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Who is a Tax Consultant? What Do They Do?

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Ryan-Cpa

Most of the entrepreneurs, small business owners, or the leaders in the large enterprises feel the need of the tax consultant when it is time to file their tax returns. However, a tax consultant does more. A tax professional goes above and beyond to ensure that your tax liabilities are minimized, you can capitalize on your tax deductions, and manage all your tax situations well. A tax consultant in Montreal has more expertise than a standard tax preparer. He can help you with tax planning, charitable giving, inheritances issues, and other complex tax needs.


With their thorough knowledge and training tax laws, they are in the position to offer your expertise on any topic related to taxation. Fees of these professionals shall vary depending upon the scope of work and the skill of the tax consultant.


What does a tax consultant do?


Tax consultants are professionals who are experts in tax law and finance-related counseling. They offer pieces of advice on income tax returns and a range of other financial matters, such as estate, trust, and retirement taxes. They also stay informed on the most recent tax requirements and law changes, both on the state and the federal levels.


Know that corporate taxation laws are more intricate than the rules surrounding individual income. As a result, many tax consultants specialize in business tax services. It involves minimizing a company’s tax liability, ensuring the company is taking advantage of all tax benefits and more.


Let us tell you about the services provided by a tax consultant in Montreal.


When you hire a tax consultant, he will offer you a variety of services to his clients from preparing your tax return to help you navigate through the complexities of personal or corporate taxation. The most popular services that are offered to clients are:


  • Preparing annual tax return.
  • Looking for deductions to lower your tax burden.
  • Minimizing your tax liability in retirement.
  • Helping manage your capital gains.
  • Dealing with taxes on rental property income, and more.


Tax consultants look forward to work for financial consulting firms, public accounting firms, or government agencies. Alternatively, some may operate completely independently. Often, these services are also available online, though these services can also be availed through an office. Clients of these consultants range from individuals and families to corporations and organizations.


How much does this consultation cost? 


As we stated earlier, tax consultant fees vary widely, because the fees is charged depending upon several key factors. Location also plays a major role here; prices will be higher where the cost of living is the highest.

For more information about tax consultant in Montreal, reach out to us.

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