Tax Accountant

Career Area: Finance

Occupation Group: Accounting Professionals

Salary

Percentile wages tell how much a certain percentage of an overall population in a geographic area or within a given industry or field makes. The percentile wage estimate is the value of a wage below which a certain percent of workers fall.

An example would be the 25th percentile, 25 percent of workers employed in that occupation earn less and 75 percent earn more than the estimated wage value. At the 75th percentile, 75 percent of workers employed in that occupation earn less and 25 percent earn more than the estimated wage value.

A typical Tax Accountant earns the following wages (national and state):

State

The average salary in North Carolina for those pursuing this career is $57,637

*The salaries depicted here are representative of the range of salaries posted in job listings over the past year. Living wage in North Carolina is $30,000.

National

The average salary in the United States for those pursuing this career is $60,444

*The salaries depicted here are representative of the range of salaries posted in job listings over the past year. Living wage in North Carolina is $30,000.

What Does a Professional in this Career Do?

Organizes tax-related information and prepares tax returns. May work for individual or business clients, or work for a large corporation. Monitors tax regulations and advises on tax issues that affect business. May assist with preparation for a tax audit. May specialize in complex topics related to corporate taxes or trusts and estates.

Employment Trends

The job demand and job growth statistics shown here were derived from job posts over the past year. Expected job growth projections are extrapolated from year-over-year job post listing history.

Job demand and job growth is expected at the following rates:

LocationGrowth
North Carolina1024+13.8%
Nationwide35351+10%

Skills

A professional in this position typically utilizes the following skills in the course of everyday work in this exciting and challenging field:

Baseline Skills

The following are baseline skills every Tax Accountant is expected to have in order to experience success in this field:

  • Communication Skills: The ability to convey information to another effectively and efficiently.
  • Research: Experience performing creative and systematic work to understand a product, market, or customer, either before building a new solution, or to troubleshoot an existing issue
  • Computer Literacy: The ability to use computers and related technology efficiently for work tasks.
  • Organizational Skills: Experience with a systematic process of structuring, integrating, co-ordinating task goals, and activities to resources in order to attain objectives.
  • English: English is a West Germanic language that was first spoken in early medieval England and is now a global lingua franca.

Specialized Skills

These skills are specific to working in this career:

  • Tax Returns: Working experience with reports filed by a revenue service or tax collection agency containing information used to calculate income tax or other taxes.
  • Tax Preparation: Working experience preparing tax returns, often income tax returns, often for a person other than the taxpayer.
  • Accounting: Experience maintaining and verifying the business records of a person or business and preparing forms and reports for financial purposes.
  • Tax Law: Tax law is an area of legal study dealing with the constitutional, common-law, statutory, tax treaty, and regulatory rules that constitute the law applicable to taxation.
  • Customer Service: Working experience with the provision of service to customers before, during and after a purchase.

Distinguishing Skills

Any Tax Accountant that possesses the following skills will stand out against the competition:

  • Financial Statements: Financial statements (or financial report) is a formal record of the financial activities and position of a business, person, or other entity.
  • Property Tax: Working experience with property taxes, which are ad valorem taxes on the value of properties, usually levied on real estate.
  • Tax Software: Tax software is defined as a type ofcomputersoftwaredesigned to help individuals or companies prepare for and file income, corporate and similar tax returns.
  • Account Reconciliation: In accounting, working experience using two sets of records to ensure figures are correct and in agreement. This involves whether the money leaving an account matches the amount that's being spent, and making sure the two are balanced at the end of the recording period.
  • Tax Audits: A tax audit is when the IRS decides to examine your tax return a little more closely and verify that your income and deductions are accurate.

Salary Boosting Skills

A professional who wishes to excel in this career path may consider developing the following highly valued skills:

  • Mergers and Acquisitions: Mergers and acquisitions (M&A) are transactions in which the ownership of companies, other business organizations or their operating units are transferred or combined.

Experience

This position typically requires the following level of experience. The numbers presented in the pie charts below were derived from actual job posts over the past year. Not all job postings list experience requirements.

Experience Required%
0 to 2 years38%
3 to 5 years58%
6 to 8 years3%

Many of the programs offered through NC State are designed for working professionals who need additional credentials to enhance existing work experience.

Students who do not have the expected level of experience may wish to look into internship and employment opportunities.

Common Job Titles

It is possible to find work in this field in positions commonly listed as the following job titles:

  • Tax Associate
  • Tax Accountant
  • Virtual Tax Associate
  • Senior Tax Accountant
  • Remote Tax Associate Seasonal

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