Tax Accountant job description template Workable

tax accountant

Your opportunities for saving on your taxes will depend on your situation and how complex it is. If your main tax concerns are your job’s income and the interest on a savings account, you probably don’t have many opportunities to save. If you don’t have a good understanding of estimated taxes, deductible expenses, depreciation, and accounting for inventory, you should probably hire a professional who does.


Featured or trusted partner programs and all school search, finder, or match results are for schools that compensate us. This compensation does not influence our school rankings, resource guides, or other editorially-independent information published on this site. Accounting is the process of recording, summarizing, and reporting financial transactions to oversight agencies, regulators, and the IRS. The bookkeeper can also review your work periodically (e.g., quarterly) to make sure you’re recording your income and expenses properly and reconciling your bank statement correctly. The offers that appear in this table are from partnerships from which Investopedia receives compensation. Investopedia does not include all offers available in the marketplace. Samantha Silberstein is a Certified Financial Planner, FINRA Series 7 and 63 licensed holder, State of California life, accident, and health insurance licensed agent, and CFA.

Advisory Services

Wirecutter is the product recommendation personal accountant from The New York Times. Our journalists combine independent research with over-the-top testing so you can make quick and confident buying decisions. Whether it’s finding great products or discovering helpful advice, we’ll help you get it right . The Tax Cuts and Jobs Act of 2017 may lead to big changes in your taxes, especially if you work from home, live in a high-tax state, or have dependents. If the preparer is a CPA, you can also confirm that their license is active by visiting the website of your state’s Board of Accountancy and searching for their name. But if your situation is more complicated, working with a professional who has intimate knowledge of the tax code could result in serious savings.

  • This software helps you create a monthly budget and monitor your finances.
  • He began his professional career in editorial services in 2001 and…
  • He works with a variety of individuals and businesses providing tax compliance, planning, and consulting services, along with thought leadership in the industry.
  • They can assist clients or employers with most tax-related legal situations.
  • Tax Efficiency – A comprehensive view of tax helps you optimize business outcomes and lower overall costs.

Some accountants charge a flat rate, some charge by the hour, and others may base their fee on your anticipated refund. Provide a copy of last year’s return and ask for an estimate of their fees. Let them know about any special circumstances that affect your tax situation this year, such as marriage or divorce, purchase of a rental property, or the start of a new business. If they charge a flat rate, make sure you know what is included in that fee. For example, if you receive a notice from the IRS questioning the income or deductions claimed on your return, is responding to that notice included in the fee, or is that a separate charge? And we recommend avoiding an accountant who charges a fee based on your projected refund, as that fee structure may incentivize the accountant to try to beef up your refund with inappropriate deductions.

Sign up to receive news and updates from untied:

You need tools to do the work and produce all the necessary forms. From document management solutions to e-filing assistance, tax software should make your operational duties easier, more productive, to do your job with confidence every time. For most new tax preparers, learning the ins and outs of the business means acquiring an entirely new professional language. In some cases, this know-how comes in the form of certification. But finding a platform that can boost know-how and assist you with knowledge gaps is critical to success. You may be able to deduct any fees paid out for an accountant in your tax return. An accountant hired for filling out your self-assessment tax return will do exactly that.

This is generally because th’re easier to prepare and, honestly, easier clients to get. For some preparers, staying 1040 focused is a career choice, doing a little bit of business work as it arises from current clients. Depending on your situation, you might want to hire an enrolled agent, a certified public accountant , or a tax attorney. If you’re trying to hire a tax preparer in the middle of a busy tax season, it might be difficult to find someone willing to take time out of their day to sit down with you for a lengthy interview. However, most of them should have time to answer a few questions over the phone, and as White said, it’s important to look for someone who is helpful and informative. For taxpayers whose returns include income from a business, rental property, or farm, the average preparation time jumps to 25 hours, 12 of which they spend on record keeping alone.

Tax affairs running adrift?

There are some clients that I’ve been working with for several years now and there is something truly rewarding and humbling when they call asking for your opinion on various matters and truly value your insight. Factors like location, industry, and experience level can influence individual earnings. In general, accountants working in the private sector in metropolitan areas tend to earn the most. Explore common qualifications, job duties, workplace roles, and professional organizations in this guide. James M. Tobin is a writer, researcher, and editor specializing in student reference and academic research materials related to technology, business, finance, law, and the humanities. He began his professional career in editorial services in 2001 and… This free cloud-based platform also lets you track your personal finances as well as pay your bills online.

  • Your bank account and credit card statements may be wrong and you may not discover this until it’s too late to make corrections.
  • Most taxation specialists major in accounting or a related field like economics or finance.
  • James M. Tobin is a writer, researcher, and editor specializing in student reference and academic research materials related to technology, business, finance, law, and the humanities.
  • Tax Consultation Schedule a call with a member of the team to discuss your tax & residency position.
  • Meet work experience requirements and be licensed by the state they practice in.
  • Determine whether you should declare your income in the UK, IRL, FR, ESP, AUS, NZ or SA in just a few moments, using our online residency test.

While other tax firms over charge you for a basic tax return, this is not who we are. We believe everyone – from the student to the affluent – should have access to the highest quality of work while being within your means. Tax Affinity are qualified Accountants able to assist in all financial requirements for a partnership business.