The accounting and tax advisor (Steuerberatung Wien) checks and manages administrative and accounting documents, issuing and entering invoices, and monitors payments and collections.
Another important task of the accountant is the preparation of periodic and annual tax returns for legal persons (partnerships and corporations) and individuals (professionals and sole proprietorships) – such as the tax return, certification single, VAT settlement, etc. Depending on the cases and specific needs, the accountant tries to identify and suggest the most suitable tax solutions containing costs, maximizing profits, or minimizing taxation.
Tax Advice Explained: 7 Areas
The duties of a tax consultant differ according to the responsibilities he takes on himself. The primary responsibilities of a tax consultant are bookkeeping, financial accounting, payroll accounting, annual budgets, and of course, general tax advice and tax optimization.
If you are interested in processes and individual areas of responsibility, then you have come to the right place. Find out about the risks of hiring a tax advisor, as well as three tips for finding a good, excellent tax advisor. Later, we will give you insights into the daily collaboration with your tax advisor.enna
Also read – Advantages of Hiring the Professional Accounting and Tax Advisor (Steuerberatung Arzt) Services.
Typical work of tax consultants in companies:
- Advice for preparing and structuring taxes
- Accounting and financial accounting
- Payroll accounting and payroll
- Profit and Loss Account (EÜR)
- Tax returns (much further on this)
- Revisions of tax assessment notices
- Representation before the tax office and the court
Duties of the tax advisor: tax returns, wages & Co.
The four central tasks consist of these areas in a simplified form:
- Tax returns (monthly filings and annual assessments)
- Salaries for employees
- Budgets (annual budgets)
- Tax structuring (set-up and optimization)
- Consulting: foundation, daily business, and development
The most important thing, especially for the founders, is tax advice and structuring. Taxes aren’t just a topic for large corporations and corporations.
It already starts with the CEO’s salary and tax allowances. In the growth process, there are also changes in the legal form of the company (external list). When considering a possible approach, this could include the following steps, for example, which you go through phase by step as a self-employed person.
Evolution of a company (exemplary):
- Individual enterprise
- Entrepreneurial company (UG haftungsbeschränkt)
- Limited Liability Company (GmbH)
- Joint-stock company (AG)
- Holding (with branches)
We continue with simple and initial aspects such as the CEO’s salary, and we move on to the change of the personal legal forms of the companies.
Processing of tax matters
Consultations on tax structuring, elaboration of concepts for tax evasion, this is of course, not the daily routine in cooperation. The day-to-day collaboration with your tax advisor mainly covers the management of tax matters, from payroll accounting, bookkeeping, and preparation of tax returns to special requests.
Duties of tax consultant in detail:
Accounting; this includes setting up accounting, creating a chart of accounts, accounting itself, assigning coupon accounts).
Payroll accounting
Fiscal declaration; this includes advance declarations of payroll tax, capital gains tax, and turnover tax. Preparation of tax returns includes declarations of income, corporation, trade, turnover, gift, and inheritance taxes.
Preparation of financial statements; this includes the income statement (EÜR), opening balance sheet, annual balance sheet, interim balance sheet, liquidation balance sheet, and explanatory reports. And special requests.
For the sake of completeness, Tax advisor Vienna ( Steuerberatung Wien ) naturally helps not only in the creation or constitution of the business but also in liquidation, that is, in insolvency, if something goes wrong.
Working with tax consultants = saving money
Every hour your tax advisor works for you, in addition to regular duties, costs extra. If you send the documents (incoming invoices and outgoing invoices) unsorted, the tax advisor or employee has to do almost everything. Conversely, if you deliver everything ordered, assigned (document equals account transaction), and assigned, the workload is reduced to a minimum.
If you write invoices in which, for example, your tax code is missing, your tax advisor must point it out. You have to change everything, send it again. If you don’t collect your neat and historical invoices, your tax advisor has to do the work, some receipts are unclear, again, questions, time, and cost.
If you are not yet using digital accounting through tax software, the receipts must be entered by hand. These are all factors that drive up the cost of your accountant.
So, in short, what are your duties when working with a tax advisor? Because: Working with the tax advisor equals saving money. There are four areas where you should work cleanly.
Wages, registration, health insurance, etc.
In theory, the tax comes first, determined by the monthly accounting. But for us, one thing is more important: your employees! Because only through good teamwork can you get good results with your company. So, for us, first and foremost, wages, health insurance, and other responsibilities guarantee a good and effective team.
The focus is on the presentation of salary data, always on the 15th of the month. In the middle of the month? Yes, exactly, because payroll data must first be processed, often by external payroll offices, which are in turn commissioned by your tax advisor. This is especially the case in smaller tax offices when the necessary personnel resources are unavailable.
Every entrepreneur has many things to do and decide when opening his business, whether it is a sole proprietorship or a company under commercial law. Investing your resources and time increases the risk of losing sight of the business idea.
In particular, investors who expand into new markets abroad find themselves in a more difficult situation. A foreign environment from many points of view: the language, a new culture, a different mentality, and a legislative system are interpreted differently.
The services of an accounting firm guarantee you experience gained over time.
Here are some benefits of working with Tax advisor Vienna ( Steuerberatung Wien )
Experience
• In collaboration with state authorities;
• In relations with the financial and fiscal control bodies;
• In the application of legislative changes;
• In managing the crisis and deadlines;
• Minimize taxes;
• The choice of solutions that lead to profit maximization.
Low costs
• Without wage costs and taxes necessary for an accountant;
• Eliminating travel costs required by the authorities;
• Without any cost for space, furniture, computers, for the office;
• Without basic accounting expense programs;
• Living fines that can result from a lack of professionalism.
Liability transfer
• The responsibility for accounting evidence lies with the auditing firm;
• The auditing firm is required to have professional insurance;
• Archiving and retention of documents in secure circumstances is guaranteed;
• You can terminate the contract with the auditing firm when you are no longer satisfied.
Save time
• You have confidence in the ability of the accounting professional of the company, and you free yourself from daily monitoring by an accountant;
• Will focus on activities that bring profit and grow your business.
The idea of hiring an accountant has its advantages:
1. This is a person who is fully committed only to your company;
2. With an accountant you hire, you can have a closer relationship and together make the best decisions;
The accountant is the expert who manages companies and professionals’ accounting and tax situations, taking care of the correct execution of administrative and accounting processes.
