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The differences between tax accountants and project accountants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a tax accountant and a project accountant. Additionally, a tax accountant has an average salary of $62,142, which is higher than the $60,467 average annual salary of a project accountant.
The top three skills for a tax accountant include CPA, tax audits and income tax returns. The most important skills for a project accountant are reconciliations, project management, and contract terms.
| Tax Accountant | Project Accountant | |
| Yearly salary | $62,142 | $60,467 |
| Hourly rate | $29.88 | $29.07 |
| Growth rate | 6% | 6% |
| Number of jobs | 57,919 | 43,672 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 72% |
| Average age | 44 | 44 |
| Years of experience | 4 | 4 |
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.
A project accountant is primarily in charge of overseeing the budget and expenditures allocated for various projects within a company. Their responsibilities revolve around reviewing financial data and work plans, managing billing and financial reports, monitoring the flow of revenue, filing purchase orders and invoices, and processing payments to subcontractors, suppliers, and more. It is also vital to coordinate with all managing personnel to prepare necessary reports such as costs and taxes. Furthermore, it is essential to maintain data and records of all transactions, all while implementing the company's policies and regulations.
Tax accountants and project accountants have different pay scales, as shown below.
| Tax Accountant | Project Accountant | |
| Average salary | $62,142 | $60,467 |
| Salary range | Between $45,000 And $83,000 | Between $46,000 And $79,000 |
| Highest paying City | New York, NY | Washington, DC |
| Highest paying state | New York | New Jersey |
| Best paying company | Pacific Investment Management Company LLC | Perficient |
| Best paying industry | Finance | Professional |
There are a few differences between a tax accountant and a project accountant in terms of educational background:
| Tax Accountant | Project Accountant | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 72% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between tax accountants' and project accountants' demographics:
| Tax Accountant | Project Accountant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 47.3% Female, 52.7% | Male, 36.8% Female, 63.2% |
| Race ratio | 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% | Black or African American, 8.7% Unknown, 4.0% Hispanic or Latino, 11.1% Asian, 12.3% White, 63.5% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 7% | 7% |