Just curious how lucrative is partnership tax compared to other tax service lines. I am constantly told sub chapter k is the hardest and if you specialize in it your set. I’m happy to do it for now but I’m having trouble picturing what is it I’m signing up for in the long run

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I don’t think it is any more lucrative than any other area.

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The real money with partnership is being a partner in a CPA firm or being a lawyer in the field. That really narrows down the opportunities. Otherwise yes it’s a trap and you’ll end up as a bitter staff accountant or in a small firm dealing with small business owners, basically the kind you’d want to avoid.

The best tax service line, always, is provision.

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D1 - in house. If you’re good there’s plenty of opportunities to job hop if you aren’t happy with your comp.

I did private equity tax, which is all partnerships and I am doing well - 215k comp with 7.5 years experience

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In house?

M & A Tax is the more lucrative tax service line, followed by international tax

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So are you doing research as the deals come? That would seem rather inefficient. I would think you’d have to specialize in either C or K as a basis for the work. How do you consult on M&A deals without it?

I’m a partner at PwC and work extensively with partnerships. It’s a great skill to have — definitely keeps work coming in and helps me meet revenue goals, etc. That being said, it’s part of an overall skill set in tax that is much broader than just partnerships.

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Was hard to become a partner in PWC? How did you become one?

Your set if you want to stay in public. In private corp/provision is easier to find exit ops.

There still are exit ops in partnerships in real estate, pe, hf, o&g.

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Subcjapter K is the nost complex by far

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The most lucrative role as a Tax partner is Lead Tax Partner or Tax Account Leader. Not a service line per se but clearly the highest paid tax partners, also typically have the most pull if they are in the top 50% of account leaders.

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I would image a lot of SMPs in tax make more than general Tax account Leaders.

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