Dual degree programs are great for students who want to earn a Master’s of Taxation and a second graduate degree at the same time. Many colleges now offer this option, which lets you use credits from both programs to complete the requirements necessary to finish your degrees. Depending on the second program that you enroll in, you may need to take classes through a different department or even on the other side of campus. It’s often helpful to look at some of the options available before deciding to enroll in two programs.
Master of Business Administration
One of the more popular options for those studying taxation is a Master of Business Administration degree. Getting your MBA can help you make more money than if you had just a taxation degree and can increase your future opportunities, too. The MBA program will include courses on economics, finance, leadership, management, business laws and ethics. You may even take entrepreneurship courses that help you run your own business later. Several colleges now offer these joint MBA and taxation programs online.
Master of Science in Accounting
A large number of students enrolling in graduate accounting programs want to work as certified public accountants. To become a licensed CPA, you must meet two requirements. You will need to complete a minimum of five years of accounting and finance courses and then take the CPA licensing test. Going to graduate school lets you complete your fifth year of study. With a degree in taxation and a second degree in accounting, you can open your own accounting firm or work for an established firm. You’ll have a better understanding of taxation laws relating to both businesses and individuals than traditional accountants have.
It usually takes three years to finish law school and get your JD degree before taking the bar exam that gives you a license to practice law. With a Master’s of Taxation and JD dual degree, you can become a lawyer who specializes in finance and taxation. These professionals are the ones who help clients work out payment plans with the Internal Revenue Service and those who help clients understand the audits they go through and other issues they have with the IRS. Financial lawyers also present evidence in court and help keep clients accused of tax fraud or tax evasion out of prison.
Benefits of Dual Programs
The biggest benefit of a dual program is that you can complete two graduate degrees in around three years or less instead of completing two separate two-year programs. Reyna Gobel of U.S. News & World Report points out that these programs can also help students save money and increase their chances of finding jobs they love. With a degree in taxation and another subject, you bring more skills and knowledge to the table than any of your peers do. Employers look at dual program graduates as having good time management and organizational skills too.
A dual program in taxation and another subject lets you study two topics you love and earn degrees in both fields. Some of the best subjects that work in a dual degree program that includes a Master’s of Taxation are accounting and law, but you’ll also have the chance to complete a Master of Business Administration while in grad school.