Best Master's in Taxation Degrees

Earning a master's in taxation prepares students for rewarding careers in business and finance. Popular career paths for tax professionals include accounting, financial management, financial analysis, and tax examination and collecting. Many employers require or prefer job candidates with master's degrees. A master's in taxation can improve the career opportunities and salaries available to graduates.

The Bureau of Labor Statistics (BLS) projects an 8% growth in business and financial occupations between 2020 and 2030, about as fast of a growth projection for all occupations. Factors contributing to this projected growth include expanding economies, globalization, and a complex regulatory and tax environment.

This page includes our list of the best master of taxation programs. We also answer the question, "What can I do with a master's in taxation?", explain what to expect from a typical program, and suggest strategies for choosing the right school.

What to Expect From Master's in Taxation Programs

Tax master's programs provide a foundation in general accounting theory and practice while focusing on specialized knowledge of tax regulations and tax law. Tax master's programs prepare degree-seekers for a variety of careers helping companies and individuals understand their tax obligations and comply with the law.

Most tax master's degrees take two years or less to complete and require 30-60 credits. Cost varies by program, but learners can usually earn the most affordable degrees at public universities where they can pay in-state tuition. Curricula for taxation master's programs vary, but common offerings include fundamentals of taxation, tax research and writing, corporate taxation, and tax procedure.

Why Get a Tax Master's?

You may be asking yourself, "Should I get a master's in taxation?" Only you can answer that question, but earning a master of taxation degree offers expanded career opportunities, solid salaries, and specialized new skills. A master's in taxation also prepares students to apply to law school and become tax attorneys.

What Is Taxation?

Taxation is a subdiscipline of accounting, and individuals specializing in tax matters usually concentrate in areas like individual, partnership, or corporate taxation. Tax professionals help organizations across industries make sense of complicated regulations and laws. Skilled tax accountants can help organizations streamline their financial planning by assisting in their understanding of and compliance with tax obligations.

Jobs available in taxation include tax accountant, certified public accountant (CPA), tax examiner and collector, and financial analyst. Tax professionals find work in nearly every industry; major employers include accounting and tax preparation services, finance and insurance groups, and government organizations. Many tax professionals choose self-employment as well.

People drawn to taxation often demonstrate a knack for numbers, attention to detail, and a strong aptitude for problem-solving. Professionals in this field enjoy opportunities to work in several industries, contribute to the accounting community, and engage in challenging work. The profession is also known for high standards of ethics and integrity.

A master's in taxation helps graduates distinguish themselves from other job applicants and qualify for more specialized, well-paid positions.

Admission Requirements

Admission requirements for master's in taxation programs differ by university but always call for a bachelor's degree at minimum. Requirements rarely ask for an undergraduate degree in any specific field, but applicants can increase their chances if they hold a bachelor's in accounting, finance, or a related discipline. Those without this academic background may need to complete prerequisite foundational courses before enrolling in tax master's classes. Some programs also require relevant professional experience.

Most tax master's programs require applicants to hold a minimum 3.0 GPA and earn satisfactory GRE scores. Prospective students with strong academic backgrounds may receive a GRE waiver in some cases. The graduate application process usually requires learners to submit college transcripts, standardized test scores, letters of recommendation, and a resume. Additional materials may include writing samples, answers to essay questions, and a statement of purpose.

Master's in Tax vs. General Accounting Degrees

Because taxation is a subfield of accounting, general accounting master's degrees and taxation master's degrees are quite similar. A general accounting degree covers a broader curriculum, providing a foundation in advanced theory and practice of accounting.

A master's in taxation focuses primarily on specialized tax theory and practice. It makes sense to earn a tax master's if you know you want a career in taxation. Students who earn a general accounting master's qualify for an expanded assortment of career opportunities.

Tax Concentration Degree Options

Schools offer many types of master's in taxation programs, including an MS in taxation, an MS in accounting with a concentration in taxation, a master of accountancy (MAcc) with a taxation concentration, and a master of laws (LL.M.) in taxation. Below, we compare master's in tax degrees.

• MS in Taxation: This degree emphasizes U.S. tax regulations and codes. Students gain proficiency in general accounting but focus on tax accounting. Graduates work as tax accountants, tax examiners, and CPAs.
• MS in Accounting with a Taxation Concentration: A master of science in accounting with a taxation concentration focuses on general accounting theory and practice. Students take some specialized taxation courses and qualify for careers as CPAs, tax accountants, tax examiners, and general accountants.
• MAcc with a Taxation Concentration: Curricula and career opportunities for these MAcc programs mirror those of MS in accounting programs with taxation concentrations.
• LL.M. in Taxation: A master of law in taxation provides specialized legal training in taxation. LL.M. students may include current lawyers, juris doctor students, and accounting majors. Depending on their academic backgrounds, graduates might work for law firms, accounting companies, or government agencies.

Popular Taxation Courses

Specific curriculum vary by program but usually focus on the fundamentals of tax law, theory, and practice. Students gain an understanding of major tax regulations and U.S. tax code. Most master's in taxation programs require core, elective/concentration, and project/capstone courses. Below, we describe some common master's in taxation courses.

