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Rainer
420,003
Caroline Gerardo
Licensed in 20 states - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

My CPA can whip up a P and L in 30 seconds, while a tax attorney doesn't know how to use Quickbooks. 

A tax attorney can help you strategize LLC vs S Corp and all the loophole advantages.

I would rather have a tax attorney with me at an audit but his hourly bill amount is higher. 

Both licensed, both educated, both generally smart. CPA could be an expert witness but not represent you in court. 

 

May 18, 2022 01:31 PM
Ambassador
3,349,554
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Caroline Gerardo nailed this one.  She took the words right out of my head! 

May 18, 2022 01:53 PM
Rainmaker
1,056,432
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

An  Enrolled Agent can represent you in court, and is not an attorney, so I would say the answer to your question is 'a law license'.

May 18, 2022 12:32 PM
Rainmaker
2,784,716
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

A good question here. All I know? Decades ago, I had the good fortune to find a CPA/ATT and you get everything anyone would want with this combo 

May 18, 2022 02:55 PM
Rainmaker
5,240,021
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Caroline Gerardo nailed it but Candice A. Donofrio brings up a good point. I would prefer the attorney as many of the good ones have previous experience with the IRS.

May 19, 2022 04:37 AM
Rainmaker
906,347
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
NC Real Estate Transition & Relocation 919-602-848

Carolina Gerardo has a great answer that pretty much sums it up.

May 19, 2022 04:23 AM
Rainmaker
5,113,121
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I think Caroline Gerardo nailed it. Depending on individual situations, there's room for both as they do focus on different aspect of taxation. 

May 18, 2022 02:14 PM
Rainmaker
2,400,425
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

I am glad you asked Fred Griffin Florida Real Estate and I am glad Caroline Gerardo answered. I still use a CPA even though I am retired and now I can see what to expect of them.

May 18, 2022 02:10 PM
Rainmaker
1,201,612
Doug Dawes
Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA - Topsfield, MA
Your Personal Realtor®

I do believe you have received your answer. 

May 19, 2022 06:05 AM
Rainmaker
556,536
Greg Cremia
Shore Realty of the Outer Banks - Nags Head, NC

A lot of attorneys do tax and estate work, this does not make them tax attorneys. A cpa will help you hold onto your money better than an attorney. If you have a cpa and end up in court you can hire a tax attorney, if you have a tax attorney and end up in court you probably will want to get a different tax attorney because this one landed you in court.

May 19, 2022 05:28 AM
Ambassador
6,418,665
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

It may be a good idea to have a good one of each of them on your team.

May 19, 2022 04:00 AM
Rainmaker
5,877,905
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I wouldn't know, just have a CPA.

May 19, 2022 06:27 AM
Rainer
430,382
J.R. Schloemer
Kentucky Select Properties - Louisville, KY

I am going to say the tax attorney is more involved in the legal aspects of a financial nature. While the CPA is more involved with the financial accounting (or auditing & tax). With the question you posted to Caroline Gerardo's response, I would agree with the CPA you contacted, and you need the advice of counsel. 

May 21, 2022 01:46 PM
Rainmaker
1,571,765
Gary Frimann, CRS, GRI, SRES
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
REALTOR and Broker

CG nailed it.  

May 19, 2022 12:44 PM