A tax consultant is an expert in advising on tax law, tax planning, as well as tax compliance. He serves not only businesses, but individuals as well, by staying up to date on any tax law amendments. Furthermore, his job also involves positioning taxpayers for short and long-term optimization of costs.

Tax consultants don’t only make sure that tax returns are well prepared, but they also work quite closely with clients throughout the year to make sure that the client’s tax liability is successfully minimized, where possible. Even though hiring a good tax consultant can be quite expensive for many people, this choice will definitely save you a great amount of money and headaches down the line.

For a better understanding of the services that a tax consultant offers and for knowing how to find a professional for solving all your tax problems, continue to read this article.

What does a tax consultant actually do?

First of all, it is important to know that tax consultants know all about the state as well as federal regulations that individuals and businesses alike must abide by, when it is time to file their taxes. However, not all of them are well-prepared for such a job and do not have the necessary experience for offering high-quality services That is why you need to do your analysis properly when choosing to work with one.

When you hire a tax consultant, you will be advised about your tax filling options. There are also other aspects they cover. Let’s take a close look at them:

  • Tax consultants collect, organize, and also prepare tax documents and returns;
  • They evaluate the client’s financial and also the legal circumstances to determine tax liabilities;
  • Their job also involves assisting their clients who encounter various tax issues during and after a very important life transition, such as death of a spouse, birth of a child, marriage, or divorce;
  • Good tax consultants complete tax forms that many tax preparers or regular accountants are unfamiliar with;
  • These professionals may also represent a client in dealing with tax collection agencies.

Tax consultants are not great only for individuals but for businesses as well. One of the most important things that any entrepreneur can do for his company is to hire a professional consultant in taxes. By doing so, he may literally protect and even save his business.

Whereas many companies only hire a tax consultant once or twice a year, other entrepreneurs have regular meetings with these professionals in order to discuss goals as well as approach, which is without a doubt an excellent thing to do for the entire business. Tax consultants are passionate about tax laws and also about the client’s future.

Read also: Taxation of foreign pension in Romania – detailed explanations

How to find a good tax consultant?

Many people think that it is very difficult to find a good tax consultant, but the truth is that, if you follow the right steps, you will manage to make a good decision without any problem whatsoever. Here are the aspects you need to seriously take into account:

1. Look for a certified tax consultant

Always keep in mind that the best consultants in tax matters are always the certified ones (such as certified tax consultants or certified public accountants – official name may differ from one country to another). Business owners should always use one. And that’s because a professional like this is the most knowledgeable as well as passionate when it comes to reducing taxes.

There is also a second option, and that would be the enrolled agent, but nor for big companies. Serious investors should never hire enrolled agents because they do not have the necessary experience for offering high-quality services.

2. Search for a certified one, with excellent tax education and experience

Education and experience are without a doubt necessary when we are talking about tax consultants. Therefore, if you are looking for a professional, then in order to make a great choice you need to take into account this aspect. Someone who knows the laws very well and who has several years of experience will successfully solve your problems.

3. Collaborate with a consultant who asks relevant questions

When you meet a consultant who asks lots of questions, then you can be sure that you have met the right person. Those who ask many questions are very interested in helping you, and they are also very knowledgeable in their area of expertise. On the other hand, in case you ask most of the questions during the initial interview, then this must be a red flag.                                       

A professional will ask lots of questions about your actual situation, financial purposes, as well as about your long-term goals. Don’t forget that a serious diagnosis by a professional will actually lead to major tax savings.

Hiring a tax consultant is definitely a very important decision, whether you are an individual or a business owner. Therefore, you must make sure you find an excellent tax consultant who knows exactly what the tax law means and also how to save you millions over a lifetime.

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