What can be more rewarding than being a lawyer with the desired flexibility, less stress, and innumerable benefits? That’s the life of an esteemed tax lawyer. As per surveys, tax lawyers have the most satisfying job compared to other practice areas. Corporations and individuals rely on them to decipher the complex tax codes at the state and federal levels. Managing tax disputes, representing a client in a court, and providing legal advice are common responsibilities of a tax attorney. Here are the top benefits of studying this specialty in law school will be worthwhile.
Perks of selecting tax lawyer as a profession
Taxes play a key role in business operations. Organizations and salaried individuals must file income tax returns at the completion of every financial year. Hence, tax lawyers are always in demand. Companies prefer to work with full-time lawyers with a strong understanding of accounting, taxation law, and finance. As an outcome, people in this profession get the stability they seek.
- Lucrative income
Tax lawyers earn more than other legal fields. The average yearly base pay of a tax lawyer in the U.S. is approx. $133,580. Accomplished tax lawyers earn a lot more than that. The salary potential is one of the major reasons why students with knowledge of tax laws and policies consider this high-paying profession.
- Endless opportunities
Every employment sector is obligated to pay taxes. So, a tax attorney can find work in any industry. Accounting and law firms always look for talented attorneys. Serving the state/ federal government is another impressive option. Businesses also require in-house tax lawyers. Hence, there are plenty of job prospects.
- Excellent work-life balance
Every person dreams of having a job with a good work-life balance. Tax attorneys report working fewer hours than their peers in alternate legal specialties. the tax season (between February and mid-April) is an exception. The consistent work hours make it easy for them to focus on career growth and plan vacations with their family.
- Job satisfaction
Tax lawyers don’t just save a few dollars for their clients. The guidance of an experienced tax expert keeps a family’s finances anchored and a business afloat. Tax lawyers also join hands with charitable organizations and participate in volunteer services. Some even have the means to effect tax law revisions at a higher level by partnering with government entities. Hence, they can make a difference.
- Interesting and non-monotonous job
The job of a tax lawyer is exciting as the client depends on his advice. Each client has diverse tax needs. Tax lawyers deal with multinational corporations, individuals, and small businesses. So, they get variety in their work environments.
The above reasons sufficiently prove why young aspirants have a promising future as tax lawyers. Critical thinkers interested in tax law are a perfect match for this career. Becoming a licensed tax attorney requires intensive education from an accredited law school. After earning the bachelor’s degree, passing the state bar examination is essential to acquire licensure. Licensed tax lawyers have plenty of job opportunities and can establish themselves in the private and public sectors.