Best Of Tax Attorney Vs Cpa Salary 2023

Tax Attorney Salary in United States 【All States 2022】 CareerExplorer from careerexplorerguide.com

Tax Attorney vs CPA Salary: Which One Pays More?

Introduction

When it comes to dealing with taxes, many people rely on the expertise of either a tax attorney or a certified public accountant (CPA) to help them navigate the complicated tax laws. Both professions require extensive education and training, but which one pays more? In this article, we'll compare the salary of tax attorneys and CPAs and see which profession comes out on top.

Tax Attorney Salary

Tax attorneys are lawyers who specialize in tax law. They are responsible for helping individuals and businesses with tax-related issues such as audits, tax disputes, and tax planning. According to the Bureau of Labor Statistics, the median annual salary for lawyers, including tax attorneys, was $126,930 in 2022. However, tax attorneys who work for large law firms or corporations can earn significantly more, with some earning six-figure salaries or more.

CPA Salary

CPAs, on the other hand, are accountants who have passed the Uniform Certified Public Accountant Examination and met other state requirements to become certified. They are responsible for managing financial records, preparing tax returns, and providing financial advice to clients. According to the Bureau of Labor Statistics, the median annual salary for accountants and auditors, including CPAs, was $73,560 in 2022. However, CPAs who work for large accounting firms or corporations can earn significantly more, with some earning salaries in the six figures.

Factors Affecting Salary

Several factors can affect the salary of tax attorneys and CPAs, including experience, education, location, and industry. Tax attorneys who work for large law firms or corporations in major cities like New York or Los Angeles typically earn more than those who work for smaller firms or in less populated areas. Similarly, CPAs who work for large accounting firms or corporations in major cities typically earn more than those who work for smaller firms or in less populated areas.

Job Outlook

Both tax attorneys and CPAs are in high demand, and the job outlook for both professions is strong. The Bureau of Labor Statistics predicts that employment of lawyers will grow 3 percent from 2022 to 2032, while employment of accountants and auditors will grow 10 percent during the same period.

Conclusion

In conclusion, both tax attorneys and CPAs can earn high salaries, but the salary of tax attorneys tends to be higher, especially for those who work for large law firms or corporations. However, the salary of CPAs can also be quite lucrative, especially for those who work for large accounting firms or corporations. Ultimately, the choice between becoming a tax attorney or a CPA should be based on an individual's interests, skills, and career goals.

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