No one likes to pay taxes. In the past, those entering the workforce have feared the tax collector job title. In today’s world, however, getting an education in taxation is actually a very solid career choice.
Options for Your Career
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When choosing an educational path, it’s important to keep your options open. Studying something too specific may give you only a few choices. On the other hand, pursuing a course of study that’s too general may not give potential employers enough to go on when searching for the perfect candidate.
Studying taxation gives you options for your career. You can assure employers that you have the particular knowledge you need to do the job right in your field while giving yourself the chance to choose the job that’s right for you. From a certified public account and financial advisor to chief financial officer and tax lawyer, you’ll have many career options once you get an education in taxation.
Educational Choices to Fit Your Needs
Once you’ve decided to go down this path, there are various educational opportunities open to you. Keeping in mind a future career, choose the option for education that best suits your future goals and current potential to commit to school.
One option is pursuing a Masters in taxation. This type of degree highlights taxes on the local, state, and federal levels. Graduates who have either a Masters or MBA in taxation are able to give tax advice to individuals or organizations. They can also work for state departments of revenue or the IRS. Yet another option is to get a JD in tax law to work as a lawyer in this field.
For auditors and accountants, the future looks bright. The number of people employed at these jobs should increase between 2012 and 2022 by 13 percent, according to the U.S. Bureau of Labor Statistics. And the median salary for accountants and auditors was $65,080 in 2013.
While this shows great potential, financial advisors may have it even better. In the same years, these professionals could have a 27 percent increase in job opportunities. As of 2013, the median salary was $75,320. And for CFOs, that figure was $117,415.
Better Understanding of Finance and Government
The benefits of pursuing an education in taxation go beyond exciting job opportunities and high salaries, though. If you’re thinking about going into a career that’s affiliated with tax law, you’ll likely need to know the intricacies of U.S. state and federal taxes. This goes for all the possible career choices. In addition to giving you knowledge to guide your own finances, this will allow you to work with individuals, corporations, or anyone (like small businesses or nonprofits) in between.
Studying taxation not only leads to a high salary and steady job, but it will give you a better understanding of finance and government. This type of education is a great choice for a variety of careers and educational paths. You’ll have a chance to work with different groups of people and apply your knowledge to your own life.