A bachelors degree in taxation is ideal for students who enjoy working with numbers, resolving financial issues, and communicating with others. Tax accounting is a complex job that involves recording, summarizing, and reporting financial transactions that take place in businesses and households. A typical bachelor’s degree program in this discipline will cover an array of subjects, such as basic accounting, tax preparation, auditing, bookkeeping, payroll management, finance, statistics, and more. Because tax accounting involves a great deal of math, bookkeeping, and financial analysis, students who pursue an accounting specialization in taxation should be competent in these areas.
Why a Bachelor’s Degree?
A prosperous career in tax accounting starts with an undergraduate degree. In fact, working as a tax accountant without a college education is quite rare. That’s why obtaining a bachelor’s degree or master’s degree in tax accounting is a reliable avenue, especially for those who desire more advanced and specialized positions in their careers. The U.S. Bureau of Labor Statistics (BLS) cites that the majority of tax accounting jobs require at least a four-year degree, and some even require a master’s degree in general accounting. Additionally, all accounting certification exams (like the CPA exam) require students to have at least an undergraduate degree before testing for certification.
Getting Into a Bachelor’s Degree Program
Most programs required the following materials. However, admissions requirements do vary from school to school:
- High school diploma with minimum required GPA
- High SAT or ACT scores, especially in Math and Science
Inside a Tax Accounting Bachelor’s Degree Program
A tax accounting degree requires four years of full-time course work to complete. After a student successfully completes their liberal arts undergraduate courses, they will be allowed to move on to numerous tax accounting courses. The majority of tax accounting degree programs feature lessons in tax planning, taxation of businesses, individual taxation, and research in taxation. During their studies, may seek real-world experience in the form of part-time jobs or internships.
Tax accounting students often chose to study at online schools. Students who enroll in an online degree in tax accounting generally follow a course load similar to that of traditional students, but their class scheduling is usually more flexible. Online classes are presented through detailed, easy-to-follow video lectures, audio recordings, and class readings
What’s Next for Tax Accounting Bachelor’s Degree Holders?
Once a student has graduated from a tax accounting degree program, they’ll be able to attain an array of accounting jobs. Though they are qualified to work in any number of positions, most tax accounting graduates choose to become tax accountants. According to the BLS, tax accountants can expect to earn a little over $70,000 a year. The BLS further emphasizes that tax accountant and auditor positions are expected to increase by 16% over the next few years.
Since the Certified Public Account (CPA) exam requires students to have at least 150 college credit hours before seeking certification, most students choose to obtain a master’s degree in tax accounting to qualify for this exam. For those who are interested in teaching and research, it’s worth noting that there are numerous Ph.D. programs in accounting to consider as well.