4 Ways Tax Advisors Help You Save Money

Clint Weeder

Business tax planning, investment advisory services, business valuations


No one likes thinking about tax season. Between the paperwork and the payment of your hard-earned money, it’s no wonder that many people put off tax filing until the last moment. While it may feel that delaying the inevitable will save you time, it certainly won’t save you money. In fact, if you’re among the many Americans who struggle to make sense of complicated tax codes, it may actually cost you a significant amount.

For this reason, and many others detailed below, a tax advisor is a worthy investment. As noted in Forbes, “you don’t have to be a fortune 500 company or a multi-millionaire to take advantage of tax planning and the serious tax savings entailed.”

Of course, diving into the tax planning world can be easier said than done – especially when you’re juggling multiple sources of income or many personal assets. A tax advisor could be the perfect solution, so here’s everything you need to know. 

What is a Tax Advisor? 

It is a truth universally acknowledged that taxes are complicated. Between legal jargon, endless forms, and multiple sources of income throughout the year, navigating the filing process without amassing fines and errors can feel impossible. Fortunately, just like other complicated areas of studies, the financial industry is filled with experts who have devoted their careers to mastering the art of saving money. If you choose to hire a tax advisor, you’ll add to your team a person who is passionate about your financial goals. They’ll also have the know-how to help you achieve them!

Specifically, a tax advisor is highly trained in tax accounting and law. While they’re often trained as accountants, a relationship with a tax advisor differs slightly from that with a traditional CPA. While a standard accountant typically helps with a single project or tax season, tax advisors become invested in your long-term goals. They’ll create plans and ensure that each step of the way, you’re saving as much money as possible. 

For some, a tax advisor may just be dismissed as another expense, however, the investment you make in a financial expert will quickly pay off in the savings you accrue. 

How Can a Tax Advisor Help You Save Money?

1. Strategize how to minimize the taxes you owe

The entire job of a tax advisor rests heavily on their knowledge of current laws and regulations. This means you can trust that they’ll approach your case with the most relevant information. With the help of a tax advisor, you won’t have to worry about overpaying due to a lack of awareness about new exemptions or qualifications for your business or assets

At its core, the field of tax advising exists to help clients like you pay the least amount of tax possible, with the least risk possible, within the bounds of the legal tax code. 

2. Receive advising year-round, not just end-of-year

It never hurts to have a CPA examine your finances as tax season approaches, or you wrap up a financial quarter. Many turn to financial advising at the end of the year, as the time of resolutions is around the corner and everyone wants to feel like their financial future is in check. 

With a tax advisor, however, you don’t have to wait for a yearly checkpoint to justify a check-in. Once you make the decision to partner with a financial professional, they will familiarize themselves with your case and be ready to offer advice whenever you need it. You don’t have to wait for a financial crisis to receive financial solutions from someone who cares about your situation.

3. Help build wealth management plans

When you typically turn to an accountant, you might simply be worried about making it through tax season without pulling your hair out. While we can certainly appreciate living in the moment, investing thought into your financial future can lead to large pay-offs. When a tax advisor becomes familiar with your financial situation and personal goals, they can help you to design and execute wealth management plans. 

These plans are incredibly useful in ensuring that your hard-earned money is used and passed on in the way that you want it to be. You’ll be able to enjoy the money you’ve worked for more when you feel confident in its management and longevity. A financial professional will take your largest goals and translate them into doable and documented plans. 

4. Bring protection and prosperity to your business

If you own a small business, you’re even more familiar with how complicated tax season can be. The last thing you need to be worried about is tax fines or losses as a result of improper financial planning. Your personal tax advisor can also help you manage outside assets, such as your business. Beyond filing income and keeping track of expenses, your advisor can use their know-how to offer input on how to manage your business effectively and lower routine expenses. 

Beyond that, the headache of payroll management will be relieved when you have another financial brain on your team. With each of these steps, you can rest assured that the tax advisor you bring into your life will be invested in your personal success and business outcomes. As opposed to a one-off contractor, these individuals will delight in your successes and see the business grow alongside you. 

McMill CPAs & Advisors

If you’re ready to take control of your financial future and conquer tax season in Norfolk, Nebraska, contact McMill CPAs & Advisors today. Our team of wealth management and tax planning professionals is ready to add you to our list of success stories. Our heart is in our community, and we take pride in helping families and small businesses thrive through smart financial preparation. 

You don’t need to wait until tax season or the end of the year to give yourself a financial refresh. Bring a McMill advisor on your team and start growing your financial confidence and success!