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At Stavros Law P.C., we understand that discrimination can disrupt lives and careers. As experienced discrimination lawyers in Utah, we work diligently to protect your rights. From workplace discrimination to issues with housing and education, our team is dedicated to securing justice for our clients. We guide you through every step of the legal process, striving for resolutions that restore dignity and fairness.
Stavros Law P.C. 8915 S 700 E Ste. 202, Sandy, UT 84070 (801) 758–7604
My Official Website: https://www.utahtriallawyers.net/ Google Plus Listing: https://www.google.com/maps?cid=2030508570123210979
My Other Links:
discrimination lawyers Utah: https://www.utahtriallawyers.net/employment-discrimination.html sexual harassment attorney Utah: https://www.utahtriallawyers.net/sexual-harassment-and-sexual-assault---battery.html Utah wage and hour laws: https://www.utahtriallawyers.net/wage---hour-litigation--overtime-claims--minimum-wage-claims-.html wrongful termination attorney Utah: https://www.utahtriallawyers.net/wrongful-termination.html non compete agreement Utah: https://www.utahtriallawyers.net/non-compete--non-solicitation--non-disclosure-and-related-agreements.html Utah non solicitation agreement: https://www.utahtriallawyers.net/non-compete--non-solicitation---non-disclosure-litigation.html civil litigation attorney Utah: https://www.utahtriallawyers.net/civil-litigation--trials---appeals.html employment agreements Utah: https://www.utahtriallawyers.net/employment-contracts-and-ancillary-agreements.html whistleblower lawyer Utah: https://www.utahtriallawyers.net/whistleblower---qui-tam-cases.html employee rights lawyer Utah: https://www.utahtriallawyers.net/employment---labor-law-litigation.html
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legal services Employment Litigation and Counseling Non-Compete, Non-Disclosure, Non-Solicitation Agreements Discrimination, Harassment & Retaliation Wrongful Termination Wage, Hour and Overtime Litigation Whistleblower and Qui Tam Claims
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#discrimination lawyers Utah#employment discrimination lawyers Utah#discrimination lawyer Utah#discrimination lawyers in salt lake city Utah
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Business Lawyer Near Me
What Does A Business Lawyer Do?
To put it simply, business attorneys help business owners solve problems. Perhaps more importantly, business attorneys help business owners understand the problems they’re facing and which problems they might face in the future. • Starting a Business �� Choosing between an LLC, an S Corp, or another business type? The wrong decision can be incredibly costly to fix and the problems might not be apparent for years! • Writing Contracts – What forms do you need when hiring employees or bringing on a new client? Do they need to sign any kind of waiver? What should the forms say? Business lawyers can help draft contracts to meet the unique needs of your business. • Disputed Contracts & Breaches of Contract – What happens when a contract is disputed? A client isn’t paying? An employee shares secrets? A business lawyer will negotiate and advocate on your behalf, even filing a lawsuit if needed.
youtube
• Mergers & Acquisitions – Thinking about buying out a competitor? Being acquired by a bigger company? Joining forces with another business? Don’t make the mistake of not having a business lawyer to advise and guide you through the process. • Resolving Business Issues & Claims – Even the most prepared and well-meaning business owner can run into problems related to disability and sick leave, discrimination, sexual harassment, and workplace safety. A business lawyer educates clients on applicable laws and best practices, and represents them when an issue arises. • Compliance & Risk Management – New and even established businesses benefit from an experienced business lawyer who can advise on compliance issues and develop systems to monitor and minimize risk. • Real Estate & Property Disputes – Whether your business owns property or leases it, you’ll likely need the assistance of a business lawyer. Business attorneys negotiate sales and leases, navigating complex and confusing real estate and tenant laws.
Do Business Lawyers Go To Court?
youtube
Yes– but only when we need to. Don’t get us wrong – it’s not that business attorneys aren’t expert litigators who take great pride in representing clients in court in Utah. But often times there are a better solution to a dispute and save our clients’ valuable time and money.
When Should A Business Owner Consult With An Attorney?
Sooner rather than later. Even seemingly simple, trivial, and honest mistakes and misunderstandings can cost business owners many thousands of dollars to fix. And in many of those cases, a quick consultation with a business lawyer could’ve prevented all of those problems. As a business owner, if you ever catch yourself thinking “I don’t need a lawyer, I can handle this myself,” it’s probably a good time to speak with a business lawyer and find out for sure. Your time is better spent running your business than trying to resolve a legal situation on your own. Business attorneys provide legal services when it comes to the operations and regulations of businesses. They typically assist with issues like business formation, business dispute resolution, corporate laws, and sales/transfers of businesses. They may also handle other matters such as corporate compliance, securities, and other matters. Other work-related matters such as discrimination and hiring disputes are handled by employment law attorneys. In contrast, business lawyers often aspects that are related to the operations and structure of a business operation.
What Types of Cases do Business Attorneys Handle?
Business attorneys typically handle cases that involve: • Business disputes • Conflicts involving the sale and purchase of stocks and other securities • Issues with business property • Compliance with business regulation and laws • Improper use of protected business information, such as copyrighted and trademarked materials • Interstate and international legal issues, such as transportation of goods, etc.
Business lawyers can represent many different types of clients, including business owners, employees, insurance agencies, and other parties.
What Other Issues Do Business Attorneys Handle?
Besides litigating business disputes, a business attorney may assist with various tasks, such as: • Helping to negotiate, draft, and review business contracts • Helping with business start-up and incorporation filings • Addressing business termination or transfer issues • Helping a company shift or change organizational structure Thus, business attorneys can be consulted for a wide range of legal issues. In some lawsuits, a business lawyer may play the role of an expert witness (for instance, if the court needs additional information regarding a particular business practice).
youtube
Hiring a business lawyer may be necessary in some situations. You may need to hire a lawyer if you have a legal issue that needs to be addressed in court. An experienced business lawyer in your area can provide you with legal representation in the event of a lawsuit. Also, you may need to hire a lawyer if you need help with other business matters, such as starting a business or selling business property. Working with a lawyer can help prevent business losses in the long run.
Among the countless worries for entrepreneurs who are starting or are already running a small business is the question of whether they need a business lawyer. The perception is that attorneys charge high rates and many small businesses don’t have much, if any, extra capital with which to pay lawyers. As a result, most small business owners only hire an attorney experienced with business matters when confronted with a serious legal problem (e.g., you’re sued by a customer). However, legal help is a cost of doing business that often saves you money and helps your business in the long run. While you certainly don’t need an attorney for every step of running your business, an ounce of prevention is worth a pound of the cure.
Issues You Can Handle on Your Own
There are certain matters that are fairly straightforward and/or not unduly difficult to learn and therefore do not require the services of an attorney who charges at least $200 per hour. There are enough expenses associated with running a business, why not save yourself a load of money and do it yourself if you can? The following is a list of some tasks that business owners should consider taking on themselves (with the aid of self-help resources, online and in print): • Writing a business plan • Researching and picking a name for your business (previously trademarked business names can be researched online) • Reserving a domain name for your website • Creating a legal partnership agreement, limited liability company (LLC) operating agreement, or shareholder’s agreement • Applying for an employer identification number (EIN), which you will need for employee tax purposes • Applying for any licenses and permits the business requires • Interviewing and hiring employees (there are federal and state anti-discrimination laws which regulate the hiring of employees) • Submitting necessary IRS forms • Documenting LLC meetings • Hiring independent contractors and contracting with vendors • Creating contracts for use with customers or clients • Creating a buy-sell agreement with partners • Updating any partnership, LLC, or shareholder’s agreements under which you are currently operating • Handling audits initiated by the IRS The above is not an exhaustive list of legal tasks which small business owners can do on their own. It should be stated that if your business is well-funded or you feel that you need the assistance of an attorney, you can always retain a lawyer to help you with everything listed above.
Issues Where You Will Need a Business Lawyer
Most of the issues outlined above can be handled by any intelligent business owner (if you can run a business, you can certainly fill out IRS forms or fill in boilerplate business forms). There are times, however, when a business faces issues that are too complex, too time consuming, or fraught with liability issues. At that point, the wisest move is to retain a business lawyer.
youtube
A few examples include: • Former, current, or prospective employees suing on the grounds of discrimination in hiring, firing, or hostile work environment • Local, state, or federal government entities filing complaints or investigating your business for violation of any laws. • You want to make a “special allocation” of profits and losses or you want to contribute appreciated property to your partnership or LLC agreement • An environmental issue arises and your business is involved (even if your business didn’t cause the environmental problem, you may be penalized) • Negotiating for the sale or your company or for the acquisition of another company or its assets An Ounce of Prevention While you certainly need to retain an attorney for the serious issues above, your emphasis should be placed on preventing such occurrences in the first place. Prevention does not necessarily involve hiring an attorney, though consulting with one wouldn’t hurt. By the time you or your business is sued, the preventable damage has been done and the only question that remains is how much you’ll be paying in attorney’s fees, court fees, and damages. For example, by the time a prospective employee files a lawsuit claiming gender discrimination based in part upon questions posed at the job interview, all you can do is hire an attorney to defend the lawsuit. If, on the other hand, you had done your own research on anti-discrimination laws, or you had consulted an attorney beforehand, you would have known not to inquire as to whether the applicant was pregnant or planned on becoming pregnant. The small effort at the beginning of the process would save you an enormous headache later. To prevent unnecessary attorney costs at the inception of your business as well as tremendous costs after a lawsuit has been filed, you might consider a consultation arrangement with an attorney. Such an arrangement would entail you doing most of the legwork of research and the attorney providing legal review or guidance. For example, you might use self help and online sources to create a contract with a vendor and ask an attorney to simply review and offer suggestions. Or from the previous example, you might research types of questions to ask during an interview and then send the list to an attorney for his or her approval. This way, you prevent the potential headache later and the cost to you is minimal because you’ve already done most of the work and the attorney simply reviews the document.
Business Lawyer vs. Corporate Lawyer
One of the significant differences between corporate and business lawyers is that corporate law tends to provide guidelines in purchases and selling of items, who are savvy in the sometimes bureaucratic process of selling services in an international market. Corporate law affects businesses significantly, with many companies involved in legal troubles due to a breach of a corporate mandate. In business law, lawyers cover areas such as employment and taxes. Corporate law embodies corporate identities and how they are managed and formed. Business law covers several areas of law such as employment and commercial transactions. Both affect business and business entities and can be an asset in any business, regardless of its size. These entities include limited liability partnerships, sole proprietorships, and mergers.
