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Guide to Majors
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Guide to College Majors in Taxation
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What is Taxation?
We all have to file taxes and for the most part, we all hate doing it. Having reliable, expert advice can be invaluable, especially when it means saving money on taxes, so you can expect a long and lucrative career if you're considering becoming a taxation specialist. If you have an accounting background, strong computer literacy skills (particularly in spreadsheet preparation software), and good communication and time management skills, you could enjoy a lucrative career. |
As with other specializations in accounting, the taxation major allows professionals to gain expertise and official recognition in this field. Tax accountants prepare federal, state, or local tax returns for individuals or organizations. They use their expertise to recommend changes to reduce their clients' tax burdens. They're responsible for staying up-to-date on all pertinent aspects of the U.S. Internal Revenue Code and annual changes.
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Guide to College Majors in Taxation
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What is Taxation?
We all have to file taxes and for the most part, we all hate doing it. Having reliable, expert advice can be invaluable, especially when it means saving money on taxes, so you can expect a long and lucrative career if you're considering becoming a taxation specialist. If you have an accounting background, strong computer literacy skills (particularly in spreadsheet preparation software), and good communication and time management skills, you could enjoy a lucrative career. |
As with other specializations in accounting, the taxation major allows professionals to gain expertise and official recognition in this field. Tax accountants prepare federal, state, or local tax returns for individuals or organizations. They use their expertise to recommend changes to reduce their clients' tax burdens. They're responsible for staying up-to-date on all pertinent aspects of the U.S. Internal Revenue Code and annual changes.
It's one of the most intricate fields of accounting, so practitioners will generally focus on one branch such as corporate, property, sales and use, or individual taxes. A taxation degree can also lead to a career on the collections side of taxes, working for governmental agencies like the IRS. The salary range for a tax professional is determined by their experience and the size of the firm they work for, but a salary range of $61,000 to $112,000 is common for corporate tax managers in the U.S.
Career Education in Taxation
On-Campus and Online College Courses
The minimum educational requirement for a tax accountant is a bachelor's degree in accounting, finance, or a related field. As competition for the best jobs gets more intense, a master's degree and CPA certification is more commonly preferred. An associate's degree in accounting may be accepted for clerical and junior tax examiner positions in state and local governments in smaller markets. Online degrees in accounting and taxation have become increasingly popular as working professionals seek to boost their resumes without putting their careers on hold.
What can you do with a College Major in Taxation?
Taxation and Accounting Career Options
A college degree in taxation allows you to work on the payer or payee side of the field, for individuals or groups, and for any level of government and internationally.
Tax accountants and tax advisors work on behalf of an individual or group to fulfill tax obligations and minimize the amount of income remitted. Tax examiners, collectors, and revenue agents work for the government to obtain revenues by reviewing tax returns, conducting audits, and facilitating the collection of tax dollars. The level of education an individual obtains will determine their career and advancement options.
As the tax code continues to change, continuing education and on-the-job training are expected within the taxation field. You can move into management or in the case of revenue agents, you can specialize into areas such as criminal activity audits and international tax assessments. This branch of tax accounting is expected to have a slower than average growth in the next 10 years due to technological improvements, so the best way to advance is to ensure you're at the top of your game, academically and professionally.
Explore Related Career Pathways
- Accounting and Auditing
- Financial Management
- Bookkeeping
- Law
Certification and Licensure
Professional certification is recommended for a taxation degree graduate as a way to demonstrate your proficiency and status in the field. It is often done in conjunction with graduate studies.
Many employers prefer that you have a Certified Public Accountant (CPA) license. To become a CPA, you must complete 150 credit hours of college-level education (which translates to about 5 years of undergraduate and graduate work), pass all four parts of the Uniform Certified Public Accountants Exam, and have about two years of accounting experience.
Other designations include the Accreditation Council for Accountancy and Taxation's Accredited Tax Advisor, Accredited Tax Preparer, Accredited Tax Advisor, and International Accredited Business Accountant designations (with the successful completion of the ACAT exam), and the Certified Member of the Institute (CMI) from the Institute for Professionals in Taxation (IPT).
