Attending a specialist program at a tax school would allow graduates to have a long and desirable career upon graduation. Tax is money paid to a government other than for transaction. That is specific goods and services. This means all forms of taxation and statutory, governmental, state, federal, provincial, local, government or municipal charges, duties, levies, withholdings or liabilities. Taxable income is gross income made by an individual or business that is considered taxable by a state or country, or both in the United States. As there is no shortage of educational establishments offering programs relating to taxation, the only difficulty is identifying which course would best suit your personal ambitions and career aspirations.
Tax Preparation Education and Training
If you wish to become a tax preparer it would be important to understand the requirements of a training program and the necessary tax certification that you may be required to obtain. By undertaking an associate, bachelor, or master’s degree in a field relating to taxation and tax laws, a graduate would be well positioned to help individuals, businesses, and government branches with taxes and related accountancy matters.
It is possible to work toward an accountancy degree at a range of schools and colleges, as well as online. Most positions that are available in this sector, expect applicants to hold a bachelor degree at the minimum. It is necessary to do an extra year of study to become eligible for the CPA (Certified Public Accountant) licensing exam.
A tax accounting program focuses primarily on the concepts and dynamics that lie behind the preparation of personal income returns and corporate tax returns. It is also expected that students graduating from tax school become familiar with advice relating to the deferment of taxes, acquisitions and mergers, and the classifying of various business expenses.
To learn tax preparation at an associate degree level, the curriculum may include modules relating to bookkeeping, accounting information systems, business taxation, payroll accounting, business management, cost accounting, individual income taxation, state income taxes, and federal income taxes. Taxation course offerings might include:
- Taxation of Property Transactions (Real Estate Law)
- Corporate Taxation
- State and Local Taxation
- Tax Law
- Partnership Taxation
- International Taxation
If the degree is a bachelor’s honors program at the tax school, a greater depth of study and analysis would be required. The syllabus, depending on the particular tax school, would be based around core subjects such as financial accounting, auditing, financial reporting, accounting information systems, income accounting, federal accounting, business tax practices, and managerial accounting. Income tax preparation courses may also be required as part of the program of study.
A masters program at a tax school would provide knowledge based around the principles of tax research, operations management, advanced entity taxation, corporate taxation, auditing systems, and local taxation regulations.
Licensing and Certification
The Bureau of Labor Statistics (BLS) reports the following Certification and Licensing information:
Most accountants and auditors positions need one to have at least a bachelor’s degree in accounting or a related field. Certification within a specific field of accounting for example forensic accounting or auditing also improves job prospects. An example is the Certified Public Accountants (CPAs) qualification. Certifications include:
- The Institute of Management Accountants – Certified Management Accountant (CMA)
- The Institute of Internal Auditors (IIA) – Certified Internal Auditor (CIA) to graduates from accredited colleges and universities with 2 years work experience as internal auditors and have passed a four-part exam. The IIA also offers the Certified in Control Self-Assessment (CCSA), Certified Government Auditing Professional (CGAP), and Certified Financial Services Auditor (CFSA) to those who pass the exams and meet educational and experience requirements.
ISACA – the Certified Information Systems Auditor (CISA)
- The American Institute of CPAs (AICPA) – For accountants with a CPA. An option to receive any or all of the Accredited in Business Valuation (ABV), Certified Information Technology Professional (CITP), or Personal Financial Specialist (PFS) certifications.
All accountants filing reports with the Securities and Exchange Commission (SEC) are required by law to be a Certified Public Accountant (CPA). Many employers may also have this requirement.
CPAs are licensed by their state’s Board of Accountancy after meeting requirements that may include passing a national exam and meeting other requirements such as completing 150 semester hours of college credit (30 hours above the 4-year bachelor’s degree). Some programs offer a 5-year combined bachelor’s and master’s degree to meet the 150-hour requirement, but a master’s degree is not required.
All states use the four-part Uniform CPA Examination from the American Institute of Certified Public Accountants. Candidates do not have to take and pass all four parts at once, but a general requirement is to pass all four parts within 18 months of passing their first part. Most states require CPAs to take continuing education to maintain their license.
Tax Preparation Careers
As long as there are taxes, there will be a need for professional experts to help explain and administer the various regulations. A degree from a recognized tax school can open the door to a range of desirable opportunities across various sectors. Online tax courses may be available for professionals who are already in the field and are looking to maintain their licensure.
