The interview seems a challenging job for many individuals, especially to the freshers. It becomes more challenging when it is related to crucial fields of accounting and taxation. Let us know Tax Associate Interview Questions And Answers.
Tax Associate Interview
Interviews are challenging but there is always a pattern an interviewer follows to recruit employees. For the post of tax associate, your employer will ask you questions to check your skills, practical knowledge, efficiency, aptitude, and confidence. One just requires a little preparation to crack any interview. Here we have listed some important questions an interviewer could ask for a tax associate interview.
A tax associate is recruited by financial service providing firms or individuals to manage the taxation aspect of their books of accounts. Individuals working in this field should possess knowledge about all kinds of taxes applied in their country and also in foreign trades.
They should be updated about any taxation laws and amendments. One should be smart and skillful to manage the job and make maximum benefits for the firm. There are various tricks and strategies to increase a firm’s income by reducing taxes. One should be aware of that. Also, there is little difference between tax saving strategies and not paying necessary tax and doing corruption. One should be aware of that, and to make benefits for the company, laws should not be broken.
What does the interviewer expect?
Before going for an interview you should know what your interviewer expects. For a job like tax associate, a smart and focused individual is required. An interviewer will easily check your smartness and focus in half or an hour of the interview.
The common questions asked in an interview with their possible Answer
- Why did you choose to work with us as a tax associate?
There are two parts to these questions – the first is why the tax associate and the second is why in the particular organization. You should try to answer both the questions. The first one you can easily answer by telling your thoughts about the job and that at a particular point of career this job suits you most.
While answering the second part, you should prefer talking about the learnings and experience you can get from the organization.
“I’m new in the field of accounting and want to get more experience and what could be better than a job of tax associate to gain experience and knowledge. Also, taxes are the most crucial part of accounting so expertise in this sector is important for my personal growth.
Answering why I chose this organization is because I think it is a very good place to learn as I heard reviews of the organization. The name and glory of this organization could add up to stars in my portfolio.” (Answer this question according to the type of organization or individual under whomever you are supposed to work)
- What is the role of a tax associate in general?
Here your employer wants to know about your professional knowledge and whether you know about the expectations from the job of a tax associate. Tell him everything you know a tax associate is expected to do and you can also do.
“A tax associate is expected to do several works under the guidance of superiors like –
- Communicating with clients and clearing their problems.
- Applying tax-saving strategies to increase the income of the company.
- Filing the tax returns for the company.
- Doing tax audits etc.”
- What are the basic qualities one needs to possess to be a tax associate and do you have those qualities?
This question is asked to know about your confidence in your skills. Here you should mention only those accounting skills in which you are also efficient.
“A tax associate should be confident and efficient in problem-solving. Focus and dedication are very important so that one can not miss any important information. There should be good communication skills in a tax associate because we have to connect with clients.”
- Do you have any experience in the field of tax and accounting?
If you had worked for a similar kind of job then simply tell the experience. But for the freshers, it is difficult to answer this question. But there is no need to panic or say that you don’t have any experience. Rather tell them about your experience in school or university or the accounts you made for your university functions or if you ever worked under your senior or friend or did any internship.
“Yes, I had handled accounts during organizing the annual event at my university. Also, I had the experience of a couple of internships I did for a few months during my graduation days. I always worked on difficult problems online to improve my skills in accounting, which gave me a nice experience of the field.”
- How have you imagined your life as a tax associate in this organization?
You need to be very careful while answering this question. You have to keep in mind that the level of your roles and responsibilities in the organization will improve with time. So you have to point out basic jobs here.
“I expect working on regular data entries, software accounting, communicating with clients, and aiding seniors in their work. However, I’m ready to do any kind of accounting job offered by my superiors.”
- How will you keep yourself exact in accounting and calculations?
While answering this quote never say that the software will aid you in regulating mistakes and don’t allow you to make any. You have to put stress on your skills and techniques.
“To regulate mistakes the most important thing is the focus. While at work I won’t think about anything else other than work. I’ll check and cross-check the things and never write anything out of doubt. Rather than guessing, I’ll prefer taking help from my superiors. If practically seen, even after taking all the care even the best accountant could make mistakes, so if I’ll even make any mistake I’ll take full responsibility for it.
- How will you handle the complaints made by clients about the company’s work?
