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Discussing Public Accounting Practices - Taxation

Written by AnonymousAugust 2, 2011

Whether an accounting firm is one of the Big Four, a mid-sized firm, or a small, local practice, tax-related work usually represents a significant portion of billings for most public accounting firms. Tax work involves the preparation of both federal and state tax returns for individuals, partnerships, and corporations. Accountants who specialize in taxation are typically Certified Public Accountants (CPA). Given the constantly changing tax laws and the increasing complexity of accounting and finance regulations in the business world, the demand for knowledgeable tax professionals remains high. Accountants who specialize in taxation are professionals with expert knowledge of current tax laws and regulations. They’re experts at preparing tax returns that adhere to all federal and state tax laws while leveraging all available tax benefits for their clients. Tax professionals must constantly refresh their skills and training in order to stay on top of current tax rules and regulations. Tax Accountants are indispensible resources for businesses and individuals alike.

A CPA who specializes in taxation may provide a number of services to clients, including tax planning, tax return preparation, filing of tax returns, estate planning, and providing clients with tax advice and representation in the event of an audit. Because tax-related laws and regulations are becoming increasingly complicated, more people are turning to tax professionals for help when preparing their tax returns.

In the first year of working as a tax professional in a midsize firm, a CPA can expect to earn between $44,250 to $54,500 per year. This range increases to $64,500 as the tax consultant reaches a third year at a firm. A Senior Tax Accountant CPA generally earns $63,000 on the low end and $82,250 on the high end. Managers tend to make between $80,000 and $104000, while Senior Tax Managers or Directors earn between $96,500 and $143,000, not including bonuses and incentives.