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Tax analyst hiring summary. Here are some key points about hiring tax analysts in the United States:
Here's a step-by-step tax analyst hiring guide:
A tax analyst specializes in managing and filing tax forms and tax returns, all while devising strategies to reduce tax payments legally. A tax analyst may work as a member of a company or independently. Moreover, in a company setting, the responsibilities of a tax analyst revolve around coordinating with different departments to obtain all necessary documentation and financial information, maintaining accurate and extensive records of all transactions, and resolving any issues or concerns. Furthermore, it is essential to remain updated with all the tax laws, all while adhering to the policies and regulations of the company.
The tax analyst hiring process starts by determining what type of worker you actually need. Certain roles might require a full-time employee, whereas part-time workers or contractors can do others.
You should also consider the ideal background you'd like them a tax analyst to have before you start to hire. For example, what industry or field would you like them to have experience in, what level of seniority or education does the job require, and how much it'll cost to hire a tax analyst that fits the bill.
Here's a comparison of tax analyst salaries for various roles:
| Type of Tax Analyst | Description | Hourly rate |
|---|---|---|
| Tax Analyst | Tax examiners and collectors, and revenue agents ensure that federal, state, and local governments get their tax money from businesses and citizens. They review tax returns, conduct audits, identify taxes owed, and collect overdue tax payments. | $20-41 |
| Corporate Accountant | A corporate accountant is a professional 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... Show more | $22-42 |
| General Accountant | A general accountant is responsible for evaluating account statements, conducting data analysis with financial transactions, and generating reports on revenues, expenses, and sales forecasting. These accountants manage discrepancies on the company and clients' profiles, including bank reconciliations and processing of account receivables and payables... Show more | $19-35 |
Including a salary range in your tax analyst job description is one of the best ways to attract top talent. A tax analyst can vary based on:
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | California | $81,877 | $39 |
| 2 | Washington | $81,194 | $39 |
| 3 | New York | $69,265 | $33 |
| 4 | Massachusetts | $65,689 | $32 |
| 5 | Illinois | $65,294 | $31 |
| 6 | Ohio | $64,961 | $31 |
| 7 | Minnesota | $63,260 | $30 |
| 8 | North Carolina | $62,958 | $30 |
| 9 | Delaware | $61,378 | $30 |
| 10 | Virginia | $60,635 | $29 |
| 11 | Colorado | $60,437 | $29 |
| 12 | Georgia | $59,330 | $29 |
| 13 | Missouri | $56,315 | $27 |
| 14 | Pennsylvania | $56,211 | $27 |
| 15 | Texas | $56,084 | $27 |
| 16 | Arizona | $54,903 | $26 |
| 17 | Wisconsin | $52,940 | $25 |
| 18 | Utah | $51,457 | $25 |
| 19 | Maryland | $45,881 | $22 |
| 20 | Florida | $43,937 | $21 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Meta | $111,696 | $53.70 | 2 |
| 2 | $109,664 | $52.72 | 32 | |
| 3 | Microsoft | $108,711 | $52.26 | 3 |
| 4 | Apple | $105,933 | $50.93 | 6 |
| 5 | Cisco | $104,590 | $50.28 | 4 |
| 6 | Amazon | $104,562 | $50.27 | 44 |
| 7 | Applied Materials | $103,978 | $49.99 | 13 |
| 8 | Visa | $101,063 | $48.59 | 17 |
| 9 | Ernst & Young | $100,765 | $48.44 | 2,001 |
| 10 | KLA | $100,080 | $48.12 | 2 |
| 11 | Lam Research | $99,389 | $47.78 | |
| 12 | Putnam Investments | $99,048 | $47.62 | |
| 13 | Instacart | $97,193 | $46.73 | |
| 14 | MUFG EMEA | $96,983 | $46.63 | |
| 15 | Texas Instruments | $96,484 | $46.39 | 3 |
| 16 | HSBC Bank | $96,260 | $46.28 | 2 |
| 17 | General Motors | $95,466 | $45.90 | 2 |
| 18 | JPMorgan Chase & Co. | $94,495 | $45.43 | 7 |
| 19 | Carlson Capital | $92,987 | $44.71 | |
| 20 | TD Bank | $92,339 | $44.39 | 14 |
A tax analyst job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. Below, you can find an example of a tax analyst job description:
To find tax analysts for your business, try out a few different recruiting strategies:
During your first interview to recruit tax analysts, engage with candidates to learn about their interest in the role and experience in the field. During the following interview, you'll be able to go into more detail about the company, the position, and the responsibilities.
It's also good to ask about candidates' unique skills and talents to see if they match your ideal candidate profile. If you think a candidate is good enough for the next step, you can move on to the technical interview.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you've decided on a perfect tax analyst candidate, it's time to write an offer letter. In addition to salary, it should include benefits and perks available to the employee. Qualified candidates may be considered for other positions, so make sure your offer is competitive. Candidates may wish to negotiate. Once you've settled on the details, formalize your agreement with a contract.
It's also good etiquette to follow up with applicants who don't get the job by sending them an email letting them know that the position has been filled.
To prepare for the new tax analyst first day, you should share an onboarding schedule with them that covers their first period on the job. You should also quickly complete any necessary paperwork, such as employee action forms and onboarding documents like I-9, benefits enrollment, and federal and state tax forms. Finally, Human Resources must ensure a new employee file is created for internal record keeping.
Recruiting tax analysts involves both the one-time costs of hiring and the ongoing costs of adding a new employee to your team. Your spending during the hiring process will mostly be on things like promoting the job on job boards, reviewing and interviewing candidates, and onboarding the new hire. Ongoing costs will obviously involve the employee's salary, but also may include things like benefits.
You can expect to pay around $61,745 per year for a tax analyst, as this is the median yearly salary nationally. This can vary depending on what state or city you're hiring in. If you're hiring for contract work or on a per-project basis, hourly rates for tax analysts in the US typically range between $20 and $41 an hour.