The Three Reasons to Use Law Firms for Your Business Taxes

There are a lot of questions people have when they are thinking about how to select a law firm in Bend Oregon. One of the most common questions is, “why do we need a law firm?” The reason for this is because the Oregon Corporation Commission (OCC) regulates business in the state of Oregon. If you are planning on starting a business then you will need to register your business with the commission. Once you are registered then you can run your business as you wish, but you will need to pay a fee every year to the state of Oregon in order to operate a business.

After you pay the annual fee, you will receive a certificate from the state of Oregon that states that you are registered and that you are allowed to trade in the state of Oregon. When you are starting up a business then you want to have a tax attorney in Bend Oregon help you with setting up your corporation and paying the required tax payments. Not having a law firm on your side can result in fines, court costs, and even huge losses to your business.

You also have to understand that hiring a law firm can actually save you money. Most people don’t realize that the cost of having a tax attorney in Bend Oregon on your team can actually lower your tax bill by quite a bit. That’s because a tax attorney in Bend Oregon can get many deductions on your taxes. For instance, if your business has five employees then you could be able to deduct fifty per cent of your income. The beauty of paying a law firm is that because you are working with an attorney that specializes in the field of business lawyer Bend Oregon they can advise you on all the deductions you can get.

Not only can an attorney help you with the law firm tax matters, but they can also help you with everything else related to running a business. That includes things like hiring employees. A tax attorney in Bend can tell you what deductions you can qualify for based on your income level. They can also tell you what type of employee are you eligible for. Basically, they can be your business manager, accountant, and even a lawyer all in one.

Using a tax attorney in Bend will save you a lot of time. While you might think that you know what tax laws apply to your business you might not be aware of some of the basics. This is where an experienced attorney can help you.

Using a law firm also helps you build relationships. Not only do you have to be familiar with the laws but you have to develop relationships with local, state, and federal tax authorities. This is something that just about anyone who owns a business must do. It is necessary to comply with all of the tax laws. If you don’t then the government can come in and place heavy fines on you or they can revoke your tax-exempt status.

Law firms have the advantage over other businesses in that they are already familiar with how the government thinks. As a result, they know what questions to ask and how to deal with officials. Another aspect to consider in this instance is what will happen when the unthinkable happens, and you pass away. In this case, you should plan for your departure by speaking with an estate planning attorney Bend Oregon. Additionally, they have inside knowledge because they deal with tax issues on a daily basis, so they tend to be in the best position to give good legal advice to their clients.

You have probably thought of why use law firms before you heard all of the reasons that it makes sense to use them. If you aren’t sure what is in store for you, now is the time to start thinking about it. There are tax benefits that you won’t want to miss out on. Start looking for an attorney today so that you can get your tax situation handled right.