A tax advisor is a financial expert with advanced training and knowledge of tax accounting and tax law. The services of a tax advisor are usually retained in order to minimize taxes payable while remaining compliant with the law in complicated financial situations.
A tax advisor can help you minimize your tax liability, capitalize on tax deductions and manage your tax situation. With more expertise than standard tax preparers, tax consultants can help with tax planning, inheritance issues, charitable giving and other complex tax needs. Often, these advisors have training in tax law or accounting. Fees vary, depending on the scope of work and the skill and experience of the tax advisor. If you need further help with your taxes, investments or long-term financial plan, a financial advisor would be helpful.
Tax advisors offer a variety of services. These can include:
- Preparing your tax return
- Looking for deductions to lower your tax burden
- Minimizing your tax liability in retirement
- Dealing with taxes on rental property income
- Helping manage your capital gains taxes
- Sorting through the tax implications of life events, like marriages, divorces, deaths and births
