When it comes to making the right career choice, aspiring tax specialists can choose from quite a number of options. They can choose a career as an in-house finance specialist who works towards the success of businesses and corporations. Also, they can opt for self-employment i.e. selling their services directly.
If you wish to become a tax specialist, you will find many career paths. The career paths put stress on certain skills like numerical aptitude and business capability. If you possess these two key skills, you will be able to work in your field of interest.
Now, let us see what the career paths are.
Tax accountants– a tax accountant monitors and evaluates financial information to prepare local, state and federal tax returns. Presenting the information in the form of tax returns is the chief duty of such professionals. A University degree in an accounting discipline is a minimum educational requirement to secure an accountant’s job. Extensive knowledge of government regulations and a strong business concept are the other requirements. Ongoing education enhances career advancement opportunities. Pursuing a course in tax specialty will work as an advantage.
Tax accountants are required to be licensed in order to work as a certified public accountant. The eligibility criteria for the licensing examination vary from one state to another. However, two years of accounting work experience are required in most of the states.
As an accountant, you may work for individuals, organisations or businesses. You can expect to be paid around £34,000 per annum.
Financial advisors– a financial advisor helps a company or an individual plan how to invest their earnings correctly. As a financial advisor, you can find an in house job or opt for private practice. An excellent academic background in accounting, economics or financial management and sound mathematical skills are a must to enter into this profession.
A financial advisor engaged in an in house job can earn £40,000 per annum. The salary range of those involved in private practice is determined by the services they offer to their clients and their clientele.
Tax preparers– a tax preparer learns and interprets tax codes. He or she helps businesses and individuals to file their quarterly and annual tax statements. In order to become a tax preparer, a four-year college degree in finance, accounting or economics is required. Many institutes impart tax preparation study programs. These programs focus on offering awareness of tax code laws and regulations thereby, providing a strong base for a career as a tax preparer.
As an aspiring tax preparer, you can choose to specialise in corporate tax preparation, real estate tax law or international tax preparation. At the initial stage of your career, you will have to work under the guidance of an experienced professional. This job is office-based and demands great people skills. After completing your education, you can directly apply to the tax preparation services. Also, you may look for job leads on the Internet.
The average annual salary of a tax preparer ranges from £15,000 to £35,000.
Bookkeepers– a bookkeeper performs the role of a financial administrator for a company. If you wish to embark on a career in this field, you must possess an excellent combination of relevant professional and interpersonal skills. Good accounting and data entry skills and a sound knowledge of government financial laws and regulations are the professional skills. On the other hand, strong interaction and organisational skills are the interpersonal qualities required to be successful in this career.
You can earn an average salary of near about £30,000 per annum as a bookkeeper.
These are the roles you may consider while choosing a career as a tax specialist. You may consult a competent tax recruitment agency to find suitable job opportunities.