Author Topic: PSA for Tax Accountants in Public Accounting  (Read 2008 times)

COlady

  • Bristles
  • ***
  • Posts: 382
PSA for Tax Accountants in Public Accounting
« on: August 02, 2016, 09:44:57 AM »
I'm pretty sure I discovered a hidden gem that I feel obligated to tell you all about.  I worked in public accounting (tax) for 4 years before making the jump to industry 3 years ago. I switched to a contract part-time arrangement with the O&G company I was previously working at FT before my twins were born 1.5 years ago. They are paying me $75/hour contract (equivalent to about $140k a year full time). Pretty sweet money, right? The O&G company is closing their doors due to tough times and my contract is coming to an end.  I was sweating bullets and was pretty stressed about finding a new position. In 2 weeks time I was able to easily find 3 different public accounting firms that want to contract with me at a rate of between $70 and $75 per hour for 20 hours people week off season and  30 hours per week busy season. My husband asked me why I haven't been doing this all along????? Um, because I didn't know firms would go for it, that's a lot of money. Senior level tax people are in very high demand currently in the city I live in. If you have public accounting experience and a spouse with benefits you might be able to negotiate the same arrangement. Also, I was able to start an i401k and dump cash into up to the max for my income level ($32k last year).

dkaid

  • 5 O'Clock Shadow
  • *
  • Posts: 84
Re: PSA for Tax Accountants in Public Accounting
« Reply #1 on: August 02, 2016, 11:47:32 AM »
Thank you so much for posting this.  I have a sweet gig now in industry but have wondered about the options back in public.  I do not have a lot of tax experience though, mostly audit.  Do you think there is a similar market in the audit groups? 

mozar

  • Magnum Stache
  • ******
  • Posts: 3001
Re: PSA for Tax Accountants in Public Accounting
« Reply #2 on: August 02, 2016, 11:51:34 AM »
I used to work in audit in public accounting and I have been contacted about 1099 work.

COlady

  • Bristles
  • ***
  • Posts: 382
Re: PSA for Tax Accountants in Public Accounting
« Reply #3 on: August 02, 2016, 12:14:50 PM »
Thank you so much for posting this.  I have a sweet gig now in industry but have wondered about the options back in public.  I do not have a lot of tax experience though, mostly audit.  Do you think there is a similar market in the audit groups?

I'm not that familiar with audit seasons but I'm guessing the firms may need help at busy times similar to tax. I think you have to market yourself, don't go through a temp agency because they take such a large cut of the hourly rate. Send your resume out to partners at firms that may or may not be needing people. Of the 3 contract jobs I've been offered, only 1 was a posted job.

dkaid

  • 5 O'Clock Shadow
  • *
  • Posts: 84
Re: PSA for Tax Accountants in Public Accounting
« Reply #4 on: August 03, 2016, 08:27:52 AM »
Thanks for the tip!

Gatzbie

  • 5 O'Clock Shadow
  • *
  • Posts: 75
Re: PSA for Tax Accountants in Public Accounting
« Reply #5 on: August 03, 2016, 12:44:04 PM »
I'm pretty sure I discovered a hidden gem that I feel obligated to tell you all about.  I worked in public accounting (tax) for 4 years before making the jump to industry 3 years ago. I switched to a contract part-time arrangement with the O&G company I was previously working at FT before my twins were born 1.5 years ago. They are paying me $75/hour contract (equivalent to about $140k a year full time). Pretty sweet money, right? The O&G company is closing their doors due to tough times and my contract is coming to an end.  I was sweating bullets and was pretty stressed about finding a new position. In 2 weeks time I was able to easily find 3 different public accounting firms that want to contract with me at a rate of between $70 and $75 per hour for 20 hours people week off season and  30 hours per week busy season. My husband asked me why I haven't been doing this all along????? Um, because I didn't know firms would go for it, that's a lot of money. Senior level tax people are in very high demand currently in the city I live in. If you have public accounting experience and a spouse with benefits you might be able to negotiate the same arrangement. Also, I was able to start an i401k and dump cash into up to the max for my income level ($32k last year).


C0lady this sounds awesome.  I'm 21 and am trying to find a career that I enjoy doing and can make a living off of (i've been given a scholarship to major in accounting).  I love reading about finance stuff on these forums and think it would be fulfilling to help other people with their finances and their early retirement goals by saving them money on taxes.  Would being a tax accountant be a good career path for filling these desires? (it sounds like something I could be passionate about, taxes could be my niche out of all the things that go into helping people retire early).
« Last Edit: August 03, 2016, 12:46:56 PM by Gatzbie »

mozar

  • Magnum Stache
  • ******
  • Posts: 3001
Re: PSA for Tax Accountants in Public Accounting
« Reply #6 on: August 03, 2016, 06:26:27 PM »
Quote
Would being a tax accountant be a good career path for filling these desires? (it sounds like something I could be passionate about, taxes could be my niche out of all the things that go into helping people retire early).

For paid work, jobs tend to be for corporations or for very wealthy individuals. But there are many volunteer opportunities to do taxes for low income people for free. I used to do free tax returns and it was very fulfilling.

tomorrowsomewherenew

  • Stubble
  • **
  • Posts: 122
  • Location: Florida
Re: PSA for Tax Accountants in Public Accounting
« Reply #7 on: August 03, 2016, 08:10:18 PM »
What exactly is your work arrangement? I see you have toddler twins at home. Are you available to take calls during the day? When do you perform your work? Or are they in daycare/babysitter, etc?

I have a CPA license in another state, but I'm currently at home with my toddler. If I could make this kind of money working from home, well, then...I would.

jwright

  • Bristles
  • ***
  • Posts: 266
Re: PSA for Tax Accountants in Public Accounting
« Reply #8 on: August 04, 2016, 07:46:25 AM »
Are the hours gauranteed?  My old firm used to dump the parttimers after tax season and give that work to the salary associates to work 45-50 during off peak times.