How Is A Tax
Accountant’s KRA
Different From That
Of A CPA?
Educational Qualifications
Tax accountants need not have a dedicated degree like that of a
CPA, but should hold expertise in accountancy and taxationrelated matters. What they need to have is a relevant
qualification, and experience to fulfill their responsibilities
efficiently. Becoming a CPA is tough. It requires individuals to
meet state-specific educational requirements, and also for them
to qualify for a rigorous CPA exam before having the degree.
Services and Responsibilities
A tax accountant is generally involved in matters such as tax
filing, tax submission, tax planning, and helping clients who
are suffering from tax-related issues. They need to have a
sound knowledge of the latest tax laws to adhere to the
correct guidelines. When it comes to CPAs, their services are
vaster, which include financial planning, forensic accounting,
budget planning, audits, etc, along with taxation as well.
Scope
When it comes to tax accountants, a tax accountant in West
Los Angeles only has taxation-related matters as their scope
of work. As they are specialized in this specific kind of job
only, their scope seems narrow. But when it comes to a CPA,
their scope of work is a lot more diverse. This allows them to
work on a variety of financial areas which includes taxation as
well.
Specialization
A tax accountant in West Los Angeles specializes in taxrelated matters only. They indulge in tax planning and
preparation. Their expertise lies in tax laws, and helping
clients minimize their tax liabilities. But CPAs are multifaceted professionals who have expertise in many branches
of accounting, like auditing, budgeting, financial planning and
analysis, financial consulting, etc.
Ethics
Tax accountants are expected to adhere to ethical norms
and regulations. But they are not entitled to rigorous
regulations like that of a CPA. A CPA is entitled to strict
regulatory standards from their respective state regulatory
boards. A CPA is also required to adhere to the dynamic
regulations and education standards to remain updated
with the latest amendments.
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