What are the Difference between a Corporate Lawyer and a Tax Lawyer?

The term ‘lawyer’, to the layman, usually means someone who knows something about the law, and uses his or her knowledge to defend a criminal and keep him out of jail. However, what people usually do not realise is that there are various types of lawyers, and they perform different functions.

When you are looking to hire a lawyer for your company, you will be posed with the question of whether you need a corporate lawyer or a tax lawyer. However, you need to understand what these two types of lawyers do before you decide which one is perfect for your specific legal needs. Both types of lawyers are hired by corporate firms but their roles are quite different.

Corporate Lawyers

Corporate lawyers, who fall under the branch of litigation lawyers, basically work more at a desk than a courtroom. This means that they do the seemingly mundane yet equally integral and sometimes more strenuous job of filing lawsuits, gathering evidence, conducting legal research, meeting with clients and filing and arguing motions. They are also quite thorough on precedents of the case, and meet with the parties involved as a go-between to settle the case. Corporate lawyers work for large businesses, or sometimes even smaller companies. Some even function as independent contractors or in law firms. The focus of a corporate lawyer is to negotiate with the various parties involved and steer them towards an out-of-court settlement rather than battle it out in a courtroom. This process of negotiation may be challenging and may go on for a long period of time, but corporate lawyers are trained professionals in handling such long drawn-out cases. Your business in Perth may need a corporate or a commercial lawyer in Perth for dealing with any special cases, or even giving advice on the legal implications of the finer aspects of your business.

Tax Lawyers

A tax lawyer is one who deals with more of the financial aspect of the running of a business. Your tax lawyer in Perth would provide tax planning support, or help your organisation make financial decisions keeping in mind the possible tax benefits or penalties that those decisions could result in, in the future. Specifically, tax lawyers or attorneys offer a more specialised legal guidance on tax planning, and this encompasses matters regarding trusts, estate planning, investments, business and personal expenses, payroll, business structure and self-employment. Your Perth tax lawyer may not typically prepare tax returns, but they might provide legal advice on how to fill out specific aspects of a return.

In the case of a tax-related issue that has to be defended in court, tax attorneys are trained to handle the legal challenges and can represent and defend their clients in the court. These situations could include one where the clients are bringing a case against the IRS or the IRS itself is investigating them for possible tax crimes.

Choosing a lawyer for your business is a decision that has long-term implications and needs to be done with utmost care, considering all the pros and cons. Therefore, it is best to contact your Perth tax lawyer or a commercial lawyer in order to get all the relevant details before you take the leap.

Recommended For You

About the Author: Paul Petersen