Can someone tell me which career path is better, Tax vs Audit? And why?

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I'm in audit. Chose it because the work appealed to me a little more. Thought it would be less boring. I don't think I was wrong. But one key thing to know going in is the difference in ability to scale down. If you want to start a practice, make your own schedule, really dial it back some day, audit is not the route. I know people that work by themselves doing taxes and they like it. Smallest practical audit practice is gonna be like 3 partners and total like 9 staff deep.

Just depends what you want. What kind of job you want to plan for. And what your goals are. Grind for cheddar? WLB? Interesting work? Could be different depending on your answer.

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I’ve seen audit firms with 1 partner….

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I also am in audit and sometimes wish I’d done tax to eventually open my own firm. You know 75% of CPAs are requiring in the next 10 years, per the AICPA - who is going to do everyone’s taxes?

Whoever is open is gonna be rich

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Online software will do everyone’s taxes

Audit

You have a much easier time pivoting to the client - more doors open

Tax for an example I am pigeonholed into partnership tax exit opportunities are few

IRS used to be a good exit but look where that s headed

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Not my experience haha
I would say maybe they worked in corporate tax not partnerships, s corps, etc

Personally I find Tax 1,000 times more interesting and important.

Notice how often you see Tax (e.g., tariffs, legislation) in front page stories, presidential speeches, etc.

Look at the markets lately. Tax proposals shape the world economy.

In 20 years I’ve only seen one front page story about Audit (Enron). It’s just not as interesting or important to people’s lives.

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Probably not an overall representation of audit but AUD made me choose tax. Audit is the blandest subject I’ve ever studied

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Same. Bored me to tears

I don’t know that there’s a best “path”, each career will be what you make of it. All careers are a dead end if you don’t do anything with it.

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Audit leaves way more doors open for a broad career in accounting and finance. Tax is better if you someday want to hang a shingle and own your own small firm, or if you’re a huge tax nerd

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I always tell people if they think they like law, try the tax route. Lots of lawyers in tax specialities. Lots of laws (Fed code, states, international) to over analyze

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I did audit and regret it, my brain doesn’t work well with tax but I should have figured it out. 100% better due to always being in demand and the many options either with a company or on your own. Death and taxes as they say.

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I chose tax versus audit because I wanted to learn how to minimize my personal income taxes. The job is a great way to force me to stay updated as regulations are proposed and even change. Another reason is that everyone will need their income tax returns filed from a large business to an individual who makes very little income and could get a returned. I felt that there was even more job security compared to audit. Now that I’ve been in it for nine years, I love the flexibility. I always thought you would be pigeonhole, but you could go to different areas of tax or even expand to tax technology. I have been very lucky and haven’t had any issues trying to find a job when I didn’t love an employer.

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What’s better is which ever one you prefer more.

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Tax. More job security.

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I interned in audit and then worked in audit for 3 years… then made the switch to tax. I don’t regret it. I work in M&A tax and love it. Audit got way too repetitive and boring…

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💯

It is what you prefer and what you are good at. There is no “better”. What good would it do for myself to go into audit just because someone thinks it’s better. I found it boring and repetitive but others could love it.

No right or wrong answer here. If you are staying in public, do what interests you the most.

I will say that it’s a lot easier to get a controller type position from the attest side than tax. So of your stay in public will be short, that is a consideration

I think taking CPA and going into audit is an excellent option. Lots of opportunities in governance, and it is very important in all companies

My experience is from long ago but auditors worked harder, a lot harder, and traveled more. Then again the firm was run by auditors.

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