Tax Associate Career Guide and Counseling

Question: What should I expect to get paid as a tax senior associate? I am getting promoted and a raise very soon, and I want to know what I should expect my salary to be. Does anyone care to share what they were paid after going from tax associate to tax senior?

Answer: peanuts

Question: what is the responsiblitites of a tax associate? I know this may sound stupid, but what exactly do they do other than prepare income tax?

Answer: If you mean a tax preparer - they are suppose to take your information and put your numbers to calculate a return. They are NOT responsible for wrong info that you give them. Other than that, what are you asking. Some do bookkeeping. Some do corporate returns. Corporations have fiscal years that may be different than the calendar year so there are many different due dates. A corp. year ending 12/31 has a return due 3/15 of the next year. It's due 9/15 if on extension.

Question: Is there such a job as an accountant golf pro I am a scratch golfer 24 yrs old working as a tax associate? Does anyone know of a job that either allows you to play/practice my golf game while working as an accountant? Or are there any golf courses out there that allows a person to do 2 jobs such as golf course accountant/asst pro?

Answer: I guess you can look for an accountant position with a golf management company, that way you can practice/play during your lunch hour and play after you get off of work.

Question: Interview question about Tax associate? I m going to have an interview, the position is Tax associate. and i know that they gonna ask me " why do u want to be tax associate?",, does any how know how should i answer this question in a more formal way??

Answer: You need to find out the job description and duties. A good all-around answer is that you enjoy working with taxes and helping people, or helping the company succeed if your job does not involve client contact.

Question: Any Tax Associates in a Big 4 firm or anywhere else?? How do you like your job? Just wondering what you think about being a tax associate, for those who apply to this question. Just wanna hear some opinions on the negatives and the positives about your workplace, your job, why you chose a career in tax, etc... I'm in the same line and I wanted some opinions about this career option. Thanks!

Answer: I answered this in another spot, but will list it here again: I'm not at a big 4, but am speaking as someone at a large regional firm. Pros- 1) You will never stop learning or reach a point in your job where you feel you have bottomed out. If you have the ambition, you will learn more each month than you would a year in school. 2) You will find yourself rise at a faster rate than your peers who go into sales. In just a few years not only will you be making a nice living (starting pay isn't bad either), but you will find yourself talking to the heads of large corporations as their equal in shorter time than you would think (CFOs etc. will go to you for advice) 3) Job security- If you are good at what you do, you will never find yourself out of work for long unless that is your choice. The demand for good help is too great and that will never change to the point that you can't find a position to meet your needs. Cons 1) The hours- especially during tax season. This hurts especially if you have young children. But, if you are not too much of a family person, and the family & friends you have are flexible, this shouldn't be a reason to avoid the occupation. You will probably know within a month of busy season whether you can handle the workload. 2) The specialization- If you concentrate on personal tax for instance, there isn't much use for that outside of the field except for maybe as a financial advisor. If you specialize in smaller corps ($10-$50 million in rev), and do more than tax work, you can find yourself becoming more suited for a controller position. If you love tax though this isn't an issue though as there is always work for someone who is competant. I chose my career in tax because that was the position available starting out-but I do not regret it. Compared to Audit, I'm in the office more and have a more steady commute, etc. But, by working with the size clients that I do, I am able to get out of the office a lot and not be stuck in Profx all day. Really depends upon what specific duties you will be able to do. If you are stuck doing only trust returns, I personally would grow to hate that. But if you are dealing with all levels of the engagement and all types of clients, then the job can be a lot more exciting- at least for myself. My best advice- big 4 firm experience is great. But if you want more variety in your work, you can consider switching to a smaller national or a large regional firm easily and pick what you want to do once you have a years worth of experience.

Question: What is the flip tax associated with buying a coop and who pays it? My wife and I are considering buying a coop and need to understand what is the flip tax and why is it associated with coops.

Answer: When you buy a co-op what you are purchasing are shares in the corporation. I've never heard of a "fliptax". Typically when you buy real estate there is a transfer tax, but because you're buying shares of a company I don't think those apply.

Question: I want to find a tax associate job in law firm or big4, anybody can give me some leads or contacts? I have a CPA/LLM tax background,

Answer: I have no leads, but you should call the firms and find out to whom you can send your resume. Use the telephone book.

Question: I am on the deed (as associate) but not on the loan/mortgage can I claim the interest on my tax refund? I am on the deed (as associate as stated on the county clerk recorder) but not on the loan/mortgage I occupy the property, pay property tax and the mortgage as well with my personal check. Can I say that I own the property and can claim the interest on my tax refund?

Answer: I agree with Kathy R. One thing that I would do is sign a simple agreement with the person whose name is on the mortgage that states that you are legally responsible for the mortgage and entitled to claim the interest deduction. You can take the interest deduction even if you don't get a 1098 -- report the interest you paid on line 11 of Sch A (instead of line 10) and include an explanation with your return that identifies your ownership of the house and the existence of the agreement.

Question: Guys please tell me which to choose, Tech support or Process tax associate. I am really confused.? I am working in Tech Support , but now i got job in Process Associate - Tax in First India Corporation. Please tell me something about the company also, i am totally confused.

Answer: which pays more and which has more benefits......also, where do you have better prospect of going up in rank in the company. another is which company is a better company and is more stable. if money and benefits are not a priority to you, then pick the job you like best. also, ask other people such as your wife or family. but in the end you will make the decision yourself. another thing.....did you apply for this job as a process associate in first india corporation while you were working as a tech support? what made you apply for it? there must be a reason why you tried to get another job. is this new job a higher position than what you have now? all these questions you have to ask yourself and find out what your priorities are and there is where you head to.... these are some sites you can check out to learn about about this company... http://www.jobsahead.com/First_Indian/co… http://www.firstindiancorp.com/news-even… http://www.firstindiancorp.com/index.asp http://www.jobsahead.com/First_Indian/in… ...

Question: What is a good reference to learn about tax laws and liabilities associated with investments- ) stocks & equit I am just learning investing and have no clue about tax liabilities associated with the gains and losses. I am alsointerested in understanding capitol gains on realestate?

Answer: Read about those in Publication 17 and other free publications from the IRS. Investments take in a lot of information such as Roth and IRA and ownership of a business entity.