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LRS Rules and Regulations

http://austinlrs.com/wp-content/uploads/2018/01/LRSCT-Rules-11.22.2017.pdf

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Understanding the Roles and Responsibilities of a Personal Injury Lawyer

Personal injury lawyers provide legal counsel and representation in cases where a plaintiff sustains an injury, physical or mental, due to the careless act or negligence of another person or entity. The injury can be due to a vehicular accident or else injury suffered in offices in the course of one’s duty. The job of a personal injury attorney is to furnish answers to his client’s queries, deal with the insurance company, represent the plaintiff in a court of law, and recover compensation for losses suffered.

Preparation of Case

A trained and licensed personal injury lawyer generally handles cases such as automobile accidents, workplace injuries, slip and fall, and medical negligence. In preparation for a case against the defendant, a personal injury attorney will assess the nature of the injury sustained by his client to obtain a fair compensation. For this, the attorney will investigate the accident in question, take photographs of the accident scene, interview witnesses, communicate with the insurance company, review medical records, and negotiate a settlement or file a lawsuit to prepare for a litigation to bring the case to a proper conclusion.

Confidentiality & Legal Allegiance

It is the duty of personal injury lawyers to protect the confidentiality of their clients and owe allegiance to the latter during the course of exercising their legal duties. This is so because these lawyers take upon themselves to safeguard the best interests of their clients in any circumstances. These legal experts are required to abide by strict codes of ethics once they take up a personal injury case.

Ensuring Fair Compensation

Under the law of negligence or tort in the United States, a person responsible for causing a physical or psychological injury to another is legally bound to provide adequate compensation to the injured. It is the responsibility of a personal injury attorney to make sure that that duty is carried out by the erring party in accordance with the law. Thus, in every personal injury case, the attorney ensures that there is a fair settlement of the case and the plaintiff is fairly compensated. A part of this duty is to see to it that the insurance company pays out the full insurance claims and doesn’t deny or underplay the extent of injury or damage sustained by a contesting party.

Legal Resources in Texas

Austin Lawyer Referral Service of Central Texas is a not-for-profit and trusted source of legal resources including personal injury lawyers. You can now seek the services of bar-certified attorneys by just giving the firm a call or dropping a mail. Finding a lawyer who can address your legal problems is never this easy and convenient. For any expert legal assistance in Texas, call (512) 472-8303, mail at referrals@austinlrs.org, or submit an online request through the contact form. An Austin LRS representative will get in touch with you soon. Fight for what’s rightfully your’s.

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Businesses pay Attention! A List of Criminal tax Evasion Practices

Let’s admit it, most of us are not fond of paying taxes. Many businesses make a hue and cry about high taxation rates, often discounting the important role that funds collected by the federal government play in infrastructure development. Many modern corporations with the help of tax attorneys in Texas and other parts of the country (wherever they have operations) often adopt legal tax avoidance strategies to shrug-off their excessive tax burden. Many businesses, however, in the zeal to manage their taxation burden cross the thin line between tax avoidance and tax evasion (which is criminal). If you own a business or are at the helms of affairs at an MNC, you must know some common illegal tax evasion practices. To help, the post lists some such criminal practices. Take a look.

1. Maintaining two Sets of Books 

To undervalue their earnings, many businesses deliberately maintain two sets of accounts and make false entries to lessen their tax burden. When it comes to enforcing the taxation code, the IRS is relentless and may slap these businesses with a fine or even take legal actions against the management, if they are found guilty of engaging in accounting irregularities such as a discrepancy in the amount reported in the business’s records and its returns or the team’s failure to maintain proper records.

2. Misreporting Assets

IRS authorities scrutinize every business transaction closely and have the authority to take actions against businesses trying to hide or transferring assets or income; a fact that many corporations learn the hard way. In its simplest form, misreporting assets can involve concealing funds in a single bank account. As a part of their efforts to lower their tax liabilities, some big organizations allocate earnings among their management team members. For example, some businesses transfer funds to the bank accounts of kids (who usually fall in a lower tax bracket and have a lesser tax liability) of the controlling shareholders.

3. Claiming Overstated Deductions on Returns

The IRS has an eye for overstated deductions on returns and will raise a red flag the moment it detects any efforts to claim more deductions than allowed by the law. Some typical examples of overstated deductions are: claiming unsubstantiated donations to charities, amount paid by the business owner to their children or spouse for work they did not actually perform and overstating travel expenditures. 

