Should I Consider Becoming a Tax Accountant?

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If you are looking into the career field of tax accountancy, ask yourself a few questions before making a rash decision.

•Are you good with numbers?
•Do people depend on you for financial advice?
•Do you have like to do research?
•Are you detail oriented and can you communicate with others quickly and respectfully?

If you can answer yes to these questions then you are a good candidate to become a tax accountant.

What Do Tax Accountants Do?

A tax accountant prepares and examines financial records of individuals and businesses. They ensure records are accurate and taxes are paid correctly and on time. They assess financial operations and work to help ensure organizations run efficiently.

They prepare returns while making sure all records are reported within the legal regulations and laws. They inspect books and accounting systems to ensure efficiency and work under accepted accounting procedures. While organizing and maintaining financial records, they also make recommendations for the best accounting practices. They are well-versed with the definition of management accounts so they ensure everything goes well planned with no scope for mistakes.

They suggest ways to reduce costs and increase revenues to improve profit margins. They create written reports documenting important trends. They meet with clients to communicate their findings, though making major financial decisions are typically not within the job description.

These professionals can also audit and teach accounting. They can work from home, in an office, or with a larger corporation. They may be employed by a larger company or be self employed. Tax accountants can also work for the government in the title of forensic accountant. This type of accountant specializes in investigating financial crimes such as securities fraud, embezzlement, bankruptcies and contract disputes. They work closely with law enforcement, government and lawyers to discover the truth.

What Level of Education Do Tax Accountants Need?

According to the Bureau of Labor Statistics, it is preferred that applicants obtain at least a bachelor’s degree for this position. Some companies want workers who have experience working in an entry level position working under other accountants, as this gives them real world training. Work experience helps you acquire basic understanding of how accounting works and learn the language of accounting terms. It is also required that you become certified as a Certified Public Accountant (CPA).

The median pay is around $64,000 while the lowest 10% may make $40,000 and the highest 10% can make as much as $111,000. The pay depends on where you work and what the demand is. If you happen to become self-employed, salary depends on your clientele; whether or not you decide to meet some of your clients at their homes, or at a small business, or even travel to corporations to meet with clients on-site.

Get started by researching colleges of your choice. Look into financial assistance and see what the curriculum entails. Do they offer flexibility with scheduling and online classes that may meet your learning curve?

At the end of the day, you want to ensure you get the absolute best education available because it’s your future we’re talking about!