Requirements To Become a Tax Accountant
Become a Tax Accountant
Do you know what a tax accountant does? If you don’t, you could end up paying more taxes than you need to or getting into legal trouble. Basically, tax accountants work independently with clients to create tax return documents that comply with tax laws and regulations and are prepared for auditors. They work closely with their clients before tax season to arrive at a strategy that will assist them to reach their financial objectives and results. A CPA can help you with that!
There are many reasons why tax accountants work independently. Perhaps you run a business and need to understand the ins and outs of your tax laws or would like to become more knowledgeable about tax laws. Perhaps you just want to be sure that all of your tax return documents are prepared correctly this year so that you don’t get hit with any unexpected surprises come tax season. Whatever the reason, tax accountants are there to help you. Here are some tips to hiring a tax accountant:
Hire from a Bachelors Degree Accounting Firm If you have a bachelor’s degree in accounting, such as an MBA, you can find some great tax accountants that are willing to work by your side. You may already have a degree in business or accounting and would like to utilize your knowledge to become a tax accountant. If you do, tax accountants that have a bachelors degree will have an even greater edge over those who don’t. With a bachelors degree, you can leverage your business knowledge and current job skills to prepare your tax return documents and provide support to your clients.
Requirements To Become a Tax Accountant
Partner a CPA or Become a CPA Partner As you’re looking for tax accountants to hire, you may want to consider becoming a CPA yourself. A certified public accountant or CPAs have completed an accredited college degree, have passed the state board exams, and have at least four years of experience in tax accounting. This means they have at least a two-year post-high school degree, which means if they were out on their own in the professional world, it wouldn’t take them long to get a CPA license. You’ll need to pass the CPA exam, but it isn’t the end of the world if you don’t have a CPA license because after you graduate, CPAs can either go into business for themselves or work for accounting firms that offer tax accountants a career in training and development. Keep in mind, becoming a CPA requires a four-year degree as well as years of hands-on experience in the field.
Work Experience It’s important to note that tax accountants work not only with individuals, but also with companies. Some work directly for the IRS, while others prepare financial statements for financial companies such as corporations. They prepare and update financial statements that account for income and expenses for businesses. CPAs prepare these statements and reports from clients, send out the information to various taxing agencies, and then prepare the tax returns that are necessary to meet the deadlines set by each entity involved. If they can get in touch with the proper tax accountants, they won’t have to do much work, but it never hurts to know what kind of outside help they might be able to get.
Education If you want to become a tax accountant, you’ll need to finish a bachelor’s degree in accounting at a community college or some other accredited university. Then you’ll need about eight years of completed education, including a junior year of college. Many colleges will allow students who have completed their accounting requirements to continue and earn an associate’s degree while working toward their bachelor’s degree. There are also many Certified Public Accountants (CPA) programs that are available through universities and colleges, as well as online schools. Some states, such as Tennessee and New Jersey, require people to be licensed before they can sit for the CPA exam.
