Kate Alcorso, FTI, shares how growing up around accounting shaped her career in tax law, the value of volunteering, and why stepping outside your comfort zone can provide some of the most rewarding professional experiences.
How did you get started in tax?
My dad was an accountant, so I was immersed in that world from a young age. I used to help with bookkeeping and data entry, and during university I worked for businesses doing bookkeeping rather than taking on more traditional student jobs.
I completed both commerce and law degrees. Originally, my dad was disappointed that I wasn't becoming an accountant, but he quickly realised having a lawyer in the family had its benefits too. When I started practising law, I already had a strong interest in tax because I'd grown up around it.
One of the partners at my firm encouraged me to join The Tax Institute early in my career. That helped me maintain my interest in accounting and tax while building my legal career and ultimately allowed me to combine both disciplines.
How has your career evolved from where you started to where you are today?
I've had a fairly linear career path. I always wanted to be a lawyer, completed my degrees with that goal in mind, and have continually developed my expertise throughout my career.
What has added a different dimension has been the governance and board work I've undertaken alongside my legal practice. Those experiences have exposed me to different perspectives and helped me better understand risk management, decision-making and how organisations operate.
I think that broader governance experience has complemented my legal career and given me insights that have been valuable both professionally and personally.
What is one career milestone you're particularly proud of?
It's probably not what people would expect, but it's when clients genuinely recognise the value you've brought to them.
There have been times when clients have said, "You picked up something I never would have thought about," and from that point the relationship changes. You're no longer simply the lawyer they engaged because they needed one for a transaction. You become a trusted adviser.
Knowing that clients value your advice and seek your perspective because of the difference you've made for them is incredibly rewarding.
What's one misconception about tax professionals that you'd like to change?
I think lawyers and accountants need to work more closely together.
Clients often see their lawyer and their accountant as entirely separate advisers, but there's significant overlap between the work we do. Whether it's succession planning, trust structures or other complex matters, better collaboration often leads to better outcomes.
The misconception arises when a client seeks advice seeing an issue as either a legal matter or an accounting matter, but not both. Our roles are distinct, but they're also highly interconnected.
What motivated you to become involved with The Tax Institute?
Like many volunteer opportunities, it started because someone tapped me on the shoulder and suggested I get involved.
I'd already done a lot of governance and board work across schools, disability organisations and other not-for-profit groups, but I hadn't previously been involved with a professional membership body. When the opportunity arose to join the Tasmanian State Council, I thought it would be an interesting way to contribute to the profession.
Professional associations rely on members stepping forward and contributing. Getting involved allowed me to give back, within my professional sphere, while doing something I genuinely enjoy.
How has The Tax Institute shaped your professional development?
One of the things I've always admired about The Tax Institute is its focus on quality.
Whether it's the presenters, the technical content or the professional development opportunities, there's a consistent commitment to delivering high-quality learning experiences. As a younger professional, the content challenged me and gave me goals to aspire to. As a more experienced practitioner, I still find there are plenty of opportunities to extend your knowledge or learn something new.
As someone working in a broad practice environment, particularly in Tasmania, I've relied heavily on The Tax Institute to help me stay current across a wide range of tax issues and continue expanding my knowledge.
Why would you encourage other members to get involved?
Professional bodies provide opportunities to connect with like-minded professionals, share expertise and contribute to the profession.
That involvement might mean attending events, becoming a speaker, joining a committee or putting your hand up for a leadership position. Many people underestimate what they have to contribute.
Early in my career, I remember a partner telling me that because I'd done the research on a topic, I probably knew more about it than he did. That was a valuable lesson. If you've done the work and developed knowledge in a particular area, you likely have something worthwhile to share.
Getting involved can be an incredible learning opportunity, and you grow far more than you expect.
If you weren't working in tax, what career do you think you would have pursued?
I'd love to write fiction books.
I've always enjoyed writing stories, and I read widely, from biographies to crime and mystery novels. If I had more spare time, I think creative writing is something I'd enjoy exploring.
What is something outside of work that you're passionate about?
Girl Guides is my biggest passion.
I've been involved since I was seven years old and I'm still a Unit Leader today. Every week I work with girls aged five to ten, helping them experience everything from camping and rock climbing to cooking, crafts and outdoor adventures.
Guides has given me incredible opportunities throughout my life. I was Chair of the Girl Guides Australia Board until the end of last year and have travelled internationally through Guiding, attended world conferences and met people from around the globe.
What I love most is seeing young people grow, develop confidence and discover what they're capable of.
What advice would you give the next generation of tax professionals?
Volunteer.
Lawyers and accountants have valuable skills that community organisations, charities, professional bodies and boards need. Volunteering is one of the best ways to develop professionally because it teaches you how to apply your expertise in broader contexts.
You learn how organisations operate, how decisions are made, and how to balance different perspectives. In my experience, you often end up receiving more from volunteering than you give.