Tax Advisor: When Do You Need Help, and How Much Does It Cost?

Not every taxpayer needs a tax advisor. Often, filing a tax return isn’t mandatory, or it can be easily handled without help due to the limited amount of information required. But when should you start looking for a tax advisor? And what costs can you expect for tax consulting services? As tax advisors in Düsseldorf and Oberhausen, we’d like to address these two questions in the following article to help you make an informed decision.

When do you need a tax advisor?

The simple answer to this question would be: Whenever you can no longer handle your tax matters on your own. To answer this question for yourself, you need to realistically assess what expertise you have and whether it is sufficient to handle the specific tax task at hand. When considering whether you need a tax advisor, the tax return takes center stage, as it involves the greatest amount of effort. A good indicator is the scope of the information that must be provided in the tax return. For taxpayers who can or wish to deduct very few expenses, a tax advisor may not be necessary. However, as soon as a lot of different information needs to be provided, a tax advisor is advisable. When this threshold is crossed depends on how much expertise you have. Additionally, you must always consider how much time you are willing to invest in your tax return.

Based on these criteria, several situations can be identified where a tax advisor is generally advisable or necessary. These include:

• Taxpayers who are self-employed or operate a business
• Taxpayers with multiple sources of income
• Taxpayers with income from abroad
• Taxpayers who have received an inheritance

Ultimately, it is a personal decision for each taxpayer. Nevertheless, we are convinced that it is rarely worth the significant effort of handling tax matters without assistance. Most taxpayers are better off investing a little money to receive an error-free tax return from a professional without the stress.

What does a tax advisor’s service cost?

When deciding for or against a tax advisor, costs are understandably always a factor. We would therefore like to briefly address this topic. The costs for tax consulting are always individual and depend on income and the scope of the respective service. The basic fees are set forth in the Remuneration Ordinance for Tax Advisors. Tax advisors have some leeway in this regard but must adhere to legal guidelines. Since the costs for a tax return always vary, we cannot provide specific figures here. To get a rough idea of the costs, you should speak with a tax advisor and seek their advice.

Tax Consulting in Düsseldorf and Oberhausen

We hope this article has helped you make a decision. Are you looking for a qualified tax advisor? With our offices in Düsseldorf and Oberhausen, we are the ideal partner for all tax matters. Contact us to schedule an initial consultation and get an idea of the costs involved.