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Career and Education Opportunities for Income Tax Advisors in Warwick, Rhode Island

Warwick, Rhode Island provides a wide variety of opportunities, both career and educational, for income tax advisors. 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.

Income for income tax advisors is about $9 per hour or $18,850 per year on average in Rhode Island. Nationally, their income is about $14 hourly or $29,420 annually. Compared with people working in the overall category of Accounting and Auditing, people working as income tax advisors in Rhode Island earn less. They earn less than people working in the overall category of Accounting and Auditing nationally. People working as income tax advisors can fill a number of jobs, such as: tax evaluator, certified income tax preparer , and tax accountant.

There are fifty-one schools of higher education in the Warwick area, including four within twenty-five miles of Warwick where you can get a degree to start your career as an income tax advisor. Income tax advisors usually hold a high school diploma or GED, so 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

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 Warwick 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

Three Rivers Community College - Norwich, CT

Three Rivers Community College, 574 New London Turnpike, Norwich, CT 06360. Three Rivers Community College is a small college located in Norwich, Connecticut. It is a public school with primarily 2-year programs and has 4,025 students. Three Rivers Community College has a less than one year and an associate's degree program in Accounting Technology/Technician and Bookkeeping which graduated zero and fourteen students respectively in 2008.

Quinebaug Valley Community College - Danielson, CT

Quinebaug Valley Community College, 742 Upper Maple St, Danielson, CT 06239-1436. Quinebaug Valley Community College is a small college located in Danielson, Connecticut. It is a public school with primarily 2-year programs and has 1,898 students. Quinebaug Valley Community College has a less than one year and an associate's degree program in Accounting Technology/Technician and Bookkeeping which graduated one and eight students respectively in 2008.

Bryant University - Smithfield, RI

Bryant University, 1150 Douglas Pike, Smithfield, RI 02917-1284. Bryant University is a small university located in Smithfield, Rhode Island. It is a private not-for-profit school with primarily 4-year or above programs. It has 3,807 students and an admission rate of 44%. Bryant University has 2 areas of study related to Income Tax Advisor. They are:

  • Accounting Technology/Technician and Bookkeeping, bachelor's degree.
  • Taxation, master's degree and post-master's certificate which graduated fourteen and zero students respectively in 2008.

Bristol Community College - Fall River, MA

Bristol Community College, 777 Elsbree St, Fall River, MA 02720-7395. Bristol Community College is a medium sized college located in Fall River, Massachusetts. It is a public school with primarily 2-year programs and has 8,100 students. Bristol Community College has a less than one year program in Accounting Technology/Technician and Bookkeeping which graduated one student 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: Warwick, Rhode Island

Warwick, Rhode Island
Warwick, Rhode Island photo by Marcbela

Warwick is located in Kent County, Rhode Island. It has a population of over 84,483, which has shrunk by 1.5% over the last ten years. The cost of living index in Warwick, 94, is below the national average. New single-family homes in Warwick are priced at $129,500 on average, which is far less than the state average. In 2008, thirty new homes were constructed in Warwick, down from forty-nine the previous year.

The three most popular industries for women in Warwick are health care, educational services, and finance and insurance. For men, it is construction, accommodation and food services, and public administration. The average travel time to work is about 22 minutes. More than 24.5% of Warwick residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 7.9%, is lower than the state average.

The unemployment rate in Warwick is 11.5%, which is less than Rhode Island's average of 12.2%.

The percentage of Warwick residents that are affiliated with a religious congregation, 67.1%, is more than both the national and state average. Warwick Bible Chapel, Warwick Central Baptist Church and Warwick Christian Fellowship Church are all churches located in Warwick. The largest religious groups are the Catholic Church, the Episcopal Church and the Evangelical Lutheran Church in America.

Warwick is home to the Kent County Chamber of Commerce and the Community College of Rhode Island Learning Resources Center as well as Apponaug Historic District and Salter Grove State Park. Shopping malls in the area include Buttonwoods Plaza Shopping Center, Buttonwoods Shopping Center and Clocktower Square Shopping Center. Visitors to Warwick can choose from Fairfield Inn Providence/Warwick, Extended Stay America and Courtyard by Marriott for temporary stays in the area.