Explore Related Degree Programs
- Online Degrees in Taxation
- Online Degrees in Economics
- Online Degrees in Financial Planning
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Pursue your Taxation major today.
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Virginia College
Earn your associate's, bachelor's or master's degree from Virginia College. Our extensive programs are offered 100% online, so you can launch the career of your choice from the comfort of your own home.
Learn more about programs at Virginia College.
Designed for entry-level accounting and business professionals, this associate degree program prepares you for jobs such as:
- Accounting clerk
- Accounts payable/receivable specialist
- Personal income tax clerk
- Collection clerks
- Professional bookkeepers
Looking for a job in the fast-growing accounting industry? Graduates of VC Online's Bachelor of Science in Private Sector Accounting will be qualified for private-industry jobs in financial, cost, or budget accounting.
Virginia College is a senior college accredited by the Accrediting Council for Independent Colleges and Schools to award certificates, diplomas, associate's, bachelor's, and master's degrees. The Accrediting Council for Independent Colleges and Schools is listed as a nationally recognized accrediting agency by the United States Department of Education and is recognized by the Council for Higher Education Accreditation.
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Strayer University
Get the right foundation for your future with a degree from Strayer University. Evening, weekend and online classes are all available to meet the needs of busy adults.
Learn more about programs at Strayer University.
The Associate of Arts in Accounting can prepare you for an entry-level job as a bookkeeper, payroll clerk and more.
The Bachelor of Science in Accounting is designed to provide a fundamental introduction to the field, and to qualify students for entry-level accounting positions.
If you already hold a relevant bachelor's degree, this diploma program in accounting can help prepare you to sit for the CPA exam.
If you already hold a bachelor's degree, you can build the industry-specific knowledge and skills you need for an accounting career with this accelerated certificate program.
The accounting information systems certificate provides fast-paced, career-focused coursework to the experienced accountant who wants to update his or her skills for the Information Age.
Already have a bachelor's degree? Strayer's accounting certificate in taxation can help you build the specialized skills you need to move into the complex world of tax accounting.
The MBA program offers a broad-based education, with a choice of concentrations. The program features a curriculum that prepares adult students for the emerging knowledge economy while emphasizing the latest concepts, practices, and skills in today?s rapidly changing marketplace. It is designed for working professionals from a wide range of backgrounds who wish to advance or enhance their business careers.
This program offers specializations in the following areas: Accounting, Acquisition, Finance, Health Services Administration, Hospitality and Tourism Management, Human Resource Management, Information Systems Management, International Business, Management, Marketing, Professional Studies, Project Management, and Public Administration.
*Programs may vary by state and by campus
The MSPC in accounting information systems offers advanced, industry-specific training to aspiring accountants in the public and private sectors.
The MSPA in controllership offers extensive academic preparation for students seeking certification in public accounting (CPA) or management accounting (CMA).
The primary objective of the Master of Science in Accounting (MSAC) is to provide specialized, graduate level education to persons seeking positions as professional accountants in industry, government, and non-profit organizations. In addition, the MSAC program offers graduates much of the academic background necessary to pursue certification in public accounting (CPA) and management accounting (CMA).
This program offers specializations that allow students to tailor their degrees to fit their careers and learning goals. It is an exciting educational option for students looking to increase their understanding, advance their careers, and expand their opportunities in the following areas: Accounting Information Systems, Controllership, Public Accounting (CPA Exam Prep), and Taxation.
* This program was formerly called the Master of Science in Professional Accounting. No curriculum changes were associated with this name change.
*Programs may vary by state and by campus
The MSPA in taxation tailors students' coursework to help them meet their goals of a career in tax accounting.
Enjoy Strayer University's distinctive blend of theoretical learning and hands-on experience with this introductory undergraduate certificate in accounting.
Strayer's Undergraduate Certificate in Introductory Accounting covers the fundamentals of the field, for students looking for a new or better career path.
Strayer University is accredited by the Middle States Commission on Higher Education
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