Why Choose a Masters in Taxation?

Personal Statement: Master's In Taxation

It is often said that 'there is nothing certain but death and taxes.' I would beg to disagree with the latter statement. Although the existence of taxes may be a reality, the way in which the tax code and accounting standards will change and take shape is anything but certain. Pursuing a master's in taxation would deepen my knowledge of the tax code and enable me to become more flexible in dealing with the inevitable changes that will occur in the profession and tax policy over the next several decades.

The tax code is in a state of transition, and accountants and other finance professionals must be prepared to cope with issues such as the rise in importance and the use of more philosophically-based International Financial Reporting Standards (IFRS) versus the more technically-oriented Generally Accepted Accounting Principles in (GAAP) in the U.S. The increased concern about corruption and unfair corporate 'tax breaks' means that accountants will be more busy than ever dealing with new legislation, new ethical and professional standards, and the demand to balance the needs of clients with the demands for high standards within the profession. The influence of technology is also fostering new growth in the profession. Persons in the field must be aware of how to use technology to account for the expenditure of organizational resources. Obtaining my master's will give me a needed foundation in the use of IT in tax policy and accounting, and hone my computer skills in general.

At present, I am currently employed in the field of finance. My current line of work spurred an interest in the importance of tax policy and its impact upon the bottom lines of corporations. Obtaining my master's would add to my skill set, and open up opportunities to explore and enter a profession where the need for new talent is growing rather than contracting in the globally-focused economy. My particular areas of present interest include international taxation; corporate taxation; and the benefits of reallocating assets and redesigning corporate structures for different entities (such as C-corporations vs. S-corporations or nonprofits vs. for-profits). While pursuing my degree, I hope to gain greater, in-depth functional skills and knowledge in every area possible, given I may not know where my career path may lead.