The tax advisor acts as an expert in all tax matters Topics, ensures complete bookkeeping, is for payroll responsible, prepares the annual financial statements and is especially at the beginning important sparring partner for startups and the self-employed. While a good one Tax consultants can save the company a lot of money through optimizations a bad tax advisor can quickly skyrocket the cost. In this Article you will find 10 tips on how to find the best tax advisor for you You can find companies and what requirements your tax advisor on should meet in any case.
Tip 1 – Get advice before starting a business
The most important tip I would like to give you is that you should seek advice from the experts as early as possible before starting a business. This can save you a lot of costs and effort and avoid mistakes at the beginning that have long aftermath. This applies in particular to the choice of the right legal form – a tax advisor can help you and together you can find the best legal form for your company and consider all eventualities (such as exit, succession, etc.) and regulate them with the help of a lawyer or notary .
Tip 2 – Define the requirements
If you are looking for the best tax advisor for your company, you have to know which requirements the tax advisor should meet and which You need knowledge and expertise for your company. You have to think about what is important to you when working with the tax advisor. Do you value regular agreements and meetings or do you just want nothing hear from your tax advisor? What are your questions that you answered want? Should the tax advisor only or should only take care of tax advice he takes care of or needs to take care of payroll and bookkeeping do you also have business advice or special legal advice? This question you should definitely do so in an initial conversation with the tax advisor clear up.
Tip 3 – the right search
You should think about who you are as a want to get to know potential tax advisors. Are you looking for one Tax advisor in your area, the tax advisor should be an international Your tax advisor should focus on certain topics and be represented by a law firm Specialize in industries or an independent accountant is enough for you without employees? You can only find the right one if you know what you are looking for Find a tax advisor. The next tip will definitely help you with that
Tip 4 – For the Big 4, medium-sized or small law firms Tax advisors decide
To find the best tax advisor right from the start, you have to you decide which law firm you want to work with. The size The firm and the number of employees does affect the price, however in most cases also on quality and service.
Big 4 law firms
What speaks for one of the Big 4 law firms ( EY, Deloitte, KPMG or Pwc ) is the many years of experience and the internationalization of the law firms. You can find subsidiaries of the Big 4 in probably every country in the world and they offer a huge range of services that covers all inquiries. There is a multitude of experts for every subject area and there is always someone who can help you. All of this has its price, of course. The Big 4 law firms are usually also the most expensive and sometimes charge very high hourly rates that small startups can hardly afford or do not want to. So if you accept the price for the quality, I advise you to hire a Big 4 law firm.
Medium-sized law firms
I would count all tax consultancies with between 30 and 300 employees among medium-sized law firms. In Austria (or in Vienna) BDO, TPA Horwath, LeitnerLeitner or LBG are well-known representatives of medium-sized law firms. They are almost nothing behind the competitors presented above, but have significantly fewer employees and fewer branches. Here it is possible that there are not the best experts for special topics or that the law firms specialize in a certain branch. Their hourly rates and packages are usually a little cheaper than Big 4 consultations. I would advise all entrepreneurs / self-employed / startups to opt for a medium-sized law firm – they deliver a high quality of services and offer very extensive services and at an acceptable price.
Small law firms
For me, small law firms are all law firms with fewer than 30 employees, individual independent tax consultants and independent accountants. These tax advisors charge the cheapest hourly rates in comparison and basically offer the same services. However, small firms are usually only supported by one partner – this can result in a reduction in quality and services. However, there are of course exceptions.
However, if you hand over the entire tax responsibility to a small law firm, you have to reckon with the fact that there may not be any holiday substitutes – or that mistakes will happen more quickly due to a lack of four-eyes principle. I would therefore recommend this type of tax advisor especially to small, local restaurants or sole proprietorships – because personal contact and trust are the main focus here. I would tend to advise against small law firms for companies with several employees or startups that are growing rapidly.
Tip 5 – What services should the tax advisor offer
As already mentioned several times, almost all tax advisors offer the same services. In addition to classic tax advice, this also includes payroll accounting, bookkeeping, accounting and management consulting. Any tax advisor who cannot handle all of these services should rather be avoided. It is simply not very advisable to hire different law firms for the individual services. Because this often leads to errors in communication with one another and makes everyone’s work more difficult.
Tip 6 – Industry knowledge, network and startup know-how (esp for startups)
For young companies it can be crucial that the tax advisor has extensive industry knowledge and specializes in a topic. The tax advisor usually has a broad network of contacts and can help startups in particular. Since startups can hardly be compared with traditional companies, the tax consultancy should at least have looked after a startup and know what is important in fast-growing organizations and what needs to be considered.
Tip 7 – Arrange a free initial consultation
After you have narrowed down your selection, you should have an initial interview with at least 3 tax advisors of your choice. The first interview serves to get to know the other person, to clarify all initial questions and to lay the basis for future cooperation. An initial interview is always free (everything else is dubious) and gives a good first impression of the firm and the future tax advisor. As a rule, a few days after the initial meeting, a corresponding order offer is sent, which includes all hourly rates and prices.
Tip 8 – compare offers
As soon as you have several offers, you have to compare these offers of course. You should not only pay attention to the numbers, but also include the personal impression, sympathy and soft skills in the decision. Often, however, the gut feeling provides a good basis for the decision.
Tip 9 – get references (optional)
Before you sign an offer, you can get a few references from other clients and ask about their experiences. Most tax consultants list their references on the homepage and you can quickly get information over the phone and get a picture of the customer’s perspective.
Tip 10 – Make the right decision
After you’ve followed all of these tips, you should be clear be the tax advisor you want to work with. Plan for the whole process at least two weeks to find the best tax advisor for your Find companies and, above all, listen to your gut instinct. The cheapest The provider is not always the worst and the most expensive is not always the one best.
I hope these 10 tips have brought some clarity to this topic and can help you find the right tax advisor. Nonetheless, the tips are only intended as a guide and do not need to be followed all of them. Should you want to add any points or share your experiences, write it in the comments or write me a personal message using the contact form .
As a further aid to decision-making, you can take a look at the best tax advisors in 2019 .