[Zackpasses]

Hi Everyone!

So I never had much interest in tax accounting while in college, but after studying for the CPA and really investing in the topic I have found that I enjoy it. How easy is it to make a transition into a tax role?

A little about my work experience … I graduated in 2012 and got hired on as a financial analyst with a large defense contractor. I primarily worked on the revenue side of things and prepared the free cash flow statements along with ad hoc forecasting and analysis. I did that for about two years and realized it was the kind of job that I could remain in for 10 years and never learn much beyond what I had learned or grow a whole lot. The pay was pretty solid, the benefits, and work/life balance was great (every other Friday off, and work from home Wednesdays!) but I kept worrying that I might be unhappy further down the road and the skill set I would leave with might not equip me to handle a more experienced role. So I left and have been working with a F500 company as a financial analyst at one of their manufacturing plants. This job is significantly more demanding. In a little over a year I have learned twice as much. I am basically involved in every facet of the business from doing minor journal entries and reclasses, to aiding in capital decision making, forecasting manufacturing variances, absorption, and building the budget. I have made a two year commitment with this company since they moved me and I intend to honor that. I enjoy what I am doing now, the pay is better than I was making, but the job itself is significantly more demanding. I would guess that its probably somewhere along the lines of working public with 60 hr+ work weeks. I don’t mind that now, but in 4-5 years depending what life throws at me I may not want that.

So my work experience thus far is kind of all over the place. I don’t know if that is good or bad. On the one hand I have a diversified skill set but on the other it looks like I am not able to commit anywhere. I guess that is true. I really am just trying to sample a bunch of different areas of accounting and see what I like the best and then find a good fit for myself in an area that I like. So back to my original question? Is there an easy way to get into tax? Would any accounting firm hire me? Assuming I don’t get 74s on BEC (knock on wood) from here until November I will have four years of work experience and my CPA when my relocation is up. Not sure if that would get me in for an interview anywhere or serve as deterrent? I guess my ultimate goal is to try out tax – see if the work as enjoyable and stick with it for a couple years and then see what happens after that.

Thanks for the advice!

FAR - 8/16/15 - 82
AUD -10/26/15 - 87
REG -01/28/16 - 80
BEC -02/27/16 - 74 (very sad), 4/16/16 - 77

[monikernc]

Can you work in tax at your cuurent company? The nice thing about big co's can be the different opportunities while staying with one employer.

FAR 7/25/15 76!
AUD 10/30/15 93
BEC 2/27/16 82
REG 5/23/16 88!
Ninja Book and MCQ and the forum - all the way!!!
and a little thing i like to call, time and effort!
if you want things to change, you have to do something different

[Zackpasses]

@monikernc I have not inquired, but all the people I know who have worked in the tax department seem to have prior big 4 or larger firm experience. They seem to accept interns and allow for transfers in most other departments though. One other consideration is that the tax department is based out of the corporate office which is in a location that I probably would not enjoy living at … but if an opportunity came up I would at least strongly consider.

I guess its not such a bad idea to at least get some feelers out to see if they only hire people with prior tax experience. That would give me an idea if I HAD to consider a new company if I want to pursue tax.

FAR - 8/16/15 - 82
AUD -10/26/15 - 87
REG -01/28/16 - 80
BEC -02/27/16 - 74 (very sad), 4/16/16 - 77

[Jdn9201]

I don't think anything that you said is a detriment. It can take people some time to find their niche. I don't think you would have much of a problem getting a Tax Accountant I position at a F500 either. You probably wouldn't be able to get a Sr. level position because of your lack of tax work experience though. I started out my career working in tax for a F500 company and left to be a GL accountant at another company after 2 years because I got bored. I went back to my old job after 5 months because I realized that tax was where I wanted to be after all (and fixed asset accounting is sooooo mind-numbingly boring…). If you would be open to an opportunity to transfer, I'd first explore moving to the tax dept. at your current company, then explore elsewhere. In the meantime, be sure you tailor your resume and think about the ways your work experience on the accounting side translates to tax. Good luck!

BEC - 88 8/29/15
REG - 82 11/14/15
AUD - 83 1/8/16
FAR - 80 2/29/16

[Zackpasses]

@jdn9201 I don't mind starting at a lower level position. In fact, I prefer that. I'd like to be in a role that I can learn to walk before I have to run. Not that I want a prolonged training period, but it would be nice to get a feel for the work and really understand what I am doing without immediately trying to tackle complex tax issues that I would not be prepared for. Thanks for the insight and congratulations on finishing the exams!

FAR - 8/16/15 - 82
AUD -10/26/15 - 87
REG -01/28/16 - 80
BEC -02/27/16 - 74 (very sad), 4/16/16 - 77

[Anonymous]

You wont have any problem getting a job in tax..but you will have to wait until fall to start looking..

what job market are you in?

Public would be the best way to go as an entry level you will learn from the ground up..get complex problems given to you in order for you to try and solve then passed on to srs and managers who will correct your mistake and give them back to you to learn from.

Im in a similar situation but coming from sales.

[Anonymous]

Worst case scenario a year at HnR block will make you more marketable..but I would only use a retail tax place as a last resort.

[jm962011]

try to get into tax at your current company… your strengths will be the analysis background you have with forecasting and the fact that you understand the business. I'm not sure how strong you are with GAAP but the journal entry experience will help you as well. Tax people in industry have to know the GAAP and the TAX side of things.. mostly because you have to know what was done for book to know how to adjust it for tax. Also, a lot of tax relies on understanding the business and the flow of the goods, people, decisions, etc. You're also used to the hours.

Other than having to start from the ground up if you move over into tax, you'll be an outsider now. Tax is the LAST person to know about everything going on in the a company unless it is a profitable company with international locations, there is some planning that goes on if it is profitable and international, especially now with BEPS, but they are usually the last to know about things.

Honestly though, if you're a position with aiding in capital decisions, can you try a controller role? If you go to tax, you'll be an individual contributor and we all know the money is people management, not necessarily can you punch out a pretty excel file. But, I also know what its like to be bored and not challenged, so maybe you want the challenge of excel rather than the challenge of managing people.

[Author]

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