What are careers in tax?

CPA, financial consultant, and chartered accountant are careers in tax. Here are some details on each of these careers and others in tax:

• CPA

A CPA is an accountant that can sign a client's tax returns and also be a representative of a company or individual in the event of an IRS audit.

In the world of accounting, a CPA is a tax specialist. CPA stands for Certified Public Accountant, and this means the CPA has to pass the Uniform Certified Public Accountant Examination or 'CPA exam' for short, making them a state-licensed CPA.

Because of their wealth of knowledge regarding taxes, a CPA can give invaluable counsel on how to reduce the amount of taxes a company or client will owe each year.

The average salary of a CPA in the United States is $86,594 per year.

• Financial consultant

A financial consultant is a professional that helps an individual or company build wealth. This includes how to navigate certain tax codes and find areas in the tax law where clients can ultimately save money or even see a return.

A financial consultant's main objective is to help their clients with developing comprehensive long-term financial strategies to increase their wealth. They are heavily involved in the buying and selling of investments. And turning complicated financial concepts into actionable strategies.

Financial consultants tend to have bachelor's or advanced degrees in finance, economics, accounting, or other financial disciplines.

The average salary of a financial consultant in the United States is $91,944 per year.

• Chartered accountant

A chartered accountant is a financial professional who is able to keep financial records and offer consultations in the form of tax and other financial advice. Chartered accountants keep or organize financial information. Individuals and businesses employ them to assist with tax returns, financial statements, or lending agreements.

Other tasks of chartered accountants include conducting payroll, managing investments and expenses, and accounting for internal finances such as transaction data.

Chartered accountants have bachelor's degrees and sometimes advanced degrees in accounting. They may also acquire certifications relevant to the field.

• Auditor

An auditor is a financial professional that verifies the work accountants do. Auditors come after accountants have performed their financial record keeping. They perform crucial work for companies and clients when they are about to file taxes.

They examine documents and other information prepared by accountants to ensure they are giving an accurate picture of a company's financial situation. Auditors verify that these financial statements are assembled in accordance with generally accepted accounting principles.

Auditors have at least a bachelor's degree in accounting or another related area.

The average salary of an auditor in the United States is $61,087 per year.

• Financial advisor

A financial advisor helps clients understand their current financial situation. A financial consultant's main objective is to help their clients with developing comprehensive long-term financial strategies to increase their wealth. This includes how to prepare clients for tax time and ultimately save them money.

They are also heavily involved in the buying and selling of investments. And turning complicated financial concepts into actionable strategies.

In addition to taxes and investments, financial advisors help clients with many different needs, such as figuring out ways to save for college, save for retirement, start investing or have more money available to meet regular expenses. They also see clients that are on the cusp of major life changes like marriage, divorce, job transitions, or the birth of a child.

Financial advisors usually have a bachelor's degree or an advanced degree in finance, economics, accounting, or another related area.

The average salary of a financial advisor in the United States is $74,486 per year.