What is Tax Planning and is it Legal?
Tax lawyers help taxpayers pay only what they owe, no more and no less. And, yes, tax planning is completely legal and commonplace.
- Tax attorneys focus on income, corporate, and business taxes.
- Estate planning attorneys focus on federal estate, inheritance, gift, and generation skipping taxes.
- Real estate transfer taxes are thrown into the mix as well.
Often the areas of tax law overlap and tax and estate planning attorneys collaborate with each other and with Certified Public Accountants (CPAs) and accountants.
To ensure you don’t fall prey to paying too much estate related and gift taxes, consult with a qualified estate planning attorney in your state as well.