A tax consultant is a professional who offers comprehensive and strategic advice on tax-related matters. These professionals work with both individuals and organizations to minimize potential tax liability and ensure compliance with state and federal laws. They often have bachelor’s degrees in accounting, finance, business tax management or related fields. Some people with less formal education and years of experience in other tax related roles can become a tax consultant by gaining licensure as Certified Public Accountants (CPAs).
During a consultation, prospective clients should ask for referrals from other business owners, financial advisors or attorneys they trust. These can help them find a qualified and experienced consultant, according to Wood. He also recommends finding out if the person has any special certifications or licenses such as an enrolled agent (EA) or Certified Public Accountant (CPA). These credentials allow the person to represent taxpayers before the Internal Revenue Service for tax-related issues including audits, collections and appeals.
Another important factor is observing the person’s communication skills when they are meeting with prospects in-person or via remote meetings. It’s essential that the individual is able to explain complicated tax issues in simple terms.
In addition, he or she should keep up with the latest changes to tax law by attending seminars and reading journals. Many large corporations, financial institutions and insurance agencies offer opportunities for tax consultant roles. They may be employed full-time or on a freelance basis. Individuals who want to work as a freelancer can check job boards and the websites of professional bodies to see what’s available in their area of expertise. Steuerberater