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Career and Education Opportunities for Income Tax Advisors in Boston, Massachusetts

For those living in the Boston, Massachusetts area, there are many career and education opportunities for income tax advisors. There are currently 2,610 working income tax advisors in Massachusetts; this should shrink by 13% to about 2,280 working income tax advisors in the state by 2016. This is not quite as good as the national trend for income tax advisors, which sees this job pool growing by about 2.9% over the next eight years. In general, income tax advisors prepare tax returns for individuals or small businesses but do not have the background or responsibilities of an accredited or certified public accountant.

Income tax advisors earn about $29 per hour or $61,820 yearly on average in Massachusetts and about $14 per hour or $29,420 yearly on average nationally. Earnings for income tax advisors are not quite as good as earnings in the general category of Accounting and Auditing in Massachusetts and not quite as good as general Accounting and Auditing category earnings nationally. Jobs in this field include: tax associate, bookkeeper, and income tax preparer.

There are nine schools within twenty-five miles of Boston where you can study to be an income tax advisor, among 151 schools of higher education total in the Boston area. Given that the most common education level for income tax advisors is a high school diploma or GED, you can expect to spend only a short time training to become an income tax advisor if you already have a high school diploma.

CAREER DESCRIPTION: Income Tax Advisor

Income Tax Advisor video from the State of New Jersey Dept. of Labor and Workforce Development

In general, income tax advisors prepare tax returns for individuals or small businesses but do not have the background or responsibilities of an accredited or certified public accountant.

Income tax advisors ready or help in preparing simple to complex tax returns for individuals or small businesses. They also use all appropriate adjustments and credits to keep clients' taxes to a minimum. Equally important, income tax advisors have to inspect financial records such as income statements and documentation of expenditures to establish forms needed to ready tax returns. They are often called upon to consult tax law handbooks or bulletins to establish processes for preparation of atypical returns. They are expected to compute taxes owed or overpaid, using computers and complete entries on forms, following tax form instructions and tax tables. Finally, income tax advisors furnish taxpayers with sufficient data and advice to insure correct tax form completion.

Every day, income tax advisors are expected to be able to see details at a very fine level of focus. They need to read and understand documents and reports. It is also important that they deal with basic arithmetic problems.

It is important for income tax advisors to check data input or verify totals on forms prepared by others to uncover errors in arithmetic or procedures. Somewhat less frequently, income tax advisors are also expected to calculate form preparation fees in line with return complexity and processing time required.

They also have to be able to interview clients to obtain additional data on taxable income and deductible expenses and allowances And finally, they sometimes have to inspect financial records such as income statements and documentation of expenditures to establish forms needed to ready tax returns.

Like many other jobs, income tax advisors must have exceptional integrity and be thorough and dependable.

Similar jobs with educational opportunities in Boston include:

  • Accountant. Analyze financial information and prepare financial reports to determine or maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
  • Assessor. Appraise real and personal property to determine its fair value. May assess taxes in accordance with prescribed schedules.
  • Auditor. Examine and analyze accounting records to determine financial status of establishment and prepare financial reports concerning operating procedures.
  • Budget Analyst. Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports for the purpose of maintaining expenditure controls.
  • Cost Analyst. Prepare cost estimates for product manufacturing, construction projects, or services to aid management in bidding on or determining price of product or service. May specialize according to particular service performed or type of product manufactured.
  • Credit Analyst. Analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Prepare reports with this credit information for use in decision-making.
  • Financial Analyst. Conduct quantitative analyses of information affecting investment programs of public or private institutions.
  • Financial Examiner. Enforce or ensure compliance with laws and regulations governing financial and securities institutions and financial and real estate transactions. May examine, verify correctness of, or establish authenticity of records.
  • Insurance Appraiser. Appraise automobile or other vehicle damage to determine cost of repair for insurance claim settlement and seek agreement with automotive repair shop on cost of repair. Prepare insurance forms to indicate repair cost or cost estimates and recommendations.
  • Insurance Underwriter. Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
  • Loan Counselor. Provide guidance to prospective loan applicants who have problems qualifying for traditional loans. Guidance may include determining the best type of loan and explaining loan requirements or restrictions.
  • Loan Officer. Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and methods of payments. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.
  • Personal Financial Planner. Advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, and real estate. Duties include assessing clients' assets, liabilities, and financial objectives to establish investment strategies.
  • Real Estate Appraiser. Appraise real property to determine its value for purchase, sales, or loan purposes.
  • Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.

EDUCATIONAL OPPORTUNITIES: Income Tax Advisor Training

Northern Essex Community College - Haverhill, MA

Northern Essex Community College, 100 Elliott Street, Haverhill, MA 01830-2399. Northern Essex Community College is a medium sized college located in Haverhill, Massachusetts. It is a public school with primarily 2-year programs and has 7,020 students. Northern Essex Community College has a less than one year program in Accounting Technology/Technician and Bookkeeping which graduated seven students in 2008.

