Need Help This Tax Season? Consider These 4 Types of Tax Professionals
It’s that time of the year every business observes and most professionals dread: Tax season is officially here. As the shadow of filing deadlines looms ahead, getting your financial team into shape is key to cruising into Q2 and leaving the last fiscal year behind.
If you find yourself in the unenviable position of losing a trusted tax professional, or you’re experiencing the ambivalence of skyrocketing growth and rapidly expanding tax needs, you’re probably feeling the pressure more than usual. But there’s no need to fret. When you bring on board the right professionals—even just for a season—you’ll get the skill sets you need to alleviate your tax time woes.
Here are four types of tax professionals that can shore up your financial team—we’ll even break down what each of these fiscal superstars expects to earn in 2023.
1. Senior Tax Accountant
When your tax needs are straightforward and you simply want to check filing off your to-do list, a tax preparer can get the job done. But as your business grows, an accountant can help you optimize your finances, maximize deductions, and set you up for a more profitable future.
Senior tax accountants have the licensing and education required to not only prepare and file returns, but also build a robust tax strategy for your business. They familiarize themselves with local and federal regulations, then advise your team about new ways to improve documentation and procedures year-round. Senior accountants can also manage and mentor any junior tax accountants on your team.
Average Expected Salary: $93,201
2. Audit Manager
No business wants to deal with financial penalties. Staying compliant with regulations and steering clear of costly tax errors starts with bringing an audit manager onto your team.
Audit managers organize internal audits and oversee the process from start to finish. They play a key role in aligning your financial processes with tax laws and identifying any mismanagement—accidental or not—that could get flagged by the IRS.
The more complex your taxes are, the more valuable an audit manager may be for your organization.
Average Expected Salary: $134,101
3. Senior Auditor
You have a solid auditing strategy ready. Who’s going to make it happen? If the answer isn’t anyone in your company, a senior auditor can be a key addition to your financial team.
The role of senior auditors can be flexible. They’re knowledgeable enough to identify and present key findings, as well as offer risk management advice, but they can also fill gaps in your auditing team when necessary.
Senior auditors are hands-on leaders in the auditing process. If you also bring on some junior auditors, they allocate tasks—essentially taking on a project management role for your financial team—and review their work for accuracy and alignment with internal standards.
Average Expected Salary: $93,801
4. Tax Manager
While many types of tax professionals specialize in niche processes, hiring someone to oversee every aspect of the filing process can help your team hit deadlines and get an extra set of eyes for compliance needs.
Tax managers take charge from the time you begin your tax prep to the time you file. Often, they even maintain close relationships with your company to assist with budgeting, financial document review, and other tax-related needs.
Average Expected Salary: $133,151
Bolster Your Financial Team
Tax time can be daunting even with a full roster of financial pros to help you along. When it comes to ensuring your organization is in good fiscal shape for the month of April (and beyond), there are plenty of tax professionals who can offer the support you need. Don’t go it alone. The right recruitment firm will listen intently to your unique needs and keep your team stacked with the right tax professionals.