How Much Will a Master's in Tax Cost?

The cost of a master's in taxation varies by school. According to the National Center for Education Statistics, the average graduate tuition and required fees totaled $19,314 as of the 2018-19 academic year.

Factors affecting the price of a master's in taxation include type of school (public or private), program format (online or in person), and tuition rate (in-state or out-of-state). In-state tuition at a public university typically offers the most affordable option. Distance education programs can sometimes save degree-seekers money with tuition discounts and accelerated options.

Prospective learners should consider other costs they may incur during their studies, including textbooks, technology upgrades, housing, and transportation. Master's in taxation programs often provide financing options including scholarships, grants, low-interest loans, and graduate research or teaching assistantships.

Jobs for Master of Taxation Graduates

Prospective students often ask: "What can I do with a master of tax degree?" Potential career paths for graduates include a variety of tax, finance, legal, and business opportunities such as CPA, tax accountant, and tax examiner and collector.

Those who continue their education or enter the program with a law degree, can practice tax law. CPAs need to earn a CPA certification in addition to a degree in order to practice. Below, we describe some typical careers for graduates of master's in law programs, including common job duties, expected salary, and projected occupation growth.

Certified Public Accountant

CPAs help clients with accounting, auditing, and tax issues. They may review client financial information, learn about new government regulations, and prepare documents for internal or external audits. CPAs tend to work more during tax season. Typical employers include government agencies and public accounting firms. Many CPAs opt for self-employment.

Required Education: Master's degree | Average Annual Salary: $69,087

Tax Accountant

Tax accountants earn an average annual salary of over $57,000, but can make even more through commissions, profit sharing, and bonuses. Typical job duties include preparing tax returns, strategizing ideas for reducing tax obligations, and explaining tax regulations to clients.

Required Education: Bachelor's degree | Average Annual Salary: $57,634

Tax Examiners and Collectors, and Revenue Agents

Tax examiners and collectors and revenue agents work on behalf of the government to determine the tax obligations of organizations and individuals. Typical job duties may include conducting audits, examining tax returns, collecting tax payments, and keeping records on cases.

Required Education: Bachelor's degree | Job Outlook (2020-30): -4% | Median Annual Salary: $55,640

Financial Manager

Financial managers often work for investment firms, banks, and insurance companies. These professionals manage the overall financial health of organizations. Job duties may include preparing statements, supervising employees, analyzing market trends, and advising management on financial matters. Financial managers' earnings rank among the highest available to master's in taxation graduates.

Required Education: Master's degree often preferred | Job Outlook (2020-30): +17% | Median Annual Salary: $134,180

Financial Analyst

Financial analysts advise individuals and companies about financial issues. These professionals make investment recommendations, study business trends, write reports, and evaluate opportunities. Financial analyst job categories include fund managers, risk analysts, and portfolio managers.

Required Education: Bachelor's degree | Job Outlook (2020-30): +6% | Median Annual Salary: $83,660

Choosing the Right Taxation Graduate Program

Our rankings list of the best master's in taxation programs is a great place to start, but choosing the right program takes time and research. Below, we explain some additional key factors to consider when selecting the right school for you.

• Accreditation: Attending a regionally accredited college is crucial for your chances of getting financial aid, transferring credits to another institution, and qualifying for professional licensure. Look for schools accredited by an agency recognized by the U.S. Department of Education. Graduate accounting programs also hold separate programmatic accreditation from the Association to Advance Collegiate Schools of Business.
• Cost: To get the best return on investment, find an affordable taxation program that still meets your other priorities. Many colleges offer financial aid opportunities including scholarships, grants, federal student loans, and graduate assistantships.
• Program Length: Most master's in taxation programs take two years to complete. Choosing an online or accelerated degree may allow you to finish in as little as one year.
• University Resources: Research what types of student support your program offers. This may include resources like library access, tutoring, IT help, and career development.

Should You Get Your Tax Master's Online?

Many schools offer master's in taxation degrees online. Earning a tax master's online may offer more convenience for some students, especially those with full-time jobs or family responsibilities. Learners of all kinds increasingly see the appeal of distance education, particularly as the COVID-19 pandemic continues to make in-person learning more tenuous. In addition to convenience and flexibility, online programs may be more affordable. Many schools offer tuition discounts to out-of-state learners pursuing fully online degrees.

Online students may manage to reduce their student loan burden and graduate with less debt by continuing to work while in school. Only you can decide if distance education will work for you. Consider factors like your learning style, expectations of the college experience, and your goals for earning a degree.

Although many people can learn new things by taking online classes, some simply absorb new information better in a face-to-face program. Students who want to participate in a lot of extracurricular activities and engage in campus life may also prefer a traditional in-person degree experience.

The Top Master's in Taxation Programs

California State University, Fullerton and Baruch College offer the top master's in taxation programs. The following ranking provides more information about these degrees. To find out how we rank these and other programs, click the link below.

Master of Taxation Questions