As Tax season draws closer and companies begin to collect W2 information, Tax Accountants are becoming increasingly busy with their workload. Tax accountants help with the processing of tax documents such as financial statements, tax returns and sales tax.
Although Tax accountants generally work long hours during Tax Season, they might also see a reduction in the amount of business they receive throughout the year. Here are some pros and cons of Tax Accountant jobs:
1. Long Over Hours During Tax Season
Tax accountants generally work long hours during tax season due to increased activity within an office or firm. Since most Tax Attorneys and CPAs hire temporary workers for this period, you may be asked to come into the office on weekends or after business hours during Tax Season. Tax accountants may also have to work through lunch and stay late to ensure that all deadlines are met before Tax Day.
2. Variety of Tax-Related Work
Tax accountants learn a variety of tax-related work including tax planning, IRS audits and other financial services such as bookkeeping and accounting.
Tax accountants who specialize in personal or corporate taxes generally spend one-third of their time on tax returns while another third is spent on other accounting areas. The last third is devoted to marketing and other duties such as networking with clients and other professionals within the field.
3. Employee Benefits
Tax accountants often receive great benefits from firms they hire such as medical insurance, paid vacation days, sick days and even gym memberships. Tax accountants who work for their Tax Practice may also enjoy the luxury of taking business expenses such as cell phone usage, computer and internet access which can be written off on Tax Returns.
4. High Salary
Tax accountants generally make a high salary of between $42,000 to more than $72,000 a year, depending on factors such as employer type and experience level. Tax accountants who work for a firm often face increased chances of promotion within the company or potential advancement opportunities elsewhere due to a wide range of Tax Attorney firms from big cities to small towns around the U.S.
5. Flexibility
Tax accountants have flexible schedules during tax season since it is not uncommon for Tax Accountants’ hours to be extended to meet tax Season deadlines. Tax accountants who work for themselves may also choose to take Tax Clients as they see fit instead of having set office hours.
6. Tax Education
Tax accountants must stay on top of current tax laws to provide the best possible advice for their Tax Clients. Tax Accountants also benefit from continuous education that provides them with updates on changing tax policies and other tax topics that may affect their Tax Clients’ bottom line.
7. Stressful
Tax Season Since Tax season is often a stressful time, it can be beneficial for Tax accountants to enjoy hobbies or participate in community events during off-peak seasons when business slows down.
8. Boring Work
Although many Tax Accountants find Tax Season rewarding, Tax accountants who work for Tax Firms or Tax Attorneys will often spend the majority of their time inside Tax Offices with little interaction with people outside of the firm. Tax accountants who work on Tax Returns for an extended period may also find themselves growing bored due to the repetitive nature of tax returns.
In conclusion, tax accountants are important because they help Tax Clients stay in compliance with tax laws due to their tax knowledge and experience.