If you enjoy subjects like finance and taxation, you may want to learn what it takes to become a tax manager. A tax manager primary duties are to manage tax reporting, keep the organization in compliance and to stay on top of new laws and legislation, according to Salary. To hold this title, you will need to get formal training and then also get experience in some area of finance. Taking the proper steps to becoming a tax manager is essential to climb the ladder as quickly as possible. Here are the steps that you can take so that you can hold the title tax manager in shortest possible time:
Get the Proper Formal Degree
Education is extremely important when you are pursuing a career in accounting revolving around something like taxation. The very first step to start a professional life in tax management is to earn a diploma, but after you earn that diploma you will need to enroll in a formal degree program. The program that you need to complete should focus on taxation, tax accounting, business administration and more. It is generally recommended to earn a Bachelor’s in Accounting degree, but related majors may be acceptable if they have a concentration in tax accounting, according to Wise Geek.
Earn Your Master’s Degree in Accounting
The next step would be to advance your degree by earning a Master’s or an MBA with a concentration in Accounting. Taking a Master’s in Accounting or Taxation will teach you the technical skills you need to stay up on tax law and to ensure that a corporation complies with the law. An MBA will more likely focus on the business aspects of being in tax management. You can take courses that concentrate on accounting, but the entire program is more generally focused on business.
Find Out the CPA Requirements
A majority of state’s require that you have a Master’s degree or additional coursework completed before you can become a CPA. You will need to review your state board of accountancy’s requirements before you apply to sit for the exam that you will need to pass to become certified, according to Becker’s. Most corporations will require you to be a CPA before applying for a tax management position. In addition to formal training, you may need one to two years of professional experience in accounting before you can test.
Professional Experience in Finance
You hold a lot of responsibility when you are a tax manager. In order to show that you are prepared for the positions you are signing up for, most corporations require that you have professional experience in finance or accounting. Some of the smaller organizations may only require you to have three to four years of experience, but other larger corporations may want you to have 10 years of relevant experience in a corporate setting.
Related Resource: Senior Auditor
It is very important to network and build relationships as you are climbing your way up the corporate finance ladder. Once you complete an accredited degree program and then a graduate program, you can show you are committed to the field by getting certified. After you are certified, you can begin working as a credentialed finance professional and attract corporations. Taking the right steps will help you become a tax manager without delay.