Requirements for a Nevada Income Tax Preparer
Certified public accountants (CPA), also known as income tax preparers, are responsible for helping individuals, businesses and organizations pay their taxes accurately and on time. These accountants analyze financial documents, look for deductions and determine the amount of taxes owed to the state and federal government. It's important for these professionals to stay up-to-date on any recent changes in tax laws, rates and regulations. Indeed.com reports that in 2010, the average salary for an accountant in Nevada is $64,000 per year.
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Education
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Prospective tax preparers must graduate with at least a bachelor's degree in accounting. In 2001, the state of Nevada passed a law requiring that all prospective accountants complete 150 hours of education. You must complete 30 hours of courses in financial accounting, auditing, federal income tax, cost accounting and accounting electives. The state also requires that you take various business courses, including business law, business finance, management, marketing, statistics, economics and ethics.
Licensing Examination
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After completing an accounting program, applicants must pass the four-part CPA exam offered in Nevada. This exam covers topics in business environments and concepts, financial accounting and reporting, auditing and regulation and is made up of multiple-choice questions and case studies. The business environment and concepts portion of the exam covers topics in business structures, economic concepts and financial management, while the financial accounting and reporting sections focus on accounting principles for business, nonprofit organizations and government agencies. The auditing section tests students on their ability to understand internal controls, reporting, evaluation procedures and procedures. Regulation examines ethics, federal taxation and legal responsibilities involved in accounting and tax-related matters.
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Certification
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Apply for certification as an accountant through the Nevada State Board of Accountancy to practice accounting. In order to become certified, you must have two years of experience and complete 1,000 hours of work. Seven hundred of those hours must focus on auditing. You are also subject to a background check to determine any previous criminal history. Accountants in Nevada must complete four hours of continuing education requirements every two years to remain certified.
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References
- Photo Credit tax forms image by Chad McDermott from Fotolia.com
