What is one skill or experience that makes for a successful tax advisor, specifically an Enrolled Agent?
To help you develop the right skill and experience as an Enrolled Agent, we asked business professionals and leaders this question for their insights. From listening and understanding client perspective to being a mindful thinker, there are several skills or experiences you can work on to be a successful Enrolled Agent.
Here are nine skills or experience to become a successful Enrolled Agent:
- Listen and Understand Client Perspective
- Develop Skills to Build a Good Rapport
- Visualize Tax Strategies
- Know Excel Tips and Tricks
- Learn to Manage Expectations
- Work in the Role for at Least 3 Years
- Improve Communication Skills
- Get Along With AI and Robotic
- Be a Mindful Thinker
Listen and Understand Client Perspective
No one likes to pay more taxes they need, but people vary in their approach to paperwork and tax complexity. Some people might prioritise safe and straightforward solutions they can fully comprehend, even if it translates to higher effective tax rates. Others may like to get personally involved with active tax planning, considering it a relevant business activity worthy of their time. Making an effort to understand where a client seeking tax advice is placed in this spectrum can make a significant difference.
- Michael Sena, SENACEA
Develop Skills to Build a Good Rapport
Your tax advisor looks for creative ways to legally save your money from the taxman. "Enrolled agents", are authorized to appear in place of the taxpayer before the IRS. You need to find someone you feel comfortable with and can trust as they will have access to some of your most private and personal information.
- Amit Raj, The Links Guy
Visualize Tax Strategies
Tax advisors often speak only in abstract terms, mentioning different thresholds and rules but not practical consequences. Explaining complex concepts with examples, graphs and simple to implement practices improves the quality of working with them. It also decreases the chances of clerical errors as their clients can understand their ideas instead of just memorizing them.
- Rebeca Sena, GetSpace.digital
Know Excel Tips and Tricks
A major skill that every tax advisor needs to have is Excel proficiency. You should be able to know all tips and tricks within Excel on top of the formulas. Reporting is key for an enrolled agent, being able to report within the Excel sheet will help you become a successful tax advisor.
- Michael Jankie, Natural Patch
Learn to Manage Expectations
A good tax adviser understands that competing priorities are unavoidable in business. As a result, they understand how to set and manage people's expectations, as well as how to meet or exceed those expectations.
A good tax counsel understands that competing priorities are unavoidable in business. As a result, they understand how to set and manage people's expectations, as well as how to meet or exceed those expectations. Tax can be seasonal, and there will be periods when you will be assisting a large number of customers in meeting their regulatory obligations at the same time. This means you'll need to improve your workflow management skills soon. You will succeed if you are always aware of the state of each task and can express this status to customers and other stakeholders at any moment. You'll also need to anticipate potential barriers and be ready to manage risks to ensure no deadlines are missed.
- Steve Scott, Spreadsheet Planet
Work in the Role for at Least 3 Years
A successful tax advisor, specifically an Enrolled Agent, should have previous experience as a tax professional. This will ensure that the tax advisor has the skills to be successful in his or her new role.
For example, if you wanted to become an Enrolled Agent yourself, you would need work experience of at least 3 years as enrolled agent, CPA, or attorney who prepared and filed federal tax returns. This experience would give you the knowledge and skills needed to provide tax advice to clients.
- Matt Miller, embroker.com
Improve Communication Skills
An enrolled agent must maintain regular contact with clients. EAs must be able to analyze their clients' requirements and come up with appropriate solutions. On the top, they are responsible for communicating with the Internal Revenue Service (IRS) on behalf of their clients. Now, if EAs lack appropriate communication skills in this area, they will be unable to meet the expectations of their clients when providing services.
- Kathryn Smithson, PathSocial
Get Along With AI and Robotic
Well, like any other industry, the taxation industry is going to experience the intervention of AI and robotics and if you don’t know how to get along with these technology partners then you’re going to be in huge trouble. From collecting data to filing a GST return, AI and robotics are going to be a part of every key tax advisory task. Some AI-driven tools are so smart they keep an eye on market trends and can predict the best investment options. Understand the fact you have to work with them and brush up your understanding of AI and robotics. It will make things better than ever and make you future-ready.
- Jonathan Tian, Mobitrix
Be a Mindful Thinker
EAs have a wide range of tasks, thus they need to develop critical thinking abilities as well. In order for EAs to represent the best options, they must evaluate current market conditions and make judgments based on forecasts of future market situations. EAs must be critical thinkers in order to come up with successful solutions for their clients. Predictive thinking skills also allow them to take action based on current data in order to advance their careers. With practice, EAs can become masters of mindful thinking.
- Danny Trichter, Accessibility Checker
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Learn more about the Enrolled Agent program at Scottsdale Community College!