Examining Why One Should Hire a Professional Tax Advisor (Steuerberater Wien)
The Steuerberater Wien is a professional figure for companies and organizations— supporting taxation, contracts, and many other aspects. There are differences with the self-employed accounting advisor.
Duties of a Steuerberater Wien
The tax advisor can be defined as an expert in tax and tax regulations who offers his advice to public and private entities to monitor the correctness of tax obligations and the processing of tax returns.
Furthermore, the tax accountant can offer his advice in various areas such as contracts and corporate structures. So not only fulfillments and data processes but also genuine consultancy for tax and business planning.
Alongside this “historical” figure, a new professional figure is emerging who has recently been populating a specific section of the Register: that of the Accounting Advisor or, more precisely, that of the Autonomous Accounting Advisor who differs from the figure of the “Qualified Accounting Advisor to door-to-door selling (former accounting advisors)
Difference Between Tax Advisor and Independent Accounting Advisor
The tax consultant operates exclusively in the interest of a single authorized investment firm and is connected to this by using under an agency or subordinate employment contract or mandate and proposes to customers the products and services of that particular company.
On the other hand, the Accounting Advisor (direct branch of a specialization contained in the Register of Accountants) is a professional who exercises the activity of advising the client in the best allocation of his accounting assets. This professional figure, confirming his independence, is remunerated only by the fee he issues directly to his client.
The Accounting Advisor must necessarily operate in conditions of autonomy and independence from the individual accounting bodies and cannot entertain relations that compromise their independence.
The perimeter in which the activity of the independent accounting consultant moves is still subject to considerable doubts that make it necessary to have a greater understanding of the context.
The regulatory data that establishes by “investment advice ” we mean the provision of personalized recommendations to a client, at his request or on the initiative of the service provider, regarding one or more transactions relating to accounting instruments”.
Therefore, investment advice is characterized by the simultaneous presence of two elements:
A Personalized Recommendation
Concerning the first element, to define a recommendation as “personalized, the following two circumstances must occur simultaneously” The request must be addressed to a person in his capacity as an investor (or potential investor).
The recommendation must be based on the client’s characteristics, or it must be presented as suitable for the client to whom it is addressed. In the absence of personalization, there is no regulatory scope.
One can speak of a general investment recommendation, as occurs for example in the case of investment recommendations on its website (accessible and consultable by the general public of investors) or in case of advice on accounting instruments provided by a newspaper, magazine, or any publication intended for the general public.
As regards the second element, the recommendation given to the customer must first concern one or more of the following operations.
• Buying, selling, underwriting, exchanging, redeeming, holding a specific accounting instrument.
• Take guarantees against the issuer.
• exercise or not exercise any right conferred on a particular accounting instrument to buy, sell, subscribe, exchange or redeem an accounting instrument
• Furthermore, the recommendation must relate to a specific accounting instrument: in other words, it is not sufficient for it to refer generically to the type of accounting instrument.
The business must constantly focus on managing profits and losses to remain creditworthy. Profit is the money that a company keeps after paying all its expenses.
A loss arises from expenditures that exceed the number of sales a company makes in a given accounting period. Businesses need to manage their income statements, also known as profit and loss statements, to keep profits and expenses under control and always in line with revenue.
Profit and loss management begins with assessing the company’s current financial position. Management should review the current profit and loss statement and compare the company’s last two or three years.
An accountant or analyst should use this information to generate a set of performance indicators to calculate the company’s average revenue and expenses.
The professional figures of different and distinct specialization must necessarily be present, who can thus offer the customer the possibility of a 360-degree framework of its needs, necessarily complex given the times and situations in place providing consultancy solutions both in the fiscal and corporate legal.
It should be emphasized that being the bearer of the specializations mentioned above, the accountant is the most suitable figure to assist the accounting aspects of the person, the family, the companies of their reference for the best consolidation of the overall assets and its generational transitions.
The Steuerberater Wien advises clients on managing their assets and investing in the best way. He is an expert in the markets and accounting products offered by banks, credit institutions, and brokerage companies: thanks to this knowledge, he can advise and direct his clients towards the solutions most suited to their needs – from credit to pension, from investments to insurance protection.
How Does the Profession of Accounting Advisor Work?
The Steuerberater Wien, first of all, meets the client to identify expectations and needs for investment, savings protection, and improvement of the present or future accounting situation. It then carries out an in-depth analysis of the client’s personal, fiscal and economic crisis and sets short and long-term goals.
It illustrates the possible options on the market, highlighting the advantages, risks, and costs of each: loans, insurance, investments, savings plans, pension products.
He is, in fact, a professional with complete expertise, able to recommend the best products for every accounting need. It answers all the customer’s questions and clarifies any doubts in fiscal and tax legislation.
An accounting consultant needs to build a personal relationship with the client based on transparency: the direct connection allows one to know the situation and the accounting objectives and formulate the most suitable solution in the client’s interest.
Based on the level of risk that the client is ready to take, the accounting consultant proposes personalized accounting planning to achieve the objectives defined together.
For example, the investment advisor may sell specific accounting products, recommend or make capital transfers on behalf of his clients, open current accounts, buy and sell securities on the stock exchange.
It then manages all the documentation and related administrative and bureaucratic practices.
All services are performed with quality, professionally, accurately, quickly, and with the highest level of responsibility. The goal of the accounting service is to give the client all the legal opportunities to optimize the activity, particularly regarding the accounting of taxes and other charges.
The services they provide are customized for each customer based on the type and entity of the product or service. They can adapt our services to small and medium-sized businesses and large ones. They guarantee customer service appropriate to their activities, the modality, and the scope of operations.
Accounting Includes Several Services:
• Accounting communications issued to the customer,
• Ledger assistance
• Quantification of value-added tax
• Listing, depreciation, and revaluation of essential means
• Employee administration (determination of salaries, determination of contributions for taxpayers)
• An ongoing relationship with the revenue office and other state offices • Annual final balance sheet (year-end balance sheet)
• Calculation of partial budgets
• Interest determination
• Drafting of documents for the stipulation of bank loans
• Further assistance at the customer’s request
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