As a highly specialized graduate degree program, the Master’s in Taxation is designed to provide accounting practitioners with unparalleled learning opportunities for developing the professional competencies in federal, state, and local tax codes. Often leading to a Master of Science (M.S.) degree, taxation programs prepare graduate students to file tax returns, advise clients on making smart tax decisions, assist tax auditors, and work with various revenue authorities. Although most Master’s in Taxation programs are designed for accounting professionals, these degrees are typically available for those with bachelor’s degrees in finance, business, accounting, management, financial accounting, or even economics. If you are interested in pursuing this degree, read on to learn everything you should know about Master’s in Taxation programs.
Typical Master’s in Taxation Curriculum
Within Master of Science in Taxation programs, students are specifically trained to utilize their knowledge to form financial decisions related to estate, income, gift, payroll, unemployment, foreign, and other types of taxes. Along with acquiring the skills needed for advanced tax practice, students often will be taught how to conduct tax research, evaluate personal financial situations, represent clients in an audit, and minimize liability in tax planning. Coursework will typically be related to tax law, estate planning, employment taxation, property taxes, international taxation, tax procedures, government regulations, return preparation, and more. In most cases, the Master’s in Taxation will require at least 30 credits of graduate studies over the course of just one year full-time.
Career Opportunities with a Master’s in Taxation
Similar to a Master of Accountancy (MAcc) program, the master’s degree in taxation will satisfy the educational requirements that are needed to sit for the Certified Public Accountant (CPA) exam in most states across the nation, according to Bisk CPA Review. As a CPA with a specialized degree in taxation, you will have plentiful career opportunities in today’s current job market to prepare tax forms for individuals, small businesses, non-profit organizations, or corporations. By knowing the U.S. federal and state taxes like the back of your hand, you will be qualified to work as a tax professional, accountant, financial planner, or even an IRS agent. A substantial majority of graduates with a Master’s in Taxation will fulfill in-demand positions in tax departments, accounting firms, tax law firms, tax publishing companies, and corporations.
Finding the Right Master’s in Taxation Program
In order to find top-rated business schools that provide the best master’s degrees in taxation, prospective graduate students should consider a number of key factors to narrow down the wealth of choices available. First and foremost, it is suggested that you choose a program that has been fully accredited by the high academic standards of the AACSB International. Taking into consideration a university’s ranking is also helpful to understand the program’s reputation within the business world. Furthermore, you should consider graduation rates, faculty credentials, financial aid packages, class sizes, program flexibility, student-faculty ratio, and program length to ensure you are choosing the right Master’s in Taxation for you.
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Overall, pursuing a master’s degree in taxation will provide you with a highly specialized accounting curriculum that specifically focuses on the intricacies of tax laws for practical application in completing tax forms for individuals, businesses, and organizations. With a Master’s in Taxation degree, you will have endless rewarding job options available at the federal, state, and local level in helping others to navigate the rough waters of tax.