The Benefits of Hiring a Tax Strategist vs. Tax Preparer

When it comes to preparing and filing your taxes, you have two main options: hiring a tax preparer or hiring a tax strategist. Both professionals can help you with your taxes, but they have very different roles and can offer different benefits.

A tax preparer is a professional who assists you with gathering the necessary documents and information to complete your tax return. Then they will use that information to fill out the appropriate forms and file your taxes. Tax preparers are often accountants or bookkeepers who have experience with tax laws and regulations. They can assist you in making sure you have all the required paperwork and can help you identify any mistakes you might have made.

A tax strategist, on the other hand, looks at your overall financial situation and provides advice on how to minimize your tax liability. They look at long-term tax planning and advise on how to maximize your financial condition to minimize your taxes in the future, rather than merely the current year’s taxes. A tax strategist can help you with understanding the tax laws and rules as well as assist you in identifying the appropriate credits and deductions.

Here are some of the benefits of hiring a tax strategist:

  • Tax Minimization: A tax strategist can help you identify tax-saving opportunities that you might not be aware of. They can also help you plan your finances in a way that will minimize your tax liability.
  • Long-Term Planning: A tax strategist can help you with long-term planning. They can advise you on how to manage your finances in order to minimize your taxes in the future.
  • Complex Situations: A tax strategist can help you navigate difficult tax situations, such as owning rental property or running a business. They can advise you on how to structure your finances in a way that will minimize your taxes while still complying with all the relevant laws and regulations.
  • Peace of Mind: Hiring a tax strategist gives you a peace of mind, knowing that your taxes are being handled by a professional who is looking out for your best interests.

In conclusion, while a tax preparer can help you file your taxes correctly, a tax strategist can help you minimize your tax liability and plan for the future. If you want to optimize your finances and reduce your tax burden, it may be worth considering hiring a tax strategist. The great thing about Giles Consulting, you get the best of both worlds. Depending on where you are in your life or your business, we have someone that can cater to all your financial needs.

Want to learn more about how our tax strategist services can benefit you?

Request a free consultation with one of our experts today.