Most people begin thinking about tax obligations when filing deadlines approach. For tax manager jobs, however, this is usually a yearlong process. Tax managers are typically responsible for analyzing tax regulations, offering advice, and preparing tax returns for individual or corporate clients. To perform these tasks successfully, those with tax manager jobs usually require knowledge of local tax regulations and changes that may affect clients. The variation of tax manager jobs is usually based on a specialized area of tax regulation.
Essentially, tax manager jobs involve tasks related to the tax obligations of individual and corporate clients. To stay abreast of changes in tax code that have to do with clients, tax managers may examine the regulations within their jurisdictions. Most tax managers typically analyze local and regional tax regulations to understand their implications for clients. For the most part, tax managers may reconcile financial records with tax regulations to ensure clients are on target.
The tax manager uses his or her knowledge of tax code to develop strategies that minimize clients’ tax burden. Generally, advising clients on tax saving strategies is also a common task for this position. Typically, the advice offered is not solely dependent on expert knowledge, but also from a personable perspective. Fostering a relationship of trust brings reassurance that the advice offered is in the clients’ best interest.
Often, tax managers will prepare clients’ tax returns based on the professional knowledge of clients’ circumstances. Preparing tax returns is usually a primary duty for tax managers. The tax manager typically prepares and files individual tax returns. For the corporate client, tax managers may also prepare and file sales tax returns according to filing schedules determined by the governing tax authority.
Real estate tax managers may advise clients on tax solutions related to property ownership. For real estate tax managers, duties typically focus on reviewing clients’ portfolio of real estate assets. This requires technical knowledge of compliance strategies based on the tax regulations and the possible impact on real estate holdings.
International tax managers typically have multinational corporations for clients. The international tax manager may provide guidance on the international implications of the tax burden within the respective countries of operation. Additional duties may include ensuring compliance with local tax regulations. The international tax manager may need to research the local tax laws to determine the corporation’s capacity for doing business in the country while meeting its tax liability.
Individual or corporate tax managers may work with an accounting firm, handling all aspects of tax preparation and filing for clients. This may include reviewing tax returns and ensuring timely filings. Other duties may entail preparing for audits with the regional government agency responsible for collecting taxes.