4. Reporting Sham Transactions

Sham transactions involve labeling a transaction as something it is not. A classic example is reporting dividend payments by a business to its shareholders as interest payments. Any attempts to disguise payments will not help the business earn deductions as it is the form of the transaction that determines its taxability.   Conclusion Tax collection agencies all over the world have a wide range of powers, and the IRS is no exception to this rule. To avoid getting into the bad books of the body, avoid these practices. It is also advisable that you hire a commercial property tax lawyer who can help you file taxes correctly and understands different types of complex tax issues.

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Lawyer Referral Service of Central Texas - Clients Feedback Checkout what clients say for us - Check more: http://austinlrs.com/practice-areas/

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http://austinlrs.com/wp-content/uploads/2016/11/LRSCT-Rules-11.01.2016.pdf

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If you are not sure if you need a lawyer or if you cannot afford one, you may want to attend the free #legalclinics held twice a week in Austin. The legal clinic sponsored by Rio Grande #LegalAide and Volunteer Legal Services. It is staffed with #lawyervolunteers who can provide advice or offer their services if you qualify for Legal Aid.

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Decoding Corporate Tax Reforms

Corporate income taxes are levied in 44 states in the U.S. With the new presidential administration, strictness for corporate tax reforms is quite visible with several changes and reforms incorporated this fiscal year. From deadline changes to non-profit tax exemptions, several other important reforms and changes have been implemented in year 2017. If you are a corporate person, it is important to know about such tax reforms and changes as they will directly affect your corporation's balance sheet. 

Moreover, failure to comply with tax reforms may lead to legal issues for which you would require the assistance of a business litigation attorney. 

Continuing the discussion, we have highlighted some of the key changes made to corporate law.

Deadline Changes

For businesses such as C-corporations, S-corporations and partnerships, the deadline for filing has been extended from up March 15 to April 15 this year. In case, you fail to abide by the March 15 deadline this year, you must apply for an extension from the IRS. Even when granted an extension on filing taxes, you need to pay what you owe to the government.

Deductions and Credits

If you are a small business owner and purchase new or used equipment for business use, you are eligible for deduction up to $500,000 on your returns. Hiring military veterans who have not been working for the last 27 months also helps you claim the Work Opportunity Tax Credit. This tax credit gives 40 percent of the first $6000 that are paid in wages.

Social Security Taxes

The Social Security Administration, responsible for social security taxes has raised the ceiling on the taxable income. The income will now be subject to the 7.65 percent for Social Security and Medicare. The limit for independent contractors' taxable income has also been raised from $118,500 to $127,200. Even, self-employed individuals need to pay 15.3 percent on the first $127,200 they earn.

Nonprofit Tax Exemptions

Specific non-profit bodies and entities registered in Texas are exempt from paying some or all of their federal income taxes. Certified Texas 501(c) nonprofit corporations need not pay the Texas corporate income tax. Some of the common 501(c) entities include:

-- Educational & Scientific Institutions

-- Tax-Exempt Recreational Organizations

-- Tax-Exempt Charities

-- Labor Unions

-- Tax-Exempt Religious Institutions

Other Notable Changes

Corporate tax has been reduced in several states including Arizona where corporate income tax rate has been reduced from 5.5 to 4.9 percent. New Mexico has reduced its corporate income tax rate from 6.6 to 6.2 percent. Another example is the District of Columbia which has reduced corporate income tax rate from 9.2 to 9 percent.

Wrapping Up

The change of leadership at the Oval Office has helped implementation of several corporate tax reforms which you should be aware of. These changes and reforms will affect your corporation’s earnings. If you are, in any way, unsure of what deductions you can claim or how you need to prepare your returns keeping this year's new corporate tax changes, you can rely on the advice and guidance of a Business Attorney in Austin, Tx. If you have any other concerns or issues lying unresolved about your corporate tax, hiring a business litigation lawyer can help.

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If you are not sure if you need a #lawyer or if you cannot afford one, you may want to attend the free #legalclinics held twice a week in Austin. The legal clinic sponsored by Rio Grande #LegalAide and Volunteer #LegalServices. It is staffed with lawyer volunteers who can provide advice or offer their services if you qualify for #LegalAid.

