A master's degree in taxation can help graduates increase their earning potential and qualify for advanced roles. For example, earning this degree can help professionals meet educational requirements for certified public accountant (CPA) licensure in their state. Current accountants or those interested in taxation-related careers can benefit from earning their master's in taxation.
During a taxation master's program, graduate students study corporate taxation, income tax accounting, and international taxation. Graduate-level coursework prepares professionals for jobs as CPAs, tax accountants, and tax auditors. A master's degree can also lead to management roles such as tax manager or tax director.
Master's programs can be costly. By choosing an affordable online taxation program, students can limit their debt and increase their return on investment. Our list ranks the cheapest master's in taxation online programs to help prospective grad students find the right fit for their budget and career interests.
Why Get a Master's Degree in Taxation?
A master's degree in taxation offers graduate-level preparation for careers in tax accounting, public accounting, and tax management.
Specialized training can help graduates move into advanced roles with a higher earning potential. For example, employers may prefer to hire candidates with a master's degree for managerial positions like tax manager or tax director, two accounting careers that pay higher-than-average salaries.
Earning a master's in taxation online appeals to busy students seeking a flexible enrollment format. Many online master's programs design their curricula to accommodate working learners through asynchronous or evening classes, which means students can continue working full time as they study.
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Find a program that meets your affordability, flexibility, and education needs through an accredited, online school.
Most Affordable Online Master's in Taxation Degrees
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How Much Does a Taxation Degree Cost?
The cost of master's in taxation programs varies by school. According to data from the National Center for Education Statistics, graduate school tuition averaged $19,749 in the 2020-21 academic year. Typically, in-state public schools charge the lowest tuition, while private and out-of-state public institutions charge higher tuition.
For online degrees, some public schools offer in-state tuition for all enrollees regardless of state residency, while other institutions offer a lower online-only rate for distance education. Master's students can reduce their out-of-pocket expenses by applying for scholarships and grants.
Additional Online Student Fees
Online learners do not pay for campus housing or meal plans. However, they should budget for other expenses, including textbooks and other class materials. Some schools charge technology or online instruction fees. Students pursuing an online master's degree in taxation may also need to buy a new laptop, upgrade their internet speed, or license specific software.
Though some distance learning degrees are fully online, others include in-person requirements like program orientations, short campus residencies, or travel learning opportunities. Prospective students should research these requirements and account for travel and lodging costs in their overall budget.
How Much Do Taxation Majors Make?
According to July 2023 Payscale data, the average salary for professionals with a master's in taxation is $94,000. Several factors determine salary, including location, employer, years of experience, and even job title. For example, Payscale data reveals tax managers earn a higher average salary than tax accountants, and professionals in big cities or more populous states tend to earn higher wages than their counterparts in rural areas.
Courses in a Master's in Taxation Program
Learners pursuing a master's degree in taxation explore advanced concepts in taxation. In addition to core courses, some programs let learners pursue specializations to develop their knowledge in niche areas. These degrees may also include internships or thesis project requirements.
Below, we explore several common courses in master's in taxation programs. Specific classes vary by school, so applicants should explore each degree's course offerings to ensure a prospective program offers classes that align with their career goals.
Corporate Taxation: This course provides advanced training in corporate tax laws and regulations. Learners study corporate tax deductions and regulations on shareholder distributions. Students also explore the tax implications of acquisitions or divisions. Coursework helps prepare graduates to work as tax managers in corporate settings.
Taxation and Property: Students in this class examine the tax implications of acquiring, owning, and selling property. Coursework covers property tax and installment reporting for property sales. The class can help graduates qualify for roles in real estate taxation.
Income Tax Accounting: This course covers topics like deferred taxation strategies, effective tax rates, and estimated tax filings. Students learn about reporting requirements, international tax regulations, and tax allocations. The course also covers tax preparers' ethical responsibilities.
Accreditation for Online Taxation Degrees
Before earning a master's in taxation online, prospective students should research accreditation. Choose a college or university with institutional accreditation — this verifies that the school meets standards for academic excellence. Attending an accredited school is especially important for aspiring CPAs, as many states require candidates to hold a degree from an accredited institution.
In addition to institutional accreditation, taxation degrees may hold programmatic accreditation from organizations like the Accreditation Council for Business Schools and Programs or AACSB International. This optional process evaluates coursework to ensure it prepares learners for careers in the field.
Accredited online universities meet the same high standards as in-person schools. Many programs award identical diplomas to online and on-campus learners. However, when choosing an online degree, make sure the school holds state authorization to teach learners in your state, as some programs limit access to students in specific states.
Check the U.S. Department of Education's Database of Accredited Postsecondary Institutions and Programs to learn more about the accreditation status of any university or program.
Career and Salary Outlook for Taxation Majors
Professionals with a master's in taxation can pursue careers in a variety of accounting and taxation specialties. A master's degree can also help graduates qualify for managerial roles.
Career paths after earning a master's in taxation online include:
Tax Manager Tax managers oversee business tax reporting and compliance. They file tax returns, document mergers and acquisitions, and research tax laws. Tax managers generally need several years of experience as a tax accountant.
Senior Tax Accountant Senior tax accountants specialize in taxation. They oversee the production and filing of tax returns for businesses and individuals. Senior tax accountants typically have several years of experience or a master's degree.
Certified Public Accountant CPAs specialize in taxation and public financial reporting. They prepare tax returns, conduct audits, and recommend accounting procedures. CPAs must meet state-level educational, exam, and experience requirements to qualify for CPA license.
Financial Controller Financial controllers, also called comptrollers, oversee organizations' financial operations, including accounting, auditing, and budgeting departments. These professionals typically need several years of experience or advanced educational credentials.
Tax Director Tax directors oversee tax strategy for their organizations. They manage tax reporting to ensure accuracy. These workers often have several years of CPA experience.
| Career | Average Annual Salary, July 2023 | Projected Job Growth, 2021-31 |
|---|---|---|
| Tax Manager | $103,880 | 17% |
| Senior Tax Accountant | $76,290 | 6% |
| Certified Public Accountant | $74,600 | 6% |
| Financial Controller | $90,520 | 17% |
| Tax Director | $158,250 | 17% |
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Frequently Asked Questions About Taxation Degrees
What can I do with a master's in taxation?
With a master's in taxation, you can qualify for jobs like certified public accountant, tax accountant, or tax auditor. The degree also helps prepare graduates for careers in tax management.
How long does it take to get a master's in taxation?
Earning a master's in taxation online generally takes two years for full-time students. Some programs offer an accelerated, one-year program. Often, these degrees require at least 30 credits of graduate-level coursework.
What's the difference between taxation and accounting?
Taxation is a specialization within the broader field of accounting. While accountants focus on financial reporting, auditing, and accounting broadly, taxation professionals specialize in tax returns, tax strategy, and tax-related public accounting.
