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When it comes to jobs in accounting and finance, many people consider becoming CPAs, while few think about the option of becoming enrolled agents. With an increasing need for EAs across the nation, choosing to follow this career path can be both satisfying and lucrative. This exam covers auditing and attestation, business environment and concepts, financial accounting and reporting, and regulation.
- The following table includes the average base salaries earned by tax preparers at various stages of their careers, based on user-submitted reports.
- In addition to the salary benefits, you’ll also enjoy increased representation rights so you can expand your client base and the services you can offer.
- Tax preparers do not need to meet any firm educational or certification requirements.
- Be sure to consider additional factors alongside salary when planning your professional path.
- For each stage of your Enrolled Agent career, you’ll see an average salary increase of 8.38%.
- Beyond enrolled agent salaries, there are numerous advantages to becoming an enrolled agent.
In order to work as an enrolled agent, candidates must receive the proper certification from the Internal Revenue Service. Generally speaking, interested candidates should have a background in public accounting. Just like you would working in the private sector for tax clients, you’ll be tasked to educate, assist and counsel but on behalf of the IRS. As an EA seeking employment in this area of work you will generally need (2) years of experience preparing individual federal and state returns.
Enrolled Agent vs. CPA: What’s the Difference?
The following table includes the average base salaries earned by tax preparers at various stages of their careers, based on user-submitted reports. Note that median base salaries tend to peak during the midcareer phase. However, 90th percentile base salaries are higher at the experienced and late-career stages than at the midcareer level. Experienced tax preparers benefit from the knowledge and insights they accumulate over their careers.
- With his help, countless students and professionals have passed certification exams and achieved their dreams.
- Note the strong labor market demand in the Washington, D.C., area, which has a very high concentration of federal government agencies.
- Self-employed individuals, on the other hand, have to calculate and pay these taxes themselves.
- CPAs, on the other hand, are public accountants who file reports with the Securities and Exchange Commission (SEC).
- In 2022, she was named one of CPA Practice Advisor’s 20 Under 40 Top Influencers in the field of accounting.
This is largely due to budget cuts resulting in a decrease in hiring. Beyond enrolled agent salaries, there are numerous advantages to becoming an enrolled agent. An EA is the only individual who has been the right to practice as granted expressly by the United States government. This type of license restricts their ability to practice to only the states where they have been licensed. Enrolled agents hold federal licensure, which gives them a much broader jurisdiction.
Highest paying cities for enrolled agents
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EAs prepare taxes, can stand in for you during an audit, and handle other business you may have with the IRS. Although CPAs may have a greater earning potential, that salary comes with the need to spend longer in school, gain more work experience, and take a much more in-depth exam. As of October 2021, the Bureau of Labor Statistics (BLS) recorded the national median salary for CPAs in the U.S. as $73,560.
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