Is it worthwhile to use the help of a tax advisor

Jun 25, 2019 Finance

Is it worthwhile to use the help of a tax advisor

Tax regulations in our country are definitely not clear and simple to understand for the average citizen. What’s more, the tax system is so complicated that even identical issues can be resolved differently by different authorities. Such an extremely individual approach to tax issues certainly does not give comfort of conducting business activity or other issues requiring tax deduction. Even procedural regulations concerning tax control and tax proceedings pose many problems and doubts.
Independence does not pay off
Some people try to study tax laws on their own and look for concrete answers to their concerns on the Internet. However, you should be fully aware that such a route is very risky and if you make a mistake, the relevant authority may impose a penalty. Unfortunately, ignorance of the tax law does not relieve anyone of responsibility for omissions, miscalculations or delays in paying the relevant tax. Therefore, it is worth avoiding the risk of punishment for a misdemeanour or fiscal offence. There is one reliable way to do this. Simply ask your tax advisor for help, who can either have his own office or be employed by a particular Accounting Office, such as the Cognitive Center.
Who is a tax advisor?
A tax advisor is a profession of public trust and has been appointed in accordance with the Tax Advisory Act. It cannot be an accidental person, because the qualification requirements are really high. You not only need to have an appropriate level of specialist knowledge and pass an extremely difficult state exam, but also to constantly improve your professional qualifications by participating in various seminars, conferences and training courses. Substantive knowledge must also be confirmed by the impeccability of its character.
What is the scope of services offered by a tax advisor?
Interpretation of provisions
As mentioned earlier, the ambiguity of tax law regulations in our country really causes a lot of problems for both entrepreneurs and ordinary citizens. A tax advisor will not only clarify any doubts regarding tax obligations, but will also provide appropriate advice in order to avoid making a mistake by the client. Therefore, it is worthwhile to use the assistance of an advisor already at the stage of starting a business, and not at the time of participation in a tax audit, tax proceedings or after issuing a decision determining the amount of tax liability. A tax advisor will certainly effectively guide you through the maze of regulations and, of course, will explain how and when to do what you need to do in a specific case.
2nd Intermediary between an office and a taxpayer
It should be clearly emphasized that the role of the advisor is not limited to the analysis of regulations, but also includes ensuring the proper course of proceedings, which is of considerable importance. The average citizen often does not even know his or her rights and does not understand the expectations of officials or their writings. The tax advisor will not only prepare a detailed action plan, but will also ensure that all rights of the taxpayer are respected. In addition, he can represent his clients in proceedings both before the relevant tax authorities and before the Administrative Court.
3. the company’s tax-related issues
The role of a tax advisor is also to help with such complex issues as preparing tax returns and tax returns. A tax advisor will surely determine the most optimal form of taxation for a particular client and, of course, will keep tax books and other records designated for tax purposes. Entrepreneurs who have business contacts with foreign contractors may need advice on international tax law and assistance or represent the client in matters related to customs law.
4 Issues other than taxation
It should also be stressed that the advisory and executive role of a tax advisor is not limited to tax issues. Equally important, for many people, may be assistance in the field of public law receivables, such as health insurance or office fees, as well as advice on the appropriate use of EU funds, including the submission of appropriate applications, as clearly emphasized by specialists from the Accounting Office Cognitariat.
Security of cooperation with a tax advisor
This is a very important element, which should make it all the more important to turn to a professional for help. First of all, a tax advisor is covered by professional secrecy, which means that he has the right to refuse to testify in a case concerning his client.
In addition, every tax advisor must have a valid insurance policy. The importance of this obligation is particularly evident in situations where a mistake is made. It should be made clear that liability for damages for all errors and omissions lies solely with