Education Career Articles

Connect Facebook Connect Twitter Connect Google+ Connect Pinterest Connect Stumbleupon

Tax Accountant Salary Information

Career News November 15, 2013

The prospects and profit potential in tax accountancy is certainly promising. If you are interested in numbers and have an affinity for detail, you may excel in this challenging profession. Prediction is a risky thing when glancing out into the future, so before making a move, plan your future and research the career path.

In terms of history, understand the federal government has repealed only one tax in the past 226 years, and that was to finance the Spanish American War. It was finally repealed just before the first Gulf War. Aside from that, the taxes are on the books, and it is a fair bet that tax accountants’ services will be needed, for decades to come – a stable career, to say the least. Computerization should not be a job killer in the future, since the law’s complications require human input to use discretion in analyzing evidence and statements.

Salary and Education

The U.S. Bureau of Labor Statistics (BLS) reports that accountants, examiners, and auditors made a mean annual salary of $71,040 in May 2012. The BLS predicts that employment for accountants and auditors is going to increase 16%, far above the national average, from 2010 through 2020. This increase is because of the growing economy, new tax laws, and the need for accountants to examine financial documents and ensure greater transparency in financial reporting.

The road to becoming a tax accountant is a long process. The minimum educational requirement for a tax accountant position is usually a bachelor’s degree in accounting. States and employers often require additional education in the form of additional class work, certification, work experience, and/or a master’s degree. Alternate degrees that can lead to a career as a tax accountant include a specialization directed towards accounting and business administration.

A Gamut of Identifications

You can work for a company, a state or federal governmental operation, or work independently. Tax accountants primarily assist employers or clients with the filing of their state and federal taxes. While most firms typically hire accountants, some accountants find their own clients and are self-employed. A tax accountant meets, with each individual client, to determine his or her needs. Some clients want their taxes done for them, while others merely want a tax related question answered.

When an accountant files taxes for a client, he or she must request all of their necessary information, including pay stubs, financial documents and anything else that could be used for deductions. Once all that information is collected, the tax accountant looks for any deductions and analyzes them. This is where a tax accountant earns the fee and determines, verifies, and explains about the amount of taxes owed, to the client.

The tax account is a focused individual who needs to be abreast of the latest laws. The mean income of about $71,000 is well-earned because there will often be the need to study new laws or accounting procedures. One other drawback is that from late January until around May, you are consumed by the job because it is the peak season. Depending on what you are willing to put into the job, the average salary might amount to much less. The positives about this occupation are job stability and the potential for long-term mid-level salary.

Searching Searching ...

Matching School Ads
3 Program(s) Found
  • Which career path will you take – Business, Nursing, Education, Psychology? Something else? GCU offers more than 100 majors to get you started!
  • Colangelo College of Business: Features more than 25 programs from the bachelor through the master's level, including several high-demand MBA programs and an accelerated accounting degree.
  • College of Nursing and Health Care Professions: Rich 25-year history providing outstanding health care and nursing degree programs, including an RN to BSN program & master's in nursing degrees.
  • College of Education: Whether you are looking to start or advance your career as a teacher or administrator, GCU offers bachelor’s and master’s in education degrees in key areas.
  • College of Humanities and Social Sciences: Provides a job focused education and features a variety of programs from counseling and psychology to justice studies, history and English literature.
  • Does something else interest you? GCU also offers programs in Doctoral Studies; Theology; Science, Engineering & Technology; and Fine Arts & Production. Speak with an enrollment counselor today!
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
3 Program(s) Found
  • Available business concentrations include Accounting, Economics, General Management, Marketing, and Human Resource Management.
  • Ranked among the Best Online MBA and Online Graduate Business Programs in 2016 by U.S. News & World Report.
  • Programmatic accreditation provided by the Accreditation Council for Business Schools and Programs (ACBSP).
  • Regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).
  • Online Courses
5 Program(s) Found
  • Kaplan University Online Degree Programs
  • Attend college on your terms. Kaplan University offers fully online degree programs that fit any schedule.
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits
3 Program(s) Found
  • Average class size is 25, allowing for more one-on-one time with instructors.
  • Has a 97% employment rate among available graduates.
  • All  graduates receive Lifetime Employment  Assistance—free and forever.
  • Michigan's largest independent college.
  • Most instructors are working professionals in the fields they teach.
  • Programs are continuously updated to ensure classes are career-relevant and in sync with what's needed in the industry
Show more [+]
  • Accredited
  • Online Courses
  • Accelerated Programs
  • Financial Aid

Searching Searching ...

Matching School Ads
3 Program(s) Found
  • Do you have entrepreneurial visions to advance your career in the business world? Learn about the options available at GCU.
  • Earn a competitive bachelor's or master's degree in the areas of business administration, business analytics, accounting, marketing and more.
  • Many of our business degrees have attained elite accreditation from the Accreditation Council for Business Schools & Programs (ACBSP).
  • GCU nurtures the startup spirit, propelling your entrepreneurial visions on a powerful platform with opportunities to help you thrive.
  • Pursue a next-generation education with an online program or join Grand Canyon University's vibrant and growing campus community in beautiful Phoenix, Arizona.
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
3 Program(s) Found
  • Available business concentrations include Accounting, Economics, General Management, Marketing, and Human Resource Management.
  • Ranked among the Best Online MBA and Online Graduate Business Programs in 2016 by U.S. News & World Report.
  • Programmatic accreditation provided by the Accreditation Council for Business Schools and Programs (ACBSP).
  • Regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).
  • Online Courses
5 Program(s) Found
  • Kaplan University Online Degree Programs
  • Attend college on your terms. Kaplan University offers fully online degree programs that fit any schedule.
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits
3 Program(s) Found
  • Average class size is 25, allowing for more one-on-one time with instructors.
  • Has a 97% employment rate among available graduates.
  • All  graduates receive Lifetime Employment  Assistance—free and forever.
  • Michigan's largest independent college.
  • Most instructors are working professionals in the fields they teach.
  • Programs are continuously updated to ensure classes are career-relevant and in sync with what's needed in the industry
Show more [+]
  • Accredited
  • Online Courses
  • Accelerated Programs
  • Financial Aid

Login to your account

Can't remember your Password ?

Register for this site!