Let's start with the basics, who is a tax advisor, accountant, auditor, and tax lawyer? All of the above are financial experts with advanced training and knowledge of tax accounting, auditing and tax law. A tax advisor may also be known as a tax consultant.
Tax advisors in Italy are usually retained over a period of time in order to correctly identify the taxes payable while remaining compliant with the law in complicated financial situations of the country. Tax advisors can include Certified Public Accounts (CPAs), tax attorneys, enrolled agents, and some financial consultants.
What is the job of a tax advisor? A tax advisor is a professional in the financial field who provides advice on an individual's or company's financial strategies to minimize taxes owed while staying within the scope of the law and regulation of Italy. Tax advisors may be trained as accountants, lawyers, or financial advisors, or may work together as a team consisting of two or more types of financial professionals to bring about the best solutions for their clients. Regardless of training, Italian tax advisors should be knowledgeable and up-to-date in matters of all Italian tax law and state tax guidelines.
Anyone and everyone, individuals or physical entities, that face complex financial situations (eg, complex investments and deductions, Income Tax Audit etc.) can hire the expertise of a tax advisor to help correctly pay and minimize the amount of taxes to be paid to the government.
Depending on the taxpayer's individual situation, the advice and services a tax advisor gives out is different. For example, a freelancer starting their first year of work will get different advice than a corporate boss looking to retire. Likewise, an investor will probably have a different tax need than an entrepreneur.
Because the best tax advisors in Italy are well versed in tax laws and Italian Revenue Agency guidelines, businesses may retain their services to represent the businesses before tax authorities and courts in order to resolve issues relating to tax - this would be more along the lines of the services provided by a tax lawyer.
Tax lawyers understand the laws regulating individual and business taxes and are, therefore, instrumental in guiding taxpayers on how to comply with federal, state, and local tax laws.
Tax advisors like other professionals may work for an agency or be self-employed. Either way, they have the responsibility to their clients in finding efficient ways to legally lower tax liability, compute taxes on diverse investment portfolios, and find the right deductions and credits applicable, etc. They can also prepare and file tax returns for their clients.
Studio MG is a professional association of Lawyers, Chartered Accountants, Tax Advisors and Auditors. We offer our clients assistance in all fields of tax, legal and accounting advisory: we provide internal audits, financial management and business organization consulting, we study and analyze tax and legal operational strategies to both organizations and individuals, and we assist foreigners in settling down financially in Italy and the European Union.
Our team at Studio MG is composed of multidisciplinary, multicultural, multilingual and multi-jurisdictional individuals who provide services in both Italian and English. Our office is based in Milan, at Corso Vercelli 42 but our clients consist of Italian, European and global entities and we have specialized departments to help with the same. Our clients are natural persons, companies and organizations. We care about clients, and strive to solve their problems, effectively and efficiently.
If you would like to know more about our services, click here (https://www.studiomg.eu/en/contatti/) to contact us!