The Tax Blog: The Layman’s Next Best Friend
A very vital role of blogs is that they now serve as critical sources of information and a place where individual and often vital knowledge is shared and exchanged on a plethora of topics. When it comes to the field of tax law, there isn’t any exception to this rule.
Given how complicated the tax system can often be, there has been the launch of countless legal informational blogs by tax attorneys and other tax professionals whose sole aim is the provision of useful information to the lay man who would otherwise be lost without such information.
These blogs are useful in providing case studies, summary of previous cases, informational articles, latest happenings in the tax world, a medium to express one’s opinion and personal experience for others to learn from, and many other things that has to do with tax, and other related legal issues. Readers of these blog are often allowed to comment on whatever they read or even give a differing opinion on something that was written about in the blog.
The lowly blog has definitely secured its place as the ultimate resting place for every imaginable information on tax laws. However, one caveat that must always be given is this: be very careful as to which website or blog you get your information from, for not all websites or blogs are created equal.
Some of the all-time epic articles that have been written on the subject of tax include one that argued if a Taxpayer Representative was duty-bound to prevent their client from disclosing incriminating information that could land them in trouble. It was a blog post that talked about a recent IRS’ change in terms of practice that could make it possible for CPAs and other Tax Agents or professionals to be sued for their failure to prevent their clients from submitting incorrect tax information. This same article then went on to talk about issues faced by tax attorneys, and equally came up with simple, practical remedies to ensure that non-tax attorneys are constantly protected.
Yet any all-time great article was one titled: “Cover Your Assets! It was a brief blog post that gave a brief overview on the entire Asset Protection topic. It hinged on the importance of protecting your assets and added both non-tax and tax tips on how to prevent oneself from any legal traps when trying to design an asset protection plan. If you are someone with a lot of wealth, there’s no doubt you would need protection for it and that’s exactly what the author of the article had in mind when he or she wrote it.
Note however, that while it is generally a good idea to first read up as much information as you possible can about any tax related issue or question you may have, the ultimate and best advice, and the step to take after all of that, is to consult and speak to a tax attorney.