Is Taxation Law a Good Career?

 

In today's society, career trends are changing and people want to find work that is worth it for their mental, physical, and financial well-being. One profession where this is happening in a big way is tax law. Tax lawyers seem to be the happiest of all, which may have something to do with therapy rates being surprisingly high in the area. This can be seen through a variety of factors.

Here, you'll be able to see the types of work a tax lawyer is responsible for and some of the most common fields one studies in law school. If you're interested in working towards becoming a tax lawyer, take a look at this!

Taxes always seem to find a way to exist
Your expertise in tax law is always relevant because the demand for it is constantly growing. You will be able to feel confident all year long going into future tax season knowing that you have put in the time and effort to make an impact (You may even be busier than your law school peers in litigation or other transactional work!) Despite being tough to predict, the field of tax law has tended to remain stable in the face of economic downturns. The high demand for tax reform is another matter and it will be interesting to see what happens when politics take over this time around.

 

Earn a good salary

Taxing professionals see a significant amount of income compensation - with the average lawyer receiving over $135,000 annually. This is for good reason because many tax attorneys find themselves working 60 hours per week. Depending on where you choose to work, your salary will vary and can be significantly higher or lower than this amount. Where you practice can make a big difference in what you earn. For example, The entry-level salary for a tax attorney in Boston is $99,561-$110,462. This equates to approximately $1,000-$1,100 per day.

Many job offerings
There are many job offerings out there and those in low-paying fields can turn to tax lawyers for extra income. Everyone is subject to tax law and there's a demand for tax specialists. Tax lawyers only practice law and can also work as in-house counsel for businesses. This creates tons of opportunities for them.

 

Work-life balance

You will get a better work-life balance and be paid more by your employers. Working as a lawyer can be hectic, often requiring a lot of work during tax season. That's why April 15 is known as Tax Day, or The most upsetting day of the year for lawyers.

 

Make a Difference
You can make a real difference by understanding the advantages of tax law and what it can do for your business, career, or even personal life. If you want to affect tax law changes at the federal level, you can work with the IRS or Treasury Department, who might be able to help.

 

A Lot of Varieties
There are different skills required across various sectors with the difference in taxation being at the forefront. For example, small businesses will have relatively simpler tax procedures and won't have to account for VAT, while multinational corporations might need someone who's proficient in VAT-Intelligence systems. This can vary depending on the client, which is why it's important to find a good accountant before starting a project with them.

For example, you might work at a nonprofit to make sure they’re compliant with federal and state tax law and regulations so the can keep their tax-exempt status.

You could work as a tax expert, as they are called. There are many different types of these lawyers, depending on the person and their field. One type might be a litigation specialist at the IRS or state Department of Revenue who defends their clients’ tax position before an administrative body and in court. Another type may be a government attorney who represents the IRS or state Department of Revenue before another agency, like Congress or the federal appeals courts.

Conclusion
Anyone with even a minimal interest in tax law is bound to love meditating on the "fine print" of accounting regulations, legal briefs, and business transactions.

Writers are being used increasingly in the workplace and often require special training to provide high-quality content. If you have a background in finance or accountancy, as well as considering law school, tax law definitely provides a solution since you'll be drawing from both your financial and legal interests.

Looking for the perfect place to study tax law? There are a lot of ways but look for law schools with extracurriculars on taxation, faculty with related experience, and a tax clinic. One way to find mentors in tax law would be by finding a university's law assignment helper that pairs students with lawyers who have similar experiences.