Jobs within the field of accounting continue to be the goals of many students and professionals across the world, and for good reason. These jobs are expected to stay in demand with a blossoming economy welcoming new businesses and providing room for economic growth within existing organizations. If you are seeking a position at the top in the accounting world, a director of taxation position may be the perfect job for you.
What Is A Director Of Taxation?
A director of taxation, also called a tax director or tax manager, is the individual responsible for the management of tax compliance and reporting for the company or organization through which they are employed. Directors of taxation make sure that all necessary tax paperwork and returns are completed accurately and on time. They also ensure preparations have been made for tax filing in the future.
What Responsibilities Does A Director of Taxation Have?
The director of taxation is responsible for the accounting and preparation of all federal and state income tax, as well as all other local, state, and federal filings for all branches of the company, including any applicable International subsidiaries. Directors must have great knowledge of the U.S Tax Code and be able to research and implement tax-saving techniques that reduce the tax bill for the organization. They must also ensure all filings are accurate so the company pays the minimum tax obligations. The director of taxation works alongside the vice president and treasurer to complete tax planning, and must be able to constructively review and assess the work of their direct staff.
Director Of Taxation Education, Experience, And Skills
Many organizations seek applicants with a bachelor’s degree in accounting or a related field and a master’s degree in business taxation or a related field. Organizations also prefer their director of taxation candidates to possess their JD or CPA. Experience-wise, candidates should have at least 10 years experience with five years at a firm specializing in public accounting. The candidate should also have experience within the area of international taxation and possess the skills required to work well in a team environment.
Salary and Job Outlook For Director of Taxation
According to Glassdoor, the salary for a tax director will vary based on a variety of factors including experience, location, education, company size, and the particular industry; however, as of October 2014, the median salary for a director of taxation in the United States is $152,690 with ten-percent of tax directors bringing home a lower salary of $115,013 and ninety-percent making a higher salary of $169,316, annually. According to the Bureau of Labor Statistics, jobs within the field of accounting are expected to grow thirteen-percent through 2022, because they will be needed in greater quantities as the economy continues to grow.
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The director of taxation is the ideal top-tier position for candidates with great attention to detail, organizational skills, an interest in and knowledge of tax laws, and the desire to help an organization economically flourish. If you think you have what it takes, it may be time to research what steps you must cross off your checklist to successfully apply for a position as the director of taxation at your organization of choice.