Tax accounting can be a challenge to learn, involving laws, numbers and forms. Rules are different for individuals and corporations, and they change often. Tax accounting is based on government decisions, including state and local entities. It is a specialized branch of accounting that entails helping individuals and firms through the maze of taxation. Providing businesses with strategies to save taxes and to be compliant with the tax law can be valuable to any business.
Get the tax forms on the topics you're learning. Seeing what you're learning will help you grasp the concepts. Most forms are available for download or shipping by the IRS and other taxing agencies. Get the instructions for the forms, which may be easier to understand than an academic tax textbook.
Practice what you're being taught. Do all the homework and participate in online tax forums with your questions and answers. Many professionals visit these groups and can give you good answers to issues you're not clear about. Thinking through tax problems with others is a great way to practice and learn.
Research the issues you don't understand. Tax work involves a great deal of researching, and it's best to start now. If you are doing online research, make sure the source you are using is reliable and is about U.S. taxation. It is easy to get confused and go to websites about other countries' taxation.
Apprise yourself of the latest tax changes. Many tax accountants take at least one continuing-education class a year to keep up.
- Apprise yourself of the latest tax changes. Many tax accountants take at least one continuing-education class a year to keep up.
Sheila Shanker is a certified public accountant based in California. She writes online courses for professionals seeking CPE hours and has also published the book "Guide to Non-profits: From the Trenches." Her articles have been published in national magazines such as the "Journal of Accountancy," "Architecture Business and Economics" and "Veterinary Economics." Shanker holds a Master of Business Administration.