Tax Associate Salary
The national average salary for Tax Associates is $56K per year; by contrast, WTAS, LLC pays at a significantly higher rate, offering average pay of $67K. Other employers shelling out big bucks include KPMG, LLP, EY (Ernst & Young), and PricewaterhouseCoopers, where Tax Associates typically earn around $61K, $60K, or $59K, respectively. This overview is based on answers to PayScale's salary questionnaire.
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
While Tax Associates do not often become Senior Tax Managers, the job pays $123K per year on average. Tax Associates moving up in their careers tend to step into positions as Tax Managers or Senior Tax Accountants. The median paychecks in those roles are $37K higher and $9K higher, respectively.
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Popular Skills for Tax Associate
Tax Associates seem to require a number of specific skills. 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 7 percent, respectively. At the other end of the pay range are skills like Quickbooks and Microsoft Word. Those proficient in Tax Compliance are, more often than not, also skilled in Accounting.
Pay Difference by Location
Home to some of the best pay for Tax Associates, San Francisco offers exceptional salaries, 15 percent above the national average. Tax Associates will also find cushy salaries in San Jose (+15 percent), New York (+12 percent), Los Angeles (+8 percent), and Boston (+8 percent). The lowest-paying market is Cleveland, which sits 11 percent below the national average. Workers in Atlanta and St. Louis earn less than others in this profession; their salaries fall short of the national average by 4 percent.
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