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Career and Education Opportunities for Income Tax Advisors in Midland, Texas

There is a wide variety of career and education opportunities for income tax advisors in the Midland, Texas area. About 10,100 people are currently employed as income tax advisors in Texas. By 2016, this is expected to shrink by 2% to about 9,860 people employed. This is not quite as good as the nation as a whole, where employment opportunities for income tax advisors are expected to grow by about 2.9%. 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.

The income of an income tax advisor is about $13 hourly or $27,340 yearly on average in Texas. In the U.S. as a whole, their income is about $14 per hour 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 Texas, and not quite as good as the overall Accounting and Auditing category nationally. Income tax advisors work in a variety of jobs, including: tax evaluator, tax associate, and tax manager.

There is one school within twenty-five miles of Midland where you can study to be an income tax advisor, among five schools of higher education total in the Midland area. 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 Midland 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 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

Midland College - Midland, TX

Midland College, 3600 N Garfield, Midland, TX 79705. Midland College is a medium sized college located in Midland, Texas. It is a public school with primarily 4-year or above programs and has 4,372 students. Midland College has an associate's degree 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: Midland, Texas

Midland, Texas
Midland, Texas photo by Billy_Hathorn

Midland is situated in Midland County, Texas. It has a population of over 106,561, which has grown by 12.2% over the last ten years. The cost of living index in Midland, 80, is well below the national average. New single-family homes in Midland cost $117,500 on average, which is far less than the state average. In 2008, four hundred eighty-three new homes were built in Midland, down from five hundred fourteen the previous year.

The three big industries for women in Midland are health care, educational services, and mining, quarrying, and oil and gas extraction. For men, it is mining, quarrying, and oil and gas extraction, construction, and health care. The average commute to work is about 17 minutes. More than 27.2% of Midland residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 7.0%, is lower than the state average.

The unemployment rate in Midland is 5.7%, which is less than Texas's average of 8.1%.

The percentage of Midland residents that are affiliated with a religious congregation, 61.5%, is more than both the national and state average. Alamo Heights Church, Ellis Chapel North Church and Primera Iglesia Bautista Church are among the churches located in Midland. The most common religious groups are the Southern Baptist Convention, the Catholic Church and the United Methodist Church.

Midland is home to the Windmill Number Three and the Ranchland Hills Country Club as well as Tolbert Park and Doug Russell Park. Visitors to Midland can choose from Best Inn & Suites - Harrys Bar & Grill, Bradford Inn and Budget Inn for temporary stays in the area.