THE ROLE OF FIDUCIARY ACCOUNTANTS IN TAX PLANNING STRATEGIES
Abstract: Fiduciary accountants play a crucial role in tax planning strategies, helping organizations optimize their tax liabilities while ensuring compliance with regulations. This study aims to (1) analyze the role of fiduciary accountants in developing tax planning strategies, (2) assess the effectiveness of these strategies in minimizing tax liabilities, and (3) identify challenges faced by fiduciary accountants in tax planning. A survey research design was employed to collect data from fiduciary accountants engaged in tax planning. The sample size of 200 participants, determined using Taro Yamane’s formula, ensures a representative dataset with a 95% confidence level and a 5% margin of error. The case study focuses on a leading tax consultancy firm in Lagos, known for its innovative tax planning services. The reliability coefficient score for the survey was 0.88, indicating high reliability. Findings reveal that fiduciary accountants significantly contribute to effective tax planning, but they face challenges such as complex tax laws and frequent regulatory changes. The study recommends that organizations support fiduciary accountants with advanced tax planning software and continuous professional development to navigate the evolving tax landscape.
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