The Two Types of Tax Accountants

In this article, we’re going to go over the two types of tax accountants to educate people on who to hire according to their needs. Tax accountants Adelaide requires only a Bachelor’s degree in accounting. However, a master’s degree-level training in either taxation or accounting is also advantageous. As of the moment, there are two types of tax accountants: an entry-level tax accountant, and a senior-level tax accountant.

Entry-level Tax Accountant

Tax Accountants AdelaideEntry-level certified tax accountants are responsible for filling out individual or business tax returns. They also calculate their client’s net worth, as well as file any necessary documentation. They also provide their clients with statements that summarize their tax liabilities. A newly minted tax accountant works at a public accounting firm where he or she is responsible for handling the needs of several clients all at once.

The responsibilities of an entry-level tax accountant are usually split up at large accounting firms. For instance, one accountant may be handling the preparation of tax returns, while another one is calculating the earnings. Newly graduated and appointed tax accountants can also be employed at companies that require an in-house tax professional that focus on handling employee tax matters. Overall, an entry-level tax accountant is the one that does a lot of work among the two types of tax accountants Adelaide. Click here to learn more about them.

Senior-level Tax Accountant

Senior-level tax accountants are certified professionals who take a more theoretical approach to their clients’ needs. In most cases, this type of tax accountant serves as a consultant, helping clients map out and create business plans, individual financial plans and trusts to minimize tax liability at the federal, international, state, and local sectors. A lot of senior-level tax accountants are responsible for performing and reviewing their clients’ financial activities to ensure compliance with all applicable rules and regulation of the tax laws. At the same time, they also oversee groups of less experienced employees. Here are other duties that a senior-level tax accountant fulfils:

  • Review tax returns.
  • Do consultations and give professional advice.
  • Financial planning.
  • Map out a business or individual’s finances.
  • Monitor tax legislation, regulations, and rulings.
  • Protect their clients’ interests.

All of this culminates in one thought: you should be thankful for tax accountants Adelaide. Even if you don’t employ one personally, they will still make your life easier, simpler, and more enjoyable. They will handle the hardships for you while you sit back and relax. So if you’re looking to hire a tax accountant for your specific needs, make sure you know which type you’ll be getting.