Senior Tax Accountant Salary
Senior Tax Accountants in the United States take home an average $70K per year. With some bonuses approaching $10K and certain profit sharing proceeds approaching $5K, overall incomes of Senior Tax Accountants spread between $57K and $90K depending on individual performance. The most influential factor affecting pay for this group is residence, though the company and years of experience have a (lesser) impact as well. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. Job satisfaction is reported as high by the vast majority of workers. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 53 percent. The data for this snapshot was collected from individuals who took PayScale's salary survey.
Job Description for Senior Tax Accountant
Senior tax accountants provide an important managerial role in producing tax returns for individual clients as well as businesses. They preside over a team of tax accountant specialists to make sure that the proper amount is being paid by clients to the IRS, state, and local governments. Senior tax accountants must work to ensure that a client pays what is due without overpaying or underpaying. They must have a keen understanding of all tax laws, which change from year to year.Read More...
Many senior tax accountants work in private firms dedicated to doing taxes for clients. Others may work for an individual business in their accounting branch if the company is large enough. Primary duties for a senior tax accountant include preparing tax returns, reviewing tax forms produced by the senior tax accountant's staff, assisting clients with any problems that may arise with their taxes, and estimating tax payments. Senior tax accountants must be very good with numbers and detail-oriented. They must also possess leadership abilities, as they preside over a team. While they do manage other accountants, senior tax accountants also report to a higher-level manager, usually a director of accounting. The hours for this position are typical business hours, Monday through Friday from 8 a.m. to 4 p.m. Senior tax accountants work in office settings, and the tools for work include a calculator, various tax forms, computer, telephone, pen and paper, and other normal office supplies.
Required for this job is at least a bachelor's degree in accounting, finance, or related disciplines. Many in this position have a master's degree in one of these fields. A senior tax accountant must also have five to ten years of experience as a tax accountant. Senior tax accountants may also receive certifications in their field, which may be required in some practices.
Senior tax accountants are important in making sure that accounting teams prepare taxes properly for individuals or businesses. Their services are used by just about all businesses and many individuals who are willing to pay to have their taxes done for them. Proficiency in mathematics and a high degree of organizational skills are important skills to have for a senior tax accountant.
Senior Tax Accountant Tasks
- Prepare tax returns and reports, maintain records, analyze and research complex tax issues.
- Provides support during audits.
- Ensure compliance with state and federal regulations.
- Analyze tax regulations and recommend policies that minimize tax burden.
Common Career Paths for Senior Tax Accountant
Senior Tax Accountants do not often transition into Tax Director roles. The role averages $161K per year. Senior Tax Accountants most often move into positions as Tax Managers or Senior Tax Managers; those groups report median salaries that are $21K higher and $51K higher, respectively.
Senior Tax Accountant Job Listings
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Popular Employer Salaries for Senior Tax Accountant
Senior Tax Accountants fill the offices of leading firms EY (Ernst & Young), KPMG, LLP, Grant Thornton Llp, PricewaterhouseCoopers, and BDO Seidman, LLP. Pay for Senior Tax Accountants is best at PricewaterhouseCoopers, which offers a median salary of $80K. However, the highest reported salaries don't seem to be much higher than the lowest ones; the pay range here runs from $66K to $91K. Soaring salaries can also be found at KPMG, LLP, RSM McGladrey Incorporated, and Grant Thornton Llp, where earnings of $79K, $76K, or $75K are standard for Senior Tax Accountants.
BDO Seidman, LLP, Crowe, Chizek and Company LLP, and EY (Ernst & Young) also rank near the bottom for pay, handing out $63K, $67K, and $70K-paychecks on average.
Popular Skills for Senior Tax Accountant
Survey results imply that Senior Tax Accountants deploy a deep pool of skills on the job. Most notably, skills in Legal Research, Research Analysis, Microsoft Word, and Software Knowledge are correlated to pay that is above average. At the other end of the pay range are skills like Accounting, Financial Analysis, and Quickbooks. Most people experienced in Tax Compliance also know Tax Consulting and Microsoft Excel.
Pay by Experience Level for Senior Tax Accountant
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Senior Tax Accountants with more experience do not necessarily bring home bigger paychecks. In fact, experience in this field tends to impact compensation minimally. Relatively untried employees who have less than five years' experience make $70K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $74K. Senior Tax Accountants bring in $78K after working for 10 to 20 years. Folks who have racked up more than 20 years in the field report incomes that aren't higher than less experienced individuals' earnings.
Pay Difference by Location
San Francisco offers some of the highest pay in the country for Senior Tax Accountants, 16 percent above the national average. Senior Tax Accountants will also find cushy salaries in New York (+14 percent), Denver (+8 percent), Los Angeles (+7 percent), and Philadelphia (+5 percent). Senior Tax Accountants' salaries are heavily influenced by location — Senior Tax Accountants in Buffalo bring in salaries that are 26 percent lower than the national average. Minneapolis and Atlanta are a couple other places where companies are known to pay below the median — salaries are 5 percent lower and 3 percent lower, respectively.
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