Benefits Of Hiring A Business Lawyer
Hiring a business lawyer early on helps you understand all the legal intricacies of the industry. When your lawyer knows the foundation of your business, he or she can help you see things from a different perspective and give you immediate advice when something goes wrong. If you choose a lawyer who has a specific interest in the nature of your business, you can take advantage of the following:
A business lawyer knows the specifics of the industry. Their knowledge about the whole process can be handy, saving you time on certain issues.
Aside from legal advice, a specialist can also assist you in drafting and negotiating drafts and labor agreements that will prevent disagreements in the future.
Dispute Resolution
A professional business attorney can give you legal options that are beneficial to both parties. Alternatives, such as arbitration and mediation, are better than litigation, which requires time and money.
youtube
Advantages of Hiring a Business Lawyer When Starting Your Company When starting a business, you may encounter many anxious and excited emotions with the hope of running a smooth and successful business. Unfortunately, issues and uncertainties arise, and you will need an attorney to protect yourself against liability and legal consequences. Having a good business lawyer will provide peace of mind and value to your business. Consider the following reasons for hiring the services of a business lawyer, when starting your business. • Choosing a Suitable Business Structure: Choosing a proper business structure for your business is crucial because if you do not structure properly from the get-go, you may find yourself with unnecessary legal issues down the road. You will be exposed to more liability from partnerships and sole proprietorships than that of an LLC or s and c corporation. Consider hiring a business lawyer to assess your business and help you understand liabilities, tax obligations, employee inquiries, and setup costs, so you can decide what business structure is best suitable. • Prevent Lawsuits: Hiring a business lawyer can reduce the exposure of your business from lawsuits, including employment lawsuits. A business lawyer will help get your business in legal order for state and federal employment laws. Being proactive before a lawsuit occurs will save you from countless headaches down the road. • Drafting Contracts: All business contracts, whether for employees, vendors, customers, etc., should be reviewed by a business lawyer to ensure all necessary items are captured. Not sure if a transaction requires a contract? Hiring a business lawyer can provide you clarity while ensuring that a quality contract is produced. • Protect your Intellectual Property: Intellectual property includes product designs, inventions, logos, business services, original works, and trade secrets. Protecting your intellectual property is vital to maintain your distinctive and competitive business. Depending on the type of intellectual property you have, a patent, copyright, or trademark can be filed. A business lawyer can help you protect and preserve your legal right to your intellectual property. • Real-Estate Leases and Agreements: Unless your business is run from your home, you will be looking to set up shop in an office building, warehouse or other commercial space. Whether you are purchasing or leasing space, you will want a business attorney to review all fine print on all contracts, terms, and agreements.
Utah Business Attorney
When you need legal help with your business, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.
Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
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Business Lawyer Near Me
What Does A Business Lawyer Do?
To put it simply, business attorneys help business owners solve problems. Perhaps more importantly, business attorneys help business owners understand the problems they’re facing and which problems they might face in the future. • Starting a Business – Choosing between an LLC, an S Corp, or another business type? The wrong decision can be incredibly costly to fix and the problems might not be apparent for years! • Writing Contracts – What forms do you need when hiring employees or bringing on a new client? Do they need to sign any kind of waiver? What should the forms say? Business lawyers can help draft contracts to meet the unique needs of your business. • Disputed Contracts & Breaches of Contract – What happens when a contract is disputed? A client isn’t paying? An employee shares secrets? A business lawyer will negotiate and advocate on your behalf, even filing a lawsuit if needed.
youtube
• Mergers & Acquisitions – Thinking about buying out a competitor? Being acquired by a bigger company? Joining forces with another business? Don’t make the mistake of not having a business lawyer to advise and guide you through the process. • Resolving Business Issues & Claims – Even the most prepared and well-meaning business owner can run into problems related to disability and sick leave, discrimination, sexual harassment, and workplace safety. A business lawyer educates clients on applicable laws and best practices, and represents them when an issue arises. • Compliance & Risk Management – New and even established businesses benefit from an experienced business lawyer who can advise on compliance issues and develop systems to monitor and minimize risk. • Real Estate & Property Disputes – Whether your business owns property or leases it, you’ll likely need the assistance of a business lawyer. Business attorneys negotiate sales and leases, navigating complex and confusing real estate and tenant laws.
Do Business Lawyers Go To Court?
youtube
Yes– but only when we need to. Don’t get us wrong – it’s not that business attorneys aren’t expert litigators who take great pride in representing clients in court in Utah. But often times there are a better solution to a dispute and save our clients’ valuable time and money.
When Should A Business Owner Consult With An Attorney?
Sooner rather than later. Even seemingly simple, trivial, and honest mistakes and misunderstandings can cost business owners many thousands of dollars to fix. And in many of those cases, a quick consultation with a business lawyer could’ve prevented all of those problems. As a business owner, if you ever catch yourself thinking “I don’t need a lawyer, I can handle this myself,” it’s probably a good time to speak with a business lawyer and find out for sure. Your time is better spent running your business than trying to resolve a legal situation on your own. Business attorneys provide legal services when it comes to the operations and regulations of businesses. They typically assist with issues like business formation, business dispute resolution, corporate laws, and sales/transfers of businesses. They may also handle other matters such as corporate compliance, securities, and other matters. Other work-related matters such as discrimination and hiring disputes are handled by employment law attorneys. In contrast, business lawyers often aspects that are related to the operations and structure of a business operation.
What Types of Cases do Business Attorneys Handle?
Business attorneys typically handle cases that involve: • Business disputes • Conflicts involving the sale and purchase of stocks and other securities • Issues with business property • Compliance with business regulation and laws • Improper use of protected business information, such as copyrighted and trademarked materials • Interstate and international legal issues, such as transportation of goods, etc.
Business lawyers can represent many different types of clients, including business owners, employees, insurance agencies, and other parties.
What Other Issues Do Business Attorneys Handle?
Besides litigating business disputes, a business attorney may assist with various tasks, such as: • Helping to negotiate, draft, and review business contracts • Helping with business start-up and incorporation filings • Addressing business termination or transfer issues • Helping a company shift or change organizational structure Thus, business attorneys can be consulted for a wide range of legal issues. In some lawsuits, a business lawyer may play the role of an expert witness (for instance, if the court needs additional information regarding a particular business practice).
youtube
Hiring a business lawyer may be necessary in some situations. You may need to hire a lawyer if you have a legal issue that needs to be addressed in court. An experienced business lawyer in your area can provide you with legal representation in the event of a lawsuit. Also, you may need to hire a lawyer if you need help with other business matters, such as starting a business or selling business property. Working with a lawyer can help prevent business losses in the long run.
Among the countless worries for entrepreneurs who are starting or are already running a small business is the question of whether they need a business lawyer. The perception is that attorneys charge high rates and many small businesses don’t have much, if any, extra capital with which to pay lawyers. As a result, most small business owners only hire an attorney experienced with business matters when confronted with a serious legal problem (e.g., you’re sued by a customer). However, legal help is a cost of doing business that often saves you money and helps your business in the long run. While you certainly don’t need an attorney for every step of running your business, an ounce of prevention is worth a pound of the cure.
Issues You Can Handle on Your Own
There are certain matters that are fairly straightforward and/or not unduly difficult to learn and therefore do not require the services of an attorney who charges at least $200 per hour. There are enough expenses associated with running a business, why not save yourself a load of money and do it yourself if you can? The following is a list of some tasks that business owners should consider taking on themselves (with the aid of self-help resources, online and in print): • Writing a business plan • Researching and picking a name for your business (previously trademarked business names can be researched online) • Reserving a domain name for your website • Creating a legal partnership agreement, limited liability company (LLC) operating agreement, or shareholder’s agreement • Applying for an employer identification number (EIN), which you will need for employee tax purposes • Applying for any licenses and permits the business requires • Interviewing and hiring employees (there are federal and state anti-discrimination laws which regulate the hiring of employees) • Submitting necessary IRS forms • Documenting LLC meetings • Hiring independent contractors and contracting with vendors • Creating contracts for use with customers or clients • Creating a buy-sell agreement with partners • Updating any partnership, LLC, or shareholder’s agreements under which you are currently operating • Handling audits initiated by the IRS The above is not an exhaustive list of legal tasks which small business owners can do on their own. It should be stated that if your business is well-funded or you feel that you need the assistance of an attorney, you can always retain a lawyer to help you with everything listed above.
Issues Where You Will Need a Business Lawyer
Most of the issues outlined above can be handled by any intelligent business owner (if you can run a business, you can certainly fill out IRS forms or fill in boilerplate business forms). There are times, however, when a business faces issues that are too complex, too time consuming, or fraught with liability issues. At that point, the wisest move is to retain a business lawyer.
youtube
A few examples include: • Former, current, or prospective employees suing on the grounds of discrimination in hiring, firing, or hostile work environment • Local, state, or federal government entities filing complaints or investigating your business for violation of any laws. • You want to make a “special allocation” of profits and losses or you want to contribute appreciated property to your partnership or LLC agreement • An environmental issue arises and your business is involved (even if your business didn’t cause the environmental problem, you may be penalized) • Negotiating for the sale or your company or for the acquisition of another company or its assets An Ounce of Prevention While you certainly need to retain an attorney for the serious issues above, your emphasis should be placed on preventing such occurrences in the first place. Prevention does not necessarily involve hiring an attorney, though consulting with one wouldn’t hurt. By the time you or your business is sued, the preventable damage has been done and the only question that remains is how much you’ll be paying in attorney’s fees, court fees, and damages. For example, by the time a prospective employee files a lawsuit claiming gender discrimination based in part upon questions posed at the job interview, all you can do is hire an attorney to defend the lawsuit. If, on the other hand, you had done your own research on anti-discrimination laws, or you had consulted an attorney beforehand, you would have known not to inquire as to whether the applicant was pregnant or planned on becoming pregnant. The small effort at the beginning of the process would save you an enormous headache later. To prevent unnecessary attorney costs at the inception of your business as well as tremendous costs after a lawsuit has been filed, you might consider a consultation arrangement with an attorney. Such an arrangement would entail you doing most of the legwork of research and the attorney providing legal review or guidance. For example, you might use self help and online sources to create a contract with a vendor and ask an attorney to simply review and offer suggestions. Or from the previous example, you might research types of questions to ask during an interview and then send the list to an attorney for his or her approval. This way, you prevent the potential headache later and the cost to you is minimal because you’ve already done most of the work and the attorney simply reviews the document.
