How to Become a Tax Consultant

- Salary, Qualification, Skills, Role and Responsibilities

Who is a Tax Consultant?

A tax consultant is a professional who can help individuals and businesses navigate through the various regulations and laws affecting the tax filing process. They can also help them save money by reviewing existing forms and finding additional deductions. You'll find that working in the tax consultation field is a lucrative tax consultant job that you can take on and help your clients and partners achieve their goals. You can work with any firm or individual who you like to help with their various tax preparation issues. Read the complete article to know more about this career including factors such as tax consultant salary.

Tax Consultant in a Nutshell

Tax consultants are experts who help their clients minimize taxes and maximize their after-tax income. They can work with them throughout the year to ensure that their clients are following the rules and regulations. These individuals come from various fields and have the necessary education to meet the needs of their clients. Some of these include lawyers, accountants, enrolled agents, and financial advisors.

Quick Facts for Tax Consultant

Suitable for
Male, Female

A Tax Consultant is not a woman-specific role. He or she can be a federal or state government employee. There are no gender-specific restrictions when it comes to becoming a tax consultant.
Any special needs
Yes

A Tax Consultant job is suitable for people with special needs. This role requires an office-based work environment and doesn't require frequent travel.

Table of Contents for Tax Consultant

What is the role of Tax Consultant?

What is the workplace/work environment of Tax Consultant like?

How to become a Tax Consultant?

What are the skills and qualities required to become a/an Tax Consultant?

Which certifications and internships can be helpful in becoming Tax Consultant?

Career path progression for Tax Consultant

What is the job outlook for Tax Consultant?

Frequently Asked Questions for Tax Consultant

What is the role of Tax Consultant?

A tax consultant or advisor can help individuals and businesses minimize their tax burdens. They can help them develop strategies and plans that will help them achieve their goals. They can also help them avoid tax penalties and maximize their deductions.

They can help companies develop long-term plans and strategies to improve their financial situation. They can also help them defer taxes and make significant changes to their operations.

Review

A tax consultant is a professional who helps the Tax Commission analyze and review the proposed legislation related to taxes, fees, and the allocation of revenues.

Tracking

The tax consultant is responsible for analyzing and reporting on the various measures used in the drafting and implementation of legislation. He or she also has to determine the impact of the legislation on the state's revenue and administrative budget.

Documentation

The tax consultant is responsible for providing administrative support to the various departments and agencies of the government, including the preparation of reports and legislative summaries.

Presenting

The tax consultant’s duties include preparing and presenting interim studies for the members of the legislature.

Responding to Requests

The tax consultant’s main role is to provide analysis and recommendations to the tax commission and other state agencies regarding the use of tax information.

Assistance

A tax consultant is required to develop new policies that will improve the efficiency of the procedures used in the taxation of the government. He or she will also help in developing effective strategies to improve the government's revenue and expenditures.

What is the workplace/work environment of Tax Consultant like?

A tax consultant is a person who works in an environment that is conducive to the development and implementation of policies and legislation. He or she is responsible for advising government agencies on matters related to taxation.

Does Tax Consultant require travelling?

Likely

Although a tax consultant is not required to travel, he or she might have to attend conferences or meetings.

Employment Shifts

Full Time, Part Time

Tax consultants are expected to work full-time. There is no flexible work schedule, and they do not have to work from home. In certain pandemics, the authority may allow them to work from home.

Employment Nature

Contractual, Permanent

A tax consultant is a permanent employee. There are no contractual positions available for this type of tax consultant job.

Work Place

Office

In an office setting, a tax consultant interacts with other staff members.

Presence in Geographical Area

Semi-urban, Urban

The tax consultant works for the Ministry of Finance and is usually based in urban areas.

Time Pressure

Likely

The tax consultant is under intense pressure to complete tasks and ensure that the policies are implemented properly. He or she also may have to amend the legislation after it has been implemented.

Overtime Details

Sometimes, the tax consultant’s work schedule is extended due to the need to complete tasks and ensure that the policies are implemented properly. This can happen during important project hours.

Weekly Hours of Work

Min 45 Hours

The average work hours of a tax consultant are usually around 40 to 45 per week. He or she may also get extended due to the need to complete tasks and ensure that the policies are implemented properly.

How to become a Tax Consultant?

