Tax advisor is one of the most important types of financial experts with good knowledge and advanced training on tax laws. Companies take help of tax advisors to find out the ways to reduce the burden of all types of taxes while remaining acquiescent with law in general and even complex financial conditions. Tax advisors include tax attorneys, Certified Public Accounts and financial advisors. The laws of tax are changing from time to time and tax consultants are needed to keep track of all accounting records. It is important to keep tax professionals to understand all the tax laws since any error in filing tax can be investigated by government officials. The tax consultants are subjected to intense and extensive testing and training so as to ensure that they are acquainted with the federal and state laws. This indicates that they can comprehensively handle taxes. Tax consultants are need while starting up a business since during early days a lot of wrote offs of the equipment bought can happen. In such cases it is important to have a tax consultant who can take care of the write offs. They have to advise on employee incentive schemes like share ownership trusts, share options, creation of employee benefit trusts and tax efficient employee benefits. They have to help individuals and businesses create strategies to deal with tax and prepare them for future decision making. They have to advise on property transactions like acquisitions of foreign property,. Research Paper, Finance and Accounting.
ReferenceCollege of Business Administration, “Why Major in Accounting?”College of Business Administration, Accessed 08 March, 2014, https://www.csulb.edu/colleges/cba/accountancy/major/.
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