Tax accountants specialise in areas of taxation and generally have more knowledge than the average accountant on taxation law, practices, and the happenings of tax legislation in government. Professionals in this field work with private individuals, small businesses, in-house with larger corporations or as part of a larger body of tax accountants. Their tasks include:
Keeping track of their client’s taxable income
Lodging thorough and reviewed tax returns
Reviewing the finances and spending of their clients
Investigating options for further tax return potential
Auditing of finances
Tax accountants should be curious, mathematically-minded people who take pride in getting their clients or business the best returns possible. The level of interpersonal skill needed depends on the clientele of the accountant; for instance, if the accountant is dealing with private individuals, then they will need to be able to communicate clearly and effectively what it is they need from them and how they can contribute to getting the best return possible, as well as how to sort out their taxable income and finances.
Being a more specialised branch of accounting, tax accountants will need a business or accounting degree. It’s beneficial to have undertaken further professional or academic development specifically in tax accounting, as well as performing independent research to keep up to date with current tax laws and legislative happenings.