There are many types of tax consultancy services available for businesses. Some of the most common are consultants that handle property taxes, federal taxes and payroll taxes. Most businesses use software or accountants to cover these tasks, but software cannot always handle complicated tax laws. In addition, accountants can charge more money than you would pay a tax consultant in certain circumstances.

No matter what type of taxes you need help preparing, choosing the right business tax consultant is an important step in getting the help you need. Pricing and costs of tax consultants depends on many factors, some of which include:

1. The type of tax consulting your business needs.

2. Whether you hire a tax adviser for a single job or as a full-time consultant.

3. How much work your business has to do to fully process its taxes.

Action Steps
The best contacts and resources to help you get it done

Choose the right property tax consultants for your business

Many tax consultants work in conjunction with lawyers to handle questions and concerns about tax issues, and also to take legal action on property tax issues when necessary. Many property tax consultants charge contingent fees, plus a small standard filing fee, for any issues or complaints. Contingent fees can be anywhere from 10 to 25 percent of the total settlement.

I recommend: Property Tax Consultants handles all types of property tax issues that arise from property tax assessments. Property Tax Consultants, Ltd. has an array of property tax services tailored to business issues.

Find a tax consultant that works exclusively online

A tax consultant that works exclusively online can be very convenient for businesses, but there are some drawbacks. On one hand, working with a tax consultant online is the quickest way to get answers to your tax questions. On the other hand, consultants who work exclusively online do not have direct access to you or your company. It is a cost-saving option if you are on a budget, anywhere from $25 to $1,200 depending on the amount of contact you have with the consultant.

I recommend: OnlineTaxConsultant.com offers free and paid memberships to its service, so you can have access to a variety of CPAs in specialized tax fields to help you with all your questions. TaxHelpOnline.com provides tax consultants who can analyze your unique tax situation.

Hire tax specialists who can customize their services to your business

Tax professionals that consult on many tax issues tend to take the same approach for many situations. But if you want to best service for your business, look for tax consultant professionals that can customize their services to better help your business. Customized consulting can typically cost $2,000 or more per year.

I recommend: True Partners Consulting offers customized services to large multinational companies, all the way down to small businesses. Aviation Tax Consultants provides customized services exclusively to those in the aviation industry.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  If you need help with taxes for a specialized business, find tax consultants that have a background or interest in your line of work.

In business, you have to spend money in order to make money. And the more deductible expenses you have, the less you pay in taxes. The trick is in recognizing what's an allowable business deduction and what's not — and in keeping the right records. Deductions are only as good as the records you keep to back them up. Any expense you forget to deduct, or lose because you can't back it up, costs you dearly. Your strategy should include a basic record-keeping system, business checking account, appointment book, expense journal and support documents such as receipts. You'll need to track inventory if you make or sell merchandise. And if your business has employees, you need complete payroll and payroll tax records. Key small business deductions include:

1. Startup expenses: Some can be deducted immediately; others over 15 years. A special tax rule lets you deduct up to $5,000 in startup expenses your first year.
2. Business operating costs: These include all of the "ordinary and necessary" expenses you incur that are related directly to operating your business.
3. Hired help: This includes money you spend on independent contractors as well as employees.
4. Travel and entertainment: You can deduct a portion (usually half) of certain "business entertainment" costs.
5. Vehicle expense: Business use of your car can be claimed as a per-mile rate set by the IRS.
6. Retirement and medical deductions: Retirement plan contributions are a terrific small biz deduction. Plus, there are several ways to deduct the cost of health insurance premiums, depending on your business structure.

Business.com's "What Works for Business" blog is a great way to keep up with the latest solutions, trends and strategies for small and medium business — including other tax-saving tactics.

Action Steps
The best contacts and resources to help you get it done

Discover the latest tax saving updates for small business

Saving on taxes is often a matter of gaining access to the latest updates and changes.

I recommend: Small Business Tax News, a subscription service, is an excellent way to stay abreast of small business tax-saving strategies. Business Owner's Toolkit, a service of tax-specialist CCH, Inc., offers a huge amount of information and advice on business tax issues, available free online.

Head off sales tax trouble

New Web-based solutions make it simple for even a one-person business to compute and collect sales tax from anywhere in the country.

I recommend: Avalara offers Web-based sales tax compliance services for small business. The site has a free sales tax rate lookup and calculator.