Steps to become a Tax Consultant

Becoming a tax consultant involves helping individuals and businesses navigate the complexities of taxes. Tax consultants offer expert advice on how to manage taxes, find deductions, and stay compliant with tax laws. For all the budding aspirants who are interested in numbers, problem-solving, and helping others with their financial responsibilities, a career as a tax consultant might be a great fit for you. Here are a few steps that you need to take to become a tax consultant:

Identify Skills
Enrol in formal education
Pursue specialised certification
Build an attractive resume
Pursue an internship
Find job opportunities and apply
Begin a career

01 Step

Identify Skills

Here are the skills, both hard and soft, that are essential for becoming a successful tax consultant:

Hard Skills:

Taxation Knowledge
Mathematical Proficiency
Data Analysis
Software Proficiency
Research Skills
Legal Compliance

Soft Skills:

Communication
Problem-Solving
Attention to Detail
Time Management
Client Relationship
Ethical Judgment
Adaptability

02 Step

Enrol in formal education

To become a tax consultant, enrolling in formal education is a key step. A bachelor's degree in accounting, finance, or a related field provides a strong foundation in taxation principles. Pursuing a master's degree, such as an MBA with a specialisation in taxation or a Master of Taxation, offers advanced knowledge and expertise, enhancing your prospects in the field. These degrees not only deepen your understanding of tax regulations but also prepare for the complexities of guiding clients through their financial obligations.

Bachelor’s degree in

B.Com. Specializations	BBA Specializations
Economics	Business Administration
Investment Management	Finance
Banking and Insurance	International Business
Taxation	Banking and Insurance
Finance	Sales and Marketing

Master’s degree

MBA in Finance

MBA in Banking & Finance Management

03 Step

Pursue specialised certification

Acquiring specialised certifications is a significant step towards becoming a proficient tax consultant. These certifications, such as Certified Public Accountant (CPA), Enrolled Agent (EA), or Chartered Accountant (CA), provide in-depth training on tax laws, regulations, and strategies. They enhance your credibility, expand your knowledge, and open doors to diverse tax consulting opportunities, making you a sought-after expert in the field.

Business Accounting and Taxation Program	Certified FATCA Professional
Corporate Tax Planning	Direct Tax - Laws and Practice
Taxes and Decision Making	-

04 Step

Build an attractive resume

In this step, crafting an appealing resume is essential when aspiring to become a tax consultant. Aspirants’ resume should highlight their relevant education, certifications, and work experience in the field of taxation. Emphasize any specialized skills, such as tax software proficiency, financial analysis capabilities, and client interaction expertise. Tailoring their resume to showcase your abilities and qualifications will make a strong impression on potential employers or clients in the competitive field of tax consultancy.

05 Step

Pursue an internship

The next step involves seeking out internships, a crucial phase in the budding tax consultant’s journey. These internships provide hands-on experience within tax firms or financial departments, allowing them to apply theoretical knowledge to real-world scenarios. Engaging in internships not only enhances their practical skills but also provides networking opportunities, insights into the industry, and a chance to learn from experienced professionals.

06 Step

Find job opportunities and apply

Next step is to focus on identifying suitable job openings and submitting applications to establish a career as a tax consultant. This involves searching through job boards, company websites, and professional networks for positions that align with the expertise. Crafting tailored resumes and cover letters that highlight aspirants’ skills and enthusiasm for the role is key. Applying to various opportunities and networking within the industry can increase aspirants’ chances of securing a rewarding position as a tax consultant.

07 Step

Begin a career

Final step involves embarking on the journey as a tax consultant. With acquired tax knowledge, strong analytical skills, and the ability to communicate complex concepts, budding tax consultants can begin working with individuals and businesses. From assisting in tax planning and optimization to ensuring compliance with tax laws, their expertise will help clients navigate the intricacies of taxation and financial management. As they build client relationships and gain experience, aspirants contribute to their financial success while growing their reputation as reliable tax consultants.

What are the skills and qualities required to become a/an Tax Consultant?

Research skills
Supervisory skill
Advising on tax consultancy
Documentation

In order to become a tax consultant, you need to have the necessary skills. These are listed below. These are the various skills that are required to perform their duties efficiently.

Research skills: Tax consultants need to have strong research skills in order to carry out their duties. This can involve analyzing the various procedures involved in the regulation of the taxation industry.

Advising on tax consultancy: The tax consultant is responsible for advising government officials on the implementation of new policies and procedures. He or she can help them understand the changes in these procedures and policies in a simple manner.

