The entry level tax job is perfect for new graduates looking to break into the field, as well as professionals with a broad range of experience that have limited tax skills. Regardless of where you are in your career, you can use our job postings to find a new opportunity that aligns with your experience and aspirations.
If you’re looking for a career in accounting, then you’ve come to the right place! We’ve got everything you need to know about entry level tax accountant jobs.
When you’re just starting out, it can be hard to know where to start. So we’ve gathered everything from junior tax accountant job descriptions, to salary information and more.
WHAT IS A TAX ACCOUNTANT
The primary role of a tax accountant is to help clients and companies with their financial and income tax statements. He/She prepares payments, identifies tax savings, and analyzes tax issues. He/She evaluates and verifies tax forms filled by clients to ensure accurate completion. Furthermore, he/she consults with clients to gather personal information on potential deductions, educational grants, or allowances. Additionally, he/she reviews financial statements, expenses, and previous tax returns to identify how best to complete future returns. Also, he/she analyzes tax regulations and recommends policies that reduce the tax burden.
Most tax accountants hold at least a bachelor’s degree in accounting or a related discipline. Applicants are required to have at least three years of experience in a similar role. Having a certified public accountant license is a plus. You must possess analytical, attention to detail, communication, and math skills. Tax accountants earn an average salary of $63,809 per annum. This ranges between $45,000 and $91,000.
There is more than meets the eye when it comes to being a Tax Accountant. For example, did you know that they make an average of $29.36 an hour? That’s $61,060 a year!
Between 2018 and 2028, the career is expected to grow 6% and produce 90,700 job opportunities across the U.S.
What is an Entry Level Tax Accountant?
Entry level tax accountants are responsible for managing the books of their employer. They work with clients who have questions about their taxes and make sure everything is done correctly. This includes filing taxes with the IRS, state government and other agencies as needed.
They also work closely with clients on tax planning strategies that help them reduce their tax burden as much as possible given their income level and personal situation (like having children).
What Does a Tax Accountant Do
There are certain skills that many Tax Accountants have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed Computer skills, Interpersonal skills and Analytical skills.
How To Become a Tax Accountant
If you’re interested in becoming a Tax Accountant, one of the first things to consider is how much education you need. We’ve determined that 72.0% of Tax Accountants have a bachelor’s degree. In terms of higher education levels, we found that 15.9% of Tax Accountants have master’s degrees. Even though most Tax Accountants have a college degree, it’s possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a Tax Accountant. When we researched the most common majors for a Tax Accountant, we found that they most commonly earn Bachelor’s Degree degrees or Master’s Degree degrees. Other degrees that we often see on Tax Accountant resumes include Associate Degree degrees or High School Diploma degrees.
You may find that experience in other jobs will help you become a Tax Accountant. In fact, many Tax Accountant jobs require experience in a role such as Staff Accountant. Meanwhile, many Tax Accountants also have previous career experience in roles such as Accountant or Senior Accountant.
The Role of Tax Accountants
Tax laws often undergo changes and can be complex. Tax accountants ensure that companies and individuals comply with tax laws by filing their federal and state income tax returns. Some tax accountants also offer tax planning advice to help businesses and individuals save money in taxes. A career in tax accounting is challenging, but also rewarding. A tax accountant career requires following a specific education and career path. It is important to understand the job requirements.
Tax Return Preparation
Self-employed tax accountants and those who work for accounting firms specialize in assisting clients with tax return preparation. Tax accountants meet with clients to assess their financial needs. Part of the meeting consists of gathering needed documentation, such as pay stubs, investment income statements and other financial documents, according to Study.com. Tax accountants must maintain familiarity with tax laws. They often look for tax deductions and credits for their clients and determine how much tax is owed.
Tax Planning
Nearly every corporate business decision leads to tax ramifications, which can be quite complex in nature. Companies that do business internationally may experience further complexities. This leads to growing needs for tax planning professionals. Some tax accountants choose to specialize in tax planning. The primary objective is to develop a strategy around the client’s financial situation to minimize income tax, according to the Bureau of Labor Statistics. Corporations hire internal and external tax accountants to develop long-term plans that save the company money in taxes over time.
Tax Accountant Education
Most tax accountants earn a bachelor’s or master’s degree in accounting, and new graduates seek internal taxation accounting positions or jobs with public accounting firms. You can enjoy a competitive edge over other candidates if you are ready to take the certified public accountant (CPA) exam upon graduation. CPA requirements vary per state, but in most states you must obtain 150 college credits to sit for the exam. Some tax accountants go on to become directors and partners within their firms.
Good and Bad
Tax accountant jobs often appeals to individuals who enjoy working with numbers, solving problems and meeting challenges. Tax accountants do more than prepare tax returns. They should possess a thorough understanding of tax laws. If you like a fast-paced work environment and enjoy research, you might consider a tax accountant career as a good choice. The downside is that tax accountants work long hours, especially during tax season. The deadlines can seem overwhelming to some people. Entry-level tax accountants also face a steep learning curve.