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Understanding the Types of Deceptive Trade Practices in Texas

Federal government together with state governments share the responsibility of framing a set of regulations known as consumer law in the US. These statutes ensure a fair trade between buyers and sellers. The consumer laws are outlined to check false advertisements, misrepresentation of goods sold, ensure products are safe for consumption, regulate unfair debt collection practices, and protect consumers’ identity. Every state has its own comprehensive consumer laws to address malafide/dishonest trade practices.

Continuing the discussion, this blog post highlights common deceptive trade practices.

Bait and Switch

Seller use the bait and switch method to lure customers into their store by advertising an exceptionally priced item, and then turn their attention to a similar item that is a better deal for the seller. Many seller advertise items that they do not even have in their store.

Deceptive Pricing

Deceptive pricing is one of the most preferred method adopted by sellers to attract customers. Retailers often mark up the regular price of the item to make customers believe that they are getting a worthy deal. In Texas, however, the Uniform Deceptive Trade Practices Act does not allows retailers to list the regular priced items with a sale tag if they do not sell an item at regular price.

Misrepresentation of Goods Sold

Companies often use false advertising to improve their sales. It involves false statements about competitor's product to show it in a bad light or present their product in positive light. Stating that a vehicle has better gas mileage than it has, for instance, is a way of misrepresenting the goods being sold. Since false advertising is illegal in Texas, you can consult a consumer lawyer to sue the seller for illegal practice.

Low Stock Scams

A lot of times, sellers advertise a low stock item for low price to generate interest among potential buyers. It is a tactical move as the advertisement continues to run even after the stock is sold out, and the customers continue coming at the store, which increases the probability of sale of some other product. In Texas, the retailers have to include the number of items in stock in the advertisement to avoid getting penalised for the form of deceptive trade practice.

Odometer Tampering

Texas vehicle code strictly prohibits odometer tampering. If the car requires odometer replacement, then the car seller needs to disclose the previous odometer reading to the buyer. The seller also has an option of replacing the faulty odometer with another one with the same or greater mileage. The Way Forward Consumer law is designed to protect consumer’s interest from dishonest tactics of sellers. A seller found violating the deceptive trade practice laws can be penalised for actual and treble damages. If you sense a seller is using any deceptive trade practice, such as misrepresentation of good sold or unfair debt collection, you can seek legal assistance of consumer lawyer in Austin and any other place to sue the seller.

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Top 4 Measures to Availing the Right Lawyer Referral Services

The process of availing the right legal help can be taxing, both in terms of time and money. What makes the process even more challenging is the lack of understanding of the legal system and how it functions. That’s when lawyer referral services in Austin and elsewhere come into action. Such referral services providers are committed to helping individuals who need legal  representation by connecting them with qualified and experienced attorneys in the Austin, Texas and elsewhere. As during your hunting you may come across many lawyer referral services in your area, here are a few guidelines on how to choose the best lawyer referral in Austin, TX or elsewhere.

1. Evaluate the Fees Charged by Each Service Provider

Most referral services are a not-for profit organizations with an aim to make justice accessible and affordable for those with legal issues. The best referral services will charge a minimal fee (in most cases $20 per 30 minutes). These organizations use the fees to meet their operational expenses. When working with a not-for-profit lawyer referral services you don’t pay anything  other than the minimal fee, not even the fee for hiring a lawyer.

2. Look for Certified Providers  

Lawyer referral services provider you choose should be certified by the State Bar and approved by the American Bar Association. You can call your local State bar council to enquire whether your preferred provider features in their list. Certified providers in most cases offer bonafide legal assistance with their attorneys registered with the local bar council. In addition, make sure the attorney assigned for your particular case carries a malpractice insurance.  

3. Get an Overview of the Process

Ask your provider for the detailed process they are going to undertake, to decide whether to avail their services. Scan the provider’s site or call their office to get all the information you need. Established lawyer referral service providers employ an in-house team of professionals who ask questions about your legal issues to determine how best to assist you. The staff member will gather your personal information, such as contact details. Next, the team will scan their database to find an attorney based on the area of law in which you need assistance, the location you prefer, and the language you speak.

