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Power Your Career with a Tax Focus Tax experts are consistently in demand for their knowledge and confidence in navigating a constantly changing and increasingly complex environment. Specializing in tax accountancy means gaining skills in tax planning and insight into the tax consequences of business and personal transactions. Whether your long-term goal is to work for a Big 4 accounting firm or set up shop as an independent tax accountant, our Tax Track will provide you with the context you need to launch a career in this specialized field.

In the Tax Track, we will help you get ready for a career where you will perform tax advising and compliance for corporations, partnerships, estates, nonprofits, and individuals. You will learn how to navigate local, state, and federal tax codes and how they affect a myriad of financial decisions.

You will take classes designed to expose you to the intricacies of the tax industry with coursework that provides experience in tax research and communications, federal, state and local taxation, income tax accounting, and international tax considerations.

Considering The Tax Track? Here’s what you should know.

The Tax Track is ideal for the individual who enjoys research and problem-solving. A career in tax may either involve working directly with individual and business clients or working in a corporate setting managing taxes for a company. In this career, your overarching mission would be to help your clients, whether businesses or individuals, to make sure they are optimally structuring transactions and meeting their legal obligations. You will have responsibilities such as researching the application of new and existing tax laws, advising on the tax implications of business decisions, recommending tax strategies, preparing and reviewing financial statement tax disclosures, filing tax forms, and communicating with tax agencies and clients. For this reason, a tax professional is ideally creative, detail-oriented, efficient, analytical, and skilled with research and communications.

Program Details

To earn an MS in Accounting with a track in Tax, you must complete the MS in Accounting core curriculum and fifteen additional credits of track-specific coursework.

The curriculum is subject to change by D’Amore-McKim faculty. Please monitor for updates.

Required MS in Accounting Tax Track Courses Details

Accounting Research and Communication

Requires students to research and analyze auditing issues by using quantitative and/or qualitative research methods. Offers students an opportunity to learn how to more effectively communicate those findings in a professional format.

3 credits

Details

Corporations and Shareholders

Provides an in-depth study of the tax issues related to the corporate form and the corresponding tax implications for its shareholders. Given the importance of corporations in the federal income tax system, an understanding of the tax issues related to this type of business is essential for tax professionals. Topics include capital formation and structure, the operations of the corporation, distributions, dividends and redemptions, sales and liquidations, and taxable and tax-free reorganizations.

3 credits

Details

Partners and Partnerships

Provides an in-depth study of the tax issues related to one of the central flow-through entities, the partnership. The increasing popularity of flow-through entities as an organizational form has made an understanding of the tax issues related to this type of entity an important area of study for tax professionals. Topics include capital formation, operations, transactions between the partner and the partnership, distributions, sales of partnership interests, and liquidation of the partnership.

3 credits

Details

Complete 6 credit hours from the following:

Elective MS in Accounting Tax Track Courses Details

Income Taxation of Trusts and Estates

Examines the general rules for the taxation of estates and trusts. Topics include trusts that distribute current income only, grantor trusts, irrevocable trusts, charitable vehicles, income in respect of a decedent, estates and trusts that may accumulate income or may distribute corpus, and treatments of excess distributions and beneficiaries.

3 credits

Details

International Taxation: Inbound Transactions

Addresses the taxation of foreign individuals or corporations receiving income from sources, or conducting business, in the United States. With the globalization of the economy, a greater number of taxpayers must consider the impact of international taxation. Topics include the sourcing of income, taxation of passive income, taxation of income connected to a U.S. trade or business, branch-level taxes, issues of foreign-owned U.S. corporations, income tax treaties, and transfer pricing.

3 credits

Details

Retirement Plans

Examines employee benefit plans including requirements for qualification, funding, coverage, and distribution requirements. Discusses a variety of plans including pension, profit-sharing, CODAs, IRAs, SEPs, TSAs, and stock plans.

3 credits

Details

State and Local Taxation

Addresses the most common types of taxes imposed by state and local governments. Examines state and local income, sales, excise, property, and city taxes. Emphasis is on the underlying principles governing the application of each type of tax and the interrelationships where they exist.

3 credits

Details

Is the MS in Accounting Right For You?

If you're ready to elevate your accounting skills on your path toward becoming a CPA, the answer is yes. If you’re looking for a graduate program with a focus on experiential learning, the answer is yes. If you want to join an alumni network with a strong presence at top accounting firms, now is the time to advance your career with our MS in Accounting program.

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