What does a Tax Associate do?
A Tax Associate ensures that the clients of your financial services firm, accounting office or tax preparation service can easily and accurately file their taxes. They handle everything from analyzing financial records and researching uncommon tax issues to completing forms on behalf of clients, allowing your company to provide exceptional service. By remaining familiar with tax rules and regulations, they keep clients in compliance with federal, state and local laws and help prevent underpayment that can result in penalties. In addition, they save clients money by identifying applicable deductions and providing general tax advice.
Tax Associate skills and qualifications
Success in Tax Associate careers requires certain qualifications. Some skills that indicate a quality candidate include:
- Analytical skills to review financial information
- Arithmetic and accounting skills to correctly complete tax forms
- Strong written and oral communication skills to explain information to clients
- Extensive knowledge of IRS rules and regulations as well as state and local tax laws
- Familiarity with tax preparation and accounting software and electronic tax filing systems
- Multitasking skills to handle multiple clients’ tax preparations at the same time
- Organizational skills to maintain clean records
- Strong time management skills to complete work within strict deadlines
Tax Associate experience requirements
Generally, some experience is required to complete Tax Associate job duties proficiently. At least one year of previous accounting or tax preparation experience is usually required. However, you may wish to focus on candidates with more experience if you only have one Tax Associate on staff or your company serves clients with complex financial information or complicated tax situations. Some jobs that can provide beneficial work experience include Accounting Technician, Accounting Assistant, Bookkeeper and Assistant Tax Associate.
Tax Associate education and training requirements
Most companies that hire Tax Associates establish minimum education and training requirements. In most cases, a minimum of a bachelor’s degree in accounting or taxation is mandatory. You may also wish to focus on candidates who hold certification or a special designation, such as CPA, IRS Enrolled status or Annual Filing Season Program participant. Certified Public Accountants (CPAs) must complete an approved degree program and pass a written examination, while Enrolled IRS Agents must pass a three-part examination to gain their status. The Annual Filing Season Program requires tax professionals to complete an initial tax course and take annual continuing education classes.
Tax Associate salary expectations
According to Indeed Salaries, the average salary for a Tax Associate is $62,298 per year. The actual salary that an associate earns depends upon their geographic location, training, experience and what certifications or designations they hold, if any.
Tax Associate salary expectations
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Common salary:
72613.60 YEARLY -
Typical salaries range from
14000.00 -204000.00 YEARLY - Find more information on Indeed Salaries
*Indeed data –
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Tax Associate job description FAQs
How do the job duties of a Tax Associate differ based on employer type?
Tax Associates who work for tax preparation services typically only handle federal, state and local income tax preparation and may provide audit assistance as required. Those employed by financial services companies and accounting firms may have additional duties. Some complete tax forms that are distributed to employees and contractors, such as 1099 and W-2 forms. They may also assist with quarterly tax filings or calculating tax estimates. Because of these differences, Tax Associates who work for accounting firms and financial services companies usually benefit from more experience and education.
Who does a Tax Associate report to?
Who a Tax Associate reports to depends on the structure of your company. You may have a Tax Manager who oversees the work of several Tax Associates and other employees, such as Assistant Tax Associates or Accounting Clerks. At smaller companies, the Tax Associate may report to a Tax Accountant or a Certified Public Accountant.
What qualities make a good Tax Associate?
Attention to detail is an asset for a Tax Associate, as tax forms are highly complex. Quality candidates will also demonstrate a passion for both accounting and lifelong learning. In addition, good Tax Associates are ethical, discreet and able to work well under pressure. A customer-centered mindset is also important to ensure that your clients receive exceptional service from your firm.
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