how much tax attorney makes annually? reddit

How much do tax attorneys make?

HOW MUCH DO TAX ATTORNEYS MAKE? The average salary of a tax attorney is $120,910 per year, according to the BLS. Salaries in the law field range from $58,220 to $208,000. Several factors may impact earning potential, including a candidate’s work experience, degree, location, and certification.

What does an IRS tax attorney do?

Tax attorneys specialize in tax policies and tax liability at the federal, state, and municipal levels. They typically work at law firms or on a consultative basis. Their tax law expertise makes them essential to auditing or litigation processes with the IRS. These professionals may also draft documents for estate planning or other legal documents.

How much does a BigLaw lawyer make?

So back to the stats - according to US News, the median salary for a lawyer (of all types and levels of experience) is $118,160, with a 25th percentile of $77,580 and a 75th percentile of $176,580. However, biglaw starting salary for someone fresh out of law school was $180k the last time I heard.

How much do tax partners get paid?

A salary comp survey went out a few years ago and tax partners made roughly 900k/yr at large firms. For equity partners, this number is over 1M and for nonequity you're sitting probably at the 600 or 700 level.

Do you have to work for a big firm?

To do that, you almost always have to work for an extremely large firm. Very few small shops have the quantity of work with a those sort of tax implications to have any real full time tax experts. Big law comes with its downsides. You work a lot of hours and you're essentially always on call.

Can you skip a year as an associate?

You would NOT be able to skip a single year of being an associate. You'd be a 1st year associate like everyone else. While you have a good bit of tax accounting experience, like all of your peers, you'll have 0 years of tax LAW experience.

Can a law firm hire without experience?

Law firms tax departments typically will not hire without experience, and they will not allow associates to lateral out of accounting firms. That is why a huge portion of newly-minted LLM students end up in accounting firms for their entire careers.

Is it difficult to break into tax law?

Caveat: tax law is VERY DIFFICULT TO BREAK INTO IN A LAW FIRM SETTING. If you go back to law school and obtain an LLM, there is a greater than 50% chance you will end back exactly where you are now for the rest of your career (i.e., an accounting firm).

Is international tax law a good career?

Tax law is a great career choice. International tax law is an ever better career choice. I don't see a robot being able to do what I do for at least 100 years from now, if ever. Source: I am a 7th year international tax attorney. Caveat: tax law is VERY DIFFICULT TO BREAK INTO IN A LAW FIRM SETTING.

I'm Done

I'm officially calling it quits on this career track. I've been screamed at, cussed out, and bullied. I've worked 80 hour weeks for people who can't be bothered to say "thank you." It's hurt my mental health, and my marriage, and the compensation is just not in line with the suffering.

FASB soon be like

Primarily for accountants and aspiring accountants to learn about and discuss their career choice. Advice and questions welcome.

How much does a tax attorney make?

The average salary of a tax attorney is $120,910 per year, according to the BLS. Salaries in the law field range from $58,220 to $208,000. Several factors may impact earning potential, including a candidate’s work experience, degree, location, and certification.

What is tax attorney?

Tax attorneys specialize in tax policies and tax liability at the federal, state, and municipal levels. They typically work at law firms or on a consultative basis. Their tax law expertise makes them essential to auditing or litigation processes with the IRS. These professionals may also draft documents for estate planning or other legal documents.

What industries do tax attorneys work in?

The BLS reports the top industries for tax attorneys as subscription programming, the oil and coal industries, motor vehicle manufacturing, and computer equipment manufacturing. These complex industries must cooperate with government rules, regulations, and tax laws, which require a tax attorney’s expertise.

How much do accountants make?

The BLS reports that accountants earn an average annual salary of $70,500, with jobs projected to increase by 10%. This rate is faster than average. Tax attorneys may earn $120,910 per year, but job growth is about average at 8%.

How long does it take to become a tax attorney?

Becoming a tax attorney involves earning a bachelor’s degree, completing law school, and passing the bar exam. The process usually takes about seven years.

What states have tax attorneys?

When it comes to salary, some of the top states for tax attorneys include the District of Columbia, California, New York, Massachusetts, and Connecticut, according to the BLS. These states offer higher than average salaries, making them attractive locations for tax attorneys.

Which states have the highest growth in tax attorneys?

According to data from Projections Central, the top states for job growth include Utah, Nevada, Colorado, Arkansas, and Texas.