Tax Accountants
Overview
Introduction
Tax accountants prepare tax forms and returns for businesses and individual clients. Many specialize in preparing taxes for corporations or nonprofits, or for particular industries, such as banking, real estate, insurance, health care, or other types of businesses. Some tax accountants are experienced in preparing tax returns for high-income individuals. Tax accountants are knowledgeable about business practices and government regulations, and advise their clients on steps they can take to reduce their tax liabilities. According to ...
Quick Facts
Median Salary
Employment Prospects
Minimum Education Level
Experience
Skills
Personality Traits
Earnings
Tax accountants with up to two years of work experience earned a median salary of $57,480 in August 2020, as reported by Salary.com. The lowest 10 percent earned $46,858 or less and the highest 10 percent earned $70,079 or more. Those with more experience earn higher wages. The Department of Labor reported that accountants employed in the United States in May 2019 earned median salaries of $71,...
Work Environment
Tax accountants spend much of their time working in corporate offices and also from home offices. They travel for meetings with clients and also spend some time consulting with other accountants, auditors, and financial professionals. They work 40 hours per week but often put in long days to meet deadlines for quarterly tax filings. The weeks leading up to tax season also mean longer work hours...
Outlook
Tax accountants that work for medium to large firms will have better employment opportunities in the coming years than those who work for small firms. In 2020, the coronavirus pandemic affected many industries, including the accounting industry, with many businesses closed or reopened with reduced staff and new protocols for client meetings and conferences. Tax accountants will continue to be n...