As a tax associate, you have to come across clients and communicate with them. To make good relations with clients your communication should be polite and effective. You should answer this question keeping in mind the company’s reputation.
“An effective communication with clients is very important for any firm in the long run. For that, I’ll always deal with clients patiently, understand their problem and solve it most effectively. I’ll prioritize the satisfaction of the client and give them the best possible result.”
- You must have faced difficult accounting problems. Can you please tell us about any such situation, how you dealt with it and what you learned?
Here the interviewer wants to know about your skills and actual accounting knowledge. You may have or may not have solved tricky accounting solutions. But during your education and practice, if you ever come across any such problem then tell me about that. Otherwise, just assure them that you are ready to learn everything.
“I have come across certain tricky questions during my practice but in real life, I don’t have any great experience of solving strategic and tricky problems. But under the guidance of superiors of this job I’m excited to learn this also.”
- How can you increase the income of the company by applying some strategies of tax reduction?
This is the test of your sharpness and practical knowledge. They expect that you should know more than just bookish knowledge. Tell them whatever you learned about tax reduction.
“Tax reduction is something every company wants. For that as a tax associate can do above-the-line deduction, contribute for charity, or contribute as a part of retirement and health-related plans. These accounts can save your money and reduce taxes on income.”
- Tell us about the different accounting software you are familiar with related to this job profile.
The interviewer here wants to know your technical efficiency. Here you should ensure that you have knowledge about various accounting software and can work on it.
“There are various software which are efficient for accounting like the ProConnect tax Online, Drake tax, ProSeries Professional, etc.” (You can also specify the specialties of this software to assure the interviewer with your technical knowledge.)
Other General Questions you should be prepared for:
- What are your expectations from our organization?
While answering this question you should focus more on learning skills and Novak things rather than monetary expectations.
- Where do you see yourself in the next 5 years?
You should be practical, confident, and careful while answering this question. You should say that you look forward to becoming more efficient and able to take bigger responsibility.
- How will you prioritize your work in case of a tight deadline and multiple tasks at a time?
Here you have a chance to show your dedication towards the work and leadership qualities. You should clearly explain nice time management and activity management timetable to your interviewer. You should also ensure that at any cost you will never sacrifice the work.
- What salary are you expecting from us?
This question also checks your confidence and is almost asked by all the interviewers. You can’t seem dumb while answering this question. You should have an answer to this question. You can say – “Based on your skill, knowledge, and experience and the rate in the market you should be paid between so and so amount (a fixed range or figure should be there.) After that, you can also say that you are open to negotiation.
- Why are you an ideal candidate for this role?
This is also a very common question every employer asks. To answer this question you should explain all your qualifications, skills, certificates, and all the factors the post expects from the candidate. You should be very confident here and not leave any scope for employers to think that you are not the ideal candidate.
In an interview with knowledge and qualifications, the most important thing is confidence. Interviews are all about confidence. There are very skilled employees wanting to seek jobs. You have to be different from them. To show this to your interviewer, put full effort to show the best of yourself to the employer. You should also dress properly and prepare for the interview prior so that nervousness does not take over you on the D day. If you are confident that means you win half a battle and the rest is on your qualifications and skills.
Why is preparation important? An interview is the most crucial step of the recruiting process. An effective interview could put a strong image of the employee in front of the employer. Therefore you need to prepare for it well.
To prepare for an interview, you should research the possible answer your interviewer would ask. Stay updated about the job profile and the company profile. You should also stay confident in your skills and qualities. Take a demo interview before going for an actual one and do a little practice. You should also take care of your look for an interview.
The interview of a tax associate is a tricky one. Confidence, smartness, focus, and communication skills are observed by the employer in the session. If you want to give an effective interview practice the above-mentioned questions and also the general questions an interviewer would ask. Stay on your basics and confidentially crack the tax associate interview.
- What should I wear for a tax associate interview?
Answer: Prefer wearing a formal, neat, and pressed outfit. Also, keep your hair well tucked.
- What salary expectations should I tell my employer?
Answer: To tell the salary expectations to do a little research about the salary given for this job around your area. Confidently tell your expectations to the employer referring to your skills and experience.
- Can a fresher get a tax associate job?
Answer: Yes, a fresher can get a tax associate job. Companies always search for fresh and affordable talent for this job.