A tax analyst is responsible for the preparation, review, and filing of tax forms. Apart from the preparation of taxes, tax analysts are hired to devise means for reduced tax payments. You are in charge of the preparation of tax returns and quarterly tax payments. You also handle all the tax paperwork for your client. Your job involves the calculation of taxes owed, saving gained from deductions, and other costs that influence the final tax estimate. As an analyst, you make recommendations that concern tax breaks, deductions, and ways to reduce tax expenses. To succeed as a tax analyst, you must stay updated about tax laws and recent modifications.
You need to possess a degree in accounting, finance, or other similar fields of study to work as a tax analyst. You must also be a detail-oriented analytical thinker. Great computer, communication, and time management skills are also required for the role. Tax analysts earn $64,897 on an average every year.
There is more than meets the eye when it comes to being a tax analyst. For example, did you know that they make an average of $30.33 an hour? That's $63,085 a year!
Between 2018 and 2028, the career is expected to grow -2% and produce -1,400 job opportunities across the U.S.
There are certain skills that many tax analysts have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed computer skills, interpersonal skills and analytical skills.
When it comes to the most important skills required to be a tax analyst, we found that a lot of resumes listed 53.4% of tax analysts included tax returns, while 4.8% of resumes included special projects, and 4.2% of resumes included ensure compliance. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the tax analyst job title. But what industry to start with? Most tax analysts actually find jobs in the finance and manufacturing industries.
If you're interested in becoming a tax analyst, one of the first things to consider is how much education you need. We've determined that 65.2% of tax analysts have a bachelor's degree. In terms of higher education levels, we found that 13.4% of tax analysts have master's degrees. Even though most tax analysts have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a tax analyst. When we researched the most common majors for a tax analyst, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on tax analyst resumes include associate degree degrees or high school diploma degrees.
You may find that experience in other jobs will help you become a tax analyst. In fact, many tax analyst jobs require experience in a role such as tax accountant. Meanwhile, many tax analysts also have previous career experience in roles such as staff accountant or accountant.