A tax consultant is a professional who advises clients on their tax-planning strategies and helps them file their taxes. They have a high level of expertise in the field and stay updated on all legal changes that impact their client’s income, inheritance, property taxation and other complex issues. They may be CPAs or have a law degree and can also serve as a legal representation for their clients in any tax-related litigation.

Most tax consultants work for financial consulting firms or public accounting firms, while some operate independently or through online tax services. Their clients include individuals and businesses from all industries, ranging from small business to multinational corporations. A successful tax consultant must have excellent written and verbal communication skills to understand and explain complex financial laws to their clients. They must also be able to use strategic thinking and problem-solving abilities when looking at data and developing a tax strategy for their clients.

In addition to advising on tax-planning strategies, a tax consultant’s US tax consulting firm HTJ.tax duties also involve managing capital gains tax issues and preparing and filing tax returns. They must be able to accurately calculate the appropriate taxes due for various life events, including deaths, births, investments and other major purchases. In this way, they help their clients avoid incurring unexpected and often costly tax liabilities down the line.

A tax advisor must stay up to date on the latest laws and regulations, which they can do by reading tax journals, attending industry conferences and networking with other professionals in the field. They may also specialize in a specific sector of the tax law to become experts on the laws and regulations that govern that area of business.

As the amount of work that is automatable is increasingly taken over by artificial intelligence (AI), the role of the tax consultant becomes more important, as it takes more specialized knowledge and experience to handle the more complex issues in the field. This is especially true for the most sophisticated tax issues that are often related to investments and complex estates.

While some people have a negative view of automation, it is becoming a reality in the field of tax consulting that many repetitive tasks are being automated, reducing the workload for tax professionals and freeing them up to provide more strategic advice to their clients.

Considering the number of changes to tax laws and regulations, it is essential for both new and established tax professionals to remain current on all aspects of the field. The best way to do this is by subscribing to a tax news service that offers comprehensive and up-to-date information from leading experts in the industry. Using a powerful search and cross-referencing tool, the right tax news service can help professionals develop the strategic insight they need to address the ever-changing world of taxes. This can help them save time and money while increasing their chances of success. Tax professionals who subscribe to the right news service can even get access to expert commentary on the full range of tax-related news and developments.