In this salary guide, you will find out how much do Tax Preparers make.
After reading this, you will be able to make a decision if working as a Tax Preparer will suit your financial goals (e.g: buying a home, BMW or just your target salary goal).
$45340 per year
$21.800 per hour
One of the most popular questions we get from our readers here at OwlGuru is how much do Tax Preparers make per year and what is their hourly wage.
According to BLS, the average annual salary of Tax Preparers is $45340. Their salary can also be as low as $19600 if you’re still a newbie with no experience to over $80250 if you have a ton of experience under your belt.
The typical hourly pay is $21.800 and can range from $9.420 to $38.580 which also depends if you’re a newbie or a professional.
Just like any other job, the salary of A Tax Preparer will vary based on your education and experience level.
# = Over $100 per hour or $200,000 per year.
We wanted to make it easy for our readers to compare the salary of A Tax Preparer to all the other careers out there. So we created Salary Rank.
This compares the salary of all careers and we give them a rank of A, B, C or D depending on how high or low is their average salary.
After comparing how much do Tax Preparers make with other careers, they have a salary rank of C.
|Highest (Top 10%)||$38.580||$80250|
|Senior (Top 25%)||$27.830||$57880|
|Middle (Mid 50%)||$17.570||$36550|
|Junior (Bottom 25%)||$11.800||$24550|
|No experience (Bottom 10%)||$9.420||$19600|
Entry-level Tax Preparers who starts out at $24550 can expect to make $36550 after 3-5 years of experience in the field.
The bottom 10% makes less than $9.420 per hour while the top 10% makes over $38.580 per hour.
While the median wage is $36550 per annum or $17.570 per hour.
Depending on who you work for, you might also get overtime pay.
# = Over $100 per hour or $200,000 per year.
Highest paying industries
|Industry name||Hourly wage||Annual salary|
|Management of Companies and Enterprises||31.32||65140|
|Credit Intermediation and Related Activities||26.69||55510|
|Management, Scientific, and Technical Consulting Services||25.99||54050|
|Sector 56- Administrative and Support and Waste Management and Remediation Services||22.99||47820|
|Administrative and Support Services||22.99||47820|
|All industries, private ownership only||21.09||43870|
|Professional, Scientific, and Technical Services||21.06||43800|
|Accounting, Tax Preparation, Bookkeeping, and Payroll Services||20.95||43580|
|Publishing Industries (except Internet)||18.69||38880|
|Federal, State, and Local Government||18.34||38160|
|Federal, State, and Local Government, excluding state and local schools and hospitals, and the US Postal Service||18.34||38160|
Not all industries pay the same for Tax Preparers.
One of the easiest way to increase your salary is to change industries and find a higher paying one.
Highest paying states
Another simple way to boost your pay as A Tax Preparer is to move to a higher paying state. However moving to a higher paying state like NY doesn’t mean you will make more overall. This is because the expenses at NY may be 2x higher than where you are currently living at right now.
According to the BLS, the highest paid / most successful Tax Preparers are in the states of NY, MA, CO, HI and CA. The average salary in NY is $58600.
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They perform duties related to the purchase, sale or holding of securities. Duties include writing orders for stock purchases or sales, computing transfer taxes, verifying stock transactions, accepting and delivering securities, tracking stock price fluctuations, computing equity, distributing dividends, and keeping records of daily transactions and holdings.
They compute, classify, and record numerical data to keep financial records complete. Perform any combination of routine calculating, posting, and verifying duties to obtain primary financial data for use in maintaining accounting records. May also check the accuracy of figures, calculations, and postings pertaining to business transactions recorded by other workers.
They evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.
They determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.
They interview loan applicants to elicit information; investigate applicants’ backgrounds and verify references; prepare loan request papers; and forward findings, reports, and documents to appraisal department. Review loan papers to ensure completeness, and complete transactions between loan establishment, borrowers, and sellers upon approval of loan.
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