Tax Law in San Antonio, TX

Tax law refers to the regulations governing the calculating, filing, and paying of taxes. When handling tax law cases, attorneys may manage taxes at various levels, such as local, state, and federal. The practice of this type of law involves understanding, defending, and resolving issues related to payment or non-payment.

If you hire a qualified , Texas professional to handle your business or personal taxes, you may feel protected from disputes. However, even a misplaced comma or added zero can cause the IRS to believe you owe more than you do. In some instances, accountants might also take deliberate actions that result in legal and financial repercussions.

The City of San Antonio levies a sales tax rate of 8.25% on all goods and services in the city. The taxes are comprised of:

  • 6.25% Texas State Sales Tax
  • 1.25% San Antonio Sales Tax
  • 0.75% Special Taxes

Tax Law Topics to Understand

If you find yourself facing , Texas taxation issues, understanding tax law and how it works can help. Most Americans have only basic knowledge of how the tax systems work, and with good reason. They are complex. Small business owners need to understand tax law and how it impacts their business. Here are some essential tax law topics to get you started.

IRS Audits

An IRS audit is a review of an experienced San Antonio, Texas individual’s or an organization’s finances and accounts to ensure accuracy. The audit may also uncover discrepancies business owners were not aware existed.

These are just a few of the things the IRS looks for when conducting an audit:

  • Does your lifestyle match your income?
  • Are you passing off personal expenses as business expenses?
  • Are you overstating any of your business expenses?
  • Did you fail to report any business income or did you inflate that income?
  • Do your payroll taxes match that of your employees?
  • If your business handles a lot of cash,  are you diverting any of this into your own pocket?

If you are about to have your business audited, consider hiring a qualified San Antonio tax law attorney. They can help you to navigate the complex process ahead and offer advice as issues arise.

Tax Evasion

Tax evasion refers to any activity an individual or business in , Texas engages in to reduce or avoid their tax liabilities. There are two types of tax evasion: evasion of assessment and evasion of payment.

Evasion of assessment means the taxpayer performed an action with the goal of defeating the assessment of a tax. The under-reporting of taxes is a common example of this. Evasion of payment means that you avoid paying the IRS by hiding money or assets that should become taxed. Here are some examples of tax evasion:

  • Keeping a double set of books
  • Overstating deductions
  • Destroying financial records
  • Concealing sources of income
  • Filing a false return
  • Making false invoices
  • Holding property in another person’s name to avoid taxation

If you are found guilty of tax evasion in San Antonio, Texas you can face hefty fines, prison time, or both.

Income Tax and Fraud

Income tax fraud is the willful attempt to evade or defraud the IRS and San Antonio tax laws. Tax fraud occurs when an individual or business does any of the following:

  • Prepares and files a false tax return
  • Willfully fails to pay taxes
  • Intentionally fails to file an income tax return
  • Intentionally fails to report income received
  • Makes fraudulent or false claims on the tax return

The Texas Comptroller states that a 5% penalty is assessed to any individual who is late in paying their income tax. If the individual persists and the time stretches to over 30 days without payment, the comptroller can legally raise the penalty to 10%.

When Would You Need an Experienced San Antonio, Texas Tax Law Attorney?

Facing Legal Issues Regarding Taxes

If you’re under investigation from the IRS or planning a lawsuit against, you will need a qualified , Texas attorney who practices tax law. To illustrate, counsel can help collect the information you need and create a viable defense.

When Starting a Business

There’s more to starting a business in , Texas than selling products or services. You also need to determine the business type and structure. This status, in turn, determines how the business and your earnings get taxed. Choosing the wrong business structure can cost you.

Bexar County provides all businesses in San Antonio with tax permits. These permits allow businesses to legally operate in the city. Still, the absence of corporate income taxes and privilege taxes can make San Antonio attractive to businesses. However, businesses must still pay taxes on gross receipts in San Antonio.

If You Have a Taxable Estate

If your estate is worth more than $11.58 million, or $23.16 million if you’re married, your estate might get taxed up to 40% for surpassing that threshold. No one wants a huge portion of their estate going to the IRS instead of their heirs. This is why wealthy people involve tax lawyers in their estate planning process.

Texas Law Help confirms that there are no local or state estate taxes or inheritance taxes levied against residents of San Antonio. However, you may still have to pay federal estate taxes. In 2022, the federal estate tax threshold has risen to $12.06 million.

Work with an Experienced Tax Law Lawyer In San Antonio, Texas

Facing issues related to tax law can feel overwhelming. No one wants to go head-to-head with the IRS. Experienced , Texas tax law lawyers have the expertise you need. From conducting audits to defending you in court.  We can even help you connect with an attorney across Texas state lines.

Submit a request online or call us today at (866) 345-6784 to get in touch with an experienced lawyer in your area!

How It All Works

Call us or answer the questions on this site. Your category, location, and additional information will help us connect you to a legal professional and we’ll send you the results instantly.

Which Areas of Law?

We have attorneys in over 20 legal categories to choose from.

How Much Does This Cost?

We don’t charge you to be connected. Some legal categories require upfront fees while others do not. The legal professional will determine this with you before you commit to anything.

Secured & Trusted

technolawyer