Tax accountant and financial consultancy firms offers tax management services to newborn or young companies who does not have the financial and manpower capacity to set up their own financial department. Most young businesses are dependent on the owner to provide financial guidance on the first few years of their operation. Since financial management is a very delicate and significant part of any business organization, business owners finds it better to hire the services of financial management consultant to run the financial affairs of the company. Financial management includes the power to manage the funds of the company, place its financial assets in investments profitable to the company, plans and execute expenses, control the inflow and outflow of funds, and oversee the management program of the enterprise. This is an important function of the company's finance officer. Systematizing and directing the company's tax system are vital to the growth and development of any company. Proper financial planning is a way by which a company survives the complexities of dealing and paying the right amount of taxes to the Internal Revenue Service.

Tax preparation for business is a method by which companies provide the process in estimating this that has to be remitted to the IRS based on the calculated earnings that they would receive at the end of the current year. The estimated tax will be based on the current year calculated income plus last year's actual revenue that was paid for the latter. Tax management is the proper application of current tax laws to the revenue that is earned during a given period but more importantly, tax management is also a process in the application of tax laws to allow businesses to reduce the amount of income for a specified period. Adjusting the gross income, increasing the amount of its deductions and the use of tax credits are three basic ways by which a manager can reduce the tax amount that a company would have to pay. Finding allowable expenses is one way to reduce the gross income of a company, knowing the current laws would enable a tax management expert to find additional deductions for the company and deductible tax credit can be derived from retirement savings plan, college sponsorship expenses, and donations given by the company are all tax deductible credits. Proper management of a company's tax system and an in dept knowledge of tax laws and regulation by a tax consultant will pave the way for a smooth relationship between the company and the Internal Revenue Service.