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Tax -> T&E?

Posted: Sat Mar 04, 2023 3:49 am
by asdfasdf2
Just wondering if anyone had any insight about the feasibility of making a transition from tax to T&E. I am talking specifically about T&E for high net worth individuals and such (not drafting wills for the man on the street, etc.).

I have 2+ years experience in tax, but aside from taking a course on estate & gift tax in law school, I have only minimal experience with T&E. Nonetheless, what I have seen of it has piqued my interest, and I think I could see myself pursuing it further. Developing relationships with individual clients is part of the appeal for me. I understand that it might have more limited opportunities for advancement given that it's not as profitable for many firms, but it might be a tradeoff I am willing to take for the right opportunity. However, I understand that it might be a steep learning curve, and firms might not be willing to take a chance on someone green.

Re: Tax -> T&E?

Posted: Sat Mar 04, 2023 1:26 pm
by Anonymous User
T&E associates won't like this, but estate and gift tax is easy A F. You will easily be able to do it if you have solid income tax experience.

Hardest part will be getting in, as it is not a huge practice, and somewhat insular.

Re: Tax -> T&E?

Posted: Sat Mar 04, 2023 4:46 pm
by jake768
Agreed, you'll have no problem transitioning and your income tax experience will help a lot. Basis issues are becoming even more important in T&E. Some learning curve, but I agree, no problem. T&E matters are often smaller and the practice itself is inherently more salesy than general tax. Flip side of that is you will more likely be the relationship contact/credit vs just a consult. (Former T&E associate.)