Best Master's In Taxation Degrees

With the rate of growth of businesses at an all-time high, the demand for professionals who understand tax laws will always be present.

A Masters in Taxation is a highly specialized field of accounting that is generally geared towards working professionals who wish to understand the basics of taxation and/or focus on a specific area such as corporate or individual taxes. Graduates will be able to synthesize and prepare different solutions when it comes to taxation issues confidently upon completion of this degree.

What kind of taxation degree should you get?

There are many different types of Taxation Masters programs, with the main ones being a Master of Science in Taxation or a LL.M. in Taxation. An MS in Taxation builds upon undergraduate accounting knowledge and goes further into tax law, while an LL.M. is ideal for those who are interested in later pursuing a J.D.

Some schools also offer certificate programs for those that wish to gain a little more expertise in taxation, without taking the full time to complete an entire degree program. In addition, there is also the option of getting a Master of Science in Accounting (MSA), Master of Accountancy (M.ACC), or Master of Professional Accountancy (MPA). While these programs focus on accounting more generally, many schools give the option of focusing on taxation.

For those that wish to pursue a Certified Public Accountants (CPA) certification, both Taxation and Accounting Masters generally meet the requirements, but one should check with the individual schools before applying. If you aren't sure how much time you can dedicate on campus, check out College Choice's Best Online Master's in Taxation.

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How much money do people with a master's in taxation make?

People who have a Masters in Taxation make 5-10% more than those with a masters in any field, with an average salary of $60,000 to $120,000 depending on seniority, location, and profession. According to Payscale, a tax manager makes an average of $97, 960, a senior tax manager makes $129,497, and a tax director makes about $149,101 yearly. The most popular and profitable cities for this career is Boston, Chicago, New York, Phoenix, and Los Angeles.

Learn more about accounting degree salaries.

What can you do with a degree in taxation?

A degree in taxation generally prepares students to become an accountant or auditor. An accountant prepares various financial statements and tax forms, as well as balance and check fiscal reports. Auditors help businesses with their taxes and other financial reports to make sure they are free of error. A Masters in Taxation prepares people to become a CPA, who advise businesses on financial matters.

What are the requirements for a master's in taxation?

While each university is slightly different, in general students must have taken general accounting, business, mathematics, and economics courses that are covered in an undergraduate degree. For those who do not have a degree in accounting, admission into an MS Taxation program is still possible as long as the required courses are taken at an accredited university. Students are also required to meet the minimum GPA requirements and have a strong GMAT score.

Learn more about accountant requirements.

What are the best master's in taxation?

CollegeChoice has ranked the best Masters in Taxation programs after compiling data on institutional excellence and student success from a variety of sources such as the IPEDS database, the U.S. News & World Report, Payscale, and individual college's websites.

Institutional excellence is graded on a variety of factors, such as endowment, entering students' test scores, graduation rate, etc., while student success is ranked by expected starting salary, financial aid, average indebtedness, etc.