Put IRS information to work in your favor

The IRS has a good small business Web site that is easy to navigate and covers every tax topic you can think of.

I recommend: Visit the IRS section for small business.

Bring in a tax-saving professional

A tax professional can help you sort out deductions and tax saving strategies.

I recommend: CPAdirectory.com lists CPAs nationwide. Find a tax pro by name, location or specialization. The site offers other tax-saving resources and advice.

Get lower-cost tax saving advice from former IRS employees

Enrolled Agents - many of them former IRS employees -- are federally licensed to offer tax-saving advice and prepare returns for individuals and businesses.

I recommend: To find an EA, visit the National Association of Enrolled Agents Web site.

Take an online small biz tax workshop at your own pace

The more you understand tax rules for small business, the less likely you are to miss deductions and overpay your taxes.

I recommend: The IRS Virtual Small Business Tax Workshop is designed to help new and existing small business owners understand tax rules. Online Learning and Educational Products from the IRS help you learn about business taxes at your own pace.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Other possible deductions include training costs, business gifts, association dues, advertising, bad debts, fees, licenses, insurance and interest on business loans.
• •  State governments are getting more aggressive in auditing businesses selling across state lines. Many are also changing the rules for what makes a business liable for charging sales tax.
• •  At last count, 45 states, 4,696 cities, 1,602 counties and 1,113 other tax jurisdictions in the U.S. impose a sales tax of one type or another - almost 7,500 total taxing entities. And in any given year these jurisdictions make an average of 3,000 changes in rates and regulations.
• •  To deduct expenses related to the business use of part of your home, you must meet these requirements: Your space at home must be used exclusively and regularly for your business or trade. Plus, the business portion of your home must be your principal place of business, a place where you meet or deal with patients, clients or customers in the normal course of business, or a separate structure (not attached to your home) that you use for your business.

Tax consultants education and training prepares a student to prepare individual and business tax returns. These individuals will learn tax law. They often have a strong financial background. Some individuals will obtain their accounting degrees with a focus on tax consultancy.

Tax consulting is a service required by virtually all businesses and many individuals. Continuing education is necessary to keep the individual up to date on the changes in tax code. When considering becoming tax consultants, individuals should keep the following in mind:

1. Learn the duties involved in tax consultancy including the business management aspects of the business.

2. Prepare to be a tax consultant early by taking accounting and finance courses in high school and as an undergraduate in college.

3. Find a tax consultant to study alongside, since working in their office can provide a foundation of knowledge on running a business.

Action Steps
The best contacts and resources to help you get it done

Get educated to provide tax consulting services

Tax consultants provide a range of services to their clients. To do so, they need to have the necessary information and training. Some schools offer a specialized tax preparation course. Others offer accounting courses with a tax focus. Consider all options.

I recommend: Northwestern University offers a tax program. Students there will learn tax law as well as how to cope with real world transactions. The MS Degree offered by John Marshall Law School prepares students to be tax professionals. This program is for non-lawyer students.

Provide business tax consultant services

Business tax consultants work to provide businesses with the resources needed to file taxes properly. They manage the day-to-day operations in terms of taxation. They ensure the business meets all tax laws and helps the business to minimize tax liability.

I recommend: Obtain state-specific and federal-government-specific education on proper business tax filing. Many state revenue departments offer workshops to business owners and new tax professionals. The Minnesota Department of Revenue offers a business tax education program aimed at educating individuals in tax preparation, tax implications and real world business tax information. Follow up training by staying up to date on federal tax laws. The Internal Revenue Service provides tutorials for federal tax preparation and step-by-step instructions for business taxation.

Obtain education for tax specialists in various fields

Those with an education in specialized fields of tax law provide a range of services. Real estate law, income tax law and specialized business taxation education are obtainable. Once individuals have a basic tax education, they may choose to specialize by taking additional courses and training.

I recommend: Find the right degree to help with taxes for clients. Payroll tax consultants obtain most of their knowledge through human resource training. The University of Illinois at Urbana-Champaign offers Human Resource Education including payroll training. Property tax consultants training may come directly from continuing education providers. Each state will list which education providers are acceptable for providing continuing education, such as the Texas Department of Licensing and Regulation. To provide income tax services, education may be available through third-party providers. Companies like H&R Block educate individuals to provide income tax preparation.