Tax Associate Salary
With a median pay of $67K, WTAS, LLC Tax Associates make much more than the national average ($56K per year) for those in this field. Those in search of high salaries should also consider KPMG, LLP, Moss Adams LLP, and EY (Ernst & Young), top-paying firms where Tax Associates rake in a comfortable $61K, $61K, or $60K, respectively. The data in this summary comes from the PayScale salary survey.
Job Description for Tax Associate
A tax associate ensures their company is reporting their finances and submitting tax paperwork in compliance with relevant laws and regulations. Tax associates generally do not work independently, but instead are hired on as part of a team. The tax associate reviews their company's financial records to verify that the company is in compliance with laws (such as Internal Revenue Service requirements). They also must ensure the company is paying proper taxes for payroll, income, investments, and property. The tax associate generally has access to many different company financial documents to guarantee the correct taxes are being paid. They must be highly organized to keep track of these files, and they must follow any relevant company privacy rules and privacy laws.Read More...
Tax associates typically work in an office environment during regular business hours. However, overtime may be required; for example, during busy periods such as upcoming filing deadlines, a tax associate may be required to work evenings and weekends. Tax associates usually work closely with accountants, other tax aides, and other relevant financial professionals in the office.
A bachelor's degree in accounting, auditing, or a related field is typically required for this position. Larger companies may require a master's degree in a relevant field as well. Status as a certified public accountant (CPA) may be required or preferred as well.
Tax Associate Tasks
- Use software to enter data and file taxes for clients.
- Collect, validate and return tax documents.
- Ensure compliance to timelines, information requests and legal requirements.
- Research and explain tax information, needs and paperwork, offering advice.
Common Career Paths for Tax Associate
Tax Associates sometimes assume positions such as Senior Tax Managers. That role pays $123K per year on average. Career advancement for the typical Tax Associate often leads to becoming a Tax Manager or a Senior Tax Accountant; median salaries in these positions are $37K higher and $9K higher, respectively.
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Popular Skills for Tax Associate
Tax Associates report using a pretty varied skill set on the job. Most notably, facility with Legal Research and Tax Consulting are correlated to pay that is significantly above average, leading to increases of 54 percent and 8 percent, respectively. Skills that are correlated to lower pay, on the other hand, include Quickbooks and Microsoft Word. Those proficient in Tax Compliance are, more often than not, also skilled in Accounting.
Pay Difference by Location
For those looking to make money, Tax Associates in San Jose enjoy an exceptional pay rate, 18 percent above the national average. Tax Associates will also find cushy salaries in San Francisco (+12 percent), New York (+11 percent), Los Angeles (+8 percent), and Seattle (+7 percent). Those in the field find the lowest salaries in Indianapolis, 9 percent below the national average. Two other places where employers offer below-median salaries are Pittsburgh (7 percent less) and Atlanta (4 percent less).
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