- February 28, 2020
- Posted by: asal
- Category: tax attorney
Attorneys have a difficult job. It includes more working hours, more stress, and less flexibility. However, not every form of attorney works that way. Tax attorney
live study tax law. Also, tax lawyers have the most satisfying job as compared to other practice areas. In this article, we will discuss why.
Here are the top reasons why you should consider doing a specialty in tax law:
- Greater stability
There is a saying about death and taxes that there is nothing more certain than them. So, needless to say, taxes are going to outlast everyone. And, as long as there are taxes, there will be a need for tax relief and tax attorneys. The demand for tax law expertise is constant, especially in cities like Los Angeles. So, if you become a Los Angeles tax attorney, your services will be relevant for years to come. In fact, you will be busier than the attorneys working in transactional work like litigation.
While the tax law is not completely immune to the economy, it remains more stable, even when the country is facing economic downturns. Moreover, tax reform is a hot political topic that just increases the demand for tax attorneys. Also, when you look at the emotional sense, tax law can be even stable. As a tax attorney, you won’t have to deal with emotionally fraught family laws. So, if you want to avoid the dramatic side of the law, tax law could be the perfect choice for you.
- A lot of job options
Everyone has to pay taxes. This puts everyone under the purview of tax law. So, tax attorneys can work in every employment sector there is in any state that you want. You can become one of the top Los Angeles tax attorneys. They can work with state and federal government, as well as accounting and law firms. They can be hired by businesses as in-house counsel. So, it is safe to assume that the job prospects for a tax attorney are pretty high.
- Better work-life balance
According to tax attorneys themselves, they work fewer and consistent hours as compared to attorneys in other legal specialties. However, this can change during the tax season which is from February to mid-April. So, as a tax lawyer, it won’t be too hard for you to take vacations, except during the tax season.
- Good salary
Tax attorneys can earn strong, consistent income. According to Payscale, the average annual income for a tax lawyer working in the United States is $101,504. However, your earnings will be impacted by where you are practicing. For example, if you are working in an urban area or at a large company, your salary will be driven up significantly. And yes, your salary won’t be as high as other lawyers in other fields like litigation. But, when you consider other factors like stability, flexible hours, and work-life balance, tax law seems a pretty good choice.
- Make a difference
Through tax law, you will be able to make a real difference. Tax law is more than helping people save money on tax returns. Taxes are complicated and most people find them confusing. With your guidance, they will be able to keep their finances impact or businesses afloat. Also, if you are working for a charitable organization, you can support their mission by taking care of the administrative side of the things. There are some organizations like the VITA (Volunteer Income Tax Assistance) program where tax attorneys can volunteer their services to taxpayers who need them. Finally, for making changes at the big level, you can work with the government entities like the IRS, Treasury Department, etc.
- Work is fascinating
Even though it might sound boring at first, but the fact that tax law has a big impact on the economy of the US, the work of a tax attorney can get very exciting. Even small changes affect everyone. As a tax attorney, you will be standing on the front lines. Your job could be the interpretation of new legislations or application of the long-standing laws. Basically, it includes everything that affects your client.
- Lots of variety
Yes, there is a lot more variety in the tax code. From individuals to small businesses to multinationals, each one in a different earning spectrum, tax laws can differ. It will depend on the type of client and their financial situation. For example, you can work with an NGO and ensure that they are complying with the state and federal tax law. This is done so that the organization can maintain its tax-exempt status. If you are working as an in-house counsel in a company, you can help in selecting the retirement plan for the employees. They also work as a litigator. They represent their clients before agencies like the State Department of Revenue or the IRS and in court. Also, they work for the government to represent their interests.
On a typical workday of the tax attorney, they will be doing research, working and negotiating with other lawyers. They might also be involved in a hearing or trial. On some days you will be working on your own and others with a team. So, this will help in getting a variety in the work environment as well.
- Further specializing
You can specialize further in tax law. This will help in developing more marketable and in-demand expertise. Here are some of the niches you can focus on:
- Audits and Appeals
- State and Local tax
- Corporate tax
- International tax law
- Tax-exempt organizations
- Mergers and acquisitions
- Employee benefits
- Real estate
- Estate planning and many more.
- Several opportunities to grow
When you work in tax law, you will have to stay on top of every new regulation. Tax law is challenging. So, if you enjoy puzzles, problem-solving, being an expert, are naturally curious, and a policy wonk, tax law is the one for you. With continuing your education to earn an LLM in Taxation, you can make your name as a tax attorney. Even though the tax law is in high demand, getting the credential will improve your job prospects.
Now, if you feel like the tax law is the right field for you, you can get a degree and find a job at a reputed tax resolution service. Platinum Tax Defenders in one such tax resolution service that has been helping taxpayers with tax relief since 2011. We have the top tax attorneys that work with a wide range of clientele. So, if you have any queries about tax-related issues, book an appointment with the Platinum Tax Defenders.