Masters in Taxation programs are designed for students who aspire to a career as a tax specialist or tax advisor. Within the world of business, tax regulations and laws typically require specialized knowledge and attention. The intricacies of the U.S. tax code, in addition to state-specific regulations, create a need for tax professionals who are trained in this very meticulous and important area of accounting and business. Masters of Science in taxation degree programs teach students how to create and implement successful tax strategies, develop skills in critical thinking along with a solid sense of ethical responsibility. Graduates with a master’s degree are prepared to work in a variety of potential settings such as: small or large corporations, accounting firms, banks and investment companies or in self-employed positions as tax consultants or advisers.
Masters in Taxation: Program Basics
Typical Masters of Science in Taxation programs take from 7 months in an accelerated program to 2 years to complete, and may require students to possess a Bachelor's degree . An internship may also be required.Though not all programs have prerequisites, students who wish to enter a master's degree program in taxation are often required to have a knowledge of business, finance or accounting, such as business statistics, financial accounting, managerial accounting and microeconomics. If you have majored in taxation during your undergraduate years, this may leverage your strengths and provide advance techniques, theory, knowledge and potential for career advacncement (BLS).
To be admitted into some master's program in accounting with concentration in taxation, students may need to pass the Graduate Management Admission Test (GMAT) and/or the Certified Public Accountant (CPA) exam. If you have not already passed an official CPA examination, your program might include classes that can help you prepare for and pass the exam.
FUN FACT: Some employers prefer to hire applicants who have a master’s degree, either in accounting or in business administration with a concentration in accounting.[i]
Which Masters in Taxation Graduate Program is Right For You?
Masters in taxation programs are offered through the business schools of several large colleges and universities in the United States. GradSchools.com has easy and well-organized search tools to help you find a program that aligns with your goals. You can initiate a location search to find graduate schools where you might study; choose a city, state or country and review your results.
If where you study is not a criteria but learning format is, browse listings by program format. Distance-learning is often chosen by busy working professionals, or by students who live too far from the school they want to attend. If this is the case for you, search by Master of Science in taxation online programs. The hybrid format of study is a combination of on-site and online courses. The appeal of this format is you get the perks of being on campus, such as use of libraries, gymnasiums, and face-to-face interactions, with the convenience of web-based courses.