Tax Obligations- Crucial Role of a Tax Advisor

Monday, November 6, 2017, 6:00 PM | Leave Comment

Tax advisors specialize in tax law as well as planning and compliance. Their services are available for both individuals and businesses. They stay updated on new laws and help to position taxpayers for tax optimisation on a short and long-term basis.

Tax advisors usually expand on the role of preparing tax returns and often work with clients during the year to make sure there is minimal tax liability.

Tax advisors are expected to be effective in verbal and written communication with the ability to explain tax strategies and law in accessible and ways for their clients to comprehend.

Tax advisors serve at finance consulting firms, law firms and public accounting firms. They may work independently within their own tax consultation and preparation businesses.

  • Professional Duties and Responsibilities

    Tax advisors in various settings are required to perform a number of duties. They carry out tax law research, strategise with their clients to reduce tax liability and communicate with clients regarding tax issues.

    They also prepare tax returns, are involved in estate planning and ensure clients are compliant with tax obligations.

  • Effective Communication

    One of the key aspects of the job is to produce written content. Tax consultants convey the findings of their research including tax law changes that provide opportunities for different tax strategies.

    Since tax consultants may be hired by clients who are dealing with similar issues, it is essential for them to be able to draft concise and well-written letters to share information effectively to various clients.

  • Specialities

    Tax advisors are experts in a range of areas that include businesses, estates, engineering, sales tax and several others. A chartered tax advisor is skilful in various tax planning strategies to meet the needs of their clients.

    They may be proficient in maximising on tax credits and deductions, deferring taxes, managing losses and gains on capital assets and taking advantage of tax laws that boost the economy.

    • Advisors that specialise in estate planning help their clients to minimize taxes for heirs. They can accomplish this through different strategies.

    • Business tax advisors deal with business entities and focus on strategising to reduce income taxes that are owed by businesses and their shareholders.

      Consultants are aware of what business structures constitute and can establish closely held businesses for the purpose of eliminating double taxation at individual and business levels after profits have been passed on to the owners.

    • Sales or use tax advisors are essential for business taxpayers who discover that certain services are products are not taxable. Tax advisors ensure compliance and accuracy in filing tax returns.


Tax consultants use the knowledge they have regarding tax legislation to offer consultancy and advisory services to clients and ensure taxes are paid efficiently and clients may benefit from possible tax exemptions and advantages.

Tax advisors need to keep up with dynamic tax laws and give simple explanations of complicated legislation to their clients. Corporate tax advice is aimed at business clients to ensure they do not pay unnecessary taxes.

Personal tax advice is ideal for individual clients, including those that have large assets.

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