Tax advisors collect information from clients, such as income and expenses, to calculate taxes owed. Once computed, the tax consultant files a return with the appropriate regulatory body. Filing returns are: -
Tax consultants represent clients during audits to ensure the tax return is accurate to minimize tax payments. By guiding the process, they can reduce the time and money invested by the organization, along with the overall tax liability.
These accounting specialists advise clients on how to minimize tax liability. This guidance may cover available deductions or types of income to report.
A tax consultant may develop and recommend strategies to reduce taxable income, take advantage of tax breaks, or defer taxes to a later date.