Tax Accounting Programs in New Jersey
Over the next seven years, employers are expected to add nearly 200,000 new jobs for people with a degree in accounting. According to predictions from the Bureau of Labor Statistics (BLS), tax auditing is just one accounting specialty that is expected to do very well. In addition to examining tax returns for errors, tax auditors provide financial guidance to individuals and business owners.
The New Jersey Board of Accountancy requires all tax professionals, including auditors, to pass the Certified Public Accountant (CPA) exam. Applicants do not need 150 semester hours to sit for the exam, but they do need to fulfill that requirement to receive their certification. The undergraduate degree program must include 24 hours of accounting coursework and 36 hours of instruction in miscellaneous business topics. The CPA includes sections on auditing, financial, business and regulation topics. New Jersey applicants must pay a total of $948.20 to take all four parts of the exam.
As of May 2020, accounting professionals earned an average salary of $96,260 in New Jersey, while tax preparers here earned an average salary of $56,340. Between 2018 and 2028, the number of accountant and auditor jobs in the state is projected to increase by 6.7%, and the number of tax preparer jobs is projected to increase by 7%.
About 4,310 annual job openings for accountants and 180 annual job openings for tax preparers are expected during this ten-year period leading to 2028 due to a combination of new job growth, retirements, and natural job turnover.
May 2020 Bureau of Labor Statistics salary and job market trends for accountants and auditors and tax preparers. Figures represent state data, not school specific information. Conditions in your area may vary. Data accessed April 2021.