March 14, 2010
Taking Your Taxes To A Boston Tax Lawyer
When tax time rolls around and you are doing business in Massachusetts, you want to take your taxes to a Boston tax lawyer. He is an expert. He specializes in the business of business taxes in your area. He knows the ins and outs and how to fill in forms correctly for your business, so that it is not in jeopardy.
Some illegal goings on are happening in Massachusetts, so if you are a business owner, you should know about them and be able to protect your business from being accused of some of these shams.
Some of these activities that go on involve doing business to benefit from taxes, instead of earning a profit. This is a red flag for the Internal Revenue Service, and a business owner could face criminal charges. At the least, he will face civil penalties. One sample of this type of activity is claiming a false loss. These false claims are made for the tax motive is they are against the law.
While some businesses just need to adjust their taxes accordingly, and this is the way the IRS may handle some scams, other businesses are criminally charged.
There is a form used by the IRS called the “substance over form.” It is used to analyze transactions that are self-serving between, for example shareholders and the corporation. One example of this kind of sham is when the company sells some of its assets to shareholders. If a shareholder does not pay, it is written off as a loss. This is a criminal case.
Why not consult with your local Boston tax lawyer in these matters to protect your corporation? You will be happy you took that step.
When sorting through complex state or federal tax issues, your business will benefit by speaking to a qualified MA business tax attorney. A MA business tax lawyer can help guide down a successful path.
Filed under Attorneys by Jim Swanson







