Description

Tax managers oversee the tax reporting process and ensure compliance with state, local, as well as federal laws in an company. In the minimum, a tax manager should be able to write and file taxes for the business in a thorough and precise way to reduce the chance of being audited. They must also identify the most deductions feasible to make sure that the company does not overpay for taxes. Other duties of the tax manager are related to Internal public offering (IPOs) as well as mergers and other acquisitions. Tax managers must ensure that these transactions are documented correctly from a tax standpoint. This could include analyzing and reviewing the latest tax laws as well as technical tax memorandums to ensure their the accuracy and completeness.

The majority of companies require tax professionals to possess an CPA or certified public accountant, or certification. In addition, proficiency in QuickBooks as well as Microsoft Office and Microsoft Office suite is required and employers may also require candidates to be proficient with other accounting software, too. Tax professionals must have a keen focus on detail and also have excellent interpersonal abilities.

Roles & Responsibilities

As a Tax Manager with 0-3 years of experience in India, here are some main responsibilities:

  • Preparing and reviewing tax returns for individuals, businesses, and organizations, ensuring accuracy and compliance with tax laws.
  • Advising clients on tax planning strategies to minimize tax liability and optimize financial decisions.
  • Conducting research on tax legislation and regulations to stay updated and provide accurate and timely tax advice.
  • Assisting in tax audits and resolving any tax-related issues or disputes with tax authorities.

Qualifications & Work Experience

Major educational qualifications required for Tax Manager are:

  • Extensive individual/corporate/partnership tax knowledge
  • Solid accounting, analytical and research abilities
  • Excellent oral and written communication abilities
  • A thorough understanding of the tax code compliance, procedures and compliance for corporate entities
  • Experience with U.S. federal, state and local reporting requirements
  • Experience with a range of tax-related operations and the capability to implement process improvements
  • Ability to use the best practices in accounting and project management methods to prioritize tasks and the work of other Tax team members
  • Ability to work effectively in a team and also the ability to collaborate with other stakeholders and explain the advantages of tax-related initiatives
  • Excellent interpersonal and organizational abilities
  • We are seeking candidates with at least 5 years of experience working in the tax manager or public accountant position and at least two years of experience in a managerial position
  • Candidates with a valid CPA license as well as the master's degree in accounting or a related discipline
  • The Tax Manager should be proficient in the following tools and software with a solid background and expertise working with Word, Outlook, Excel, QuickBooks
  • Experience using UltraTax, SAP, RIA Checkpoint, and BNA
  • Expertise and experience in Word, Outlook, Excel, QuickBooks
  • Experience using UltraTax, SAP, RIA Checkpoint, and BNA

Essential Skills For Tax Manager

1

Tax Accounting

2

Microsoft Excel

3

Tax Calculation

Skills That Affect Tax Manager Salaries

Different skills can affect your salary. Below are the most popular skills and their effect on salary.

Tax Accounting

12%

Microsoft Excel

24%

Career Prospects

The Tax Manager role is crucial for efficient tax compliance and financial planning. For professionals with 0-3 years of experience in India's finance industry, here are four alternative roles worth considering:

  • Tax Analyst: A position that involves conducting tax research, preparing tax returns, and providing support in tax planning and compliance.
  • Audit Associate: A role focused on reviewing financial records, ensuring regulatory compliance, and conducting internal audits.
  • Financial Consultant: A position that involves providing expert advice on tax planning, investment strategies, and financial management.
  • Compliance Officer: A role responsible for ensuring adherence to tax regulations and implementing internal control measures to mitigate risk.

How to Learn

The job role of Tax Manager in India is projected to experience significant growth in the market. Over a 10-year analysis, there has been a steady increase in demand for professionals in this position. The expanding economy and regulatory changes are contributing factors that drive this growth. With the increasing complexity of tax laws and regulations, the need for skilled tax managers is expected to rise further in the future. This growth trend implies a potential increase in employment opportunities for individuals seeking a career as a Tax Manager in India.