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Career and Education Opportunities for Income Tax Advisors in Detroit, Michigan

If you want to be an income tax advisor, the Detroit, Michigan area offers many opportunities both for education and employment. The national trend for income tax advisors sees this job pool growing by about 2.9% over the next eight years. Income tax advisors generally prepare tax returns for individuals or small businesses but do not have the background or responsibilities of an accredited or certified public accountant.

A person working as an income tax advisor can expect to earn about $9 per hour or $20,390 per year on average in Michigan and about $14 hourly or $29,420 per year on average in the U.S. as a whole. Compared with people working in the overall category of Accounting and Auditing, people working as income tax advisors in Michigan earn less. They earn less than people working in the overall category of Accounting and Auditing nationally. Jobs in this field include: tax preparer, certified income tax preparer , and corporate tax preparer.

There are seventy-three schools of higher education in the Detroit area, including thirteen within twenty-five miles of Detroit where you can get a degree to start your career as an income tax advisor. The most common level of education for income tax advisors is a high school diploma or GED. It will take only a short time to learn to be 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 Detroit 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.
  • 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

Henry Ford Community College - Dearborn, MI

Henry Ford Community College, 5101 Evergreen Rd, Dearborn, MI 48128-1495. Henry Ford Community College is a large college located in Dearborn, Michigan. It is a public school with primarily 2-year programs and has 15,571 students. Henry Ford Community College has a less than one year program in Accounting Technology/Technician and Bookkeeping which graduated two students in 2008.

Walsh College of Accountancy and Business Administration - Troy, MI

Walsh College of Accountancy and Business Administration, 3838 Livernois, Troy, MI 48083-5066. Walsh College of Accountancy and Business Administration is a small college located in Troy, Michigan. It is a private not-for-profit school with primarily 4-year or above programs and has 3,109 students. Walsh College of Accountancy and Business Administration has a master's degree program in Taxation which graduated twenty-five students in 2008.

Wayne State University - Detroit, MI

Wayne State University, 656 West Kirby Street, Detroit, MI 48202. Wayne State University is a large university located in Detroit, Michigan. It is a public school with primarily 4-year or above programs. It has 31,025 students and an admission rate of 79%. Wayne State University has a master's degree program in Taxation which graduated five students in 2008.

Dorsey Business Schools - Madison Heights, MI

Dorsey Business Schools, 30821 Barrington, Madison Heights, MI 48071. Dorsey Business Schools is a small school located in Madison Heights, Michigan. It is a private for-profit school with primarily less-than 2-year programs and has 216 students. Dorsey Business Schools has a less than one year program in Accounting Technology/Technician and Bookkeeping which graduated four students in 2008.

Baker College of Allen Park - Allen Park, MI

Baker College of Allen Park, 4500 Enterprise Dr, Allen Park, MI 48101. Baker College of Allen Park is a small college located in Allen Park, Michigan. It is a private not-for-profit school with primarily 4-year or above programs and has 2,548 students. Baker College of Allen Park has a one to two year program in Accounting Technology/Technician and Bookkeeping which graduated one student in 2008.

Schoolcraft College - Livonia, MI

Schoolcraft College, 18600 Haggerty Road, Livonia, MI 48152-2696. Schoolcraft College is a large college located in Livonia, Michigan. It is a public school with primarily 2-year programs and has 12,560 students. Schoolcraft College has a one to two year and an associate's degree program in Accounting Technology/Technician and Bookkeeping which graduated six and twenty students respectively in 2008.

Washtenaw Community College - Ann Arbor, MI

Washtenaw Community College, 4800 E Huron River Dr, Ann Arbor, MI 48105-4800. Washtenaw Community College is a large college located in Ann Arbor, Michigan. It is a public school with primarily 2-year programs and has 12,906 students. Washtenaw Community College has a less than one year and an associate's degree program in Accounting Technology/Technician and Bookkeeping which graduated thirty-one and seventeen students respectively in 2008.

Cleary University - Ann Arbor, MI

Cleary University, 3601 Plymouth Rd, Ann Arbor, MI 48105-2659. Cleary University is a small university located in Ann Arbor, Michigan. It is a private not-for-profit school with primarily 4-year or above programs and has 723 students. Cleary University has an associate's degree program in Accounting Technology/Technician and Bookkeeping which graduated six students in 2008.

Baker College of Clinton Township - Clinton Township, MI

Baker College of Clinton Township, 34950 Little Mack Ave, Clinton Township, MI 48035. Baker College of Clinton Township is a medium sized college located in Clinton Township, Michigan. It is a private not-for-profit school with primarily 4-year or above programs and has 5,666 students. Baker College of Clinton Township has a one to two year program in Accounting Technology/Technician and Bookkeeping which graduated two students in 2008.

Baker College of Auburn Hills - Auburn Hills, MI

Baker College of Auburn Hills, 1500 University Dr, Auburn Hills, MI 48326-2642. Baker College of Auburn Hills is a small college located in Auburn Hills, Michigan. It is a private not-for-profit school with primarily 4-year or above programs and has 3,848 students. Baker College of Auburn Hills has a one to two year program in Accounting Technology/Technician and Bookkeeping which graduated one student in 2008.

Oakland Community College - Bloomfield Hills, MI

Oakland Community College, 2480 Opdyke Rd, Bloomfield Hills, MI 48304-2266. Oakland Community College is a large college located in Bloomfield Hills, Michigan. It is a public school with primarily 2-year programs and has 24,957 students. Oakland Community College has a one to two year and an associate's degree program in Accounting Technology/Technician and Bookkeeping which graduated five and seventeen students respectively in 2008.

Monroe County Community College - Monroe, MI

Monroe County Community College, 1555 South Raisinville Road, Monroe, MI 48161-9746. Monroe County Community College is a small college located in Monroe, Michigan. It is a public school with primarily 2-year programs and has 4,514 students. Monroe County Community College has a one to two year and an associate's degree program in Accounting Technology/Technician and Bookkeeping which graduated one and eleven students respectively in 2008.

Wayne County Community College District - Detroit, MI

Wayne County Community College District, 801 W Fort St, Detroit, MI 48226. Wayne County Community College District is a large college located in Detroit, Michigan. It is a public school with primarily 2-year programs and has 21,540 students. Wayne County Community College District has a one to two year and an associate's degree program in Accounting Technology/Technician and Bookkeeping which graduated three and seven students respectively 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: Detroit, Michigan

Detroit, Michigan
Detroit, Michigan photo by Durova

Detroit is located in Wayne County, Michigan. It has a population of over 912,062, which has shrunk by 4.1% in the past ten years. The cost of living index in Detroit, 86, is well below the national average. New single-family homes in Detroit are priced at $108,900 on average, which is well below the state average. In 2008, eighty-five new homes were built in Detroit, down from one hundred fifty-four the previous year.

The three big industries for women in Detroit are health care, educational services, and transportation equipment. For men, it is transportation equipment, construction, and administrative and support and waste management services. The average commute to work is about 28 minutes. More than 11.0% of Detroit residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 4.2%, is lower than the state average.

The unemployment rate in Detroit is 27.0%, which is greater than Michigan's average of 14.3%.

The percentage of Detroit residents that are affiliated with a religious congregation, 37.7%, is less than both the national and state average. The most common religious groups are the Catholic Church, the Muslim Estimate and the Lutheran Church.

Detroit is home to the Memorial Park Marina and the Detroit Golf Club as well as Chene Park and Mallett Playground. Visitors to Detroit can choose from Corktown Inn, Clark's Motel and Days Inn of Downtown Detroit for temporary stays in the area.