Tax Preparers
Tax preparers prepare tax returns for individuals or small businesses.
A tax return preparer's jobs entail using appropriate adjustments, deductions, and credits to keep clients' taxes to a minimum, computing taxes owed or overpaid, using adding machines of personal computers and completing entries on forms following passage instructions and text tables. A tax advisor interviews clients to obtain additional information on taxable income and deductible expenses, and allowance. Alongside, they review financial records such as income statements and documentation of expenditures to determine forms needed to prepare tax returns. Moreover, tax preparers assist in preparing simple to complex tax returns for individuals or small businesses.
To become a tax advisor preparer, an individual should hold a graduate degree from a recognized university of management, commerce economics, business administration, law, mathematics or statistics. Relevant courses or licences may be required to work as a tax preparer. Attorneys and certified public accountants automatically become tax preparers with unlimited representation rights upon receiving licensure from their state. Enrolled licenced agents can also become tax preparers.
A tax preparer is a recession-proof career with no cap on income, and an individual holds knowledge that saves taxes. As they have all information about the clients' financial transactions, they should be reliable. These experts should have excellent people skills along with the aptitude to learn tax law to earn a good certified tax preparer salary. In addition, they should have excellent communication skills, expertise in accounting, mathematics, and a sense of responsibility.
Qualifications
Every career requires an element of study and academic qualification, and there can be several study routes and pathways you can take. In following any academic pathway you will study subjects that contribute to the specialised knowledge required to achieve your career goals. These qualifications provide a future employer with the evidence that you have the desired knowledge, understanding and experience of their industry, so it’s important to consider the various types of qualifications available to you and to understand how they can boost your career and create opportunities for you.
- B.Com Business Administration
- BBA Bachelor of Business Administration
- Diploma Accountancy
Tasks
- Compute taxes owed or overpaid, using adding machines or personal computers, and complete entries on forms, following tax form instructions and tax tables.
- Prepare or assist in preparing simple to complex tax returns for individuals or small businesses.
- Use all appropriate adjustments, deductions, and credits to keep clients' taxes to a minimum.
- Interview clients to obtain additional information on taxable income and deductible expenses and allowances.
- Review financial records, such as income statements and documentation of expenditures to determine forms needed to prepare tax returns.
- Furnish taxpayers with sufficient information and advice to ensure correct tax form completion.
- Consult tax law handbooks or bulletins to determine procedures for preparation of atypical returns.
- Calculate form preparation fees according to return complexity and processing time required.
- Check data input or verify totals on forms prepared by others to detect errors in arithmetic, data entry, or procedures.
- Answer questions and provide future tax planning to clients.
Progression Routes
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