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The differences between accounting analysts and tax accountants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both an accounting analyst and a tax accountant. Additionally, a tax accountant has an average salary of $62,142, which is higher than the $58,399 average annual salary of an accounting analyst.
The top three skills for an accounting analyst include reconciliations, customer service and account reconciliations. The most important skills for a tax accountant are CPA, tax audits, and income tax returns.
| Accounting Analyst | Tax Accountant | |
| Yearly salary | $58,399 | $62,142 |
| Hourly rate | $28.08 | $29.88 |
| Growth rate | 6% | 6% |
| Number of jobs | 81,097 | 57,919 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 72% |
| Average age | 44 | 44 |
| Years of experience | 4 | 4 |
An accounting analyst is responsible for supporting the accounting operations of an organization, analyzing financial transactions and financial statements, and resolving account discrepancies. Accounting analysts interpret financial data by consolidating account transactions, performing account reconciliation, and managing account receivables. They also assist in preparing and releasing invoices, issuing billing statements, and creating comprehensive financial reports on the company's budget and expenses. An accounting analyst must have excellent knowledge of the accounting principles and disciplines, as well as extensive analytical and communication skills to perform duties and meet deadlines under minimal supervision.
A tax accountant is an individual who works with clients to produce tax return documents that follow tax laws and regulations while keeping them updated on their return information. Tax accountants must determine tax strategies for their clients that may minimize or eliminate tax payments while arranging audits with taxation authorities. They prepare tax documents for different clients, including private companies, non-profit organizations, and private individuals. Tax accountants are also required to obtain a bachelor's degree in accounting and should understand business concepts.
Accounting analysts and tax accountants have different pay scales, as shown below.
| Accounting Analyst | Tax Accountant | |
| Average salary | $58,399 | $62,142 |
| Salary range | Between $42,000 And $79,000 | Between $45,000 And $83,000 |
| Highest paying City | San Francisco, CA | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Pacific Investment Management Company LLC | |
| Best paying industry | Finance | Finance |
There are a few differences between an accounting analyst and a tax accountant in terms of educational background:
| Accounting Analyst | Tax Accountant | |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 72% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between accounting analysts' and tax accountants' demographics:
| Accounting Analyst | Tax Accountant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 41.6% Female, 58.4% | Male, 47.3% Female, 52.7% |
| Race ratio | Black or African American, 8.7% Unknown, 4.0% Hispanic or Latino, 11.0% Asian, 14.3% White, 61.6% American Indian and Alaska Native, 0.5% | Black or African American, 8.2% Unknown, 3.9% Hispanic or Latino, 10.5% Asian, 15.5% White, 61.4% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 7% | 7% |