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How Property Lawyers Can Help With Your Tax Issues

How Property Lawyers Can Help With Your Tax Issues

There appears to be a mistaken notion (especially among small business owners) that when it comes to taxes, an accountant or tax accountant is the only professional to resort to solutions. No doubt, tax accountants have a significant role to play as it concerns tax preparation on the one hand. Still, the relevance of a tax lawyer to any business cannot be undermined.

However, your choice of legal professionals is determined by several factors, like the stage of your case with the revenue service (if any) or your unique goals and needs.

Who Qualifies As A Tax Lawyer?

A tax lawyer or attorney must be called to the Bar and is therefore licensed to practice law within property law. However, they may opt to narrow their interest on the subject of taxes by either acquiring hands-on legal experience, obtaining a further degree in taxes or both.

That applies in other countries as well. Tax is a product of law. Hence a tax lawyer primarily focuses on the legal issues associated with taxes.

Related: Everything You Need To Learn About Property Lawyers

How Does A Property Lawyer Help With My Taxes?

1. Tax advice

A property lawyer specializing in tax-related matters advises individuals, businesses, and government agencies on taxes, tax laws, disputes, and account matters. Every property lawyer stays up to date with internal revenue service regulations and tax laws to be able to advise a client in a time of need. They help you avoid possible penalties and unnecessary interest. Also, a property lawyer helps you with legal strategies to stay below the tax exemption threshold and avoid a significant amount of your money going to the respective revenue service.

When advising a client, the prayer lawyer deciphers what his client needs from what they say and then articulates suggestions that achieve reasonable goals.

When starting a business, a tax lawyer will notify their client to contact the company they are planning to begin to pose a risk of incurring many tax expenses. The property lawyer will proffer advice on structuring transactions in a way that provides an advantage regarding tax. In buying or selling a business, a property lawyer advises a business owner on capital gains and depreciation to minimize tax liability.

2. Negotiation

Should your business be found liable for failure to pay or remit back taxes or penalties (i.e. taxes due to be paid within a stipulated time), the property lawyer would assist you with negotiations with the respective revenue authorities.

Suppose the revenue authorities have placed your properties and bank accounts on a lien. In that case, a property lawyer will assist in undoing it through negotiations in some cases.

The outcome of such negotiations may entail a taxpayer (who is in default) paying the debt owed in instalments or such taxpayer paying less than the amount stipulated.

3. Business consulting

Starting up a new business always comes with tax responsibility. If you are not keen, these taxes may add up and become a severe issue. In addition, the category of business you opt to register has tax implications for your business. Consulting a tax lawyer would assist you in planning a sure way to avoid such problems as well as help you with outlining a suitable tax structure for your company

Laws create taxes, and it has to be professionally understood, especially their legal aspect, to avoid the untimely winding up of a company. Therefore, tax lawyers ensure they are up to speed on current tax legislation that could influence your business strategy. As such, lawyers are in a better position to combine all aspects of their studies, such as business law, property law, corporate law, insurance law e.t.c to come up with the most beneficial way a business enterprise can handle its taxes.

4. Tax Investigating Services

Have revenue officials harassed you to pay levies or obtain permits you don’t know? A property lawyer would assist you in verifying the legitimacy or otherwise of such levies.

5. Estate Planning

Estate planning involves anticipating and making arrangements for managing and distributing a person’s estate during a person’s lifetime in the event of death or such a person becomes incapacitated.

The process of estate planning requires the need for tax considerations. Suppose you’re considering creating an estate plan from your assets. In that case, a property lawyer will assist you in avoiding a large part of your assets being remitted as taxes to the Government, amongst other things.

6. Tax Audits with Revenue Authorities

Although the preparation of audit statements is the exclusive purview of tax accountants, tax lawyers have a role to play in the audit process, such as; aiding clients in preparing for audits, meeting with revenue officials and representing clients when needed.

Auditing does not necessarily mean the client has defaulted or done something wrong; it simply means the revenue authorities want to take a closer look, and a tax lawyer can help navigate the process.

7. Legal representation

Property Lawyers represent their client’s interests in court and with revenue authorities. In the case of tax crimes, they can organize and oversee the structuring of settlements with the tax authorities.  Should you be involved in a tax controversy which has been assigned to a revenue officer or a revenue court, or a tax tribunal, or you wish to institute legal action or a tax appeal against the revenue authorities, it is highly recommended that you are represented by someone who has good knowledge on tax law and in addition knows their way around the courts.

In Conclusion

Both tax accountants and lawyers assist with tax planning, financial decisions and minimizing tax liabilities; however, a tax accountant helps with the financial aspects of the process, while a property lawyer assists with the legal aspects of taxes in the face of possible problems. Although a property lawyer can help you in the event of tax controversy, it’s best to prevent issues in advance by consulting with one in the first place.

Everything You Need To Learn About Property Lawyers

Everything You Need To Learn About Property Lawyers

Buying a home is probably the most significant investment you will ever make. In addition to involving the expertise of a real estate agent to help negotiate the transaction, you might consider a property lawyer to guide you through the legal process. Property lawyers specialize in property-related matters, from transactions to disputes between parties.

