Anyone have a Master of Taxation? or MACC?

[DisneyLover83]

I graduate with a BS Accounting in December and I am interested in a MSTax but wondering why so few people get this degree? My advisor told me that less than 8% of Master's degrees awarded nationwide are in Tax compared to the 30ish % in MACC. Does anyone have any insight or personal experience that they would be willing to share about either program?

 

[DisneyLover83]

Bump? anyone? Maybe I'll ask again after Tax season

 

[GoofyforDisney3]

I wonder if it is because so many people are just getting an MBA? Any time someone hears me saying I want a MAcc I'm asked why I just don't get an MBA instead. I always tell them because I'm not interested in just business. I'm interested in accounting. Not sure they understand, but oh well.

 

[DisneyLover83]

Thanks for responding! I agree that the MBA track is much more popular but not for me either!

 

[puffkin]

I can tell you that the thing everyone looks for is the CPA. Get that and you are golden. Then if tax is a field you want to pursue further go back and get that degree. But the CPA is what everyone cares about most!

 

[DisneyCowgirl]

I think it's because tax scares people. When I entered the accounting profession, most people were going into the audit side and were just amazed that anyone would want to go into tax.

Here in Texas people do a 5-year program that results in a Masters of Accounting degree. I don't think you get a choice to make it tax-specific.

 

[DisneyLover83]

I am planning to get the CPA but you need 150 credit hours to sit for the exam and I will only have 120 hours with my BS so I am going to get a Master's degree so I have that requirement fulfilled rather than just taking 30 more hours of undergrad that will not "get" me anything Not many schools offer the MSTax, I think about 70 to 80 schools nationwide offer it.

 

[JennM]

When I was finishing my undergraduate degree in accounting, Mississippi was just moving to the 150-hour requirement to sit for the CPA exam. So most of my classmates continued on to either the MAcc or MTax program to earn those additional hours plus a graduate degree. A few went to the MBA program, but they weren't as passionate about accounting as the rest of us.

I chose the MAcc because tax did not interest me and I had already secured a job on the audit staff of a Big 6 firm (well, at the time, it was! ). But I currently work for the same company as one of my college classmates who earned her MTax - she's an assistant controller and I'm director of financial reporting. In my personal experience, having a graduate degree (regardless of whether it's MAcc, MTax, or MBA) and the CPA designation will provide you opportunities in many different career paths.

Best of luck to you!

 

[Mrs.Toad]

It depends on what area you want to pursue. If you want to specialize in tax work, get the MBT, you will learn a lot about tax law, how to do research, etc. Of course, my perspective is that of a tax person. The more generalized knowledge gained from the MAcc might be better for someone who doesn't want to specialize.

Having worked in tax for 18 years, from Big 8/6/4 firms to local and private industry, I can tell you a master's in tax is a big plus from a hiring perspective. MBA and MAcc, not so much. (I'm talking about hiring directly into the tax department. Similarly, the others would likely be more desirable hiring into audit, accounting or finance functions.)

Good luck!

 

[puffkin]

I am planning to get the CPA but you need 150 credit hours to sit for the exam and I will only have 120 hours with my BS so I am going to get a Master's degree so I have that requirement fulfilled rather than just taking 30 more hours of undergrad that will not "get" me anything Not many schools offer the MSTax, I think about 70 to 80 schools nationwide offer it.

Have you done any tax internships (not talking just individual but with strong corporate tax work as well)? It really is a unique field to work in and many may think they like it and find out once they do the work that it isn't for them. I just would hate for you to get the MsT and then find tax isn't for you b/c then a MAcc would be a better fit.