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Career and Education Opportunities for Income Tax Advisors in Sioux Falls, South Dakota

Income tax advisors can find both educational opportunities and jobs in the Sioux Falls, South Dakota area. There are currently eighty jobs for income tax advisors in South Dakota and this is projected to grow 13% to about ninety jobs by 2016. This is better than 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.

The income of an income tax advisor is about $15 per hour or $32,610 per year on average in South Dakota. In the U.S. as a whole, their income is about $14 hourly or $29,420 yearly on average. Incomes for income tax advisors are not quite as good as in the overall category of Accounting and Auditing in South Dakota, and not quite as good as the overall Accounting and Auditing category nationally. Income tax advisors work in a variety of jobs, including: tax specialist, tax evaluator, and corporate tax preparer.

The Sioux Falls area is home to ten schools of higher education, including one within twenty-five miles of Sioux Falls 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

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 Sioux Falls 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.
  • 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.
  • 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

Southeast Technical Institute - Sioux Falls, SD

Southeast Technical Institute, 2320 N Career Ave, Sioux Falls, SD 57107-1301. Southeast Technical Institute is a small school located in Sioux Falls, South Dakota. It is a public school with primarily 2-year programs and has 2,138 students. Southeast Technical Institute has a one to two year program in Accounting Technology/Technician and Bookkeeping.

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: Sioux Falls, South Dakota

Sioux Falls, South Dakota
Sioux Falls, South Dakota photo by AlexiusHoratius

Sioux Falls is located in Minnehaha County, South Dakota. It has a population of over 154,997, which has grown by 25.0% over the last ten years. The cost of living index in Sioux Falls, 81, is well below the national average. New single-family homes in Sioux Falls cost $149,700 on average, which is above the state average. In 2008, five hundred eighty-six new homes were built in Sioux Falls, down from 1,000 the previous year.

The three big industries for women in Sioux Falls are health care, finance and insurance, and educational services. For men, it is construction, finance and insurance, and accommodation and food services. The average commute to work is about 16 minutes. More than 27.8% of Sioux Falls residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 7.6%, is lower than the state average.

The unemployment rate in Sioux Falls is 5.1%, which is greater than South Dakota's average of 4.5%.

The percentage of Sioux Falls residents that are affiliated with a religious congregation, 66.8%, is more than both the national and state average. Messiah Church, Sunnycrest Church and First Convenant Church are some of the churches located in Sioux Falls. The most prominent religious groups are the Catholic Church, the Evangelical Lutheran Church in America and the United Methodist Church.

Sioux Falls is home to the Elmwood Golf Course and the Cactus Hills Country Club as well as Pioneers of Minnehaha County Monument and Picasso Park. Visitors to Sioux Falls can choose from Kelly Inn, Fairfield Inn Sioux Falls and Albert House for temporary stays in the area.