Tax managers are in charge of devising, implementing, and overseeing a company’s or client’s tax plan, as well as performing office management duties. They prepare the necessary government documents related to taxes, ensure their accuracy, and provide solutions to pressing tax issues. Managers must be familiar with international, domestic, state, and local tax laws, depending on the client, the level of education, and experience required. A tax manager is typically regarded as a knowledgeable, trusted adviser to senior management who is capable of collaborating with a diverse group of individuals to achieve the company’s objectives.
A tax manager’s primary responsibility is to accurately and efficiently manage tax reporting and planning for the company or client, as well as to ensure that tax laws are followed. Depending on the client’s needs, the position requires knowledge of tax laws and regulations at the international, federal, state, and local levels. The manager supervises the completion of accurate tax returns, which helps the client reduce their tax obligations, and provides the client with solutions based on their needs. Managers provide solutions and collaborate with employees to improve employee performance while also collaborating with senior management to meet the company’s tax objectives.
To plan and achieve the company’s tax goals, tax managers must have at least five to ten years of experience and sound judgment. Advanced analytical skills, strategic thinking skills, the ability to analyze complex data, and the ability to multitask are usually required for this position. A tax manager or supervisor should have excellent written, verbal, and editorial skills, as well as the ability to give client presentations. To manage the tax accounting staff, report to upper management, and work with project stakeholders during multiple phases of project planning, good communication skills and excellent interpersonal skills are required.
A bachelor’s or master’s degree in taxation or accounting from an accredited university, as well as significant experience, are usually required for a position as a tax manager. A taxation degree is beneficial because it covers all aspects of taxation and tax law, such as managerial accounting, corporate income tax, and tax procedures and practices. Auditing, accounting information systems, tax planning, and accounting theory are all involved. Most managers begin their careers as a Certified Public Accountant or in a related field and work their way up to a management position as their experience grows.