5 Tips to Find a Money-Saving Tax Advisor

True, nothing is more exhilarating than finding a legal way to pay fewer taxes! And that is why one of the most significant tasks a startup or a businessman must take care of is finding a tax advisor that is not able just to tend your filings and receivables, but also to save you money.

Sadly, the majority of firms contact their tax advisors no more than twice a year, when income filings deadlines are fast approaching. Skilled tax advisors, however, ask their clients to meet more often, at regular intervals, to plan a specific strategy, set and evaluate their annual goals and decide on their tax approached. Skilled tax advisors want more than the usual for their clients. They want to see their clients grow. And such tax advisors are invaluable and, unfortunately, hard to find.

Still, they are out there. And here are 5 great tips to spot them!

1. Check for CPA Passion instead of “Mass Production”!First of all, you need to consider only CPA tax advisors – that is “Certified Public Accountants.” These professionals combine accurate and updated knowledge and are typically passionate about their services – especially when it comes to cutting on taxes.

   Thus, instead of opting for an enrolled agent or “mass production” accounting firms check for a passionate and skilled CPA.

2. Tax Education & Experience in your IndustryNaturally, a tax advisor’s education is a critical factor and can tell you a lot about his skills and diligence – especially their certificate grades. It would also be great if this particular advisor has previous experience in working for companies in your industry.
3. Seek Creative Thinking The majority of tax advisors have adopted a certain way of thinking, a certain mentality of doing things, which usually ends up in your paying more than less as the years pass. It would be best, therefore, to seek a tax advisor with more creative (yet always legal) approaches. Be cautious with tax advisors that give you straight answers on how to deal things, without first asking for some background information about your business. The tax advisor you need takes nothing for granted and devotes plenty of time in laying down a tax strategy tailored to your needs and goals and capable of availing steady and long-term tax savings.
4. Rejoice if He/ She Asks Questions!As already mentioned, if you catch yourself making all the questions at your first meeting and receiving instant answers, better steer clear from this agency. Only in-depth knowledge can lead to consistent tax savings.
5. See it for What It Is – an InvestmentLongstanding gains demand expert tax advice on a regular basis, and such gains can eventually amount to thousands or even millions of Euros. Hence, hiring a skilled and seasoned tax advisor is a serious and very significant investment – and that is the way everyone should see it.

Summing It Up

Enjoying the services and experience of a skilled tax advisor will prove crucial for the future growth of your business and, therefore, is one of the most important decisions you will ever make for your firm. Take your time and find a CPA who will be devoted to your business goals and vision and can help reduce unnecessary expenses, get educated on tax regulations and minimizing the risk of an audit. EU and Cyprus taxation systems allow for flexibility in business management and transaction structuring. A skilled tax advisor can and will guide you properly through these tortuous paths and save you serious amounts of money over time.

PHS has decades of experience in all types of Accounting and Bookkeeping services and will be glad to make it available to your business’ growth and continuous development.