Debunking the Myths of Tax
Apr 12, 2019
Category: University of Baltimore
As a person studying and working in the accounting field, it is very common to hear about the debate between audit and tax and which one is better. It is the silent disapproval you get from your friends who work in the opposite field and the friendly debate with your audit and tax professors-all in all it is something that more than likely will come up.
I found myself in the middle of all of this, on one side I had friends and professors telling me to apply for positions in audit and some pressuring me to go to the tax side. So I decided on applying to both fields and leaving it open to the employer. When I got an offer from Cohen & Company, my very lovely HR manager said that the team thought I would do better in Tax so I accepted my offer.
The past 4 months have been filled with many learning experiences but also the debunking of a few myths I heard about the tax field over the years
Myth #1- You never talk to anyone:
- Totally a myth. While it is true that there is less team based work, my work constantly consists of talking to my managers and seniors on the clients. The tax field requires more individual work, but there are always people to bounce your ideas off of.
- Outside of sitting at your desk, the bi-weekly tax lunch meetings give you an opportunity to mingle with people you might not normally work with on a daily basis.
Myth #2-Tax is boring, you do the same work everyday
- While the field does require a lot of independent work, the variety of industries and types of clients I worked on is large. I switched between clients such as hedge funds, c-corps, partnerships, and individuals.
- I want to emphasize that industries make a big difference. You can be working on the same type of client but if the industry is different, the way the return is worked on and filed can make it so interesting.
All in all, accounting is a very diverse field and I truly believe there is a place for every type of person. Although some people gravitate more towards one field than the other, in the end we all work together to put together the best deliverables for our clients.