Many states require a property lawyer to be present at closing. Even if your location doesn’t need one, you might want a property lawyer to help you fix everything for you. A property lawyer will also represent your interests at closing. They will review all paperwork in advance and advise on any problems or omissions with the documentation.

Most property lawyers charge an hourly fee for services, although some charge a flat rate. The property lawyer will tell you upfront.

Property Lawyers who specialize in real estate ensure that proper procedures are followed during the acquisition or sale of the property. They are also concerned with how a property is used. Real estate law covers every deed, estate planning, property taxes, zoning, and title.

Real estate laws vary from one state and local government to another. Lawyers need a license to practice in the region where the transaction is taking place and must stay well-informed about regional developments that could impact a transaction.

This blog post provides complete information on the specific responsibilities of a property lawyer to help you learn what they do. It highlights the critical tasks, duties, and responsibilities that commonly make up most companies’ real estate lawyer work descriptions.

It can also present the requirements you expect to fulfil to be hired for the property lawyer role.

What Does a Property Lawyer Do?

A real estate lawyer is primarily responsible for preparing and reviewing documents, negotiating terms and conditions, and processing the transfer of titles. Their job description involves helping clients with legal issues related to residential and commercial real estate, tenants and neighbors, commercial leasing, and private property ownership.

The real estate lawyer is responsible for the legal concerns of real estate matters such as property purchases, land developments, and asset transfers. They meet with clients to ensure documentation is well aligned with the region’s current property laws and regulations.

Property lawyers offer legal advice on zoning violations, property management, property taxes, restrictions and agreements on real estate, and value estimates. They handle real estate disputes like trespassing and injuries and infringement, define boundaries and work towards resolving every conflict. Property lawyers also stand for their clients in court, participate in trials and hearings, file appeals, and draft documents and legal pleadings.

They bargain and negotiate on clients’ behalf and help them reach settlement agreements.

They also help clients to deal with the legal aspect of rental property and defend the rights of owners, landlords, renters, and tenants.

Suppose you are seeking to work as a real estate lawyer. In that case, employers/recruiters may want you to meet requirements that include a broad business law foundation, analytical and verbal or written communication skills, and strong negotiating skills. Others are time management skills, organizational skills to handle multiple cases and documents, remarkable decision-making skills, interpersonal skills and excellent problem-solving skills.

Property Lawyer Educational Qualifications

You must show proof of academic certifications to be hired for the property lawyer role. A property lawyer needs to obtain a Jurisdiction Doctorate Degree from an accredited school by the country’s Bar Association. They must also hold an attorney’s license by passing the bar exam.

They can attend a law school, but applying for internships with different law firms will help them gain the work experience necessary to land one’s job of choice.

Continuing education may be required every three years in some regions, but that is after graduation: property lawyer Salary Information and Employment Outlook. The pay is increased when working for a large firm or becoming a partner but declines in an economic recession.

The job description example below shows the significant tasks, duties, and responsibilities typically performed by property lawyers:

  • Monitoring legal risks in real estate documentation and giving the right advice to clients
  • Representing the clients in the sales and purchases of properties
  • Managing regulatory and compliance-related services
  • Defending municipal code litigation
  • Ensuring that approvals are well prepared before real estate transactions are done 
  • Drafting leases and amendments, as well as negotiating real estate transactions
  • Supporting general and legal advisory needs associated with a real estate portfolio
  • Interpreting rulings and regulations for real estate transactions


Property Lawyer Requirements – Skills, Knowledge, and Abilities for Career Success

Suppose you are seeking a real estate lawyer job. In that case, most recruiters/employers may want you to meet the following requirements to be hired:

  • Knowledge of legal terms and ability to work long hours
  • High negotiation skills are required to assist in situations where clients are displeased
  • Being an analytical thinker who can work through legal issues and provide solutions
  • Excellent written and verbal communication skills to effectively and accurately communicate ideas and propositions to clients, judges, and other legal professionals
  • Acting with good character, competence, and sound judgments when dealing with client matters
  • A high degree of organizational and self-motivational skill
  • Networking skills and collaboration ability
  • Solid experience in title insurance underwriting, curative, and claims
  • A natural leader who displays sound judgment and attention to details
  • Strong working knowledge of litigation, lease transactions, and property management
  • Solid experience in insurance underwriting
  • Ability to work under pressure and meet tight deadlines
  • Working knowledge of computer technology and Microsoft Office programs
  • Extensive legal background and business acumen
  • Financial expertise and specific real estate knowledge
  • Skilled investigative researcher and the ability to analyze located information
  • Comfortable with conflict resolution and a good understanding of foreclosure
  • Familiar with legal terminology and the ability to work long hours.

In Conclusion

Hiring a property lawyer is a sure way to protect yourself during legal proceedings. Suppose you want to go and settle a dispute in court, purchase or sell a property, or want help in foreclosure proceedings. In that case, a property lawyer is your best bet. Hiring a property lawyer today can save you money now and in the future.

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