Posted: 12 Sep 2009 at 22:11 | IP Logged
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I don't know about the value of getting an MST. Certainly the knowledge would be valuable, but there are more economical ways to obtain the knowledge, for example, through CPE that all CPAs and EAs are required to do to keep their licenses, or through self study. I'm not a big fan of going back to school. I believe in taking employer-reimbursed CPE and doing self study when possible, due to the outrageous cost of tuition and the onerous time commitment of going back to school. I also learned quite a bit about tax, entirely through self study of materials I was able to obtain for free, when I studied for the EA exam.
However, if your employer reimburses you for tuition as my current employer apparently does, it might be worth looking into. My last employer did not, but they expected me to get an accounting degree so that I could take the CPA exam and get the license. To pay for school, I had to work full time and live like a poor student. And to make it through school and the CPA exam, I also had to give up any semblance of a social life for the last 3 years. It's taken a toll on me. I recently started sprouting gray hairs as well. :-( I think I will need to study stress management or something after the CPA exam.
If you are interested in tax and are looking for another worthwhile credential, and if you want to do a lot of representation work, there is an exam you can take to get admitted to practice in Tax Court. The exam is supposedly very tough and requires deep tax knowledge, as well as knowledge of Tax Court procedures. I might look into this some time in the future.
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