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Experience Definitions - Tax Preparation and Tax Advisory Service

Tax preparation includes federal, state, or local tax returns. Tax advisory service includes analyzing financial and tax problems, formulating solutions and making recommendations designed to provide advice on taxation for clients ranging from individuals to business. A tax advisor helps an entity translate personal and/or business goals into targeted action steps designed to maximize the entity's tax position. Tax planning helps clients understand the tax effects of each financial decision. Candidates' experience in tax preparation and tax advisory services may include participation in preparing and/or advising on:

  • Federal and state individual income tax returns;
  • Federal and state corporation tax returns;
  • Tax consequences of acquiring existing businesses and business assets;
  • Reorganization of corporations and partnerships;
  • Estate tax planning;
  • Individual and corporate tax planning (including federal, state, and local taxes);
  • Tax ramifications of corporate and real estate transactions;
  • Personal financial planning for individuals including client employees and executives;
  • Income tax planning for executives including employee compensation and benefit plans;
  • Investment planning;
  • Tax efficiency of proposed gift and charitable contribution programs;
  • Tax impact of income and deductions, contributions, major purchases and investments;
  • Programs for planning for college;
  • Retirement planning programs;
  • Estate planning including preparation of wills, trusts, etc.;
  • Representation of clients in tax negotiations and disputes with the IRS;
  • Representation of clients in IRS, State, or local audit;
  • Property tax assessments;
  • Succession planning;
  • Tax advice to executors and trustees;
  • Tax credit reviews to determine maximum allowable credits (e.g., research and development credits);
  • Trade and customs services - ensures compliance with trade laws and regulations while trying to avoid, reduce, or defer overall customs duties;
  • Transfer pricing studies and evaluation, documentation, and modification of existing policies;
  • Valuation services; and
  • Value Added Tax (VAT) Services.

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