The Master of Science in Taxation (MST) Program prepares students to become successful tax professionals in public accounting, the corporate sector, or government. Graduates of the MST Program will have competence in accounting, a sound understanding of tax issues in a global environment, and an ability to apply this knowledge effectively in tax planning and problem solving situations. They will also have strong communication and research skills and a keen appreciation of the ethical standards of professional practice. The Suffolk MST distinguishes itself from other programs by assuring student competence in three key areas of tax practice: tax compliance, tax planning, and tax policy.
The MST program consists of up to thirteen courses: three accounting preparation courses, seven taxation core courses, and three elective courses.
3.00
Explores the structure and information content of the three principal financial statements of profit-directed companies, namely the income statement, balance sheet, and statement of cash flows. Students learn skills in how to use accounting information to analyze the performance and financial condition of a company, facilitate decision-making, planning and budgeting, and performance appraisal in a managerial context. Students with no prior background in accounting complete a programmed instruction in the mechanics of double entry accounting at the start of the course.
MBA & Global MBA Core
MBA 640
3.00
Students learn the practice of financial accounting and reporting under USGAAP. They explore the measurement and reporting of various asset, liability, and equity accounts; measurement and reporting of revenue, expense and net income; and the presentation and interpretation of financial statements. Pronouncements of authoritative sources such as the SEC, AICPA and the FASB are also studied. Reference is made to accounting practices in other countries and to pronouncements by the IASB.
MBA Accounting
ACCT 801 or permission of instructor
3.00
Continues the treatment of financial accounting and reporting from ACCT 801. Students learn the US GAAP accounting treatment of corporate securities and derivative contracts, treasury stock, contingent and recognized liabilities - including post-retirement benefits, bonds and leases, and the allocation of corporate tax expense. Accounting for inflation and changing prices are also discussed.
MBA Accounting
3.00
This first course in taxation concentrates on the federal income taxation of individuals with some discussion of business taxation. The objective of the course is to explore the basic structure of individual income taxation, including the individual tax formula, income, deductions and credits and an introduction to property transactions. A major emphasis is placed on how tax laws affect everyday personal and business decisions.
MBA Tax
3.00
Tax research methods, including identifying and defining tax questions, locating appropriate authority, and interpreting statutes, cases and rulings. Effective communication of research findings and recommendations, and proper administration, ethics and responsibilities of tax practice are emphasized in this course.
MBA Tax
TAX 801 and TAX 861
3.00
Concepts, principles and practices of taxation of corporations and their shareholders. The effects of taxation on corporate formation, capital structures, distribution and liquidation are covered.
MBA Tax
TAX 801 and TAX 861
3.00
Concepts, principles and practices of taxation of partnerships and S-corporations, including the use of pass-through entities for tax planning.
MBA Tax
TAX 801 and TAX 861
3.00
Strategies of tax practice before the Internal Revenue Service. Topics covered include tax deficiencies, assessments, claims for refunds, rulings, statutes of limitation, and penalties.
MBA Tax
TAX 801 and TAX 861
3.00
Concepts, principles and practices of taxation of decedents estates, trusts and lifetime gifts. Topics covered include valuation of property subject to estate and gift taxes, and the use of trusts for tax planning.
MBA Tax
4 TAX prefix courses, including Tax 801 and 861
3.00
Policy considerations in the development of proposed tax legislation are covered. Tax policy issues are examined in relation to empirical, political and legal studies. Throughout the course the tax legislative process is explored.
MBA Tax
TAX 801
3.00
Further consideration of tax issues as they affect the sole proprietor, including the Alternative Minimum Tax, nontaxable exchanges, basis rules and passive activities.
MBA Tax
TAX 801 and TAX 861
3.00
U.S. taxation of foreign sources of income. Topics covered include analysis of tax treaties, source of income rules, foreign tax credit, controlled foreign corporations, Foreign Sales Corporations, transfer pricing in multinational corporations, and translations of foreign currencies.
MBA International Business,MBA Tax
TAX 801 and TAX 861
3.00
The interrelationships between the federal and state taxation systems are covered. Problems such as revenue generation and residency issues are examined. Using federal adjusted gross income as a focal point, and its effect on state revenues, excise taxes, general sales taxes and inheritance taxes are studied.
MBA Tax
TAX 862
3.00
Tax-free and taxable acquisitions/reorganizations in relation to various acquisitive and reorganizational transactions are examined as well as consolidated returns. Topics covered include continuity of enterprise and interest issues in conjunction with the tax treatment accorded a transaction as well as carryover, basis and compliance provisions.
MBA Tax
TAX 801 and TAX 861
3.00
Topics covered include use of living trusts, joint ownership, life insurance, charitable dispositions, inter vivos gifts, and the marital deduction. Problem areas discussed include the valuation and disposition of closely held businesses. Students participate in class discussions and are required to submit a written estate plan for a hypothetical client.
MBA Tax
TAX 801 and TAX 861
3.00
Concepts, principles and practices of income taxation of decedents estates and trusts. Topics covered include grantor trusts, charitable trusts and income in respect of a decedent.
MBA Tax
TAX 801 and TAX 861
3.00
Tax and non-tax issues are studied in the formation of tax exempt organizations. Feeder organizations and unrelated business taxable income are covered in depth. Other topics covered include loss of tax exempt status and ceiling limitations on gift giving.
MBA Tax
TAX 801 and TAX 861
3.00
Topics covered include legal, economic, cash flow, tax, investment and insurance ramifications of life and death. Emphasizes tools and techniques necessary to maximize benefits generated from net worth, cash flow and employment and minimize the loss resulting from unforeseen contingencies, death and retirement. Students participate in class discussions and are required to submit a written financial plan for a hypothetical client.
MBA Tax
1.00- 3.00
Independent study in Taxation
MBA Tax
Or any other 800-level course offered in the Sawyer Business School, with the approval of the Director of Graduate Programs in Taxation.
Students with appropriate academic business backgrounds may be eligible to waive some or all of the accounting preparation courses. Upon receipt of an application, all transcripts will be reviewed for waiver status. Applicants will be automatically notified of their waiver standing upon acceptance into the program.
Preparation courses that are not waived may be satisfied by taking specified MBA and ACCT course offerings. These courses may be taken upon enrollment in the Graduate Programs in Taxation at Suffolk.
Students in the Graduate Programs in Taxation are assigned Professor James Angelini, Academic Director of the MST Program, as their academic advisor. Students are encouraged to discuss their academic interests and goals with Professor Angelini especially when choosing elective courses.
In addition to this, the Graduate Programs in Taxation Office is available to respond to any questions or concerns. The Graduate Programs in Taxation Office can be reached at 617.573.8641 or mst@suffolk.edu.
