Tax Associate skills for your resume and career

Strong customer service is the act of providing excellent support to customers before, during, and after their purchase. Tax associates use strong customer service by developing skills like time management and organization. They prepare tax returns for customers while maintaining a high level of service quality. This involves being attentive to customer needs, being responsive to their queries, and providing them with accurate information.

CPA stands for Certified Public Accountant. Tax associates use CPA in various ways, such as advising clients on financial matters, demonstrating competence and accounting knowledge, preparing individual and small business tax returns, collaborating with owners and CPAs, and maintaining the CPA's books. They may also work with CPAs from large accounting firms to review complex tax return preparations.

Tax planning is the process of looking for ways to minimize one's tax liability. Tax associates use tax planning to help their clients reduce their tax bills. They do this by identifying opportunities to save on taxes, researching tax laws, and communicating their findings to their clients. For example, they might help a client decide how to structure their business to minimize taxes or advise them on the best way to invest their money. They also keep an eye on changes in tax laws and adjust their clients' plans accordingly.

Taxation is the process of collecting money from citizens and businesses to fund government activities. Tax associates use taxation by researching and resolving complex issues, advising clients on taxation matters, and preparing tax forms. They also stay up-to-date with the latest regulations and standards, and negotiate with taxation entities to reduce interest and penalty fees.

Tax research involves analyzing and interpreting tax laws, regulations, and court cases to determine the tax implications of various situations. Tax associates use tax research to prepare clients' tax returns, resolve tax issues, and communicate solutions to clients. They conduct research using resources like the IRS, CCH, and RIA Checkpoint, and apply their findings to a wide range of tax issues, such as corporate acquisitions, expatriation, and controlled foreign corporations.

Tax compliance is the process of preparing, filing, and paying taxes as required by law. Tax associates use tax compliance to manage client engagements, prepare returns for individuals and businesses, and conduct audits to identify refund opportunities. They also stay informed about tax norm updates and use this knowledge to promote other company activities to clients when appropriate.

Tax regulations are rules and guidelines that govern how taxes are calculated and paid. Tax associates use these regulations to analyze and interpret tax situations for their clients. They also research changes to tax regulations to stay up-to-date and informed. They apply this knowledge to individual situations, such as mortgages and business deductions, to ensure compliance with the regulations.

Income tax returns are documents submitted to the government to report a person's or business' income, expenses, and tax liability. Tax associates use income tax returns to prepare and verify financial information for individuals and businesses. They prepare and process these returns, ensuring they comply with federal and state regulations. They also provide consultations and assistance to customers with their income tax returns, and sometimes manage office duties.

Tax software is a computer program that helps prepare and process tax returns. Tax associates use tax software to prepare personal and business tax returns, analyze financial documents, and input information for yearly income. They also use it to communicate with clients about tax issues and provide tax software support. For example, they might enter personal and relevant information into the software to complete tax returns.

Real estate is a type of property, such as buildings or land. Tax associates use real estate in various ways, like preparing tax returns for real estate developers, reviewing real estate assessments, and handling real estate closings. They also specialize in compliance work for rental real estate clients, prepare and file property tax renditions, and review general ledgers for real estate appraisers.

Excellent client service is the ability to effectively communicate and maintain strong relationships with clients. Tax associates use excellent client service by establishing connections with high net worth clients and providing effective communication. This helps build trust and ensures clients receive the best possible service.

The Internal Revenue Service (IRS) is the United States government agency responsible for tax collection and tax law enforcement. Tax associates use the IRS in various ways, such as responding to inquiries from the agency, communicating with it to settle outstanding tax matters, and researching issues to defend clients in IRS examinations. They also use the IRS website to gain a better understanding of tax topics and to provide support for judgments reached on tax returns.

Phone calls are a wireless or wired connection made over a telephone or a mobile phone between two people. Two parties are involved in a phone call, the caller and the receiver. A caller dials the number of the one he wants to call, and the recipient hears a bell or a tune to which he picks up the call. The call establishes a connection between them through which they can communicate. The voice is converted into signals and is transmitted through wired or wireless technology.