Taxation is therefore a much more specific sector than accounting. While accounting encompasses all of a company's operations, taxation focuses on implementing strategies to help companies optimize their tax situation and meet their legal tax obligations.

Accountants that specialize in the laws, rules, and regulations for the preparation and calculation of federal, state, and local taxes are typically known as tax accountants. Tax accountants provide a range of tax-related services to both individuals and businesses, which can include preparing and filing tax returns.

A certified public accountant (CPA), however, is someone who has earned a professional designation through a combination of education, experience and licensing.