Business Lawyer vs. Corporate Lawyer
One of the significant differences between corporate and business lawyers is that corporate law tends to provide guidelines in purchases and selling of items, who are savvy in the sometimes bureaucratic process of selling services in an international market. Corporate law affects businesses significantly, with many companies involved in legal troubles due to a breach of a corporate mandate. In business law, lawyers cover areas such as employment and taxes. Corporate law embodies corporate identities and how they are managed and formed. Business law covers several areas of law such as employment and commercial transactions. Both affect business and business entities and can be an asset in any business, regardless of its size. These entities include limited liability partnerships, sole proprietorships, and mergers.
Benefits Of Hiring A Business Lawyer
Hiring a business lawyer early on helps you understand all the legal intricacies of the industry. When your lawyer knows the foundation of your business, he or she can help you see things from a different perspective and give you immediate advice when something goes wrong. If you choose a lawyer who has a specific interest in the nature of your business, you can take advantage of the following:
A business lawyer knows the specifics of the industry. Their knowledge about the whole process can be handy, saving you time on certain issues.
Aside from legal advice, a specialist can also assist you in drafting and negotiating drafts and labor agreements that will prevent disagreements in the future.
Dispute Resolution
A professional business attorney can give you legal options that are beneficial to both parties. Alternatives, such as arbitration and mediation, are better than litigation, which requires time and money.
youtube
Advantages of Hiring a Business Lawyer When Starting Your Company When starting a business, you may encounter many anxious and excited emotions with the hope of running a smooth and successful business. Unfortunately, issues and uncertainties arise, and you will need an attorney to protect yourself against liability and legal consequences. Having a good business lawyer will provide peace of mind and value to your business. Consider the following reasons for hiring the services of a business lawyer, when starting your business. • Choosing a Suitable Business Structure: Choosing a proper business structure for your business is crucial because if you do not structure properly from the get-go, you may find yourself with unnecessary legal issues down the road. You will be exposed to more liability from partnerships and sole proprietorships than that of an LLC or s and c corporation. Consider hiring a business lawyer to assess your business and help you understand liabilities, tax obligations, employee inquiries, and setup costs, so you can decide what business structure is best suitable. • Prevent Lawsuits: Hiring a business lawyer can reduce the exposure of your business from lawsuits, including employment lawsuits. A business lawyer will help get your business in legal order for state and federal employment laws. Being proactive before a lawsuit occurs will save you from countless headaches down the road. • Drafting Contracts: All business contracts, whether for employees, vendors, customers, etc., should be reviewed by a business lawyer to ensure all necessary items are captured. Not sure if a transaction requires a contract? Hiring a business lawyer can provide you clarity while ensuring that a quality contract is produced. • Protect your Intellectual Property: Intellectual property includes product designs, inventions, logos, business services, original works, and trade secrets. Protecting your intellectual property is vital to maintain your distinctive and competitive business. Depending on the type of intellectual property you have, a patent, copyright, or trademark can be filed. A business lawyer can help you protect and preserve your legal right to your intellectual property. • Real-Estate Leases and Agreements: Unless your business is run from your home, you will be looking to set up shop in an office building, warehouse or other commercial space. Whether you are purchasing or leasing space, you will want a business attorney to review all fine print on all contracts, terms, and agreements.
Utah Business Attorney
When you need legal help with your business, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.
Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Recent Posts
Can A Private Company Do Private Placement?
Fish And Game Lawyer
Visitation Law
Construction Contract Law
Elder Tax Law
Utah Divorce Code 30-3-33
{ "@context": "http://schema.org/", "@type": "Product", "name": "ascentlawfirm", "description": "Ascent Law helps you in divorce, bankruptcy, probate, business or criminal cases in Utah, call 801-676-5506 for a free consultation today. We want to help you. ", "brand": { "@type": "Thing", "name": "ascentlawfirm" }, "aggregateRating": { "@type": "AggregateRating", "ratingValue": "4.9", "ratingCount": "118" }, "offers": { "@type": "Offer", "priceCurrency": "USD" } }
The post Business Lawyer Near Me first appeared on Michael Anderson.
Source: https://www.ascentlawfirm.com/business-lawyer-near-me/
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Business Lawyer Near Me
What Does A Business Lawyer Do?
To put it simply, business attorneys help business owners solve problems. Perhaps more importantly, business attorneys help business owners understand the problems they’re facing and which problems they might face in the future. • Starting a Business – Choosing between an LLC, an S Corp, or another business type? The wrong decision can be incredibly costly to fix and the problems might not be apparent for years! • Writing Contracts – What forms do you need when hiring employees or bringing on a new client? Do they need to sign any kind of waiver? What should the forms say? Business lawyers can help draft contracts to meet the unique needs of your business. • Disputed Contracts & Breaches of Contract – What happens when a contract is disputed? A client isn’t paying? An employee shares secrets? A business lawyer will negotiate and advocate on your behalf, even filing a lawsuit if needed.
youtube
• Mergers & Acquisitions – Thinking about buying out a competitor? Being acquired by a bigger company? Joining forces with another business? Don’t make the mistake of not having a business lawyer to advise and guide you through the process. • Resolving Business Issues & Claims – Even the most prepared and well-meaning business owner can run into problems related to disability and sick leave, discrimination, sexual harassment, and workplace safety. A business lawyer educates clients on applicable laws and best practices, and represents them when an issue arises. • Compliance & Risk Management – New and even established businesses benefit from an experienced business lawyer who can advise on compliance issues and develop systems to monitor and minimize risk. • Real Estate & Property Disputes – Whether your business owns property or leases it, you’ll likely need the assistance of a business lawyer. Business attorneys negotiate sales and leases, navigating complex and confusing real estate and tenant laws.
Do Business Lawyers Go To Court?
youtube
Yes– but only when we need to. Don’t get us wrong – it’s not that business attorneys aren’t expert litigators who take great pride in representing clients in court in Utah. But often times there are a better solution to a dispute and save our clients’ valuable time and money.
When Should A Business Owner Consult With An Attorney?
Sooner rather than later. Even seemingly simple, trivial, and honest mistakes and misunderstandings can cost business owners many thousands of dollars to fix. And in many of those cases, a quick consultation with a business lawyer could’ve prevented all of those problems. As a business owner, if you ever catch yourself thinking “I don’t need a lawyer, I can handle this myself,” it’s probably a good time to speak with a business lawyer and find out for sure. Your time is better spent running your business than trying to resolve a legal situation on your own. Business attorneys provide legal services when it comes to the operations and regulations of businesses. They typically assist with issues like business formation, business dispute resolution, corporate laws, and sales/transfers of businesses. They may also handle other matters such as corporate compliance, securities, and other matters. Other work-related matters such as discrimination and hiring disputes are handled by employment law attorneys. In contrast, business lawyers often aspects that are related to the operations and structure of a business operation.
What Types of Cases do Business Attorneys Handle?
Business attorneys typically handle cases that involve: • Business disputes • Conflicts involving the sale and purchase of stocks and other securities • Issues with business property • Compliance with business regulation and laws • Improper use of protected business information, such as copyrighted and trademarked materials • Interstate and international legal issues, such as transportation of goods, etc.
Business lawyers can represent many different types of clients, including business owners, employees, insurance agencies, and other parties.
What Other Issues Do Business Attorneys Handle?
Besides litigating business disputes, a business attorney may assist with various tasks, such as: • Helping to negotiate, draft, and review business contracts • Helping with business start-up and incorporation filings • Addressing business termination or transfer issues • Helping a company shift or change organizational structure Thus, business attorneys can be consulted for a wide range of legal issues. In some lawsuits, a business lawyer may play the role of an expert witness (for instance, if the court needs additional information regarding a particular business practice).
youtube
Hiring a business lawyer may be necessary in some situations. You may need to hire a lawyer if you have a legal issue that needs to be addressed in court. An experienced business lawyer in your area can provide you with legal representation in the event of a lawsuit. Also, you may need to hire a lawyer if you need help with other business matters, such as starting a business or selling business property. Working with a lawyer can help prevent business losses in the long run.
Among the countless worries for entrepreneurs who are starting or are already running a small business is the question of whether they need a business lawyer. The perception is that attorneys charge high rates and many small businesses don’t have much, if any, extra capital with which to pay lawyers. As a result, most small business owners only hire an attorney experienced with business matters when confronted with a serious legal problem (e.g., you’re sued by a customer). However, legal help is a cost of doing business that often saves you money and helps your business in the long run. While you certainly don’t need an attorney for every step of running your business, an ounce of prevention is worth a pound of the cure.
Issues You Can Handle on Your Own
There are certain matters that are fairly straightforward and/or not unduly difficult to learn and therefore do not require the services of an attorney who charges at least $200 per hour. There are enough expenses associated with running a business, why not save yourself a load of money and do it yourself if you can? The following is a list of some tasks that business owners should consider taking on themselves (with the aid of self-help resources, online and in print): • Writing a business plan • Researching and picking a name for your business (previously trademarked business names can be researched online) • Reserving a domain name for your website • Creating a legal partnership agreement, limited liability company (LLC) operating agreement, or shareholder’s agreement • Applying for an employer identification number (EIN), which you will need for employee tax purposes • Applying for any licenses and permits the business requires • Interviewing and hiring employees (there are federal and state anti-discrimination laws which regulate the hiring of employees) • Submitting necessary IRS forms • Documenting LLC meetings • Hiring independent contractors and contracting with vendors • Creating contracts for use with customers or clients • Creating a buy-sell agreement with partners • Updating any partnership, LLC, or shareholder’s agreements under which you are currently operating • Handling audits initiated by the IRS The above is not an exhaustive list of legal tasks which small business owners can do on their own. It should be stated that if your business is well-funded or you feel that you need the assistance of an attorney, you can always retain a lawyer to help you with everything listed above.
Issues Where You Will Need a Business Lawyer
Most of the issues outlined above can be handled by any intelligent business owner (if you can run a business, you can certainly fill out IRS forms or fill in boilerplate business forms). There are times, however, when a business faces issues that are too complex, too time consuming, or fraught with liability issues. At that point, the wisest move is to retain a business lawyer.
