Difference Between an Accountant and a Tax Agent

One of the most commonly confused terms in the field of finances and accounting is the difference between an accountant and a tax agent.

Specially, when the tax filing season comes up, we tend to get disguised by any of these as our agents who can help us with our tax filling and reduction matters. Well! Here is a clear cut demarcation between both these important ingredients of the financial world.

First of all, one needs to understand that despite of the common belief, both these entities aren’t the same thing. Similar to the differences between the various cultures in India and the mysterious profession of different types lawyers such as-criminal, family, property, etc. There are different types of accountants as well.

Accountant

The title accountant is often suitable for any individual who holds his qualification in the subject of accounting. They often appear as a guide in tax and accounting services. However, similar to the doctors and lawyers, even the accountants are of different types such as- management accountants, tax accountants, financial accountants, cost accountants, etc.


Tax Agent

However, a tax agent is primarily an accountant who is registered under the Tax Practitioners Board and similar to the BAS agent they need to mandatorily hold the minimum qualifications and experiences as prescribed. They also need to have the specific insurances in place and keep mandate maintenance of their knowledge through continuous professional education. They are the professionally qualified folks who can help you with your tax and bookkeeping services and also guide you on saving the hard earned money that is often lost under the umbrella of taxes


Therefore it is very important to understand the basic difference between the two.



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