Career Overview: Tax Accounting

"The only sure things in life are death and taxes" is how the old saying goes. So what more secure job than being a tax accountant?

A tax accountant helps individuals or businesses file their taxes. Essentially, their job is to help the client end up with the highest after-tax income possible.

The current tax system is very complex, and is designed to provide incentives to businesses and individuals to act in certain ways. For example, an individual who contributes their money to charity instead of spending it on a new car will pay less tax. Tax accountants learn how to use these incentives to their client's advantage, while following tax law.

Studying to be a Tax Accountant

Undergraduate accounting programs are the same for all types of accounting. However, if you would like to specialize in tax, you can earn a Masters of Accountancy with a focus in tax.

An undergraduate accounting degree usually will not offer too many classes in tax. At the University of Georgia, for example, undergraduate students are required to take three financial accounting classes, but only one class in individual taxation. However, if you have room in your schedule and would like to learn more about tax, you can take more tax classes as electives.

Most states now require five years of college courses to get your Certified Public Accounting license. Most people choose to earn a Masters degree for their fifth year.

If you focus on tax while earning a Master's degree in accounting, you will be able to tax many specialized classes in tax. For example, the University of Texas - Austin, offers a tax track in their Masters of Public Accountancy program. Some of the required classes include Taxation of Partnerships, Taxation of Corporations, and Tax Research Methodology.

Tax vs. Audit

Many undergraduate accounting students planning to go into public accounting face the decision of whether they would like to work in tax or audit.

Often people will enjoy either tax classes or financial accounting classes far more than the other. If you find tax to be a far more stimulating subject than financial accounting, tax is probably a better track for you than audit.

Some people claim that tax is more difficult than audit. The truth is that both jobs require a lot of hours every week, but auditors spend more time out of the office and work at home more often. If you enjoy doing your work in an office tax might be the best choice for you.

Characteristics of a Good Accountant

Accounting does not involve very difficult math, but accounting students should be comfortable with numbers and simple algebra. Accountants also need to pay close attention to details.

If you exhibit the above characteristics, consider taking a few accounting classes-you might surprise yourself with how much you enjoy them. Despite its reputation, accounting can be a fun and interesting job.