Accountants in this field are responsible for preparing, filing, and settling taxes for an individual or company. While most tax accountants handle similar tasks, there are different divisions within this job category to keep in mind. You could find yourself in many areas of the work force if you decide to pursue a job as a tax accountant. Listed below are some tax accountant job descriptions that you could think over before you apply for work in the future.
General Tax Accountants
General tax accountants are the ones to whom most people go to when they need to file their taxes. Most of these professionals have a degree in accounting or finance, with a minimum of five years experience in the field of property management accounting. General tax accountants often prepare monthly management fee reports, daily cash reports, and monthly financial reports for their clients. All of these tasks keep the clients on a positive financial track at all times.
General tax accountants also handle 1099 forms, IRS tax filing, annual tax projection reports, and other tasks related to the taxation of a business. Most of them work in accounting firms, but some work as independent contractors for companies and individuals in their community. If you are unsure as to what specialization you may work with in the future, this will likely be the field you fall into.
A tax analyst mainly handles tasks related to domestic tax transactions. This tax accountant will prepare and file taxes on a monthly, quarterly, and yearly basis. He or she will also prepare clients for tax audits and assist them with audits if they arise. A tax analyst may act as a tax law adviser, helping others understand current tax laws and regulations. As a result, tax analysts must be up to date with tax laws at all times.
Typically, a tax analyst will have a bachelor’s degree in accounting or four years of equivalent training in the field. Tax analysts must be proficient on the computer, with an emphasis on Microsoft Excel. These tax professionals must be detail-oriented, with a high level of organization and customer care skills. If you are naturally capable of working with people and information simultaneously, this could be the career path for you.
A tax director is a tax accountant who handles a company’s tax planning, tax compliance, and tax accounting for the year. This person typically oversees other tax professionals while still interacting with clients and other tax directors. If you were to become a tax director, you would likely find employment in the financial management department of a company, or in a third-party accounting firm. Preferred candidates have master’s degrees in accounting, but those with bachelor’s degrees may qualify to work for certain employers.
Tax directors typically oversee tax audits at the state and federal level. They also work with the IT staff of a business to ensure the company’s tax preparation software is in compliance with the latest technology on the market. Tax directors work directly with company treasurers, vice presidents, and department heads to conduct financial transactions for the business. In essence, they are among the “top dogs” of the tax accounting world.
Tax Accountant Salary Levels
Tax accountants typically earn between $40,000 and $60,000 a year, depending on where they work and how long they have been on the job. Some tax accountants working for Big 4 accounting firms will make over $100,000 a year, but those earnings are rare. Most tax accountants start as entry level professionals, making $30,000 to $40,000 a year. Those numbers expand with experience. Some areas of the country have a higher demand for tax accountants than others, so you may have to look around to figure out what options are available for you when you pursue this career.
Becoming a Tax Accountant
If you think tax accounting is the right career path for you, consider getting a bachelor’s degree in accounting or higher. Most employers look for college graduates to fill their job openings, so you should see positive job opportunities if you have a degree in hand. You can go through your degree program online, so all you have to do is look for a school to attend. Then you can move through this career path with ease.
Popular Schools and Recommended Degrees
Liberty University Online
Liberty?s online degrees are taught in a flexible online classroom environment, so students can complete assignments on their own schedules. Many of the undergraduate and postgraduate degrees offered by Liberty Online can be completed 100 percent online using an 8-week delivery format.
Faculty are armed with a curriculum that is continually refined to focus on trends in business and place significant emphasis on bridging theory with practical application in the workplace. They provide situations and cases that allow experiential learning and practice. Further, our business courses emphasize effective writing and communication skills?key competencies to help you progress in your career.