Study Tax Accounting
Tax accountants handle the ins and outs of taxes for individuals, businesses and government agencies. As well as making a difference in people’s lives and finances, tax accountants also have an opportunity to earn a great salary and enjoy a stable career.
The top 10% of accountants earn around USD$122,840 a year
Jobs are predicted to grow by 7% in the next ten years
The median annual salary for accountants is USD$73,560
Tax accountants make more than the median average for other occupations
About Tax Accounting
Tax accountants are required across all levels of the economy, from individuals to large-scale corporations.
Is Tax Accounting right for me?
For most of the year, you’ll likely have a routine work schedule between the hours of 9am and 5pm. At tax time, however, you’ll work long hours and even weekends to keep on top of your duties.
When it comes to a tax accounting course, you should start off with an Accounting course to ensure you have a good understanding of business administration schemes, accounting theory and basic finance.
Tax Accounting study options and costs
Bear in mind that each country will have its own rules and regulations that tax professionals must abide by. This might include completing a board-approved course, getting registered with the relevant tax board, or completing relevant work experience.
It’s also worth doing a cost-benefit analysis to determine what level of education you’d like to pursue. Accountants who have completed a Bachelor’s degree earn a median salary of USD$69,000 while those with a Master’s degree earn around USD$91,000, so it may be worth pursuing a higher level of education! To give you a general idea, most international students will spend upwards of $30,000 on their accounting degree.
You’ll also have to factor in the cost of any certifications or registrations you need to legally practice in the country you intend to work in. For example, Australians have to register with the Tax Practitioners Board, while UK accountants must register with Her Majesty’s Revenue and Customs (HMRC).
In the accounting field more generally, jobs are expected to grow by 10-11% in the next five years, equating to 139,900 jobs. Given how complicated tax laws are, tax accountants are sure to remain in high demand.
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