4. Enquire About the Volunteer Programs the Provider Manages

Availing lawyer referral services at subsidized rates is an effective way to avoid huge cost of hiring legal assistance. Most such organizations manage volunteer programs centered around helping individuals get solutions to minor legal issues, free of cost. Many providers invite local attorneys to volunteer in their public programs. Others encourage lawyers to participate in programs that aim at spreading awareness among local communities about some common laws. Some referral service providers also manage reduced fee programs for veterans and qualified referrals. Evaluating the scope of these programs will help you choose the right services provider who is working in public interest and not for making profits.

Conclusion   

Most lawyer referral services in Austin and elsewhere are a not-for-profit organizations that offer free consultation on Personal Injury, Workers’ Compensation, and Social Security Disability. Availing such services ensure that you get the right legal help on time. Lastly, if not anything else, make sure the referral services provider you choose is certified by the State Bar to carry out such service.

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Is Your Personal Injury Settlement Liable for a Tax Deduction?

In most cases of accidents, none of the parties involved like to take their claims settlement disputes to the court. Reason being a substantial amount of money is required to cover the expenses. Parties involved, therefore, look for a settlement outside the court. Hiring a personal injury lawyer helps you segregate punitive damages from compensatory ones, and also receive tax deductions that would otherwise be levied on the entire amount. If all the parties involved reach a settlement, the personal injury lawyer handling the case finalizes the documentation and close the settlement. That said, many people do not know that the settlement amount may be subjected to a tax deduction, depending upon the type of injury sustained. Continuing the discussion further, let us take a look at various types of claims and possible tax deductions applicable to personal injury settlement amounts.

Types of Personal Injury Claims

Physical Injury Claims

Property settlements during personal injury case are not taxable. According to the IRS, if the loss in a property’s value is lesser than its adjusted basis, then the compensation received is not taxable. Your personal lawyer, however, will enlighten you to depreciate your basis in the property, by the same amount as the settlement (if you wish to amortize the property for tax purposes). If  the settlement amount exceeds the adjusted basis in your property, the excess is deemed as income, and is taxable.

Medical Expenses and Pain Claims

Both federal and state laws state that you don’t have to pay anything to tax authorities out of a injury claim. In most cases, no tax deduction is levied on the compensations received, either through the courts or arbitration. Personal injury claims for lost wages, medical bills, personal lawyer fees, and pain due to injuries (bruises, broken bones, cuts, and amputations) are non-taxable. Punitive damages, however, incur tax deductions. The interest received on injury compensation claims is also taxable. This is, however, applicable only in the situations where the respondent is not able to pay the compensation to the plaintiff within the stipulated time period.

Property Damage Claims

In most cases, medical bills and pain suffered make up the major portion of a personal injury claim. If you have made a medical expense deduction claim for costs incurred, that would be reimbursed later on through a settlement or verdict, the IRS requires that you account for the amount deducted previously, by reporting it as income.

Non-Disparagement Settlement and Confidentiality Clauses

Any confidentiality clause prohibits the parties to a settlement, from disclosing the settlement terms, and a non-disparagement clause restricts you from disparaging each other, ever. The IRS, however, concludes that any compensation received through such settlement clause is liable for a tax deduction.

Calculation of Tax Deduction

All compensation claims, except for those for personal injury, are liable to a tax deduction. The Internal Revenue Service (IRS) can always dispute the taxability or non-taxability of a settlement claim. Personal injury claims are mostly bigger than other types of compensation, as they involve the statement of all medical expenditures, such as the money spent on surgeries, consultation fees, and medical therapies. You should, therefore, keep your personal injury claim, in the event of an accident, as small as possible. Your lawyer can also advise you on how to save big on the tax deducted on your injury claim, through vigilant allocation of your settlement.

The Way Forward

Compensation claims awarded for injuries sustained due to the negligence of others are deemed tax-free in most cases. The rule applies to most cases of personal injury, and does not get downplayed by whether a lawsuit was filed or the case was settled through out-of-court arbitration. Hiring a competent personal lawyer can help you in several aspects of the injury settlement claim, ranging from filing of claim, to legal representation, tax liabilities, and assessment of incurred damage.

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Determining a fair amount for the settlement is, however, quite challenging. Read the blog post to learn about the factors governing personal injury settlement claim amount.