What does a senior tax associate do?
A senior tax associate is responsible for assisting the accounting and finance department in processing tax requirements and analyzing documents for accurate completion of tax filings. Senior tax associates also support the analysis of financial transactions and account statements, resolving billing discrepancies, and performing account reconciliations. They handle tax disputes immediately to mitigate complications on tax systems and coordinate with the management and clients for the updates. A senior tax associate must have excellent analytical skills, as well as extensive knowledge of the financial and taxation industry.
Senior tax associate responsibilities
Here are examples of responsibilities from real senior tax associate resumes:
- Prepare and review tax exempt-bond arbitrage rebate calculations; communicate findings to managing director and clients.
- Identify book-tax differences to reconcile GAAP basis income to tax basis income.
- Prepare and audit year-end/quarterly provision for public and private companies (ASC [].
- Maintain tax and GAAP capital accounts for investors and respond to limit partner requests when necessary.
- Assist in the booking of in-transit, and audit invoices, to ensure sales tax bill accurately.
- Register all new DG store locations for sales and use tax with the appropriate jurisdiction within each assign state.
- Develop and present training courses relate to partnership taxation, venture capital industry issues and the tax effect of investment transactions.
- Prepare quarterly estimate tax calculations, ASC 740 tax provisions for corporations, and extension calculations for various types of entities.
- Participate in IRS & state tax examinations of corporate and individual audits and tax notices/queries independently and as a team member.
- Prepare monthly, quarterly and annually defer tax reconciliations and reporting.
- Participate in a knowledge sharing initiative by exposing corporate associates to individual taxation.
- Perform technical accounting research using CCH online as needed to analyze and determine appropriate accounting compliance.
- Execute accounts receivable reporting enhancements and reconciliation procedures in order to integrate QuickBooks accounting software and CCH data software.
- Perform property inspections of commercial properties and create inspection reports illustrating the physical characteristics of say properties for assessment appeals purposes.
- Implement process improvements to review accuracy of sales and use tax accruals and payments to increase savings and reduce exposure.
Senior tax associate skills and personality traits
We calculated that 24% of Senior Tax Associates are proficient in CPA, Tax Compliance, and Client Relationships. They’re also known for soft skills such as Analytical skills, Communication skills, and Detail oriented.
We break down the percentage of Senior Tax Associates that have these skills listed on their resume here:
- CPA, 24%
Performed the tasks of gathering and maintaining records of tax information from CPA Firm clients.
- Tax Compliance, 12%
Provided client-site tax compliance and consulting support for corporate and partnership tax departments through out-sourcing engagements.
- Client Relationships, 5%
Manage existing client relationships and develop new business using marketing skills and sophisticated business products.
- Taxation, 4%
Participated in a knowledge sharing initiative by exposing corporate associates to individual taxation.
- FAS, 4%
Prepared standard monthly financial statements and other analysis reports in functional and foreign currencies (FAS 52 and IAS 21).
- Tax Planning, 3%
Facilitate the implementation of international tax planning projects including identifying, understanding, communicating and executing projects from inception to completion.
"cpa," "tax compliance," and "client relationships" are among the most common skills that senior tax associates use at work. You can find even more senior tax associate responsibilities below, including:
Communication skills. Another essential skill to perform senior tax associate duties is communication skills. Senior tax associates responsibilities require that "accountants and auditors must be able to listen to and discuss facts and concerns from clients, managers, and other stakeholders." Senior tax associates also use communication skills in their role according to a real resume snippet: "developed and enhanced client relationships and communications. "
Detail oriented. This is an important skill for senior tax associates to perform their duties. For an example of how senior tax associate responsibilities depend on this skill, consider that "accountants and auditors must pay attention to detail when compiling and examining documents." This excerpt from a resume also shows how vital it is to everyday roles and responsibilities of a senior tax associate: "conducted detailed review of clients' financial statements to identify book to tax differences and raised potential tax issues with management. ".
Math skills. For certain senior tax associate responsibilities to be completed, the job requires competence in "math skills." The day-to-day duties of a senior tax associate rely on this skill, as "accountants and auditors must be able to analyze, compare, and interpret facts and figures." For example, this snippet was taken directly from a resume about how this skill applies to what senior tax associates do: "directed a team on numerous consulting projects that included legal and quantitative analyses of balance sheet and income statement items. "
Organizational skills. Another crucial skill for a senior tax associate to carry out their responsibilities is "organizational skills." A big part of what senior tax associates relies on this skill, since "strong organizational skills are important for accountants and auditors, who often work with a range of financial documents for a variety of clients." How this skill relates to senior tax associate duties can be seen in an example from a senior tax associate resume snippet: "designed and implemented programs to manage international tax documents; established internal organizational structures to facilitate continually smooth operations. "
The three companies that hire the most senior tax associates are:
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Compare different senior tax associates
Senior tax associate vs. Accountant
An accountant is an individual whose primary task is to prepare, keep, examine, and interpret financial records. Most accountants are in charge of a wide scope of finance-related tasks, either for private individuals or for large-scale businesses and organizations they are employed with. They make sure that financial statements and records are accurate and comply with laws and regulations. They also compute for taxes, prepare tax returns, and ensure being paid properly and on time. As they keep track and record the flow of money, they can offer guidance on how to reduce costs, enhance revenue, and help in profit maximization.
