Tax Lawyer Salary
A tax lawyer in the United States generally handles any infringements or issues between their clients and the IRS. Tax attorneys are often hired when someone is charged a penalty or charged with a tax crime.
Tax lawyers can deal with problems relating to a person’s taxes whether big or small, dealing with everything from the smallest offense to serious criminal charges. Obviously extensive knowledge of the tax system is needed to be a successful tax lawyer. On top of that proficiency in accounting is also an area of expertise for most tax lawyers.
Tax Lawyer Salary
Of course $125,864 is only the average salary for a tax attorney. Many factors will affect what your salary ultimately will be. For example, salary scales up depending on experience and type of private clients.
Geography will also effect pay, with tax lawyers in larger cities generally getting paid more.
Education Needed – Tax Lawyer
Becoming a tax attorney/lawyer can certainly be lucrative but you will need to put in the schooling to get there:
- Undergraduate Degree (Business related. Many tax lawyers get an accounting degree)
- Pass the Law School Admissions Test (LSAT) (Score high to get accepted to the best possible law school)
- Graduate Studies At Your Preferred Law School
- Pass The Bar Exam
Advancement
Tax lawyers will generally start out in salaried positions however once they move up the ranks they will sometimes get the opportunity to become a partner in their chosen firm if they belong to one. Once this happens earnings will increase significantly as they will receive portion of the revenue the entire firm. In order to become partner of your firm you will almost certainly have to devote a number of years before you’ll be considered.
Tax Lawyer Job Growth Outlook
Becoming a tax attorney can be a long road but the rewards are great. In terms of a tax lawyer salary, they are generally quite high.
Between 2011 and 2018 tax lawyer job growth is expected to be strong.
Employment growth is expected to occur at 13%, which is quite good. (Source: U.S. Bureau of Labor Statistics)
Keep in mind that the tax laws are constantly changing at a dizzying rate and therefore create lots of work for tax attorneys. This means lots of work but also lots of studying in order to stay up to date with all the ins and outs of the tax system.
If you are interested in pursuing a career as a tax lawyer you’ll almost always have good job opportunities moving forward. Not only for private citizens but also for larger corporations and companies that are always looking to be on the right side of the law when it comes to taxes. Not to mention the desire to save as many dollars they can by hiring the right tax lawyer.
There are quite a few great online resources for those looking to go into this career so be sure you look into the possibilities for education of either online or off-line in your specific state.
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