Supervisory Skills: In addition to being able to act as an advocate for the interests of the clients, a tax consultant also needs to have the necessary skills to make informed decisions. This role involves influencing the political and economic decisions of the government.

Documentation: The duties of a tax consultant include developing and implementing policies that detail the procedures for the organization's operations.

Which certifications and internships can be helpful in becoming Tax Consultant?

These courses are designed to provide candidates with the necessary skills and knowledge to succeed in their tax consultant careers. They can also help them maintain their work environment in an efficient manner.

Business Accounting and Taxation Program	Certified FATCA Professional
Corporate Tax Planning	Direct Tax - Laws and Practice
Taxes and Decision Making	-

Internship Availability

Yes

A tax consultant is a government position that involves analyzing the various aspects of the tax system. This role requires a certain level of training. However, there are few to no internships in the area. Although exceptions might exist provided you have a position in the private sector.

Career Path Progression for Tax Consultant

Junior tax consultant: Aspiring tax consultants often begin as tax associates or junior tax consultants, learning the ropes by assisting senior professionals with tax preparation and basic advisory tasks.

Senior tax consultant: With experience, they can advance to roles such as tax analysts or senior tax consultants, taking on more complex tax planning, analysis, and client interaction.

Partner or principal positions: Seasoned tax consultants may progress to becoming partners, principals, or directors in a tax advisory firm. They lead engagements, manage client portfolios, and contribute to the strategic direction of the firm.

What is the job outlook for Tax Consultant?

In India, a tax consultant is not a recognized official designation within the Department of Revenue. In the US, hiring for tax consultant positions is carried out in different regions. There are two boards within the Ministry of Finance, which are responsible for collecting and implementing various taxes in the country.

The Central Board of Excise & Customs is also referred to as the CBEC. In India, the various taxes, such as the income tax, are now under Direct Taxation. The indirect taxes, which include customs and excise duties, are now under the Goods and Services Tax.

The IRS Officer is an official designation within the Department of Revenue in India. This is regarded as the fourth most prestigious position in civil services after the Indian Administrative Service (IAS), Indian Police Service (IPS), and the Indian Financial Service (IFS). An IRS officer can also function under either the CBEC or the CBDT.

Frequently Asked Questions for Tax Consultant

Que. Is tax consultant a good career?

Ans.

Yes, being a tax consultant can be a rewarding career choice. Tax consultants play a crucial role in helping individuals and businesses navigate complex tax regulations, maximize deductions, and minimize tax liabilities. With the constant changes in tax laws, there is a consistent demand for knowledgeable professionals who can provide expert advice. This career offers opportunities for growth, specialization, and the chance to make a significant impact on clients' financial well-being.

Que. Is it hard to become a tax consultant?

Ans.

Becoming a tax consultant requires a blend of education, training, and practical experience. While it may not be overly difficult, it does demand a solid understanding of tax laws, accounting principles, and financial analysis. Aspiring tax consultants need to develop strong analytical skills, stay updated with changing regulations, and be effective communicators to assist clients effectively. Earning relevant qualifications, such as a degree in accounting, finance, or taxation, and obtaining certifications like Certified Public Accountant (CPA) or Chartered Accountant (CA) can enhance one's credibility and career prospects in this field.

Exams

Colleges

Predictors

Resources

Quick links

Exams

Colleges & Courses

Predictors

Resources

Exams

Colleges

Predictors & E-Books

Resources

Engineering Preparation

Medical Preparation

Online Courses

Products

Exams

Colleges

Resources

Exams

Colleges

Predictors & Articles

Resources

Exams

Colleges

Predictors

Resources

Exams

Colleges

Upcoming Events

Resources

Exams

Colleges

Resources

Quick Links

Top Streams

Specializations

Resources

Top Providers

Exams

Colleges

Resources

Diploma Colleges

Exams

Colleges

Resources

Exams

Resources

Top Courses & Careers

Colleges

Exams

Upcoming Events

Resources

Other Exams

Exams

Colleges

Top Countries

Student Visas

Exams

Top Schools

Products & Resources

NCERT Study Material

How to Become a Tax Consultant

Who is a Tax Consultant?

Tax Consultant in a Nutshell

Quick Facts for Tax Consultant

Table of Contents for Tax Consultant

What is the role of Tax Consultant?

Review

Tracking

Documentation

Presenting

Responding to Requests

Assistance

What is the workplace/work environment of Tax Consultant like?

Does Tax Consultant require travelling?

Likely

Employment Shifts

Full Time, Part Time