To outsiders, Real Estate might look like a get-rich-quick investment opportunity for any company or entrepreneur with a bit of cash. In reality, however, many people fail to account for the most significant source of stress in Real Estate: taxes. Poor accounting practices and bad bookkeeping can make you end up paying most of your profits as taxes, which is why both new and seasoned investors need Steuerberatung Immobilien from Real Estate Tax Consultants. 

We’re going to dive into their benefits and the services they provide down below, but we’re also going to list one of the most phenomenal benefits of hiring a tax advice consultant right here: 

They let you focus on your core business activities without having to worry about taxes.

What Services do Real Estate Tax Consultants Provide?

Whether it’s stocks and bonds or commodities, tax consultants everywhere offer the same basic service: these professional accountants help you prepare your finances, records, and tax returns so that you pay the least in taxes possible. However, when it comes to Real Estate, tax consulting offices do more than just be glorified accountants. 

They also provide strategic advice for your business, discover new investment opportunities, and, if required, even go so far as to represent you legally in front of administrative courts. Below, we’ve compiled a list of the services you’ll likely get from a professional real estate tax consultation office in Austria:

• Continuous Advice

You already know that a tax office helps you prepare your finances so that you have to pay the least possible taxes. That’s not where it ends, though: the best tax officers will also be reliable partners and a source of continuous Steuerberatung Immobilien whenever you need it. Because these guys know that every company has its own needs and problems, you’ll never get the tired old investment advice. 

Instead, you’ll get tips for tax optimization, measures for improving your business model where possible, and even advice for new investment opportunities you’re on the fence about. 

• Strategic and Future-Oriented Corporate Planning

Most of the taxes associated with Real Estate investment and management come from your company’s legal form, whether sole proprietorship, GesbR, AG, KG, GmbH, or OG. Changing your company’s legal form once decided might seem like a hassle, but in reality, you can get a lot of tax relief when you make the right choice in legal form. 

Non-binding consultations are another service provided by tax consultants, and if you make sure to ask, they can help you pick the proper legal form for maximum tax relief. 

• Preparing Annual Financial Statements

When you’re in Real Estate, your company’s finances are more or less how potential investors and investment opportunities will look at you. In a way, your company’s financial statements are your calling card. A tax consultation office will prepare annual financial statements, with additional business analysis containing graphs and statistics for a thorough overview of your business’s performance over the year. 

Keeping your financial statements clean and easy to understand makes you more appealing and gives you a comprehensive record of your finances dating back years. 

• Real Estate Tax Consultation

It might sound obvious, but most people do not pay enough importance to the consultation services themselves. After the introduction of Real Estate taxation in Austria, property sales now trigger several different taxes, not to mention land registry fees and land transfer taxes. If you don’t want to be fussing over the details for days and weeks on end, a tax consultation office can give you a quick overview of the fees and fines associated with property sales. 

• Legal Representation

That’s right. It’s not a service that all tax consultants provide, but the best real estate tax consultants will also provide you with legal representation in social security, financial, and tax matters. For example, if your company is facing a special sales tax audit, the consultant will be a firm, helpful, and above all, knowledgeable representative that you can count on. 

The best part is that in most cases, they’ll represent you before most authorities, like the regional health insurance fund, the Federal Finance Court, the tax offices, and even the administrative courts.

The Importance of Seeking An Initial Non-Binding Consultation

The Benefits of Initial Consultations 

Before hiring the services of a tax consultancy, though, you should take a moment and think about how you’re going to choose in the first place. Whether you’re in Austria, Germany, or even the US, there will be hundreds of options, so you need to have a set of criteria to ensure you don’t end up hiring the services of a substandard consultancy. And that’s where the idea of an initial, non-binding consultation comes in.

An initial consultation works like a demonstration, where you get a sample of how good the consultancy is at what they do. Whether it’s a real estate tax consultancy or a service that provides advice on investment opportunities, an initial consultation is essential for judging whether they’re a good fit for you and if the consultancy can provide your company with everything it needs. 

A Concise View of the Benefits

All of that probably sounded a little confusing. For your convenience, we’ve broken down some of the most considerable benefits of seeking an initial consultation into simple points down below:

• Initial consultations let you get a comprehensive demonstration of how good the consultancy is. 
• Secondly, it shows that the consultancy service is willing to do whatever you need to be entirely at ease. 
• The first meeting is often an excellent chance to discuss the fees and expenses charged by the consultancy, so you’re not ambushed by sudden prices later down the road during an emergency. 
• A consultation between senior members of your company and the real estate tax consultancy helps develop a familiar concept for cooperation and division of responsibilities if you end up hiring their services for yourself. 
• Lastly, it might be the case that you only need some of their services and not everything. For example, you might already have financial and tax lawyers on retainer. In that case, you can use an initial meeting to discuss which services you need and a pricing plan appropriate to them. 

And Why It Needs to be Non-Binding

The answer is simple when you think about it. Any consultancy not willing to demonstrate their services is either lazy or just simply bad at what they do. There’s also the fact that if you’re jointly working for your company’s future, you need to be able to trust their services. Having said all that, it shouldn’t be tough to find consultancies that provide an initial non-binding consultancy.

Final Words: Is A Real Estate Tax Consultancy Worth It?

In the end, the decision of whether you need Steuerberatung Immobilien from a tax consultancy or not depends entirely on you. If you can manage your real estate taxes just fine, then the investment might not be worth it. On the other hand, if you feel like you could be using your time better, a real estate tax consultancy can take that burden off your shoulders and leave you free to attend to important business matters. 

The appeal of these consultancies only grows when you realize that most guarantee they’ll save you far more money than they’ll charge in expenses!

Also read –The work of tax advisors