Benjamin Franklin said only two things in life are certain: Death and taxes. Trained tax professionals will always be in demand so long as the government continues to levy taxes against its citizens. Also, trained individuals tend to find high paying jobs early on that offer plenty of growth and travel opportunities for years to come. Mark Weinberger, Chief Financial Officer of Ernst & Young, is a prime example of tax professionals working across a broad spectrum of industries. We'll explore his career and other potential jobs in the tax industry.
Case Study: Mark Weinberger, CFO, Ernst & Young
Although he's CEO today, Mark Weinberger began his career in the tax industry as an entry-level employee at Ernst & Young in 1987. His focus shifted to the public sector when Senator John C. Danforth (R-Missouri) hired him for Tax Counsel in 1990. Four years later, Mark became Chief of Staff for the Entitlement and Tax Reform Committee and a member of the Social Security Advisory Board. He turned to the private sector by co-founding Washington Counsel, P.C., in 1996, which later merged with EY in 2000. In 2001, he went public again and became Assistant Secretary of the Treasury for Tax Policy. However, he stepped down from that position and returned to EY in 2002, where he remains today as CEO Mark Weinburger after the retirement of former head Jim Turley in July 2013.
Seasonal Tax Preparation
Many individuals looking to begin a career in the tax industry start as seasonal employees for individual and family tax preparation agencies like Jackson Hewitt and H&R Block. These are great places for individuals with little or no experience to get their start in the tax industry. You'll get a start learning the ins and outs of tax code and the often dense legal language that supports it. Many companies will even offer courses to help train their new hires. Depending on how you perform here would be a good indicator for whether the tax industry is right for you.
These folks work on the opposite end of the tax equation from the seasonal preparers mention above. The main job of a tax examiner is to decide whether an applicant (usually an individual) has a legitimate claim to various tax credits and deductions. They'll also dig into an applicant's bank and employment history to make sure they're reporting 100 percent of their income. Mark
Tax Policy Makers
These individuals are the top brass when it comes to deciding the dynamics of how the United States best balances the dynamics of taxation and social change. They review on a broad scale how the nation's current tax policy shapes the lives its citizens while simultaneously speculating repercussions of future changes under consideration. During his time at the treasury, Mark learned "answers are rarely black and white or positions clearly right or wrong."
There will always be a high demand for individuals and tax professionals with solid knowledge of all applicable tax codes that may affect an individual or group.
Steven Richmond is a journalist from North Central Florida.