Career and Education Opportunities for Income Tax Advisors in Omaha, Nebraska
Many educational and employment opportunities exist for income tax advisors in the Omaha, Nebraska area. The national trend for income tax advisors 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.
The income of an income tax advisor is about $11 hourly or $24,800 per year on average in Nebraska. In the U.S. as a whole, their income is about $14 hourly or $29,420 yearly on average. Compared with people working in the overall category of Accounting and Auditing, people working as income tax advisors in Nebraska earn less. They earn less than people working in the overall category of Accounting and Auditing nationally. Income tax advisors work in a variety of jobs, including: accountant, tax evaluator, and bookkeeper.
The Omaha area is home to thirty-one schools of higher education, including two within twenty-five miles of Omaha where you can get a degree as an income tax advisor. 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 studying to be an income tax advisor if you already have a high school diploma.
CAREER DESCRIPTION: Income Tax Advisor
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 Omaha 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
Vatterott College-Spring Valley Campus - Omaha, NE
Vatterott College-Spring Valley Campus, 11818 I Street, Omaha, NE 68137. Vatterott College-Spring Valley Campus is a small college located in Omaha, Nebraska. It is a private for-profit school with primarily 2-year programs and has 329 students. Vatterott College-Spring Valley Campus has a one to two year and an associate's degree program in Accounting Technology/Technician and Bookkeeping which graduated five and eight students respectively in 2008.
Metropolitan Community College Area - Omaha, NE
Metropolitan Community College Area, 30 & Fort Street, Omaha, NE 68111-1610. Metropolitan Community College Area is a large college located in Omaha, Nebraska. It is a public school with primarily 2-year programs and has 15,055 students. Metropolitan Community College Area has a one to two year and an associate's degree program in Accounting Technology/Technician and Bookkeeping which graduated six and zero students respectively in 2008.
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: Omaha, Nebraska
Omaha is located in Douglas County, Nebraska. It has a population of over 438,646, which has grown by 12.5% in the past ten years. The cost of living index in Omaha, 81, is well below the national average. New single-family homes in Omaha are valued at $105,100 on average, which is far less than the state average. In 2008, 1,576 new homes were built in Omaha, down from 1,905 the previous year.
The three big industries for women in Omaha are health care, educational services, and finance and insurance. For men, it is construction, accommodation and food services, and professional, scientific, and technical services. The average commute to work is about 18 minutes. More than 28.7% of Omaha residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 9.0%, is higher than the state average.
The unemployment rate in Omaha is 4.7%, which is greater than Nebraska's average of 4.5%.
The percentage of Omaha residents that are affiliated with a religious congregation, 54.5%, is more than the national average but less than the state average. Calvary Baptist Church, Calvary Chapel of Omaha and Calvary Foursquare Gospel Church are all churches located in Omaha. The most common religious groups are the Catholic Church, the Evangelical Lutheran Church in America and the Lutheran Church.
Omaha is home to the Gibson and the Cedar Hills Golf Course as well as Al Caniglia Field and Adams Park. Shopping malls in the area include Frederick Square Shopping Center, North Park Shopping Center and Oak View Mall. Visitors to Omaha can choose from Countryside Suites, Hampton Inn Omaha-Central and Townhouse Inn for temporary stays in the area.