WIM Episode 16: Allison Soares & Lauren Suarez

Ms. Soares is the COO and Tax Partner at Vanst Law. This modern law firm allows attorneys to practice where they want, when they want, and earn more money doing it. Vanst operates virtually, which means clients are served more efficiently, at less cost, and with more flexibility. Vanst's approach drastically cuts down the overhead costs normally spent on office space, paper files, and administration: cost savings that can be passed on to the client through lower billable rates.

As a tax attorney, Ms. Soares resolves personal, small business, and corporate tax problems with the IRS and California state tax authorities. She has represented hundreds of clients before the Internal Revenue Services (IRS), Franchise Tax Board (FTB), Employment Development Department (EDD), and California Department of Tax and Fee Administration (CDTFA). Mѕ. Sоаrеѕ іѕ also аn adjunct рrоfеѕѕоr аt Sаn Diego Stаtе Unіvеrѕіtу. Shе wаѕ nаmеd Bеѕt оf the Bаr by thе San Diego Buѕіnеѕѕ Journal in 2015, 2016 and 2017. She was also named a Top Lawyer by the San Diego Magazine for 2018 and 2019.

Episode Takeaways:

·      Lauren’s definition of money: it’s a double-edged sword of freedom and burden (especially in the tax realm - the more money you make, the more it’s taxed).

·      Their main tip: always disclose your assets – if you have off shore assets that you pay that country’s taxes, you won’t need to pay them in the US, but you do need to disclose.

·      When in doubt about your taxes (if you’re in CA), contact the State of California first.