Tax advice is a professional’s guidance on strategies that minimize tax liability. Unlike accountants, who tend to focus on filing and compliance, tax advisors stay informed of the latest tax code changes and help clients understand how those laws affect their specific situations. Whether it’s advising on startup equity compensation or navigating complex tax situations like real estate investments, the right advisor can provide guidance and minimize financial risks for their clients.
As more and more professionals shift from the traditional model of preparing tax returns to a more consultative approach, tax advisory is becoming increasingly common. The goal of tax advice is to collaborate with clients on their goals and then offer strategies to lower their tax liability and meet those goals. It’s a more proactive approach to serving clients and helps them avoid penalties, start college funds, put money into retirement, grow their small businesses and improve their quality of life.
At SmartAsset, we use our Tax Advisory service to provide employees with personalized recommendations for their equity grants and tax obligations. Our Tax Advisors work with a client’s cap table and individual equity grant data in Carta to model potential tax scenarios for each employee, ensuring that the most accurate possible outcome is being considered. Our team of experts has given over 1,500 individual employee tax consultations and has a 4.9 customer satisfaction rating. They can also help you navigate other equity-related topics like tax deferral and QSBS eligibility. Steuerberatung