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A few examples include: • Former, current, or prospective employees suing on the grounds of discrimination in hiring, firing, or hostile work environment • Local, state, or federal government entities filing complaints or investigating your business for violation of any laws. • You want to make a “special allocation” of profits and losses or you want to contribute appreciated property to your partnership or LLC agreement • An environmental issue arises and your business is involved (even if your business didn’t cause the environmental problem, you may be penalized) • Negotiating for the sale or your company or for the acquisition of another company or its assets An Ounce of Prevention While you certainly need to retain an attorney for the serious issues above, your emphasis should be placed on preventing such occurrences in the first place. Prevention does not necessarily involve hiring an attorney, though consulting with one wouldn’t hurt. By the time you or your business is sued, the preventable damage has been done and the only question that remains is how much you’ll be paying in attorney’s fees, court fees, and damages. For example, by the time a prospective employee files a lawsuit claiming gender discrimination based in part upon questions posed at the job interview, all you can do is hire an attorney to defend the lawsuit. If, on the other hand, you had done your own research on anti-discrimination laws, or you had consulted an attorney beforehand, you would have known not to inquire as to whether the applicant was pregnant or planned on becoming pregnant. The small effort at the beginning of the process would save you an enormous headache later. To prevent unnecessary attorney costs at the inception of your business as well as tremendous costs after a lawsuit has been filed, you might consider a consultation arrangement with an attorney. Such an arrangement would entail you doing most of the legwork of research and the attorney providing legal review or guidance. For example, you might use self help and online sources to create a contract with a vendor and ask an attorney to simply review and offer suggestions. Or from the previous example, you might research types of questions to ask during an interview and then send the list to an attorney for his or her approval. This way, you prevent the potential headache later and the cost to you is minimal because you’ve already done most of the work and the attorney simply reviews the document.
Business Lawyer vs. Corporate Lawyer
One of the significant differences between corporate and business lawyers is that corporate law tends to provide guidelines in purchases and selling of items, who are savvy in the sometimes bureaucratic process of selling services in an international market. Corporate law affects businesses significantly, with many companies involved in legal troubles due to a breach of a corporate mandate. In business law, lawyers cover areas such as employment and taxes. Corporate law embodies corporate identities and how they are managed and formed. Business law covers several areas of law such as employment and commercial transactions. Both affect business and business entities and can be an asset in any business, regardless of its size. These entities include limited liability partnerships, sole proprietorships, and mergers.
Benefits Of Hiring A Business Lawyer
Hiring a business lawyer early on helps you understand all the legal intricacies of the industry. When your lawyer knows the foundation of your business, he or she can help you see things from a different perspective and give you immediate advice when something goes wrong. If you choose a lawyer who has a specific interest in the nature of your business, you can take advantage of the following:
A business lawyer knows the specifics of the industry. Their knowledge about the whole process can be handy, saving you time on certain issues.
Aside from legal advice, a specialist can also assist you in drafting and negotiating drafts and labor agreements that will prevent disagreements in the future.
Dispute Resolution
A professional business attorney can give you legal options that are beneficial to both parties. Alternatives, such as arbitration and mediation, are better than litigation, which requires time and money.
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Advantages of Hiring a Business Lawyer When Starting Your Company When starting a business, you may encounter many anxious and excited emotions with the hope of running a smooth and successful business. Unfortunately, issues and uncertainties arise, and you will need an attorney to protect yourself against liability and legal consequences. Having a good business lawyer will provide peace of mind and value to your business. Consider the following reasons for hiring the services of a business lawyer, when starting your business. • Choosing a Suitable Business Structure: Choosing a proper business structure for your business is crucial because if you do not structure properly from the get-go, you may find yourself with unnecessary legal issues down the road. You will be exposed to more liability from partnerships and sole proprietorships than that of an LLC or s and c corporation. Consider hiring a business lawyer to assess your business and help you understand liabilities, tax obligations, employee inquiries, and setup costs, so you can decide what business structure is best suitable. • Prevent Lawsuits: Hiring a business lawyer can reduce the exposure of your business from lawsuits, including employment lawsuits. A business lawyer will help get your business in legal order for state and federal employment laws. Being proactive before a lawsuit occurs will save you from countless headaches down the road. • Drafting Contracts: All business contracts, whether for employees, vendors, customers, etc., should be reviewed by a business lawyer to ensure all necessary items are captured. Not sure if a transaction requires a contract? Hiring a business lawyer can provide you clarity while ensuring that a quality contract is produced. • Protect your Intellectual Property: Intellectual property includes product designs, inventions, logos, business services, original works, and trade secrets. Protecting your intellectual property is vital to maintain your distinctive and competitive business. Depending on the type of intellectual property you have, a patent, copyright, or trademark can be filed. A business lawyer can help you protect and preserve your legal right to your intellectual property. • Real-Estate Leases and Agreements: Unless your business is run from your home, you will be looking to set up shop in an office building, warehouse or other commercial space. Whether you are purchasing or leasing space, you will want a business attorney to review all fine print on all contracts, terms, and agreements.
Utah Business Attorney
When you need legal help with your business, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.
Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
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Senate Confirms Judge Who Attacked Roe v. Wade, Called Being Transgender A Delusion
WASHINGTON ― The Senate voted Wednesday to confirm Matthew Kacsmaryk to a lifetime federal judgeship despite his record of hostility toward LGBTQ rights and abortion rights.
The Senate voted 52-46 to put Kacsmaryk, 42, onto the U.S. District Court for the Northern District of Texas. Every Democrat present voted no. Every Republican present but one, Susan Collins (Maine), voted yes.
LGBTQ and reproductive rights groups have been protesting Kacsmaryk’s nomination for more than a year because of his extreme views on both fronts. Last week, dozens of human rights groups signed a letter opposing him.
Kacsmaryk fought against protections for LGBTQ people in employment, housing and health care. He called including protections for LGBTQ people in the Violence Against Women Act “a grave mistake.” In 2015, when Utah passed nondiscrimination protections, Kacsmaryk called the law “a bad idea” because it suggests that discrimination based on sexual orientation and gender identity should be taken as seriously as other forms of discrimination. He signed a 2016 letter that called being transgender “a delusion.”
On reproductive rights, Kacsmaryk opposed the employer contraceptive mandate in the Affordable Care Act and played a lead role in opposing a Washington state law that required pharmacists to provide birth control to women.
He also criticized the Supreme Court’s decision in Roe v. Wade, describing that case as one in which “seven justices of the Supreme Court found an unwritten ‘fundamental right’ to abortion hiding in the due process clause of the Fourteenth Amendment and the shadowy ‘penumbras’ of the Bill of Rights, a celestial phenomenon invisible to the non-lawyer eye.” (What?)
Senate Minority Leader Chuck Schumer (D-N.Y.) wondered aloud how anyone could expect Kacsmaryk to be a fair and impartial judge. He cited bizarre comments Kacsmaryk has made about the Equality Act, a sweeping LGBTQ anti-discrimination bill.
“He labeled the Equality Act a ‘public affirmation of the lie that the human person is an autonomous blob of Silly Putty, unconstrained by nature or biology, and that marriage, sexuality, gender identity, and even the unborn child must yield to the erotic desires of liberated adults,’” Schumer said Wednesday on the Senate floor. “Why on earth is this man a nominee for a lifetime appointment? Why would my colleagues want to drape black robes over these bigoted views? Our judicial system is designed to protect liberties, not denigrate them.”
ASSOCIATED PRESS
Senate Majority Leader Mitch McConnell (R-Ky.) has said his No. 1 priority is confirming Trump’s lifetime federal judges, most of whom have records of being anti-LGBTQ, anti-abortion and anti-voting rights.
Kacsmaryk, who is the deputy general counsel for First Liberty Institute, a right-wing Christian advocacy group, sounds like a lot of President Donald Trump’s other judicial nominees — young, right-wing ideologues, the vast majority of whom are white men.
But even within the homogeneity of Trump’s court picks, Kacsmaryk stands out.
“He is one of Trump’s most extreme nominees,” said Carl Tobias, a University of Richmond law professor and an expert on judicial nominations. “His public statements about LGBTQ people and about abortion suggest that in litigation involving LGBTQ and abortion rights, litigants will have difficulty believing that he will fairly resolve their cases.”
Kacsmaryk does have something in common with nearly all of Trump’s judicial nominees: He’s a member of the conservative Federalist Society, which has been driving Trump’s judicial selection process and funneling anti-abortion and anti-LGBTQ nominees to the White House.
Senate Majority Leader Mitch McConnell (R-Ky.) has made judicial confirmations his top priority while Trump is in the White House. In the past two and a half years, he has ushered through the confirmations of two Supreme Court justices, 76 district judges and 41 circuit judges.
That’s more circuit judges than any president has gotten through by this point in a first term. To put that into perspective: 1 in 5 of all of the nation’s current circuit judges was nominated by Trump.
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How to Lower Your Taxes
Paying taxes, while a civic duty, isn’t always an enjoyable experience, mostly because of the complicated paperwork involved. However, that stack of papers could unlock considerable tax savings, with the proper planning and strategies. Here’s an introduction to some basic strategies that could help lower your taxes.
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Some income is not subject to income tax. By earning more tax-free income, a taxpayer can lower their tax liability. You could do this by selling a primary home, investing in bonds, depositing money in a tuition plan for your child’s education, opening a health savings account, and taking advantage of certain employer benefits like health/life insurance, disability insurance, dependent care assistance, and educational assistance.
Contributions to a 401k retirement account can help lower your taxes by reducing taxable income. The pre-tax money is deposited directly into the 401k account and the growth is tax deferred.
youtube
Another easy way to lower your taxes is to pay into a tax-free health flexible spending account. Contributions made to a flexible spending account are not subject to employment or federal income taxes. If the employer participates, an employee can voluntarily elect to contribute a certain amount of money into the account at the beginning of the year. During the year the employee participates, the employer will periodically deduct a payment for the elected amount from the employee’s paycheck, but the employee can receive the maximum reimbursement at any time.
Tax deductions reduce taxable income. The amount saved in taxes depends on the taxpayer’s tax rate. A taxpayer can either take a standard deduction or can take itemized deductions for medical and dental costs, mortgage points, mortgage interest, property taxes, state income taxes, charitable contributions, and business expenses, among others.
