Senior Tax Accountant Job Description
Accounting specialists who provide tax services and have at least five to ten years of work experience have the option of becoming a senior tax accountant. These accountants hold managerial responsibilities and oversee not only their own tasks, but also the duties of entry-level staff accountants who work on similar accounts. As they progress in their career, senior tax accountants can move on to senior management roles or even become partners in their firm.
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Function
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As experienced accountants, senior tax accountants are responsible for supervising, training and delegating duties to junior-level tax accountants on their team. Their personal duties consist of working closely with client accounts and preparing federal, state and local tax returns. Senior tax accountants must review tax forms for accuracy, analyze and estimate tax payments, and assist clients with compliance issues that arise as a result of inconsistencies or incorrect transaction data. In addition, senior tax accountants facilitate payments to the U.S. Internal Revenue Service such as transfer pricing and management fees.
Education
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The minimal education requirement for senior tax professionals is a bachelor's degree in accounting, finance or a related discipline. During their undergraduate study, accounting majors take classes in statistics, business law, auditing, cost accounting, Internet technology and accounting theory. To boost their educational credentials, professionals can also pursue a master's degree in accounting or taxation. There are also a variety of professional certifications available to accountants, including designation as a Certified Public Accountant, Certified Management Accountant and Information Technology Professional (See Resources).
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Skills
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It is imperative that senior tax professionals are excellent at calculating and analyzing complex figures and numbers. In addition to being highly analytical and quantitative, tax accountants must have effective writing, oral and interpersonal communication skills. Senior tax professionals deal with clients on a regular basis and must be able to explain complex terms and facts clearly and logically. Excellent computer skills are also valuable, particularly with Microsoft Excel, PowerPoint and accounting software.
Salary
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Median salaries for accountants and auditors were $59,430 according to the Bureau of Labor Statistics (BLS) May 2008 "Occupational Outlook Handbook, 2010-11 Edition." Accountants specializing in tax preparation services earned a median wage of $61,480. An Indeed.com report states that the average salary for a U.S. tax accountant was $68,000 as of May 2010.
Potential
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The BLS forecasts that the number of accounting jobs will rise by 22 percent through the year 2018. Businesses selling products and services domestically and overseas will need accountants to advise them on compliance laws regulating financial transactions. Also, economic expansion will drive business volume and activity, prompting companies to seek tax, auditing and other accounting advice on internal controls and business expenditures. The BLS predicts that accountants with professional certification and advanced degrees will have the best career opportunities during the 2008 to 2018 decade.
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References
Resources
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