A tax advisor Hattingen is a financial professional who provides guidance to clients on strategies to minimize taxes payable and remain compliant with the law in complicated tax related scenarios. They may work as accountants, attorneys, enrolled agents or financial advisors and are typically required to keep up to date on the latest in tax accounting, financial regulations and laws.
Tax advisors can help their clients optimize various income tax scenarios and prepare and file taxes for both individuals and businesses. They also assist with other financial-related counseling such as investment advice, estate planning and charitable giving. They are often more well-versed than standard tax preparers and have extensive knowledge in complex financial situations including maximizing tax credits, deductions, IRA and retirement planning and more.
In addition to preparing tax returns, they also advise on opportunities that can be taken throughout the year to reduce future taxes like a startup equity compensation plan, buying and selling real estate or deferring capital gains. They will model different exercise scenarios for employee stock options or calculate the impact of selling an asset on an individual’s alternative minimum tax (AMT). Tax advisors are available year-round and can save business owners a significant amount of time and money.
The best tax advisors have strong analytical and problem-solving skills to identify opportunities for their clients. They are also able to clearly communicate information and explanations in a way that makes it easy for clients to understand. In order to succeed as a tax advisor, it is beneficial to have previous experience in the field such as working as an accountant, auditor or financial assistant. Steuerberater Hattingen