Cosentino Snyder & Quinn

Tax relief is a legal method that the IRS and states have to help debtors reduce and pay off tax debt. There are many programs available for debtors, and tax attorneys can help choose the best option for you.

Don't think that estate planning is something for only older to people to do. Particularly if you have children, it's important to have a will and a plan in place should something happen to you and your spouse simulteneously and unexpectedly.

The Internal Revenue Service as we know it today came into being in 1862. The Commissioner of Internal Revenue, the original version of the IRS, had the power to collect and raise taxes and enforce the tax law through various means.

If you get all the way to the closing in a real estate transaction and a title defect shows up, then it’s time to contact your attorney. It’s critical that you get this resolved before you sign, as a lien, judgment, or other title issue can end up causing huge problems over the long term.

So what’s the difference between nonrecurring and recurring closing costs? Nonrecurring costs occur only once and usually include the appraisal fee, title insurance, and transfer taxes. Recurring costs involve the first in a series of payments, such as insurance and property taxes.

An article at Forbes.com notes that the US federal tax code contains 8 million words. At an average of 250 words per page, that translates into 32,000 pages of IRS rules and regulations governing tax policies and practices.

Even if you are experienced in writing contracts for real estate sales, it does not hurt to have an attorney review them before closing. Oversights or ambiguities in the contract will benefit the other party and work against you.

Have you ever been ready to close on your home purchase while the seller drags their feet to kill the deal? This may be a situation worthy of calling in legal help to settle.

One way to minimize the amount of taxes you may have to pay when you die is to make donations. An estate planning attorney can explain that there is a limit on a single yearly gift to a person or corporation.

Estate planning and elder law require a complementary approach. Elder law focuses on the individual and issues like Medicaid, nursing home placement, and end-of-life concerns, while estate planning addresses financial issues like wills, trusts, living wills, and more.

While your real estate agent may be an experienced industry professional, it’s always possible that a situation will arise that they simply can’t help with. When you need more involved assistance than your agent can provide, it’s time to turn to a real estate attorney.

So what are the benefits of designating an estate planning lawyer as the estate administrator? This can help eliminate any conflict following your death, as it can sometimes circumvent heirs from contesting the instructions of the will.

When you use your vehicle for business, that allows you to claim a deduction for the cost of the depreciation of the car. According to Kiplinger.com, this is an area the IRS closely scrutinizes, particularly when taxpayers try to claim they used a vehicle 100 percent of the time for business.