How to go from being a tax consultant to a professional consultant

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Tax accountant* is a respected profession with great future prospects. The reason is obvious: on the one hand, most people in our society are very reluctant to deal with taxes, and on the other hand, german tax law is very demanding. So tax advisors are in high demand and will be more than ever in the future.

Due to the complexity of tax law, tax advisors have the additional option of specializing in one area and becoming a certified tax advisor in this area. To become a consultant. With a specialist consultant title, you are distinguished as a specialist in a tax law area and can make a career in this area. In this article we will show you why it can be worthwhile to acquire a specialist consultant title after the already long career as a tax consultant.

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What does a specialist consultant do?

A specialist consultant is nothing more than a tax consultant who works in a limited area, for example in the field of healthcare. So it is a classic continuing education within the profession of a tax advisor.

The main duties of specialist consultants typically include:

  • Advice and support on business management issues
  • Financial accounting
  • Salary and wage accounting
  • Accounting
  • Excess income statements
  • Tax returns
  • Examination of tax assessments
  • Support and advice on self-employment and starting a business
  • Wealth planning
  • Controlling and accounting

Accredited professional advisors have similar responsibilities to tax advisors, but in a smaller area in which they specialize. Especially in order to stand out from the crowd of tax consultants, it can be useful to be particularly well versed in a certain area. The title of specialist advisor shows the high standard of quality and indicates the corresponding specialization in certain areas of tax law.

If you have just decided on a career as a tax advisor or have recently been admitted as a tax advisor by the relevant chamber of tax advisors, you do not, however, have to start learning for further training again straight away. Your career is still long enough to develop further and pursue a different career path. In any case, your practical knowledge from everyday work will help you find the right path for you.

Becoming a specialist consultant: these are the requirements

In order to be allowed to carry the specialized advisor title, prospective specialized advisors must be first of all tax advisors. As a rule, you have to pass a 120-hour course and 3 written exams before the relevant chamber of tax advisors, work on 30 practical cases in the respective area and then prove your practical and theoretical knowledge in an expert discussion before the chamber of tax advisors.

If you continue your education, you can fall back on your theoretical knowledge from your studies or training. So you are not starting from scratch, but expanding already acquired knowledge. Once you have fulfilled all the requirements and passed the exams, you apply for the award and receive your title as a specialist consultant in your desired area of expertise.

Good to know: recognized expert advisors must complete at least 10 hours in annual continuing education in their area of expertise to remain certified as an expert advisor. If you do not do this, your title can be revoked – in this case you have to repeat everything in case of doubt. Many employers, however, allow the 10 hours of training per year to be completed during working hours or grant special leave for this, as for any other training. Finally, they also benefit from your specialist title and your particular expertise in the tax office.

Salary: what does a specialist consultant earn?

Becoming an official tax advisor is not only associated with increased knowledge and expert status, but also usually brings with it a jump in salary. Although tax consultants already earn comparatively well, prospective consultants can increase their income even further.

With the job title tax consultant (without title) you can earn an average salary of 6.000-7.000 euro gross per month, which is approximately 75.000 euro gross per year . But also salaries of over 10.000 euros gross per month is not uncommon in the tax industry.

For salaried tax advisors with a doctorate or specialist title, a salary premium of up to 20% is not unrealistic. You may earn around 20.000 euro gross per year more than tax consultants without title.

Which specialization should I aim for as a tax consultant??

As a recognized specialist consultant you are an expert in your respective field. With this you show your clients that you have exceptional theoretical and practical knowledge in a special field. Precisely because german tax law is so complex and extensive, you can jump-start your career with a specialization and ensure that you become a key contact in your favored field.

There are several ways to specialize, depending on which area you are most passionate about:

  • Expert rating consultant : before taking out a loan from a bank, it is important to know what the client's credit score is and therefore what terms are available to them. You therefore advise clients on how they should go about negotiating loans with banks and support them in doing so.
  • Specialist consultant for reorganization and insolvency administration : when things are very bad for companies or they may even already be insolvent, the people affected need legal support. A specialist advisor in this field knows the best options from an economic and tax point of view and knows what to take into account during a company reorganization or insolvency administration.
  • Expert consultant for execution of wills and administration of estates : you also need advice in the field of family and inheritance law. You explain to your clients, for example, how to execute the will of a deceased loved one. This is an area where special tact is needed to accommodate all parties and avoid disputes over inheritance.
  • Specialist consultant for company succession: here, tax consultants help with the decision on a successor for the management of the company and the associated tax and business changes in the company. Especially when family structures are involved, it can get very emotional. Therefore, as a tax consultant, you should keep a cool head and contribute to the solution with your competence.
  • Specialist consultant for mediation (mediator): as a mediator, your job is to resolve conflicts and help all parties reach a fair settlement.
  • Specialist consultant for controlling and finance : especially start-ups as well as small and medium-sized companies want advice on business management and commercial matters. Here's where you can help them as an expert advisor.
  • Wealth and financial planning specialist : you're interested in the future direction and investments of businesses? As a specialist consultant in this field, you will be able to draw up financial plans, examine the profitability of investments and negotiate with investors. Specialist advisors can also be active in private financial planning.
  • Health care consultant : in health care, you'll advise doctors on their specific area of business, billing, and health insurance benefits, for example. This field offers deep insights into the medical industry and its realities.
  • Specialist consultant for international tax law: if you specialize in international tax law, you will acquire practical and theoretical knowledge of international tax law so that you can advise your clients not only nationally, but internationally on the relevant regulations.

Conclusion

Becoming a specialist consultant can be worthwhile for tax consultants: in addition to better pay, with the above-mentioned title of specialist advisor, you are ideally equipped to make it in the tax industry. Unlike lawyers or doctors, a doctorate or a specialization is not yet widespread among tax advisors, so you can stand out from the crowd.

As a specialist consultant, you are particularly interesting for clients who are looking for a tax consultant in a specific area of tax law – and thanks to digitalization, you are not even tied to a specific location! So you can serve clients in your favored area throughout germany or even internationally and position yourself as an expert.

Curious? We at tax talents have made it our business to gather and bundle all the important information on the subject of taxes. On our platform you will learn everything you ever wanted to know about professions in the tax industry. And the best thing is: you can find the right job at the same time! So feel free to take a look around our job board as well.

* to keep the text easy to understand and straightforward, we have chosen to use the generic masculine, i.E. The masculine form of all nouns. However, we do not want to exclude anyone and therefore point out that despite the masculine form, all genders are meant. The tax consulting sector in particular is very male-dominated. We would definitely like to see more diversity in this professional field. Therefore: all genders are welcome!