When to Seek Legal Tax Advice

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Are you wondering who could help you with questions about taxes? Since taxes have both legal and financial elements, you have two choices.  You may have to seek advice from either a tax attorney or an accountant.  To know whom to contact, let’s look at what kind of help each professional could offer you.

Every case will be different.  In some situations, legal advice makes more sense. In other cases, you may consult either professional.  You’ll need to know under which category your case falls. That’ll give you an idea who to call for advice.  To help you decide, we’ve created a list of questions and issues that call for legal assistance.

Because tax attorneys are experts in all the legal aspects related to taxes, they know how to help you solve even the most complicated legal issue.  They understand how new developments in tax regulation can affect you and will guide you in making the best choices and avoiding further problems.  If you have a question about taxes that is also related to other legal issues, like wills or retirement, a tax lawyer will have the answer.

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Legal Tax Issues

If you have an issue or a question about taxes that seems legal in its nature, seek the advice of a tax attorney.  They are the most qualified professional to help you in these cases:

• Tax audits
• Tax collections 
• Tax evasion 
• Prosecution by the Canada Revenue Agency (CRA)
• Failure to file taxes

You should also contact a tax lawyer if you need a legal tax option or representation in a court case.  Tax attorneys are the only professionals that can help you in the Tax Courts of Canada.  They will assist you throughout the entire litigation process.

Tax Planning

Tax planning can be a messy business.  It’s like a witch’s potion: a dab of family matters, a pinch of legal contracts, and a grain of company management.  But you needn’t worry, because tax attorneys specialise in unravelling the mysteries of your financial and personal tax planning.  

Tax lawyers can lend you a hand when you want to sell some shares or when you need to change family or personal information for your taxes, as exemplified here: https://taxpage.com/articles-and-tips/proceeds-of-disposition/;  You should seek the valuable advice only legal professionals can offer when it comes to: 

• Managing an existing business
• Starting a business
• Taxable estates
• Agreement drafting
• Tax reorganization
• Wills
• Power of Attorney
• Personal directives
• Personal investments 
• Insurance
• Business succession and transitions
• Tax deductions
• Changes to personal or business circumstances
• Sale of business shares

Voluntary Disclosure Program

Do you have unprotected income or offshore assets?  Are seeking tax amnesty?  If your answer is ‘yes’, then you’re dealing with a complicated legal matter that blends tax and administrative law.  Once again, tax attorneys can best help you untangle such knotty issues.

COVID-19 Tax Considerations

The COVID-19 pandemic triggered emergency and recovery relief initiatives in Canada.  As a result, there are some tax-related issues you must keep in mind.   If you are unsure about how COVID-19 will affect you, you should contact a tax attorney.  Their offices will help you  with all of the following:

• Taxable COVID-19 benefits
• Capital gain or loss 
• Registered Retirement Savings Plan (RRSP)
• Student loans
• Charitable gifts
• Unclaimed medical expenses
• Disability benefits

Tax attorneys’ advice is priceless when it comes to legal tax issues, tax planning, the VDP, or COVID-19 tax questions. They will demystify even the most complicated tax question, help you in difficult times, and hold your hand during the entire process.