Page 198 - Business Principles and Management

Chapter 7 • Legal Aspects of Business

Career Cluster

Tax Accountant

ax accountants work with businesses and Working in an Accounting Firm
individuals to reduce their taxes by devel- Ryan completed his bachelor’s degree in ac-
T oping strategies that maximize deductions counting. As a student, he worked as a volun-
and minimize taxable revenue. They also help teer helping people fill out personal tax forms.
develop investment strategies. Tax accountants After graduating, he started working for a
must understand federal and state tax laws. medium-size accounting firm as a trainee. After
Some work for federal and state tax agencies. passing the CPA exam, he worked for three
years as a junior tax accountant. He was then
Employment Outlook promoted to tax accounting, supervising a team

In 2004, there were about 1.2 million jobs of accountants helping businesses develop tax
for U.S. accountants and auditors. These are strategies. Ryan hopes to become a tax account-
expected to increase significantly through ing manager, then a chief tax accountant, and
the year 2014. This job expansion is linked ultimately a partner in the firm.
to economic growth, changing financial laws
and regulations, increased scrutiny of com- Career Assessment
pany finances due to accounting scandals, Why are tax accountants important to busi-
and congressional legislation designed to nesses and individuals? Why do they need
curb corporate accounting fraud. years of training? What do you like and dislike
about this career area?
Job Titles
Accounting Trainee
Junior Tax Accountant
Tax Accountant
Tax Accounting Manager
Chief Tax Accountant

Needed Skills
• Must possess a bachelor’s degree in account-
ing from an accredited college or university.
• Should have an aptitude for mathematics
and be able to analyze, compare, and inter-
pret facts and figures quickly.
• Public accountants must pass the Certified PHOTO: © DIGITAL VISION.
Public Accounting (CPA) exam. Some employ-
ers may require a master’s degree and a CPA
license.

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