As an Individual . . .  Annual income tax planning, in and of itself, presents a number of questions: What can you do to maximize your income potential? Does the IRS owe you a refund?

Payroll Tax

As an Entrepreneur . . .  Business owners face a variety of obstacles in mastering legal, tax, financial, and accounting concepts. The importance of decisions involving these areas cannot be overemphasized:

New business owners confront numerous questions: How should you establish your business? Should you incorporate? How do you raise capital? How should you establish your accounting system?

Independent contractors face these same problems, plus bear the additional risk of being summarily categorized as an "employee" by the IRS for tax purposes. What steps can you take to avoid this characterization? What expenses can you deduct? What records do you need to maintain to substantiate your deductions? How often do you have to pay your taxes?

Multi-state operations based in Georgia: Is a portion of your income derived from sales in other states? Are all operations based in Georgia? Is your income derived from sales of tangible personal property? Did you allocate all of your sales revenue to the State of Georgia?

Tax Planning

A Complicated Process . . .  Dealing with tax, financial, and legal issues is a complicated, confusing, and often intimidating process. Planning wisely to avoid complications, and understanding your rights if you do encounter a problem are both important considerations to keep in mind to ensure that you maximize the utilization of your resources and minimize your liabilities.

Whether you are an entrepreneur, an employee, or a retired individual, periodic tax, financial, and legal planning is essential to maximize your current income and to minimize the wealth transfer taxes that your estate may someday be subjected to.

Estate Tax

Estate planning, will and trust preparation, living will preparation, durable power of attorney, and durable power of attorney for health care: What is the difference between a will and an estate plan? At what point should you consider the tax consequences of your estate plan? Is a will even necessary? How does your health care planning, through the use of a living will, or a durable power of attorney for health care, affect your financial situation? Have you planned comprehensively for the unexpected?

IRS Dispute Resolution

ADKINS LEGAL SERVICES can assist you in resolving your outstanding Federal tax liabilities; income tax liabilities; payroll tax liabilities; etc. The Firm can also help you resolve your state tax liabilities. Please call the Office, for a consultation. (The hourly rate is $165)