Finance Diploma in Income Tax Planning and Consulting
Tax consultants use their knowledge of tax legislation to provide advisory and consultancy services to clients, ensuring that they pay their taxes in the most efficient way and benefit from any tax advantages and exemptions. Tax advisers need to keep up to date with changing tax laws and to communicate complicated legislation and its implications to their clients in simple terms. Tax consultants’ clients can include large and small companies, partnerships, trusts, and individuals.
The work is detailed and complex, and tax advisers require expert knowledge in areas such as:
- Corporate tax
- International and inheritance tax
- Personal tax
- Trusts and estates
The Diploma in Income Tax Planning and Consulting has been designed to prepare students for what income tax practitioners face every day—from income generation to account preservation—through a curriculum that covers the full spectrum of work performed, including planning, compliance, and audit defense.
The Diploma is ideal for those who want to discover the current income tax regulations and their impact on individuals, couples, families, and businesses. In addition, students gain sophisticated knowledge about income, tax credits, itemized deductions, LLCs, and S corporations. Course work provides the substantive fundamentals of income tax law by focusing on individuals, as well as the two most common forms of business entity taxpayers, and then applying the foundational principles of tax law to specialized areas. The Diploma is ideal for financial services professionals who want to provide tax management services.
The curriculum for the Diploma in Income Tax Planning and Consulting comprises six required courses, totaling 186 hours of instruction. It imparts an intermediate level of expertise that encompasses both theoretical and practical aspects of federal income taxation, including:
- Researching, analyzing, and interpreting changing tax legislation
- Preparing and submitting tax returns
- Liaising and negotiating with clients and providing consultancy services
- Creating tax strategies for clients and planning their financial futures
- Carrying out detailed computations to calculate tax liability and advising on how to minimize a client’s liability
- Establishing and structuring family trusts, conducting estate planning, and advising
- Producing reports and presentations for clients
Schedule and Format
- Classroom-based, with online options available for some courses
- Six noncredit courses
- On average, students take one course per semester, fall/spring/summer
- The Diploma must be completed within three years
The Diploma is awarded to students who successfully complete the six required courses within three years.
For additional information, or if you have any questions, please contact the Division of Programs in Business at firstname.lastname@example.org.
Must be completed within
You'll Walk Away With
- An understanding of the legislative, regulatory, and judicial sources of tax law, as well as their relative merits and applications
- Confidence in identifying and resolving substantive income tax problems
- Sound technique in income tax accounting and reporting
- An overview of the basic principles and laws of income taxation for individuals, employees, and business owners
- Working knowledge of compliance, accounting methods, taxation of trusts and estates, depreciation, sale of assets, alternative minimum tax, charitable contributions, and tax management