Reduce Your Tax Rate
Because federal income tax rates vary, it’s possible to lower your taxes by reducing your tax rate. Tax rates range from 5% to 35%. The IRS assesses tax on income earned from work at an ordinary income rate of up to 35%. In contrast, a lower tax rate applies to income earned on stocks, bonds, mutual funds, and real estate investments. The rate depends on the taxpayer’s tax bracket and the holding period for the investment.
youtube
Shifting income to a child in a lower tax bracket can reduce your income taxes. This is also referred to as splitting income. Shifting income accomplishes two goals: it reduces tax liability and decreases a taxpayer’s adjusted gross income.
As opposed to a tax deduction, a tax credit can lower your taxes dollar for dollar. A tax credit will reduce the amount of taxes you must pay. The government uses tax credits to encourage taxpayers to engage in certain activities or to grant tax relief. The IRS gives the following types of credits: earned income credit, first-time homebuyer credit, child and dependent care credit, adoption credit, education credit, and retirement savings contributions credit. The IRS adds new tax credits every year.
Donating to a charitable organization can also lower your taxes. The IRS allows taxpayers to make itemized deductions on their tax return for gifts made to qualified charitable organizations. A taxpayer can deduct donations of money, stock, or noncash contributions and, in some cases, out-of-pocket expenses like transportation costs.
If you itemize deductions, deducting medical expenses can lower your taxes. The IRS defines medical expenses as costs incurred for diagnosis, treatment, cure, mitigation, or the prevention of a disease. The taxpayer can deduct medical and dental expenses that exceed 7.5% of their adjusted gross income. Qualified expenses include those for yourself, a spouse, or dependents. Regardless of when the taxpayer incurs the medical costs, the expenses are eligible for deduction in the year paid.
A taxpayer can reduce tax liability by benefiting from losses sustained on an investment. To qualify for the deduction, the taxpayer must have taxable gains and losses. The IRS allows taxpayers to use a loss to offset capital gains. If the loss exceeds gains, the taxpayer can deduct the loss against ordinary income. It is permissible to carry over a loss to later years if it exceeds the limit.
Free Consultation with a Tax Lawyer
When you need tax help, please call Ascent Law for your free consultation (801) 676-5506. We want to help you.
Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Recent Posts
Discrimination and the ADA
Domestic Partner
Injury Lawyer
Family Lawyer
Chapter 13 Bankruptcy
Annulments
from Michael Anderson https://www.ascentlawfirm.com/how-to-lower-your-taxes/ from Lawyer South Jordan Utah https://lawyersouthjordan.tumblr.com/post/183049299292
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How to Lower Your Taxes
Paying taxes, while a civic duty, isn’t always an enjoyable experience, mostly because of the complicated paperwork involved. However, that stack of papers could unlock considerable tax savings, with the proper planning and strategies. Here’s an introduction to some basic strategies that could help lower your taxes.
youtube
Some income is not subject to income tax. By earning more tax-free income, a taxpayer can lower their tax liability. You could do this by selling a primary home, investing in bonds, depositing money in a tuition plan for your child’s education, opening a health savings account, and taking advantage of certain employer benefits like health/life insurance, disability insurance, dependent care assistance, and educational assistance.
Contributions to a 401k retirement account can help lower your taxes by reducing taxable income. The pre-tax money is deposited directly into the 401k account and the growth is tax deferred.
youtube
Another easy way to lower your taxes is to pay into a tax-free health flexible spending account. Contributions made to a flexible spending account are not subject to employment or federal income taxes. If the employer participates, an employee can voluntarily elect to contribute a certain amount of money into the account at the beginning of the year. During the year the employee participates, the employer will periodically deduct a payment for the elected amount from the employee’s paycheck, but the employee can receive the maximum reimbursement at any time.
Tax deductions reduce taxable income. The amount saved in taxes depends on the taxpayer’s tax rate. A taxpayer can either take a standard deduction or can take itemized deductions for medical and dental costs, mortgage points, mortgage interest, property taxes, state income taxes, charitable contributions, and business expenses, among others.
Reduce Your Tax Rate
Because federal income tax rates vary, it’s possible to lower your taxes by reducing your tax rate. Tax rates range from 5% to 35%. The IRS assesses tax on income earned from work at an ordinary income rate of up to 35%. In contrast, a lower tax rate applies to income earned on stocks, bonds, mutual funds, and real estate investments. The rate depends on the taxpayer’s tax bracket and the holding period for the investment.
youtube
Shifting income to a child in a lower tax bracket can reduce your income taxes. This is also referred to as splitting income. Shifting income accomplishes two goals: it reduces tax liability and decreases a taxpayer’s adjusted gross income.
As opposed to a tax deduction, a tax credit can lower your taxes dollar for dollar. A tax credit will reduce the amount of taxes you must pay. The government uses tax credits to encourage taxpayers to engage in certain activities or to grant tax relief. The IRS gives the following types of credits: earned income credit, first-time homebuyer credit, child and dependent care credit, adoption credit, education credit, and retirement savings contributions credit. The IRS adds new tax credits every year.
Donating to a charitable organization can also lower your taxes. The IRS allows taxpayers to make itemized deductions on their tax return for gifts made to qualified charitable organizations. A taxpayer can deduct donations of money, stock, or noncash contributions and, in some cases, out-of-pocket expenses like transportation costs.
If you itemize deductions, deducting medical expenses can lower your taxes. The IRS defines medical expenses as costs incurred for diagnosis, treatment, cure, mitigation, or the prevention of a disease. The taxpayer can deduct medical and dental expenses that exceed 7.5% of their adjusted gross income. Qualified expenses include those for yourself, a spouse, or dependents. Regardless of when the taxpayer incurs the medical costs, the expenses are eligible for deduction in the year paid.
A taxpayer can reduce tax liability by benefiting from losses sustained on an investment. To qualify for the deduction, the taxpayer must have taxable gains and losses. The IRS allows taxpayers to use a loss to offset capital gains. If the loss exceeds gains, the taxpayer can deduct the loss against ordinary income. It is permissible to carry over a loss to later years if it exceeds the limit.
Free Consultation with a Tax Lawyer
When you need tax help, please call Ascent Law for your free consultation (801) 676-5506. We want to help you.
Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Recent Posts
Discrimination and the ADA
Domestic Partner
Injury Lawyer
Family Lawyer
Chapter 13 Bankruptcy
Annulments
0 notes
Text
How to Lower Your Taxes
Paying taxes, while a civic duty, isn’t always an enjoyable experience, mostly because of the complicated paperwork involved. However, that stack of papers could unlock considerable tax savings, with the proper planning and strategies. Here’s an introduction to some basic strategies that could help lower your taxes.
youtube
Some income is not subject to income tax. By earning more tax-free income, a taxpayer can lower their tax liability. You could do this by selling a primary home, investing in bonds, depositing money in a tuition plan for your child’s education, opening a health savings account, and taking advantage of certain employer benefits like health/life insurance, disability insurance, dependent care assistance, and educational assistance.
Contributions to a 401k retirement account can help lower your taxes by reducing taxable income. The pre-tax money is deposited directly into the 401k account and the growth is tax deferred.
youtube
Another easy way to lower your taxes is to pay into a tax-free health flexible spending account. Contributions made to a flexible spending account are not subject to employment or federal income taxes. If the employer participates, an employee can voluntarily elect to contribute a certain amount of money into the account at the beginning of the year. During the year the employee participates, the employer will periodically deduct a payment for the elected amount from the employee’s paycheck, but the employee can receive the maximum reimbursement at any time.
Tax deductions reduce taxable income. The amount saved in taxes depends on the taxpayer’s tax rate. A taxpayer can either take a standard deduction or can take itemized deductions for medical and dental costs, mortgage points, mortgage interest, property taxes, state income taxes, charitable contributions, and business expenses, among others.
Reduce Your Tax Rate
Because federal income tax rates vary, it’s possible to lower your taxes by reducing your tax rate. Tax rates range from 5% to 35%. The IRS assesses tax on income earned from work at an ordinary income rate of up to 35%. In contrast, a lower tax rate applies to income earned on stocks, bonds, mutual funds, and real estate investments. The rate depends on the taxpayer’s tax bracket and the holding period for the investment.
youtube
Shifting income to a child in a lower tax bracket can reduce your income taxes. This is also referred to as splitting income. Shifting income accomplishes two goals: it reduces tax liability and decreases a taxpayer’s adjusted gross income.
As opposed to a tax deduction, a tax credit can lower your taxes dollar for dollar. A tax credit will reduce the amount of taxes you must pay. The government uses tax credits to encourage taxpayers to engage in certain activities or to grant tax relief. The IRS gives the following types of credits: earned income credit, first-time homebuyer credit, child and dependent care credit, adoption credit, education credit, and retirement savings contributions credit. The IRS adds new tax credits every year.
Donating to a charitable organization can also lower your taxes. The IRS allows taxpayers to make itemized deductions on their tax return for gifts made to qualified charitable organizations. A taxpayer can deduct donations of money, stock, or noncash contributions and, in some cases, out-of-pocket expenses like transportation costs.
If you itemize deductions, deducting medical expenses can lower your taxes. The IRS defines medical expenses as costs incurred for diagnosis, treatment, cure, mitigation, or the prevention of a disease. The taxpayer can deduct medical and dental expenses that exceed 7.5% of their adjusted gross income. Qualified expenses include those for yourself, a spouse, or dependents. Regardless of when the taxpayer incurs the medical costs, the expenses are eligible for deduction in the year paid.
A taxpayer can reduce tax liability by benefiting from losses sustained on an investment. To qualify for the deduction, the taxpayer must have taxable gains and losses. The IRS allows taxpayers to use a loss to offset capital gains. If the loss exceeds gains, the taxpayer can deduct the loss against ordinary income. It is permissible to carry over a loss to later years if it exceeds the limit.
Free Consultation with a Tax Lawyer
When you need tax help, please call Ascent Law for your free consultation (801) 676-5506. We want to help you.
Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Recent Posts
Discrimination and the ADA
Domestic Partner
Injury Lawyer
Family Lawyer
Chapter 13 Bankruptcy
Annulments
0 notes
Text
How to Lower Your Taxes
Paying taxes, while a civic duty, isn’t always an enjoyable experience, mostly because of the complicated paperwork involved. However, that stack of papers could unlock considerable tax savings, with the proper planning and strategies. Here’s an introduction to some basic strategies that could help lower your taxes.
youtube
Some income is not subject to income tax. By earning more tax-free income, a taxpayer can lower their tax liability. You could do this by selling a primary home, investing in bonds, depositing money in a tuition plan for your child’s education, opening a health savings account, and taking advantage of certain employer benefits like health/life insurance, disability insurance, dependent care assistance, and educational assistance.
