When you know you need a reliable professional tax advice, your next question is to find out and consider whether you should approach a lawyer or an accountant to help you. Well, both these have their merits and need to be contacted for different kinds of queries. Here are some factors which will help you in considering who you should consider:
Both accountants and tax lawyers are both able to help you with planning strategies as well as with providing tax advice. In fact, the tax court also allows for non-attorneys including accountants to represent their clients.
The tax attorneys though have to emphasize on case laws, as well as on research and legal writing. So, for litigations and appeals, as well as issues where liabilities are concerned, these are better. Accountants, on the other hand, are good for tax regulations, financial planning as well as for codes which help them in strategizing.
If there is just tax preparation which you want, you should consult a tax accountant. However, if it is strategizing which you require for starting a new business, then you will need to contact an attorney as he or she will help you with not only planning but also on preventative purposes.
If you feel that your questions are very complex and if there could be liability or litigation issues then you should seek out an attorney rather than an accountant.
If you want to be doubly sure as to the answers to your questions, you may consider hiring both. had belonged be more expensive, but it will give you peace of mind which you will not get in any other scenario. These are specially meant in case your case you feel is complicated or involves multiple parties or even if you are scared of possible outcomes.
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