorney for tax purposes
Do you want to save on taxes and make sure that any investigation from the taxman comes up clean?
Then it’s time to hire a family law attorney to take away the headache of taxes.
Structuring property and business interests
A prudent law attorney will advise on property purchase, business purchases and how to minimize tax for a family. Investment companies have their own interests at heart so you are unlikely to get impartial advice whereas the family law attorney will be aware of future implications for children’s education, wealth preservation or growing wealth and advise accordingly.They can advise on how to claim correctly for all business expenses and how to structure businesses to take advantage of tax incentives.
Take advantage of tax rebates and credits
A Whidbey Island family law attorney is up to date on relevant legislation to ensure you claim rebates and tax credits that are not widely advertised, like the calculation of income pursuant to Child Support or tax credits available to parents.
Avoiding unequal tax in case of divorce
In the case of a divorce a family law attorney will pay attention to the title when transferring assets to ensure parties do not get hit with tax ramifications and check that investment accounts holding securities, bonds and mutual funds will not be transferred in a way that results in unequal tax burdens on the parties involved – so neither party is unfairly disadvantaged by taxes in the event of a divorce.
Alleviating tax burdens
They can advise on implications for capital gains tax on kiddie investments among a host of other things like offshore accounts, trust funds and other means to avoid unnecessary taxes and ensure wealth preservation for your family.
And if tax is a problem you have been avoiding, then a family law attorney will also negotiate on your behalf with the tax authorities to help resolve tax levies, liens, back taxes and debt relief.