Through a monthly payment plan, a client can hire a tax law firm for a down payment. Accordingly, many clients with tax debt benefit from monthly payment plans. While flat fees make the total cost of hiring an attorney more transparent, they may not be an affordable option when 100% of the fee is due upfront. With flat fees, my clients know exactly how much their case will cost. To make tax resolution more affordable for my clients, I offer flat fees instead of hourly billing. Read my post on flat fees vs hourly billing to learn more. While hourly billing is the traditional fee structure used by attorneys, it can leave some clients with astronomically high attorney fees each month. When the retainer fee is nearly depleted, the client must “replenish” that security deposit so the attorney can keep working on the case.
For instance, if the attorney’s hourly rate is $300 and they spend 10 hours that month working on the case, they will bill the client $3,000 and deduct that amount from the retainer fee. In turn, the attorney will bill for every minute he or she spends working on the client’s case according to their hourly rate and deduct that amount from the retainer fee. In hourly billing, a client pays a security deposit called a retainer fee which is held in a client trust account. With flat fees, the client knows exactly how much their case will cost, whereas with hourly billing the total cost of hiring an attorney is unclear. Hourly Billingįlat fees are usually in the client’s interest. For instance, a client who owes the IRS $25,000 may pay a flat fee of only $2,500 for an offer in compromise. With flat fees, the client pays a specific dollar amount to receive a particular legal service. Whether you’re a business owner or a regular taxpayer, Jin Kim can usually take your case on a flat fee basis.
Her monthly payment plans help clients start the tax resolution process while her flat fees make the total cost of hiring a tax attorney transparent and straightforward. To help clients obtain tax relief when they can least afford it, tax attorney Jin Kim offers affordable monthly payment plans and flat fees. The Law Office of Jin Kim understands that some clients need tax relief but can’t afford a large retainer fee.
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