These skill sets are where the common ground ends though. The responsibilities of a senior tax associate are more likely to require skills like "tax compliance," "client relationships," "fas," and "tax planning." On the other hand, a job as an accountant requires skills like "general ledger accounts," "account reconciliations," "payroll tax returns," and "customer service." As you can see, what employees do in each career varies considerably.
Accountants really shine in the technology industry with an average salary of $60,365. Comparatively, senior tax associates tend to make the most money in the finance industry with an average salary of $94,064.accountants tend to reach lower levels of education than senior tax associates. In fact, accountants are 14.6% less likely to graduate with a Master's Degree and 6.1% less likely to have a Doctoral Degree.Senior tax associate vs. Corporate accountant
A corporate accountant is an individual who prepares financial statements and maintains financial records of an organization to ensure that they comply with laws, regulations, and the organization's policies. Corporate accountants are required to analyze financial statements to help executives make financial decisions for the organization. They must collect ledgers and financial reports from divisional offices and prepare corporate financial statements for executives. Corporate accountants must also prepare budgets to allocate funds for spending for each department.
Each career also uses different skills, according to real senior tax associate resumes. While senior tax associate responsibilities can utilize skills like "tax compliance," "client relationships," "tax planning," and "tax services," corporate accountants use skills like "account reconciliations," "general ledger accounts," "external auditors," and "close process."
On average, corporate accountants earn a lower salary than senior tax associates. Some industries support higher salaries in each profession. Interestingly enough, corporate accountants earn the most pay in the finance industry with an average salary of $71,156. Whereas senior tax associates have higher pay in the finance industry, with an average salary of $94,064.Average education levels between the two professions vary. Corporate accountants tend to reach lower levels of education than senior tax associates. In fact, they're 13.6% less likely to graduate with a Master's Degree and 6.1% less likely to earn a Doctoral Degree.Senior tax associate vs. Certified public accountant
A certified public accountant (CPA) acts as an advisor to small businesses and chief financial officers to Fortune 500 companies. They typically work for both small and large public accounting firms. They offer advice on many issues, such as accounting and taxation. They aid businesses and individuals to plan and achieve their financial goals. There are several requirements to become a CPA, including having a degree in accounting, passing the CPA examination, and obtaining a CPA license to practice.
The required skills of the two careers differ considerably. For example, senior tax associates are more likely to have skills like "tax compliance," "client relationships," "fas," and "international tax." But a certified public accountant is more likely to have skills like "strong customer service," "customer service," "state tax returns," and "payroll tax returns."
Certified public accountants make a very good living in the finance industry with an average annual salary of $92,755. On the other hand, senior tax associates are paid the highest salary in the finance industry, with average annual pay of $94,064.certified public accountants typically earn lower educational levels compared to senior tax associates. Specifically, they're 14.1% less likely to graduate with a Master's Degree, and 5.4% less likely to earn a Doctoral Degree.Senior tax associate vs. Fund accountant
A fund accountant provides accounting for an investment portfolio. The investments needed include commodities, securities, and/or real estate in an investment fund like a hedge fund or mutual fund. The role of fund accountants includes activity capturing and recording. Fund accountants prepare accurate and timely values, distributions, yields, and fund accounting output for review. They manage activities associated with fund accounting and domestic equity transactions. Also, they work alongside supervisors when it comes to budget development.
Even though a few skill sets overlap between senior tax associates and fund accountants, there are some differences that are important to note. For one, a senior tax associate might have more use for skills like "cpa," "tax compliance," "client relationships," and "fas." Meanwhile, some responsibilities of fund accountants require skills like "excellent interpersonal," "general ledger," "external auditors," and "account balances. "
In general, fund accountants earn the most working in the finance industry, with an average salary of $80,811. The highest-paying industry for a senior tax associate is the finance industry.The average resume of fund accountants showed that they earn lower levels of education compared to senior tax associates. So much so that theyacirc;euro;trade;re 15.3% less likely to earn a Master's Degree and less likely to earn a Doctoral Degree by 6.1%.Types of senior tax associate
Updated January 8, 2025