Contributions to a 401k retirement account can help lower your taxes by reducing taxable income. The pre-tax money is deposited directly into the 401k account and the growth is tax deferred.
youtube
Another easy way to lower your taxes is to pay into a tax-free health flexible spending account. Contributions made to a flexible spending account are not subject to employment or federal income taxes. If the employer participates, an employee can voluntarily elect to contribute a certain amount of money into the account at the beginning of the year. During the year the employee participates, the employer will periodically deduct a payment for the elected amount from the employee’s paycheck, but the employee can receive the maximum reimbursement at any time.
Tax deductions reduce taxable income. The amount saved in taxes depends on the taxpayer’s tax rate. A taxpayer can either take a standard deduction or can take itemized deductions for medical and dental costs, mortgage points, mortgage interest, property taxes, state income taxes, charitable contributions, and business expenses, among others.
Reduce Your Tax Rate
Because federal income tax rates vary, it’s possible to lower your taxes by reducing your tax rate. Tax rates range from 5% to 35%. The IRS assesses tax on income earned from work at an ordinary income rate of up to 35%. In contrast, a lower tax rate applies to income earned on stocks, bonds, mutual funds, and real estate investments. The rate depends on the taxpayer’s tax bracket and the holding period for the investment.
youtube
Shifting income to a child in a lower tax bracket can reduce your income taxes. This is also referred to as splitting income. Shifting income accomplishes two goals: it reduces tax liability and decreases a taxpayer’s adjusted gross income.
As opposed to a tax deduction, a tax credit can lower your taxes dollar for dollar. A tax credit will reduce the amount of taxes you must pay. The government uses tax credits to encourage taxpayers to engage in certain activities or to grant tax relief. The IRS gives the following types of credits: earned income credit, first-time homebuyer credit, child and dependent care credit, adoption credit, education credit, and retirement savings contributions credit. The IRS adds new tax credits every year.
Donating to a charitable organization can also lower your taxes. The IRS allows taxpayers to make itemized deductions on their tax return for gifts made to qualified charitable organizations. A taxpayer can deduct donations of money, stock, or noncash contributions and, in some cases, out-of-pocket expenses like transportation costs.
If you itemize deductions, deducting medical expenses can lower your taxes. The IRS defines medical expenses as costs incurred for diagnosis, treatment, cure, mitigation, or the prevention of a disease. The taxpayer can deduct medical and dental expenses that exceed 7.5% of their adjusted gross income. Qualified expenses include those for yourself, a spouse, or dependents. Regardless of when the taxpayer incurs the medical costs, the expenses are eligible for deduction in the year paid.
A taxpayer can reduce tax liability by benefiting from losses sustained on an investment. To qualify for the deduction, the taxpayer must have taxable gains and losses. The IRS allows taxpayers to use a loss to offset capital gains. If the loss exceeds gains, the taxpayer can deduct the loss against ordinary income. It is permissible to carry over a loss to later years if it exceeds the limit.
Free Consultation with a Tax Lawyer
When you need tax help, please call Ascent Law for your free consultation (801) 676-5506. We want to help you.
Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Recent Posts
Discrimination and the ADA
Domestic Partner
Injury Lawyer
Family Lawyer
Chapter 13 Bankruptcy
Annulments
via Michael Anderson https://www.ascentlawfirm.com/how-to-lower-your-taxes/
0 notes
Text
How to Lower Your Taxes
Paying taxes, while a civic duty, isn’t always an enjoyable experience, mostly because of the complicated paperwork involved. However, that stack of papers could unlock considerable tax savings, with the proper planning and strategies. Here’s an introduction to some basic strategies that could help lower your taxes.
youtube
Some income is not subject to income tax. By earning more tax-free income, a taxpayer can lower their tax liability. You could do this by selling a primary home, investing in bonds, depositing money in a tuition plan for your child’s education, opening a health savings account, and taking advantage of certain employer benefits like health/life insurance, disability insurance, dependent care assistance, and educational assistance.
Contributions to a 401k retirement account can help lower your taxes by reducing taxable income. The pre-tax money is deposited directly into the 401k account and the growth is tax deferred.
youtube
Another easy way to lower your taxes is to pay into a tax-free health flexible spending account. Contributions made to a flexible spending account are not subject to employment or federal income taxes. If the employer participates, an employee can voluntarily elect to contribute a certain amount of money into the account at the beginning of the year. During the year the employee participates, the employer will periodically deduct a payment for the elected amount from the employee’s paycheck, but the employee can receive the maximum reimbursement at any time.
Tax deductions reduce taxable income. The amount saved in taxes depends on the taxpayer’s tax rate. A taxpayer can either take a standard deduction or can take itemized deductions for medical and dental costs, mortgage points, mortgage interest, property taxes, state income taxes, charitable contributions, and business expenses, among others.
Reduce Your Tax Rate
Because federal income tax rates vary, it’s possible to lower your taxes by reducing your tax rate. Tax rates range from 5% to 35%. The IRS assesses tax on income earned from work at an ordinary income rate of up to 35%. In contrast, a lower tax rate applies to income earned on stocks, bonds, mutual funds, and real estate investments. The rate depends on the taxpayer’s tax bracket and the holding period for the investment.
youtube
Shifting income to a child in a lower tax bracket can reduce your income taxes. This is also referred to as splitting income. Shifting income accomplishes two goals: it reduces tax liability and decreases a taxpayer’s adjusted gross income.
As opposed to a tax deduction, a tax credit can lower your taxes dollar for dollar. A tax credit will reduce the amount of taxes you must pay. The government uses tax credits to encourage taxpayers to engage in certain activities or to grant tax relief. The IRS gives the following types of credits: earned income credit, first-time homebuyer credit, child and dependent care credit, adoption credit, education credit, and retirement savings contributions credit. The IRS adds new tax credits every year.
Donating to a charitable organization can also lower your taxes. The IRS allows taxpayers to make itemized deductions on their tax return for gifts made to qualified charitable organizations. A taxpayer can deduct donations of money, stock, or noncash contributions and, in some cases, out-of-pocket expenses like transportation costs.
If you itemize deductions, deducting medical expenses can lower your taxes. The IRS defines medical expenses as costs incurred for diagnosis, treatment, cure, mitigation, or the prevention of a disease. The taxpayer can deduct medical and dental expenses that exceed 7.5% of their adjusted gross income. Qualified expenses include those for yourself, a spouse, or dependents. Regardless of when the taxpayer incurs the medical costs, the expenses are eligible for deduction in the year paid.
A taxpayer can reduce tax liability by benefiting from losses sustained on an investment. To qualify for the deduction, the taxpayer must have taxable gains and losses. The IRS allows taxpayers to use a loss to offset capital gains. If the loss exceeds gains, the taxpayer can deduct the loss against ordinary income. It is permissible to carry over a loss to later years if it exceeds the limit.
Free Consultation with a Tax Lawyer
When you need tax help, please call Ascent Law for your free consultation (801) 676-5506. We want to help you.
Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
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Repost: https://jamesbalmforth12.tumblr.com/post/183049156406 James R. Balmforth http://jamesbalmforth12.tumblr.com/
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How to Lower Your Taxes
Paying taxes, while a civic duty, isn’t always an enjoyable experience, mostly because of the complicated paperwork involved. However, that stack of papers could unlock considerable tax savings, with the proper planning and strategies. Here’s an introduction to some basic strategies that could help lower your taxes.
youtube
Some income is not subject to income tax. By earning more tax-free income, a taxpayer can lower their tax liability. You could do this by selling a primary home, investing in bonds, depositing money in a tuition plan for your child’s education, opening a health savings account, and taking advantage of certain employer benefits like health/life insurance, disability insurance, dependent care assistance, and educational assistance.
Contributions to a 401k retirement account can help lower your taxes by reducing taxable income. The pre-tax money is deposited directly into the 401k account and the growth is tax deferred.
youtube
Another easy way to lower your taxes is to pay into a tax-free health flexible spending account. Contributions made to a flexible spending account are not subject to employment or federal income taxes. If the employer participates, an employee can voluntarily elect to contribute a certain amount of money into the account at the beginning of the year. During the year the employee participates, the employer will periodically deduct a payment for the elected amount from the employee’s paycheck, but the employee can receive the maximum reimbursement at any time.
Tax deductions reduce taxable income. The amount saved in taxes depends on the taxpayer’s tax rate. A taxpayer can either take a standard deduction or can take itemized deductions for medical and dental costs, mortgage points, mortgage interest, property taxes, state income taxes, charitable contributions, and business expenses, among others.
Reduce Your Tax Rate
Because federal income tax rates vary, it’s possible to lower your taxes by reducing your tax rate. Tax rates range from 5% to 35%. The IRS assesses tax on income earned from work at an ordinary income rate of up to 35%. In contrast, a lower tax rate applies to income earned on stocks, bonds, mutual funds, and real estate investments. The rate depends on the taxpayer’s tax bracket and the holding period for the investment.
youtube
Shifting income to a child in a lower tax bracket can reduce your income taxes. This is also referred to as splitting income. Shifting income accomplishes two goals: it reduces tax liability and decreases a taxpayer’s adjusted gross income.
As opposed to a tax deduction, a tax credit can lower your taxes dollar for dollar. A tax credit will reduce the amount of taxes you must pay. The government uses tax credits to encourage taxpayers to engage in certain activities or to grant tax relief. The IRS gives the following types of credits: earned income credit, first-time homebuyer credit, child and dependent care credit, adoption credit, education credit, and retirement savings contributions credit. The IRS adds new tax credits every year.
Donating to a charitable organization can also lower your taxes. The IRS allows taxpayers to make itemized deductions on their tax return for gifts made to qualified charitable organizations. A taxpayer can deduct donations of money, stock, or noncash contributions and, in some cases, out-of-pocket expenses like transportation costs.
