Tax Consulting

 

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As tax consultants, we serve businesses and individuals alike by staying current on new tax law and positioning taxpayers for short and long term tax optimization.

A tax consultant typically expands on the role of tax preparer. While tax consultants prepare tax returns, we also often work closely with clients throughout the year to ensure client tax liability is minimized. Preparing your own income tax return can be a task that leaves you with more questions than answers. According to a study released by the Canada Revenue Agency (CRA) last year, most taxpayers (77% of taxpayers) believe they benefited from using a professional tax preparer.

Whether we like it or not, today's tax laws are so complicated that filing a relatively simple return can be confusing. It is just too easy to overlook deductions and credits to which you are entitled. Even if you use a computer software program there's no substitute for the assistance of an experienced tax professional.

More than tax consultants

What is a tax consultant?

Tax consultants provide their clients with financial and tax-related advice. They educate their clients on tax options, including how to legally lower tax liability or how to compute taxes based on their investments. Tax consultants might prepare and complete client tax returns and assist clients in finding the right deductions, credits and adjustments based on their financial situation. Consultants must stay up-to-date on the latest federal and state tax requirements, consult tax law handbooks and look for bulletins regarding common and atypical tax procedures.

Tax advisers and consultants typically need a bachelor’s degree in economics, finance, business or tax law. Additional coursework in estate planning, investments and risk management might be beneficial. If consultants prepare tax returns, they become a registered Tax Return Preparer with the CRA

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accountant

What does an accountant do?

The primary task of accountants, which extends to all the others, is to prepare and examine financial records. They make sure that records are accurate and that taxes are paid properly and on time. Accountants and auditors perform overviews of the financial operations of a business in order to help it run efficiently.

The primary task of accountants, which extends to all the others, is to prepare and examine financial records. They make sure that records are accurate and that taxes are paid properly and on time. Accountants and auditors perform overviews of the financial operations of a business in order to help it run efficiently.

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What does a tax preparer do?

tax preparer is a professional that is qualified to calculate, file and sign income tax returns on behalf of individuals and businesses. They can also represent the taxpayer during CRA examinations of tax returns.

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What does a tax lawyer do?

Tax lawyers handle a variety of tax-related duties for individuals and corporations including:

Navigating complex tax codes and laws

Structuring and documenting business entities

Overseeing business tax planning to legally minimize tax burdens

Advising clients on estate, tax, and financial planning

Handling disputes before CRA (assist with audits, tax appeals, tax collection, penalties)