Taxation law is a branch of law in which specialists are called tax attorneys. These lawyers have deep understanding of rules and policies that apply to tax processes and liability as related to estate transfer, material and intellectual property acquisition, business transactions, and income among others. Their clients can be individuals or business entities, and they usually work as consultants. However, they may be hired for legal representation if a case involved the court. When there is need for qualified tax attorneys Phoenix, AZ should be visited. Phoenix is home to several highly qualified lawyers that can be hired at any time.
Completing and undergraduate degree and getting admitted into law school is the first step to becoming a tax attorney. It is best for aspirants of taxation law to study economics, accounting, business, finance, or a related discipline during undergraduate studies. Admission into law schools requires passing the LSAT first. Because of service coordination, students are now able to register and check their LSAT results online as well as track the status of their applications at the law school.
It takes three or four years to compete law school. Taxation law is closely related to Certified Public Accountants (CPAs), which has led to many lawyers pursuing both courses at the same time. Universities have come together to offer these courses jointly to students concurrently.
Students take foundational and general courses during their first year at law school. Such courses include contract, tort, constitutional, civil, and property law. Specialization begins at second to third year and involves taking specific courses like income and business taxation. Students earn a Juris Doctor (JD) after graduation. Some pursue master of laws or other degrees afterward to further their education.
Licensure follows after one completes studies in law school. Every state requires lawyers who practice in it to pass the bar exam. The bar exam covers a variety of law topics and takes about six hours. Some states administer an ethics exam to their lawyers before they are given a license. Administration of the bar exam is done by The National Conference of Bar Examiners.
Tax lawyers represent their clients in matters involving taxation. They provide advice to clients to help them understand the law on taxation and to remain in compliance. They also monitor legislative developments so as to advise clients about impact of new taxation rules. They also help in managing personal wealth, amendment of trusts and wills, negotiate for clients in audit hearings, and oversee distribution of wealth among beneficiaries among other duties.
Taxation law has several other subspecialties under it, and one may choose any of them to specialize in. Some common subspecialties include executive compensation, general corporate tax, and exempt organizations municipal finance, tax litigation, and international taxation planning. Specializing in more than one subspecialty is common among practitioners.
Lawyers earn differently depending on certain factors. The factors include size of the law firms they work for and the number of years of experience they have. Clients are usually willing to pay more for experience. It is also their preference to work with experienced lawyers.
Completing and undergraduate degree and getting admitted into law school is the first step to becoming a tax attorney. It is best for aspirants of taxation law to study economics, accounting, business, finance, or a related discipline during undergraduate studies. Admission into law schools requires passing the LSAT first. Because of service coordination, students are now able to register and check their LSAT results online as well as track the status of their applications at the law school.
It takes three or four years to compete law school. Taxation law is closely related to Certified Public Accountants (CPAs), which has led to many lawyers pursuing both courses at the same time. Universities have come together to offer these courses jointly to students concurrently.
Students take foundational and general courses during their first year at law school. Such courses include contract, tort, constitutional, civil, and property law. Specialization begins at second to third year and involves taking specific courses like income and business taxation. Students earn a Juris Doctor (JD) after graduation. Some pursue master of laws or other degrees afterward to further their education.
Licensure follows after one completes studies in law school. Every state requires lawyers who practice in it to pass the bar exam. The bar exam covers a variety of law topics and takes about six hours. Some states administer an ethics exam to their lawyers before they are given a license. Administration of the bar exam is done by The National Conference of Bar Examiners.
Tax lawyers represent their clients in matters involving taxation. They provide advice to clients to help them understand the law on taxation and to remain in compliance. They also monitor legislative developments so as to advise clients about impact of new taxation rules. They also help in managing personal wealth, amendment of trusts and wills, negotiate for clients in audit hearings, and oversee distribution of wealth among beneficiaries among other duties.
Taxation law has several other subspecialties under it, and one may choose any of them to specialize in. Some common subspecialties include executive compensation, general corporate tax, and exempt organizations municipal finance, tax litigation, and international taxation planning. Specializing in more than one subspecialty is common among practitioners.
Lawyers earn differently depending on certain factors. The factors include size of the law firms they work for and the number of years of experience they have. Clients are usually willing to pay more for experience. It is also their preference to work with experienced lawyers.
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