If you itemize deductions, deducting medical expenses can lower your taxes. The IRS defines medical expenses as costs incurred for diagnosis, treatment, cure, mitigation, or the prevention of a disease. The taxpayer can deduct medical and dental expenses that exceed 7.5% of their adjusted gross income. Qualified expenses include those for yourself, a spouse, or dependents. Regardless of when the taxpayer incurs the medical costs, the expenses are eligible for deduction in the year paid.
A taxpayer can reduce tax liability by benefiting from losses sustained on an investment. To qualify for the deduction, the taxpayer must have taxable gains and losses. The IRS allows taxpayers to use a loss to offset capital gains. If the loss exceeds gains, the taxpayer can deduct the loss against ordinary income. It is permissible to carry over a loss to later years if it exceeds the limit.
Free Consultation with a Tax Lawyer
When you need tax help, please call Ascent Law for your free consultation (801) 676-5506. We want to help you.
Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Recent Posts
Discrimination and the ADA
Domestic Partner
Injury Lawyer
Family Lawyer
Chapter 13 Bankruptcy
Annulments
https://www.ascentlawfirm.com/how-to-lower-your-taxes/
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Text
How to Lower Your Taxes
Paying taxes, while a civic duty, isn’t always an enjoyable experience, mostly because of the complicated paperwork involved. However, that stack of papers could unlock considerable tax savings, with the proper planning and strategies. Here’s an introduction to some basic strategies that could help lower your taxes.
youtube
Some income is not subject to income tax. By earning more tax-free income, a taxpayer can lower their tax liability. You could do this by selling a primary home, investing in bonds, depositing money in a tuition plan for your child’s education, opening a health savings account, and taking advantage of certain employer benefits like health/life insurance, disability insurance, dependent care assistance, and educational assistance.
Contributions to a 401k retirement account can help lower your taxes by reducing taxable income. The pre-tax money is deposited directly into the 401k account and the growth is tax deferred.
youtube
Another easy way to lower your taxes is to pay into a tax-free health flexible spending account. Contributions made to a flexible spending account are not subject to employment or federal income taxes. If the employer participates, an employee can voluntarily elect to contribute a certain amount of money into the account at the beginning of the year. During the year the employee participates, the employer will periodically deduct a payment for the elected amount from the employee’s paycheck, but the employee can receive the maximum reimbursement at any time.
Tax deductions reduce taxable income. The amount saved in taxes depends on the taxpayer’s tax rate. A taxpayer can either take a standard deduction or can take itemized deductions for medical and dental costs, mortgage points, mortgage interest, property taxes, state income taxes, charitable contributions, and business expenses, among others.
Reduce Your Tax Rate
Because federal income tax rates vary, it’s possible to lower your taxes by reducing your tax rate. Tax rates range from 5% to 35%. The IRS assesses tax on income earned from work at an ordinary income rate of up to 35%. In contrast, a lower tax rate applies to income earned on stocks, bonds, mutual funds, and real estate investments. The rate depends on the taxpayer’s tax bracket and the holding period for the investment.
youtube
Shifting income to a child in a lower tax bracket can reduce your income taxes. This is also referred to as splitting income. Shifting income accomplishes two goals: it reduces tax liability and decreases a taxpayer’s adjusted gross income.
As opposed to a tax deduction, a tax credit can lower your taxes dollar for dollar. A tax credit will reduce the amount of taxes you must pay. The government uses tax credits to encourage taxpayers to engage in certain activities or to grant tax relief. The IRS gives the following types of credits: earned income credit, first-time homebuyer credit, child and dependent care credit, adoption credit, education credit, and retirement savings contributions credit. The IRS adds new tax credits every year.
Donating to a charitable organization can also lower your taxes. The IRS allows taxpayers to make itemized deductions on their tax return for gifts made to qualified charitable organizations. A taxpayer can deduct donations of money, stock, or noncash contributions and, in some cases, out-of-pocket expenses like transportation costs.
If you itemize deductions, deducting medical expenses can lower your taxes. The IRS defines medical expenses as costs incurred for diagnosis, treatment, cure, mitigation, or the prevention of a disease. The taxpayer can deduct medical and dental expenses that exceed 7.5% of their adjusted gross income. Qualified expenses include those for yourself, a spouse, or dependents. Regardless of when the taxpayer incurs the medical costs, the expenses are eligible for deduction in the year paid.
A taxpayer can reduce tax liability by benefiting from losses sustained on an investment. To qualify for the deduction, the taxpayer must have taxable gains and losses. The IRS allows taxpayers to use a loss to offset capital gains. If the loss exceeds gains, the taxpayer can deduct the loss against ordinary income. It is permissible to carry over a loss to later years if it exceeds the limit.
Free Consultation with a Tax Lawyer
When you need tax help, please call Ascent Law for your free consultation (801) 676-5506. We want to help you.
Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Recent Posts
Discrimination and the ADA
Domestic Partner
Injury Lawyer
Family Lawyer
Chapter 13 Bankruptcy
Annulments
0 notes
Text
How to Lower Your Taxes
Paying taxes, while a civic duty, isn’t always an enjoyable experience, mostly because of the complicated paperwork involved. However, that stack of papers could unlock considerable tax savings, with the proper planning and strategies. Here’s an introduction to some basic strategies that could help lower your taxes.
youtube
Some income is not subject to income tax. By earning more tax-free income, a taxpayer can lower their tax liability. You could do this by selling a primary home, investing in bonds, depositing money in a tuition plan for your child’s education, opening a health savings account, and taking advantage of certain employer benefits like health/life insurance, disability insurance, dependent care assistance, and educational assistance.
Contributions to a 401k retirement account can help lower your taxes by reducing taxable income. The pre-tax money is deposited directly into the 401k account and the growth is tax deferred.
youtube
Another easy way to lower your taxes is to pay into a tax-free health flexible spending account. Contributions made to a flexible spending account are not subject to employment or federal income taxes. If the employer participates, an employee can voluntarily elect to contribute a certain amount of money into the account at the beginning of the year. During the year the employee participates, the employer will periodically deduct a payment for the elected amount from the employee’s paycheck, but the employee can receive the maximum reimbursement at any time.
Tax deductions reduce taxable income. The amount saved in taxes depends on the taxpayer’s tax rate. A taxpayer can either take a standard deduction or can take itemized deductions for medical and dental costs, mortgage points, mortgage interest, property taxes, state income taxes, charitable contributions, and business expenses, among others.
Reduce Your Tax Rate
Because federal income tax rates vary, it’s possible to lower your taxes by reducing your tax rate. Tax rates range from 5% to 35%. The IRS assesses tax on income earned from work at an ordinary income rate of up to 35%. In contrast, a lower tax rate applies to income earned on stocks, bonds, mutual funds, and real estate investments. The rate depends on the taxpayer’s tax bracket and the holding period for the investment.
youtube
Shifting income to a child in a lower tax bracket can reduce your income taxes. This is also referred to as splitting income. Shifting income accomplishes two goals: it reduces tax liability and decreases a taxpayer’s adjusted gross income.
As opposed to a tax deduction, a tax credit can lower your taxes dollar for dollar. A tax credit will reduce the amount of taxes you must pay. The government uses tax credits to encourage taxpayers to engage in certain activities or to grant tax relief. The IRS gives the following types of credits: earned income credit, first-time homebuyer credit, child and dependent care credit, adoption credit, education credit, and retirement savings contributions credit. The IRS adds new tax credits every year.
Donating to a charitable organization can also lower your taxes. The IRS allows taxpayers to make itemized deductions on their tax return for gifts made to qualified charitable organizations. A taxpayer can deduct donations of money, stock, or noncash contributions and, in some cases, out-of-pocket expenses like transportation costs.
If you itemize deductions, deducting medical expenses can lower your taxes. The IRS defines medical expenses as costs incurred for diagnosis, treatment, cure, mitigation, or the prevention of a disease. The taxpayer can deduct medical and dental expenses that exceed 7.5% of their adjusted gross income. Qualified expenses include those for yourself, a spouse, or dependents. Regardless of when the taxpayer incurs the medical costs, the expenses are eligible for deduction in the year paid.
A taxpayer can reduce tax liability by benefiting from losses sustained on an investment. To qualify for the deduction, the taxpayer must have taxable gains and losses. The IRS allows taxpayers to use a loss to offset capital gains. If the loss exceeds gains, the taxpayer can deduct the loss against ordinary income. It is permissible to carry over a loss to later years if it exceeds the limit.
Free Consultation with a Tax Lawyer
When you need tax help, please call Ascent Law for your free consultation (801) 676-5506. We want to help you.
Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Recent Posts
Discrimination and the ADA
Domestic Partner
Injury Lawyer
Family Lawyer
Chapter 13 Bankruptcy
Annulments
from Michael Anderson https://www.ascentlawfirm.com/how-to-lower-your-taxes/ from Best Utah Attorneys https://bestutahattorneys.tumblr.com/post/183049146069
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Text
How to Lower Your Taxes
Paying taxes, while a civic duty, isn’t always an enjoyable experience, mostly because of the complicated paperwork involved. However, that stack of papers could unlock considerable tax savings, with the proper planning and strategies. Here’s an introduction to some basic strategies that could help lower your taxes.
youtube
Some income is not subject to income tax. By earning more tax-free income, a taxpayer can lower their tax liability. You could do this by selling a primary home, investing in bonds, depositing money in a tuition plan for your child’s education, opening a health savings account, and taking advantage of certain employer benefits like health/life insurance, disability insurance, dependent care assistance, and educational assistance.
Contributions to a 401k retirement account can help lower your taxes by reducing taxable income. The pre-tax money is deposited directly into the 401k account and the growth is tax deferred.
youtube
Another easy way to lower your taxes is to pay into a tax-free health flexible spending account. Contributions made to a flexible spending account are not subject to employment or federal income taxes. If the employer participates, an employee can voluntarily elect to contribute a certain amount of money into the account at the beginning of the year. During the year the employee participates, the employer will periodically deduct a payment for the elected amount from the employee’s paycheck, but the employee can receive the maximum reimbursement at any time.
Tax deductions reduce taxable income. The amount saved in taxes depends on the taxpayer’s tax rate. A taxpayer can either take a standard deduction or can take itemized deductions for medical and dental costs, mortgage points, mortgage interest, property taxes, state income taxes, charitable contributions, and business expenses, among others.
