A corporate tax accountant job generally entails working on taxation issues within the accounting department of a large corporation. This kind of job appeals to accountants who enjoy feeling part of an organization, and being able to make a tangible contribution to the growth and profitability of a company through the use of savvy tax planning strategies. To help give you a better idea of what a corporate tax accountant does, this article will explore what type of qualifications are necessary to get hired as a corporate tax accountant, how much they get paid, and what type of advancement opportunities exist for top performers.
With the job requirements varying from industry to industry it can be hard to move from one corporate accounting job to another. A corporate tax accountant can build up expertise within one industry and not know much about accounting rules and laws for another industry. Essentially what someone in a corporate tax accounting position does is manage and monitor the tax and book records for a corporation. This position is essential for any type of business that exists because taxes can be costly and it is very important to know exactly what costs are associated with them in order for a corporation to be profitable.
The salary that someone can get paid in this type of position will depend largely on their specific role within the company. New hires for medium to large companies will usually start at a salary between $38,000 and $48,000. Someone that has been with the company for a few years can get raises that will increase their salary to anywhere between $43,000 and $60,000 per year. If someone were to get a promotion to a senior position they could expect to receive anywhere between $51,000 and $78,000 in annual salary. If someone were to get hired on as a manager then the salary range increases quite a bit from $65,000 all the way up to over $100,000. The salary that a corporate tax accountant gets paid is going to have a lot to do with the experience level and qualifications of the individual. It also depends on the size of the corporation as well as the earnings of the corporation.
For most corporate tax jobs it will be required to have a bachelor’s degree in accounting for an entry-level position. For higher level corporate tax accounting positions it may be required to receive additional education or certifications as well as have actual experience working in the industry. Some corporations may require certain expertise in certain aspects of tax law in order to get hired.
I hope this article has helped you gain a good understanding of what a corporate tax accountant does, earns, and can do. If you are someone that is currently in college studying accounting and are considering which area you'd like to work in then you should now have a much better idea of what this particular type of job is all about.