Real World Application: How DW Tax Services Provides Legal Tax Assistance
At DW Tax Services, we don’t just promise to be with clients every step of the way – we deliver. Since being established in 2020 by David Wright, a tax attorney with over 15 years of relevant experience, DW Tax Services has provided tailored, effective solutions to individuals and businesses burdened with complex tax matters. The case studies in this section offer insight into our team’s commitment to keeping clients informed and knowing their best options, and our relentless drive to secure the best possible results. Read about how we help turn tax headaches into steps toward financial success and security.
Case Study 1: Navigating a High-Stakes IRS Audit for a Local Businessman
Background: Small business owner Jennifer L., based in Jacksonville, recently received an unexpected IRS audit notice involving the filing of her consulting firm’s previous three years of tax returns. Concerned about penalties and how this would potentially disrupt her business, DW Tax Services advised her.
Solution: Our team quickly jumped in and did a complete review of Jennifer’s books to ensure items were coded and recorded accurately. We provided ample documentation, represented Jennifer in all dealings with the IRS, and used our current knowledge of audit protocol to help get clarification on items with the potential for ambiguity. All of this helped us negotiate an 80 percent reduction of Jennifer’s liability, including the elimination of all penalties.
Outcome: The audit was resolved to Jennifer’s satisfaction within four months. Not only did we save her from a damaging financial penalty, we were able to provide her with priceless knowledge involving recordkeeping and compliance. DW Tax Services continues to provide Jennifer with tax planning advice going forward, and her business is now always audit-ready.
Case Study 2: Effective Tax Strategy for a Growing Technology Startup
InnovateX, a rapidly growing tech start-up, had operations in several states and needed guidance in structuring their entity framework in a tax efficient manner and avoiding additional tax risk. The company’s leadership wanted a resource fluent in the technical and legal nuances of multi-state taxes.
DW Tax Services brought together a multi-disciplinary team of tax lawyers and CPAs to advise InnovateX on their current and future operations, revenue generating activities, and expansion plans. We advised the company on a tax efficient entity restructuring and also guided them through state-specific compliance obligations. Our tax team also established quarterly tax review processes and provided internal education directly to the company’s accounting department.
InnovateX reduced their annual tax liability by 22% and avoided costly compliance errors while they expanded their operations into new states. With our guidance, the company improved their comfort level with their aggressive growth strategy and laid down a strong foundation going forward for the next round of investment.
Case Study 3: Estate and Gift Tax Planning for a Family Business
Our estate tax attorneys worked closely with the Ramirezes to develop a multi-phase succession and gifting plan. This plan combined the use of a family trust, annual gifting to heirs, and the application of valuation discounts on minority interests. Our firm handled the legal drafting as well as management and coordination with the family’s other financial professionals to ensure proper implementation.
The Ramirezes transferred majority ownership with minimal tax impact and saved over $400,000 in estate and gift taxes. Their business continues as a family-based company and they call upon DW Tax Services for ongoing legal and tax advice.
Case Study 4: Navigating International Tax Compliance for a Dual-Resident Executive
Background: Dual citizen Michael S. split his time between the US and the UK and had complicated filing requirements. His global income was at risk of double taxation, and he was subject to complicated foreign account reporting requirements. When he found us through referrals, Michael needed experienced legal counsel.
Solution: DW Tax Services performed a comprehensive analysis of Michael’s residency, source of income, and benefits under a US-UK tax treaty. We helped him with the timely filing of all IRS forms (FBARs & FATCA), election for foreign tax credits, and restructuring his compensation to avail of treaty relief. His education was a driving focus throughout our representation, as we guided Michael so he’d have a comprehensive understanding of the particulars of his situation and could avoid making the same mistakes going forward.
Outcome: Michael was in full compliance with the US and UK taxing authorities, avoided penalties and double taxation. He now can sleep easy at night and annually retains our team to consult with him on cross-border tax planning and compliance needs.
Case Study 5: Defending a Family Against the IRS’s Collection Efforts
The Harrisons – a middle class family living in Jacksonville – became financially strapped due to unexpected medical bills. Wage garnishments and property liens followed. Constantly deluged by IRS collection notices and troubled about the fate of their home, they needed help.
Upon engagement, DW Tax Services immediately stopped IRS collection efforts by filing a timely request for a collection due process hearing. In addition, we negotiated an installment agreement and filed a penalty abatement based on reasonable cause. In order to prevent further tax complications, financial counseling was provided to the family.
The Harrisons were able to keep their home and pay off their debt with the IRS over an extended period of time. The family now receives preventive tax planning on a continual basis, providing them also with peace of mind.
Why Our Customers Come Back To Us at DW Tax Services
Each matter highlights the values that distinguish DW Tax Services: individualized attention; legal knowledge; and a focus on client empowerment. Our multidisciplinary team – led by founder David Wright – undertakes each assignment with clarity and an emphasis on relationships that go beyond the bottom line. Whether we represent clients before the IRS, develop intricate tax strategies, or enable ongoing learning, we pride ourselves in driving individuals and businesses towards long-term success.
The firm’s familiarity with the most recent tax laws and services giving priority to our clients have established DW Tax Services as dependable advisors in legal tax solutions.
Begin Your Success Story With DW Tax Services
Do you have a tax issue or need pro-active planning for your financial future? If so, DW Tax Services has your back. Our tax attorneys, CPAs, and strategic advisors offer client-centric solutions from a holistic point of view to meet the needs of individual and business clients alike, as well as international taxpayers.
Give DW Tax Services a call to schedule a confidential consultation and learn more about how our dedicated experience and expertise can work for you:
| Hours: | Mon-Fri: 9am-5pm |
| Address: | 501 W Bay St Ste 99, Jacksonville FL 32202 |
| Telephone: | (904) 753-4815 |
| E-mail: | [email protected] |
| Website: | https://dwtaxservices.com |
Let our team help you get back on track with your taxes, with peace of mind. If you’re ready to take the next step, Contact DW Tax Services today.