Reduce Your Tax Rate
Because federal income tax rates vary, it’s possible to lower your taxes by reducing your tax rate. Tax rates range from 5% to 35%. The IRS assesses tax on income earned from work at an ordinary income rate of up to 35%. In contrast, a lower tax rate applies to income earned on stocks, bonds, mutual funds, and real estate investments. The rate depends on the taxpayer’s tax bracket and the holding period for the investment.
youtube
Shifting income to a child in a lower tax bracket can reduce your income taxes. This is also referred to as splitting income. Shifting income accomplishes two goals: it reduces tax liability and decreases a taxpayer’s adjusted gross income.
As opposed to a tax deduction, a tax credit can lower your taxes dollar for dollar. A tax credit will reduce the amount of taxes you must pay. The government uses tax credits to encourage taxpayers to engage in certain activities or to grant tax relief. The IRS gives the following types of credits: earned income credit, first-time homebuyer credit, child and dependent care credit, adoption credit, education credit, and retirement savings contributions credit. The IRS adds new tax credits every year.
Donating to a charitable organization can also lower your taxes. The IRS allows taxpayers to make itemized deductions on their tax return for gifts made to qualified charitable organizations. A taxpayer can deduct donations of money, stock, or noncash contributions and, in some cases, out-of-pocket expenses like transportation costs.
If you itemize deductions, deducting medical expenses can lower your taxes. The IRS defines medical expenses as costs incurred for diagnosis, treatment, cure, mitigation, or the prevention of a disease. The taxpayer can deduct medical and dental expenses that exceed 7.5% of their adjusted gross income. Qualified expenses include those for yourself, a spouse, or dependents. Regardless of when the taxpayer incurs the medical costs, the expenses are eligible for deduction in the year paid.
A taxpayer can reduce tax liability by benefiting from losses sustained on an investment. To qualify for the deduction, the taxpayer must have taxable gains and losses. The IRS allows taxpayers to use a loss to offset capital gains. If the loss exceeds gains, the taxpayer can deduct the loss against ordinary income. It is permissible to carry over a loss to later years if it exceeds the limit.
Free Consultation with a Tax Lawyer
When you need tax help, please call Ascent Law for your free consultation (801) 676-5506. We want to help you.
Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Recent Posts
Discrimination and the ADA
Domestic Partner
Injury Lawyer
Family Lawyer
Chapter 13 Bankruptcy
Annulments
from Michael Anderson https://www.ascentlawfirm.com/how-to-lower-your-taxes/ from Child Custody Lawyer Utah https://childcustodylawyerutah.tumblr.com/post/183049216945
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Text
How to Lower Your Taxes
Paying taxes, while a civic duty, isn’t always an enjoyable experience, mostly because of the complicated paperwork involved. However, that stack of papers could unlock considerable tax savings, with the proper planning and strategies. Here’s an introduction to some basic strategies that could help lower your taxes.
youtube
Some income is not subject to income tax. By earning more tax-free income, a taxpayer can lower their tax liability. You could do this by selling a primary home, investing in bonds, depositing money in a tuition plan for your child’s education, opening a health savings account, and taking advantage of certain employer benefits like health/life insurance, disability insurance, dependent care assistance, and educational assistance.
Contributions to a 401k retirement account can help lower your taxes by reducing taxable income. The pre-tax money is deposited directly into the 401k account and the growth is tax deferred.
youtube
Another easy way to lower your taxes is to pay into a tax-free health flexible spending account. Contributions made to a flexible spending account are not subject to employment or federal income taxes. If the employer participates, an employee can voluntarily elect to contribute a certain amount of money into the account at the beginning of the year. During the year the employee participates, the employer will periodically deduct a payment for the elected amount from the employee’s paycheck, but the employee can receive the maximum reimbursement at any time.
Tax deductions reduce taxable income. The amount saved in taxes depends on the taxpayer’s tax rate. A taxpayer can either take a standard deduction or can take itemized deductions for medical and dental costs, mortgage points, mortgage interest, property taxes, state income taxes, charitable contributions, and business expenses, among others.
Reduce Your Tax Rate
Because federal income tax rates vary, it’s possible to lower your taxes by reducing your tax rate. Tax rates range from 5% to 35%. The IRS assesses tax on income earned from work at an ordinary income rate of up to 35%. In contrast, a lower tax rate applies to income earned on stocks, bonds, mutual funds, and real estate investments. The rate depends on the taxpayer’s tax bracket and the holding period for the investment.
youtube
Shifting income to a child in a lower tax bracket can reduce your income taxes. This is also referred to as splitting income. Shifting income accomplishes two goals: it reduces tax liability and decreases a taxpayer’s adjusted gross income.
As opposed to a tax deduction, a tax credit can lower your taxes dollar for dollar. A tax credit will reduce the amount of taxes you must pay. The government uses tax credits to encourage taxpayers to engage in certain activities or to grant tax relief. The IRS gives the following types of credits: earned income credit, first-time homebuyer credit, child and dependent care credit, adoption credit, education credit, and retirement savings contributions credit. The IRS adds new tax credits every year.
Donating to a charitable organization can also lower your taxes. The IRS allows taxpayers to make itemized deductions on their tax return for gifts made to qualified charitable organizations. A taxpayer can deduct donations of money, stock, or noncash contributions and, in some cases, out-of-pocket expenses like transportation costs.
If you itemize deductions, deducting medical expenses can lower your taxes. The IRS defines medical expenses as costs incurred for diagnosis, treatment, cure, mitigation, or the prevention of a disease. The taxpayer can deduct medical and dental expenses that exceed 7.5% of their adjusted gross income. Qualified expenses include those for yourself, a spouse, or dependents. Regardless of when the taxpayer incurs the medical costs, the expenses are eligible for deduction in the year paid.
A taxpayer can reduce tax liability by benefiting from losses sustained on an investment. To qualify for the deduction, the taxpayer must have taxable gains and losses. The IRS allows taxpayers to use a loss to offset capital gains. If the loss exceeds gains, the taxpayer can deduct the loss against ordinary income. It is permissible to carry over a loss to later years if it exceeds the limit.
Free Consultation with a Tax Lawyer
When you need tax help, please call Ascent Law for your free consultation (801) 676-5506. We want to help you.
Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Recent Posts
Discrimination and the ADA
Domestic Partner
Injury Lawyer
Family Lawyer
Chapter 13 Bankruptcy
Annulments
from Michael Anderson https://www.ascentlawfirm.com/how-to-lower-your-taxes/ from Divorce Attorney Salt Lake City https://divorceattorney1.tumblr.com/post/183049184331
0 notes
Text
How to Lower Your Taxes
Paying taxes, while a civic duty, isn’t always an enjoyable experience, mostly because of the complicated paperwork involved. However, that stack of papers could unlock considerable tax savings, with the proper planning and strategies. Here’s an introduction to some basic strategies that could help lower your taxes.
youtube
Some income is not subject to income tax. By earning more tax-free income, a taxpayer can lower their tax liability. You could do this by selling a primary home, investing in bonds, depositing money in a tuition plan for your child’s education, opening a health savings account, and taking advantage of certain employer benefits like health/life insurance, disability insurance, dependent care assistance, and educational assistance.
Contributions to a 401k retirement account can help lower your taxes by reducing taxable income. The pre-tax money is deposited directly into the 401k account and the growth is tax deferred.
youtube
Another easy way to lower your taxes is to pay into a tax-free health flexible spending account. Contributions made to a flexible spending account are not subject to employment or federal income taxes. If the employer participates, an employee can voluntarily elect to contribute a certain amount of money into the account at the beginning of the year. During the year the employee participates, the employer will periodically deduct a payment for the elected amount from the employee’s paycheck, but the employee can receive the maximum reimbursement at any time.
Tax deductions reduce taxable income. The amount saved in taxes depends on the taxpayer’s tax rate. A taxpayer can either take a standard deduction or can take itemized deductions for medical and dental costs, mortgage points, mortgage interest, property taxes, state income taxes, charitable contributions, and business expenses, among others.
Reduce Your Tax Rate
Because federal income tax rates vary, it’s possible to lower your taxes by reducing your tax rate. Tax rates range from 5% to 35%. The IRS assesses tax on income earned from work at an ordinary income rate of up to 35%. In contrast, a lower tax rate applies to income earned on stocks, bonds, mutual funds, and real estate investments. The rate depends on the taxpayer’s tax bracket and the holding period for the investment.
youtube
Shifting income to a child in a lower tax bracket can reduce your income taxes. This is also referred to as splitting income. Shifting income accomplishes two goals: it reduces tax liability and decreases a taxpayer’s adjusted gross income.
As opposed to a tax deduction, a tax credit can lower your taxes dollar for dollar. A tax credit will reduce the amount of taxes you must pay. The government uses tax credits to encourage taxpayers to engage in certain activities or to grant tax relief. The IRS gives the following types of credits: earned income credit, first-time homebuyer credit, child and dependent care credit, adoption credit, education credit, and retirement savings contributions credit. The IRS adds new tax credits every year.
Donating to a charitable organization can also lower your taxes. The IRS allows taxpayers to make itemized deductions on their tax return for gifts made to qualified charitable organizations. A taxpayer can deduct donations of money, stock, or noncash contributions and, in some cases, out-of-pocket expenses like transportation costs.
If you itemize deductions, deducting medical expenses can lower your taxes. The IRS defines medical expenses as costs incurred for diagnosis, treatment, cure, mitigation, or the prevention of a disease. The taxpayer can deduct medical and dental expenses that exceed 7.5% of their adjusted gross income. Qualified expenses include those for yourself, a spouse, or dependents. Regardless of when the taxpayer incurs the medical costs, the expenses are eligible for deduction in the year paid.
A taxpayer can reduce tax liability by benefiting from losses sustained on an investment. To qualify for the deduction, the taxpayer must have taxable gains and losses. The IRS allows taxpayers to use a loss to offset capital gains. If the loss exceeds gains, the taxpayer can deduct the loss against ordinary income. It is permissible to carry over a loss to later years if it exceeds the limit.
Free Consultation with a Tax Lawyer
When you need tax help, please call Ascent Law for your free consultation (801) 676-5506. We want to help you.
Ascent Law LLC 8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Recent Posts
Discrimination and the ADA
Domestic Partner
Injury Lawyer
Family Lawyer
Chapter 13 Bankruptcy
Annulments
from Michael Anderson https://www.ascentlawfirm.com/how-to-lower-your-taxes/ from Jeremy Eveland https://jeremyeveland12.tumblr.com/post/183049230209
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