Businesses need tax advisors for several critical reasons:
Compliance: To ensure they are in compliance with tax laws and regulations, avoiding penalties and legal issues. Optimization: To identify and leverage tax deductions and credits that can reduce the overall tax burden. Strategic Planning: To develop tax-efficient strategies that align with the companyâs financial goals and business model. Mitigation: To manage and mitigate potential tax risks associated with various business activities and transactions. Representation: To represent the business in dealings with tax authorities and during audits.