Those individuals employed in the private sector provide advice to businesses and individuals on the way their decisions affect their tax obligations. Intensive preparation research and planning is often required. In the public sector, there are always opening with the state and federal government as collectors, auditors, and the like. While there are various electronic income tax preparation programs available, it is important to fully understand tax laws and regulations at the state and federal level.
Estimated Income and Projected Career Outlook
A career in this field is extremely rewarding in terms of the salary packages that are available. An entry level position can provide between $35,000 and $45,000 per annum, while for those individuals holding a masters qualification the compensation is even greater. With experience, a taxation accountant can command a salary of more than $100,000 per year.
The Bureau of Labor Statistics (BLS) reports that the median annual wage of accountants and auditors was $61,690 in 2010. The lowest 10% earned less than $38,940 and the top 10% earned more than $106,880. The employment of accountants and auditors is expected to grow 16% from 2010 to 2020.
The median annual wage of bookkeeping, accounting, and auditing clerks was $34,030 in 2010. The lowest 10% earned less than $21,270 and the top 10% earned more than $51,470. The employment of bookkeeping, accounting, and auditing clerks is expected to grow 14% from 2010 to 2020.
The median annual wage of tax examiners and collectors, and revenue agents was $49,360. The lowest 10% earned less than $29,540 and the top 10% earned more than $92,250. The employment of tax examiners and collectors, and revenue agents is expected to grow 7% from 2010 to 2020.
According to the United States Bureau of Labor Statistics, the number of opportunities in this field is expected to grow by as much as 22% in the coming decade. This is a figure higher than in most other industries, and is predicted due to an increase in the number of small businesses in operation, as well as an expansion in complex taxation laws and regulations. Finding a good tax school will therefore help you become a professional in this steady field.
Accounting and Taxation Programs
- Specialized bachelor’s and master’s degrees that let you take more courses devoted to your field of interest, on average, than at other similar schools.
- 4 out of 5 employers of an AIU business graduate say they would hire another AIU business graduate
- Classes taught by industry specialists who bring a real-world perspective to the classroom
- Business administration programs are accredited by the Accreditation Council for Business Schools and Programs (ACBSP) with the exception of Technology Management and Fashion Marketing specializations
- MBA degrees can be completed in as little as 12 months
- Bachelor of Accounting
- Bachelor's (BBA) - Accounting
- Offers M.B.A. and bachelor’s programs in Business Administration with concentrations in Marketing, Accounting, and more
- Ranked among the Best Online MBA Programs and Graduate Business Programs for 2017 by U.S. News and World Report
- Coursework covers topics like project management, management fundamentals, and business strategies
- Business students complete a capstone class that demonstrates their knowledge of business concepts
- Master of Science in Accounting
- Bachelor of Science in Accounting
- Master of Business Administration - Accounting
At Kaplan University, we offer over 180 degree and certificate programs. With three different ways to learn, you can choose the format that works best for you:
- Study wherever you have an Internet connection, because almost all of our courses are 100% online, or
- Take campus-based classes(with day and evening options available), or
- Combine campus learning with online classes (blended).
- Master of Science : Accounting- Tax Specialization
- Bachelor of Science in Accounting : Tax Accountancy
- Master of Science: Accounting
- And more...
A Rutgers business education prepares students for success – not just in their chosen fields but also in their lives. From our comprehensive undergraduate courses to our highly rated MBA program, a Rutgers education is a life-changing experience that gives the student the skills and knowledge to compete globally while broadening their appreciation for how the world works. Many describe it as one of the most rewarding experiences of their lives – professionally and personally.
- Master of Governmental Accounting (Online)
Centura College, with campus locations in Virginia, South Carolina and Florida, is dedicated to helping students gain the skills and attitudes necessary to succeed. Drawing from over 30 years of career school experience.
- Associate of Applied Science Degree in Business-Concentration in Accounting Administration
Fortis Institute can give you the skills you need to train for a career in the healthcare field.
* Programs vary by location
* Please contact each individual campus for accreditation information
- Associates in Business Management - Accounting
Earn your graduate degree online with Northcentral University. We offer online programs focused on doctoral and master’s degrees in the schools of business and technology management, education, psychology and marriage and family sciences.
- Advanced Accounting - PhD in Bus. Admin.
- Advanced Accounting - D.B.A.