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Jul 22, 2015 3 min read

Tax Industry Update: July 2015

What are the salary differences for Enrolled Agents vs CPAs? What are the current trends influencing the accounting industry?

Tax Industry Update: July 2015

Enrolled Agent salaries:

  • In 2013, enrolled agents made an average of $75,000 per year.
  • Enrolled agents with one to three years of work experience can make up to $85,000.
  • Enrolled agents with more experience or at the senior level can make over $110,000 per year.

Accountant/CPA salaries:

  • Those with a CPA license can make about $50,000 to $80,000 a year, with higher salaries ranging around $125,000.

Recent Trends for the Accounting Industry:

  • 76% of accounting firms feel that technology changes their services and can add value to their customers over the next 5 years.
  • 72% of accounting clients between the ages of 18 to 34 would replace their CPA if they did not use a cloud-based system.
  • 85% of accountants think that time spent on electronic data analysis in the next year will increase.
  • Increased use of social media - Tax professionals are using social media sites to connect with their existing clients and build out their clientele. LinkedIn is the most popular B2B social media site.
  • Starting salaries for accountings are predicted to rise by 3.5% in 2015.
  • 60% of the universities predict higher enrollment in both MBA in accounting and MA in taxation.

  • 15% of universities receive more applications from qualified students for their accounting programs than they can accept - as there are limited spaces in the classroom.

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