A tax consultant advises clients on tax obligations and payment options, and may also provide ongoing advice on changes in rules and regulations. They may work for an accounting firm or independently, and provide services such as payroll preparation, accounting, and investment planning. A bachelor’s degree in accounting or business is typically required, and continuing education is necessary due to changes in regulations.
A tax consultant provides advice and guidance to clients on local and regional tax obligations, guidelines and payment options. She is often hired by a taxpayer to calculate their financial obligations and file required documents, but may also be employed in an advisory capacity only. A person in this position could be a paid employee of an accounting or tax preparation firm or work as an independent, independent contractor.
People who use tax advisors include a wide range of consumers. Because tax advisors are generally knowledgeable about personal and business tax laws, they are typically qualified to distribute information to individuals, families, and partnerships. Small businesses, corporations and family trusts can also seek advice from a tax advisor.
In addition to advising on current tax liabilities, a tax advisor generally provides ongoing advice to clients to keep them informed of changes in rules and regulations that may affect their tax obligations. She may suggest business restructuring, investments, or exemption requests to positively affect future tax debts. If it is necessary for a consumer to communicate with organizations that impose taxes, a tax consultant can do so on behalf of their client.
In addition to working in a consulting capacity, a person in this position typically educates himself in tax law analysis in order to be able to serve a broader client base. The more she knows about relevant legislation and revenue stipulations, the greater the value to her business and her customers. Developing a relationship with people within the taxing authority is generally considered an advantage when dealing with clients.
Other services typically provided by a tax consultant include payroll preparation, general accounting, and investment planning. Structuring and managing family trusts and estate planning are other commonly offered specialties. The range of services normally offered depends on the size of the company and the areas of specialization of the tax consultant.
Achieving success as a tax consultant typically requires exemplary research and communication skills. It needs to understand the diverse needs of its customers so that it can provide them with the best advice and service. She must also have a keen business sense and experience in the latest accounting and tax preparation software programs.
This position typically requires a bachelor’s degree in accounting, auditing or business. Some companies may require a master’s degree in business administration or accounting. Due to constant changes in regulations in the field of tax reporting and exemptions, continuing education is a regular part of a successful career in tax consulting. Experience in accounting or tax preparation can be an advantage for aspiring candidates.
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