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Thu Nov 23 2023

5 min read

Tax Advisor: A Lucrative Career to Know About

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Tax Advisor

Taxes are one of the most talked about concepts which are feared by a lot of people for being very difficult. Ensuring the right tax returns is one of the most tedious tasks that anyone faces, and everyone wants a way out of this. This is where a tax advisor steps in to set the tasks straight for everyone. A tax advisor is essentially a person who is skilled with the knowledge of tax laws and who can further consult you about the same. But if you are wondering about how you can become one of those fabulous tax consultants, then you are in the right place. 

Every country has different laws for taxes and knowing all these regulations is one of the most necessary tasks in order to become a tax advisor. Considering the fact that a lot of the population is still uninformed about the correct filing of taxes, this field of work is of great importance and can ensure a great and stable future. Through the vast array of information available about this, you might still end up confused about how to become a tax consultant. Go through this complete guide for the answer to all your questions.

How to become a tax advisor?

Although it is considered suitable that you should graduate with commerce degree for becoming a tax consultant, it is not necessary. You might choose any field of interest and then study to become a tax advisor. However, it is notable that having graduated in commerce can give you an edge over the others since it already teaches you some prerequisites of the field that you are going to explore. One of the options to advance your career in taxing is by doing a post-graduation degree that specializes in taxation. It can give you all the knowledge that you are looking for and hone your skills about filing of taxes and the regulations that bind the same. Through the degree, you can land up a job that can fulfill your dream.

However, there are also other ways to help you accomplish your task. A course by the CPA Council helps you specialize in taxing. The course is the Certified Public Accountant course. After the completion of this course, you can get a job in whichever sector that you wish to join. It might be noteworthy to mention that being a tax advisor can also require you to get a personality development course. This is because, as a tax consultant, you are bound to meet many new individuals and try to understand their demands while explaining yourself. And nothing helps more than a good personality to attract more clients to you.

What is the scope of my career?

Being a tax consultant is a very important position. In the contemporary era, it is essential for everyone to file their taxes properly and as a tax advisor, you will be doing exactly that for them. You can work with a firm, which might be public or private, or you might just start working for yourself. Based on that, you will have varied interactions with your clients. If you are working for corporations, you will have to ensure that you read the various countries that they are expanded in and ensure that their taxing system is in accordance with the rules of those countries.

You must be aware of the changing rules of finance and inform your client about them. Therefore, you will be guiding them to build a model through which their finances remain clear and they file their taxes on time, and in the right manner. If you hone your skills and continue sharping them throughout the years, this career path can flourish for you and you shall handle a lot of clients at a time. The average salary of a tax advisor in India is about Rs.16.6 lacks per annum. If you are good at your job, you can also further earn up to about Rs. 50 lacks per annum. So, this field of work provides a reliable source of income.

Are soft skills important for being a tax consultant?

When you are technically sound in your career, many people start to ignore the need for soft skills and personality development. This can be a major point of devastation in the long run. A very important thing to remember is that being a tax consultant requires you to have a lot of interpersonal communication, either one to one or even in a group.  So, along with being technically sound, it is important that you focus on your communicational skills. Also, you must lead the group that you are addressing and be the one who is guiding them. 

In order to do that, you should try to encourage good communication between your client and yourself throughout time. While you are thinking about how to become a tax consultant, it is easier to focus only on the part of the education. But if you cannot apply what you have learnt, and if you cannot relay it further to the people you are dealing with, then your knowledge serves no purpose.

Is it important to practice before landing an actual job?

Like every job, it is utterly necessary for a tax advisor to be practiced before he/she handles a ‘real’ client. Even if you try to join major firms, they will look on towards your experience profile and will prefer a good experience in work acquired previously. So, you should try to get some practice privately before you apply for jobs. There are many ways to do that. You can try out for some internships that match your role.

 Also, you can meet some learned tax advisors and work under them for some time to gain real information about how things work in real life. It will serve as a great way to give you exposure and help you by giving you a real time experience.  So, becoming a tax advisor is not all that difficult once you think of it. You must be determined to do what you want to do and continue to strive towards the same. Once that you are doing that, there is no stopping you from becoming a tax consultant.