How to Learn Tax Accounting
Find an accredited bachelor's degree program., Earn a degree in the accounting field., Prepare for your career while in school., Pass any required exams and gain certifications., Continue your education., Keep an eye on industry changes.
Step-by-Step Guide
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Step 1: Find an accredited bachelor's degree program.
The simple truth of the matter is that most professional tax accountants have at least a bachelor's degree in accounting.
This degree, whether earned online or through a traditional university or college, must come from an accredited school.Luckily, most universities offer a form of an accounting degree.
Just search for a university in your area, one that you want to attend elsewhere, or an online university and find the accounting or business section of their academic catalogue.
See how to find the perfect college for more information on choosing the right school for you. -
Step 2: Earn a degree in the accounting field.
For most tax accountants, there is a variety of possible degrees (majors) that you can choose.
These include almost anything in the business or finance field, such as economics, finance, business, or auditing. , Throughout school, there will be numerous opportunities for you to practice your skills and gain on-the-job experience through internships or temporary work programs.
Learning tax accounting is largely about learning the system and repeating the process until it becomes easy to you, so take advantage any and every opportunity to practice your skills.
In addition, be sure to look for networking opportunities, especially with the big four accounting firms (KPMG, PricewaterhouseCoopers, Deloitte Touche Tohmatsu, and Ernst & Young).Internships or temporary jobs also can provide you with a good opportunity to find a specialty that can make you more valuable to employers.
International tax law, for example, is a complicated field with a demand for talented accountants., If you choose to become a Certified Public Accountant (CPA), you will have to go through rigorous testing.
Even if you don't become a CPA, you are still required to be registered with the Internal Revenue Service (IRS) f you prepare tax returns for businesses or individuals.
This requires gaining a preparer tax identification number (PTIN) from the IRS and may require also passing the Registered Tax Return Preparer Test.Studying for and passing the CPA exam is a massive and difficult undertaking.
For more information, see how to become a certified public accountant (CPA) and how to pass the CPA exam.
You need a PTIN to assist in the preparation of any tax returns filed with the IRS (that are not your own or your business's tax returns).
Go to the IRS's website as https://www.irs.gov/ and search for "PTIN" for more information on applying.The Registered Tax Return Preparer Test is currently being phased in by the IRS in an effort to regulate tax accountants.
Check with the IRS to see if you are required to take the test., Even after finding a job as a tax accountant or CPA, you can benefit from continued education.
Look for opportunities – these can create value that you can use to land a higher-paying job.
You might think about graduate school or becoming a CPA if you have not done so already, for example.
In other cases, you may be required to go back to school.
CPAs needs to take a minimum amount of continued education each year to retain their license., Tax law is constantly changing, so also look for continuing education opportunities that can keep you up to date on important changes you should know.
These opportunities may be available through your accounting firm, online through accredited schools, or in trade publications. -
Step 3: Prepare for your career while in school.
-
Step 4: Pass any required exams and gain certifications.
-
Step 5: Continue your education.
-
Step 6: Keep an eye on industry changes.
Detailed Guide
The simple truth of the matter is that most professional tax accountants have at least a bachelor's degree in accounting.
This degree, whether earned online or through a traditional university or college, must come from an accredited school.Luckily, most universities offer a form of an accounting degree.
Just search for a university in your area, one that you want to attend elsewhere, or an online university and find the accounting or business section of their academic catalogue.
See how to find the perfect college for more information on choosing the right school for you.
For most tax accountants, there is a variety of possible degrees (majors) that you can choose.
These include almost anything in the business or finance field, such as economics, finance, business, or auditing. , Throughout school, there will be numerous opportunities for you to practice your skills and gain on-the-job experience through internships or temporary work programs.
Learning tax accounting is largely about learning the system and repeating the process until it becomes easy to you, so take advantage any and every opportunity to practice your skills.
In addition, be sure to look for networking opportunities, especially with the big four accounting firms (KPMG, PricewaterhouseCoopers, Deloitte Touche Tohmatsu, and Ernst & Young).Internships or temporary jobs also can provide you with a good opportunity to find a specialty that can make you more valuable to employers.
International tax law, for example, is a complicated field with a demand for talented accountants., If you choose to become a Certified Public Accountant (CPA), you will have to go through rigorous testing.
Even if you don't become a CPA, you are still required to be registered with the Internal Revenue Service (IRS) f you prepare tax returns for businesses or individuals.
This requires gaining a preparer tax identification number (PTIN) from the IRS and may require also passing the Registered Tax Return Preparer Test.Studying for and passing the CPA exam is a massive and difficult undertaking.
For more information, see how to become a certified public accountant (CPA) and how to pass the CPA exam.
You need a PTIN to assist in the preparation of any tax returns filed with the IRS (that are not your own or your business's tax returns).
Go to the IRS's website as https://www.irs.gov/ and search for "PTIN" for more information on applying.The Registered Tax Return Preparer Test is currently being phased in by the IRS in an effort to regulate tax accountants.
Check with the IRS to see if you are required to take the test., Even after finding a job as a tax accountant or CPA, you can benefit from continued education.
Look for opportunities – these can create value that you can use to land a higher-paying job.
You might think about graduate school or becoming a CPA if you have not done so already, for example.
In other cases, you may be required to go back to school.
CPAs needs to take a minimum amount of continued education each year to retain their license., Tax law is constantly changing, so also look for continuing education opportunities that can keep you up to date on important changes you should know.
These opportunities may be available through your accounting firm, online through accredited schools, or in trade publications.
About the Author
Mary Armstrong
A passionate writer with expertise in organization topics. Loves sharing practical knowledge.
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