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Tax Preparation Training: FAQs and Answers
Tax Preparation Training: FAQs and Answers
If tax season doesn't send you into fits of panic, and you crunch numbers in your sleep, perhaps a career in tax preparation is for you. And if you would like to turn your ease around income and deductions into a job, read further. Here you will find answers to frequently asked questions about how you can pursue tax preparation training as a first step towards a fulfilling career in finance.
Frequently Asked Questions
What's involved in tax preparation?
You will complete tax returns for individuals and businesses, calculating balances or refunds. You must be familiar with state and national tax codes, incomes, and deductions, plus keep abreast of the ever-changing tax code. Begin by researching schools that offer the training you require or want.
Where can I find tax preparation schools near me?
You can find a listing of tax preparation schools here.
What will I learn during tax preparation training?
Many certificate, degree, and diploma programs include basic and advanced accounting, tax law, auditing, and general business education. You will learn about income, deductions, dependents, payroll, and much more. Plus, you can learn how to use the many computerized accounting and tax software applications now commonplace in many offices.
What employment opportunities exist after tax preparation school?
Employment opportunities in the field are vast. Nearly every individual, business, and not-for-profit organization is required to file a tax return. You can work full-time in a corporate setting, or part-time from home, depending on your needs. The work may be seasonal, making it busiest during certain times of the year (like spring, just before filing deadlines).
How long does it take to become a tax preparer?
Through full-time study, it will probably take about two years to complete an associate's degree. More in-depth bachelor's degrees in business or accounting will likely take about four years of study. Certification programs from professional schools may take less than one year.
What is a typical tax preparer salary?
According to statistics from May 2009, the mean hourly wage was $17.34, or about $36,000 annually.* However, salaries ranged from around $20,000 to $60,000, depending on geographic location, and the industry in which the work was performed.
What skills are important for tax return preparation?
Having an interest in math, economics, and accounting is important. You should also have good written and oral communication skills, since it's important to speak with clients and understand their needs. You should also feel comfortable using computers.
Do I need a high school diploma to work as a tax preparer?
Yes, you will likely need a high school diploma to work in the field, as a high school diploma, or an equivalent, is necessary to begin post-secondary education. However, it's best to check with the specific schools that interest you to determine individual prerequisites.
Can I attend tax preparation school online?
Yes. You can find tax preparation programs that are available through online and distance learning in this guide to online accounting schools.
Will I require certification after my tax preparation training?
With new, stricter requirements from the Internal Revenue Service (IRS) around tax preparers in the U.S., certification is a prudent step. The IRS requires tax preparers to register online, pass competency tests, and pursue ongoing education. Certification will ensure you meet these requirements, and many schools can help prepare you to attain certification designations, such as the Enrolled Agent (EA), Certified Bookkeeper, or Accredited Tax Preparer (ATP).
Let's add it all up
Taxes aren't going anywhere. It's likely we'll pay taxes our entire lives, and as the laws evolve and change, it's becoming more important to consult experts in the field to ensure we're following the rules. If you have an interest in finance, and consider finding every last deduction a challenge, a career in the field might be the right fit. Take a look at this online directory of tax preparation schools to learn more.
*Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2010-11 Edition, web site accessed February 22, 2011.
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