Bentley University - Waltham, MA

Bentley University, 175 Forest St, Waltham, MA 02452-4705. Bentley University is a medium sized university located in Waltham, Massachusetts. It is a private not-for-profit school with primarily 4-year or above programs. It has 5,675 students and an admission rate of 38%. Bentley University has a master's degree and a post-master's certificate program in Taxation which graduated eighty-six and twenty-one students respectively in 2008.

Suffolk University - Boston, MA

Suffolk University, 8 Ashburton Pl Beacon Hill, Boston, MA 02108-2770. Suffolk University is a medium sized university located in Boston, Massachusetts. It is a private not-for-profit school with primarily 4-year or above programs. It has 7,783 students and an admission rate of 82%. Suffolk University has a master's degree program in Taxation.

Roxbury Community College - Roxbury Crossing, MA

Roxbury Community College, 1234 Columbus Ave, Roxbury Crossing, MA 02120-3400. Roxbury Community College is a small college located in Roxbury Crossing, Massachusetts. It is a public school with primarily 2-year programs and has 2,561 students. Roxbury Community College has an associate's degree program in Accounting Technology/Technician and Bookkeeping which graduated seven students in 2008.

North Shore Community College - Danvers, MA

North Shore Community College, 1 Ferncroft Rd, Danvers, MA 01923-0840. North Shore Community College is a medium sized college located in Danvers, Massachusetts. It is a public school with primarily 2-year programs and has 7,223 students. North Shore Community College has an associate's degree program in Accounting Technology/Technician and Bookkeeping which graduated twenty-two students in 2008.

Massachusetts Bay Community College - Wellesley Hills, MA

Massachusetts Bay Community College, 50 Oakland St, Wellesley Hills, MA 02481-5399. Massachusetts Bay Community College is a medium sized college located in Wellesley Hills, Massachusetts. It is a public school with primarily 2-year programs and has 4,975 students. Massachusetts Bay Community College has a less than one year program in Accounting Technology/Technician and Bookkeeping which graduated four students in 2008.

Bunker Hill Community College - Boston, MA

Bunker Hill Community College, 250 New Rutherford Ave, Boston, MA 02129-2925. Bunker Hill Community College is a medium sized college located in Boston, Massachusetts. It is a public school with primarily 2-year programs and has 9,500 students. Bunker Hill Community College has a less than one year program in Accounting Technology/Technician and Bookkeeping which graduated nine students in 2008.

Northeastern University - Boston, MA

Northeastern University, 360 Huntington Ave, Boston, MA 02115-5000. Northeastern University is a large university located in Boston, Massachusetts. It is a private not-for-profit school with primarily 4-year or above programs. It has 25,368 students and an admission rate of 35%. Northeastern University has a master's degree program in Taxation which graduated twenty-five students in 2008.

Nashua Community College - Nashua, NH

Nashua Community College, 505 Amherst St, Nashua, NH 03063-1026. Nashua Community College is a small college located in Nashua, New Hampshire. It is a public school with primarily 2-year programs and has 1,925 students. Nashua Community College has a less than one year program in Accounting Technology/Technician and Bookkeeping which graduated three students in 2008.

CERTIFICATIONS

Accredited Tax Advisor: This credential is for practitioners who handle sophisticated tax planning issues, including ownership of closely held businesses, qualified retirement plans and complex estates.

For more information, see the Accreditation Council for Accountancy and Taxation website.

LOCATION INFORMATION: Boston, Massachusetts

Boston, Massachusetts
Boston, Massachusetts photo by Ahonc

Boston is situated in Suffolk County, Massachusetts. It has a population of over 609,023, which has grown by 3.4% over the last ten years. The cost of living index in Boston, 136, is far greater than the national average. New single-family homes in Boston are valued at $216,200 on average, which is well below the state average. In 2008, twenty-three new homes were constructed in Boston, down from forty-eight the previous year.

The three most popular industries for women in Boston are health care, educational services, and professional, scientific, and technical services. For men, it is professional, scientific, and technical services, educational services, and accommodation and food services. The average travel time to work is about 29 minutes. More than 35.6% of Boston residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 15.3%, is higher than the state average.

The unemployment rate in Boston is 8.2%, which is less than Massachusetts's average of 8.4%.

The percentage of Boston residents that are affiliated with a religious congregation, 60.0%, is more than the national average but less than the state average. Brighton Congregational Church, Leslie Lindsay Chapel and Universalist Meeting House are some of the churches located in Boston. The largest religious groups are the Catholic Church, the Muslim Estimate and the Episcopal Church.

Boston is home to the Metropolitan Water Works Pumping Stations and the Mystic Pier 1 as well as Schoolboy Stadium and Liberty Square. Shopping centers in the area include Legion Shopping Center, Longwood Galleria Shopping Center and Neponset Circle Shopping Center. Visitors to Boston can choose from Federalist Restaurant, Eco-Logical Solutions and Omni Parker Hotel for temporary stays in the area.