A Tax Analyst is responsible for analyzing and interpreting financial data from various sources to determine the most advantageous business strategy. Using data to help companies make more informed decisions, this role combines modeling, operations, and technology. The role is responsible for US Federal income tax compliance, state and local tax filings, quarterly income tax provision, and long-term forecasting. While not as complex as a CPA or a financial analyst, the role requires analytical skills and the ability to work independently.
A typical day in the life of a Tax Analyst consists of reviewing, preparing, and filing tax returns. Tax Analysts may work with individual taxpayers filing single or joint returns, as well as with business owners filing taxes. They must compile client documentation, prepare return documents, and file paperwork according to deadlines. In addition to annual tax filings, many of these positions may also be required to prepare quarterly tax payments for corporate clients. As a result, the job requires excellent time management skills.
A person applying to become a tax analyst should have strong communication skills. In addition to understanding tax laws and procedures, they should be able to explain complex financial information to clients. A tax analyst’s job description is a valuable part of the job search process. The following information is a sample tax analyst job description for reference. They should be able to determine whether or not a potential candidate is right for the role. You can use this sample to develop a unique job description for a tax analyst.
A full-time Tax Analyst is needed to support sales tax setup and preparation, and prepare income tax estimate payment calculations. They must prioritize accuracy and efficiency, have advanced Excel skills, and value strong internal controls. They will also be responsible for handling tax audits and research tax opportunities. The typical day of a Tax Analyst includes managing a variety of projects and ensuring that the company is compliant with all tax laws. They are also responsible for ad hoc projects and preparing documents for internal and external stakeholders.
Those looking for a career as a Tax Analyst should have a bachelor’s degree and a significant amount of experience. Tax analysts usually have at least a year of work experience and many employers prefer candidates with an MBA or equivalent. They should also be able to communicate complex tax information to clients effectively. The following job description highlights some of the skills needed for a Tax Analyst. They may also have to work overtime to meet deadlines.
A degree in accounting or taxation is required for becoming a Tax Analyst. Having a CPA license will also improve your chances of landing a job in this field. In addition to a Bachelor’s degree, candidates must also possess strong analytical and quantitative skills. Excellent communication and organization skills are essential for this job. A Tax Analyst may be a self-employed professional, though it is not always a lucrative career. For those looking to pursue a career in Tax Analysis, a CPA or MBA is a good idea.