08 Sep, 2017

Tax Accountant Salary

One of the main factors that influence career choices for many people is the expected salary. Accounting is one of the top rewarding careers for those with a quality education. Among different accountants including audit accounting, managerial accounting, and cost accounting, public accountants like tax accountants are the leading earners. A tax accountant job involves determining the amount of money that has been generated and the expenses. In accounting, tax accountants are said to be some of the highest earning professionals. A tax accountant salary depends on several factors like position, type of specialization, level of education, and experience. It is also important to note that the kind of employer you get also influences a tax accountant salary. To be a tax accountant, you need to have at least a bachelor’s degree, preferably in accounting or finance. Some employers may also require you to hold subsidiary qualifications like a Certified Public Accountant (CPA) certificates. This requires you to undergo reasonably broad coursework and training besides your bachelor’s degree. As a matter of fact, only California, Colorado, New Hampshire and Vermont states do not ask for the extra coursework usually 150 hours that is a must in the other states in the United States for you to become a certified public accountant. As a tax accountant, you are expected to prepare and analyze state and federal taxes on behalf of the employers or clients. You’ll be expected to make use of all the essential documents, to complete the essential IRS forms. This information is necessary in determining the annual taxes. Businesses and nonprofit organizations will often require a tax accountant to make sure that their annual taxes are calculated in an accurate way. Information from the Bureau of Labor indicates that approximately 24 percent of auditors and accountants deal in bookkeeping or tax preparation. On average, tax accountants take home around $36,720 to $102,380 on an annual basis. It is also important to note that a tax accountant salary is higher that that of other accounting professionals. The starting tax accountant salary for a bachelor’s degree holders range from $48,993 while masters degree holders take home around $49,789 according to the information collected in 2009.; Tax accountants usually enjoy the benefits relating to this customary career. Some of the most significant benefits include paid trips and vacations, life and medical insurance. According to information from the bureau of labor statistics, higher-ranking tax accountants enjoy additional, benefits like expense accounts and paid cars.