* Dinar Daddy: Tax Attorney Information from eBook

All,

In my chat tonight over at Just4Dinar, I was asked to expound on visiting with Tax Attorneys, and why they’re important. I told them there I’d provide a sample of the information contained within my eBook for all of you regarding this particular subject. So, here it is… Enjoy. Pardon the number formatting here, for some reason it didn’t come across properly here when I pasted it in.

For the rest, you just may wish to purchase the eBook. Either way, I hope this helps you and I wish you all the very best!

CLICK HERE to read more about my eBook and the information I provide within its pages.

Go Dinar!

Dinar Daddy

Risk Assessment Program

The purpose of this section of Dinar Daddy’s Self-Sufficient Speculator is to provide you with real-life practical questions to ask the Attorneys, Financial Advisors, and Bankers you will be interviewing to handle your financial and familial protection needs. As most of you have never come into the kind of money you are expecting to obtain through the potential revaluation of the Iraqi Dinar, this section will be an invaluable resource to you as you go through the process of interviewing those people who will be instrumental in assisting in both protecting and growing your new-found assets. A section will be dedicated to each of the aforementioned business-types you will be partnering with moving forward.

Tax Attorney

As many have never had to illicit the services of an Attorney before, let alone a “tax attorney”, I feel it appropriate to introduce you to who they are and what they do.

Let’s start off with reviewing the general description/definition as explained by A Kaminsky for wiseGEEK.com:

Definition:

A tax attorney specializes in working with taxpayers to solve their problems with the IRS or state revenue department. In fact, they generally focus only on tax issues and relief. A tax attorney can help a taxpayer in trouble make it through an audit, have fines reduced, liens removed, and can navigate through the minefield of small business and self-employment tax issues.

Many small business owners consider their tax attorney to be as vital as their accountant. This is because a good tax attorney can help head off tax problems before they even begin. He or she can see potential trouble spots for a business and can advise the owner how to avoid them.

U.S. tax law is not only incredibly confusing; it also changes nearly every year. Thus, a good tax attorney will keep up with the latest changes and can advise clients accordingly. A tax attorney may also be helpful when setting up trust funds, stock portfolios and the like, so a taxpayer doesn’t run into unexpected surprises on April 15.

Recommended steps to take in choosing a tax attorney:

1. Finding a tax attorney: If you have contacts that have worked with a tax attorney in the past, ask them for feedback on their experiences and recommendations. However, your search for a tax attorney is not the time to go with a friend’s cousin or brother-in-law simply because they vouch for their relative’s character. The quality of your tax attorney can have significant bearing on how quickly your case is processed, how much money you save or recover, and how informed you will be. Even if a tax attorney comes highly recommended, be sure to thoroughly evaluate their qualifications and schedule a time to meet with them about your case before entering a contract.

1. Evaluating their qualifications: You’ll want to verify that your tax attorney is a member of your state’s bar association; or, if dealing with the IRS, that they are a member of the American Bar Association. You’ll also want to ask yourself these questions:

• • Do I prefer to go with a consultant who can provide highly individualized attention, or a law firm that may be able to pool the expertise of several tax specialists?

• • Should you be looking for someone who specializes and a particular aspect of tax law? Yes. Which aspect? Foreign currency transactions

• • Would a tax attorney with more of a generalist background better meet your needs (and possibly be more affordable)?

• • How long have they worked in tax law?

• • Have they worked with the IRS in the past? Do they hold certifications such as a CPA (Certified Public Accountant)?

• • Are they accredited by the Better Business Bureau?

1. Forming an agreement with your tax attorney: Your next step is to meet with your prospective tax attorney. You should interview at least three (3) before making a decision who to work with. Some tax attorneys will waive their initial consultation fees. Once you have selected a tax attorney, most states mandate that the tax attorney establish a contract with you for services that result in more than $1,000 in expenses. Make sure your contract addresses any and all fees you should anticipate. Potential fees might include an initial consultation fee, and the tax attorney’s hourly rate along with a clear estimate of how many hours you’re your needs will require. Certain services may only require a flat fee agreed upon at the time of retaining the attorney.

Other suggestions to consider in working with / choosing a tax attorney:

• • Don’t call the first one listed in the phone book, look around, ask friends, and your personal attorney (if you have one).

• • Ask the attorney for references. This is a very common question and you shouldn’t feel uncomfortable asking for some. They, if they are successful, qualified, and experienced with what they do, should have no problem providing them to you in a timely manner.

• • Ask for the attorney’s rates up-front. This will cut to the chase on your potential decision financially.

• • Discuss payment arrangements early on in the consultation process. This will allow you to quickly gauge how you feel about working with this person financially right from the beginning.

• • Do your own research. The more you know, the more you will be prepared with the questions you wish to ask of your potential tax counsel.

• • Your prospective attorney should have good communication skills. They will be the one communicating with you all along the process of providing you with what you need, and they will be representing you should you run into an issue in the future. You want the best and most professional representation possible should that time come.

• • You should be comfortable with this person. You need to be able to trust and get along with them. You don’t want to subject yourself to working with someone you don’t like.

• • She/he should be a good known negotiator. For the reasons mentioned above, you want the best representing you, always.

Critical Questions to Ask a Tax Attorney:

1. What is your experience as an attorney in tax law? More specifically, what is your experience with foreign currency transactions? This is obvious. The more they know about what your specific needs are, the more value they can add. Without specific knowledge in currency trade law, their experience will help them, as they probably know others who do have experience in this area, and they will become quick learners. So, default on experience without specific knowledge.

1. Do you like what you do? Why did you choose this field of law? Gaining answers to these questions will help you gauge just how passionate they are about what they do. The more committed they are to their work, the more involved they will be in ensuring you are taken care of. Don’t sell yourself short just because it’s uncomfortable interviewing them without giving them a definitive answer that you wish to hire them for their services.

1. Where did you go to school? University? This helps you discover something person about them. You are trying to find someone who is compatible with your style of communicating what you need. Anything you can find out about the person that is of common interest, or otherwise respectful to you, the better for the overall future partnership. Also, this allows you to verify they have the credentials to do so.

1. Have you ever worked for the IRS? This would be a huge bonus, as they would have a greater perspective about the inner workings of the machine that you are trying to both obey, as well as prevent from taking more of your money than need be. The specific experience you would be seeking for non-criminal issues (this situation would obviously apply) is experience in the IRS Office of Chief Counsel.

1. What is your level of education? They should, at a minimum, have a Masters of Law in Taxation. This is also named the LLM in taxation, and it shows that the person studied the tax law for at least one year.

1. Do you like what you do? I believe this goes without saying, the more they like what they do, the better they will serve you.

1. Are you a member of your State Bar Association? American Bar Association? Get them to say yes to both. If you don’t ask the question, then don’t expect them to offer it up.

1. What are your fees? How do you operate? (i.e. Retainer, pay-as-we-go, Up-front, etc.) It’s very important you have a clear understanding with how you will be working with them right from the start. Err on the side of caution in this area. Finances are always a slippery slope, especially if someone knows you have a lot of money. Coming to an agreement on fixed fees for specific services is always the best way to go, as they can be negotiated, and they are always tied to accountability for promised deliverables and services.

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