Tax consultants are financial advisors who assist their clients with tax-related issues. They can help save lots of money for their clients including penalties and fees that otherwise would be paid to the government.
The most significant role of a tax consultant is to file the income tax return for the client. If filed late, the client is liable to pay penalties that can be more burdensome than the actual taxes. A consultant takes care of this and ensures that the returns are filed accurately and timely.
A tax consultant’s role is to identify, analyze, and solve problems in a way that realizes a return on investment for the client.
Tax consultants advise on business expansion plans, ways to deter or defer taxes, and can give recommendations as to how to alter income strategies to retain more preferable financial results. Many assume tax consultants can only be helpful during an audit as they are experts in dealing with those types of issues, but they are also versed in, financial trends, philanthropic options, and passive income strategies that help their clients retain wealth rather than planning to give it away. Tax consultants are the ‘right hands’ of many affluent professionals and multinational companies.
When seeking to hire a tax consultant pick one who has a proven track record of successes, has a broad range of domestic and international tax knowledge, and has experience with high net worth clients. I can be reached at JeffreyLevine.Solutions to discuss your tax matters upon request.