If you are a tax-savvy individual who enjoys working with numbers, consider a career as a tax consultant. This professional advises clients on a wide range of tax-related matters, including filing taxes, consulting on tax planning, representing clients before the IRS and more. Tax consultants typically have deep understanding of accounting and tax law principles. They also work closely with businesses to ensure they are complying with regulatory requirements and minimizing tax liability.
The most common qualifications for becoming a tax consultant include a bachelor’s degree in accounting, business, finance or a related field. Most possess extensive professional experience and are certified as CPAs, or have enrolled agent (EA) certification. Those with more advanced degrees and expertise in specific areas, such as taxation of real estate, are often recognized by industry groups as tax experts. In addition to a formal education, many tax professionals also continue their professional training through professional associations and other programs.
Whether you are looking for a new tax consultant or need to review your current tax situation, finding the right one is important. To help you choose the best tax consultant, you can seek out recommendations from friends and family or check online reviews. Additionally, you can ask for references and credentials. Finally, it’s a good idea to get an estimate for the cost of services before hiring someone.
As a tax consultant, you will assist clients with both individual and corporate income tax issues. Your duties will include preparing and filing tax returns, reviewing and advising clients on tax-saving strategies, representing clients before the IRS during audits, assisting with payroll and other taxes for small businesses and more. You will need to stay informed of all changes in federal and state tax laws.
If you have the appropriate skills, a career as a tax consultant can be lucrative and rewarding. You can find employment at a variety of places, including independent tax consulting firms, financial service firms and government agencies. You can even pursue a self-employment career by setting up your own business.
While basic tax preparation requires some mathematical skills, the identification and estimation of tax savings involves a more complex understanding of accounting concepts. As a result, you should have strong math skills to excel in this role. Additionally, attention to detail is essential as you will be examining detailed documents and analyzing financial information for each client.
Unlike tax preparers, who generally have a minimal educational background, tax consultants are required to hold a degree in the field of accounting. Most have prior professional experience in the financial industry, and some even complete a graduate degree in taxation. In addition to a bachelor’s degree, many have obtained licensure as CPAs or EAs, while others pursue additional credentials and courses. Some will specialize in certain fields, such as retirement, international or corporate taxation, while others are generalists. Some even provide online advice and services for individuals and corporations. Some may charge an hourly fee, while others offer flat rates for specific services. Steuerberater Hattingen