The tax accounting landscape in the United States is undergoing a significant shift, driven by rapid advancements in technology. Tools like automation, cloud computing, and AI are transforming traditional accounting practices, making processes faster and more efficient. This digital shift has sparked increased demand for professionals skilled in both tax and technology. Reflecting this trend, accountants in the U.S. earn a competitive average base salary of around USD 66,196 annually.
This blog will discuss the key tax tech skills that students will gain from an MSA student for a future-ready career. It will also describe how learning these skills can enhance their career prospects.
Take your skills to the next level — Explore MS in Accountancy Online
Key Tax Tech Skills MSA Students Gain for a Future-Ready Career
MSA students who focus on tax technology can gain crucial skills that make them future-ready for the most lucrative careers by becoming proficient in areas such as data analytics, tax software, and automation.
| Core Areas | Specific Skills and Areas |
| Tax Accounting Software |
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| Data Visualization and Analytics |
|
| Tax Regulations and Laws |
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| AI and Robotics Process Automation (RPA) |
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| Cloud Computing |
|
Tax Accounting Software
MSA students can become experts in various types of tax accounting software. By learning these platforms, students prepare to handle complex returns, reduce errors, and automate compliance processes through the built-in regulatory updates in these platforms. Here, students also practice scenario-based exercises that simulate real-world tax advisory and filing tasks.
Data Visualization and Analytics
Data visualization and analytics are key tech skills for accountants to possess in today’s digital landscape. MSA programs train students to extract insights by utilizing various platforms that enable accountants to interpret vast datasets and transform raw numbers into explicit, visual representations, making informed decisions easier for those in authority.
Tax Regulations and Laws
MSA students must have a strong foundation in tax laws as they form the core of their work, and for this, they must delve deep into both international and national tax regulations. In these courses, students learn how to interpret statutes, stay current with evolving laws, and apply rules to complex cases. They also learn how to utilize digital tools, such as Checkpoint Edge and Bloomberg Tax, to assist with legal research.
AI and Robotics Process Automation (RPA)
In the MSA programs, students also acquire AI and RPA skills, which are essential tax tech skills in the contemporary era. By learning how to use bots to automate regular tasks, they get to free themselves up for more strategic work. They also learn how to use tools like Alteryx and UiPath to integrate AI-powered systems into workflows and design simple bots that help them with their work.
Cloud Computing
Tax departments these days depend increasingly on cloud-based platforms for benefits like security, real-time access, and scalability. In this context, students learn the ways to manage data securely, ensure compliance in multi-jurisdictional environments, and collaborate remotely on returns. Cloud platforms are also central to digital tax operations as they support AI, automation, and data analytics.
Also Read: How to Land a Tax Compliance Role at a Big 4 Accounting Firm
How Tax Tech Skills Enhance Career Prospects
Learning tech skills related to taxation can help professionals significantly by aligning them with the evolving demands of the digital finance industry. Being proficient in tools such as Excel, data analytics platforms, Power BI, and AI-powered tax software enables accountants to streamline compliance, provide strategic insights, and enhance accuracy.
Firms that seek innovation and efficiency in their tax operations are increasingly valuing these qualities. Now that automation is transforming routine tasks, professionals who have mastered technology can change to advisory roles with higher value. For employers, tech-savvy experts are future-ready assets, which makes them strong contenders for leadership roles as well.
Also Read: How to Conduct an IT Audit for Accountant?
Edgewood University MSA Programs Build the Right Blend of Tech and Tax Expertise
The Master of Science in Accountancy Online programs offered by Edgewood University are excellent options for students seeking to acquire technical skills. These programs enhance their skills in tax accounting, one of the most in-demand sectors of accounting worldwide today. Studying these programs helps them become successful quickly as well.
- Master of Science in Accountancy in Business Analysis and Reporting Online
- Master of Science in Accountancy in Tax Compliance and Strategy Online
- Master of Science in Accountancy in Information Systems and Controls Online
FAQs on Tax Tech Skills You’ll Learn in MSA Programs
Q: What are tax tech skills, and why are they important in accounting today?
Ans: Tax tech skills encompass specialized abilities and knowledge necessary for enhanced efficiency, strategic insights, and accuracy in tax planning and compliance.
Q: How does an MSA program help develop data analysis skills?
Ans: MSA programs combine practical application and theoretical knowledge to offer students a structured approach to developing data analysis competencies.
Q: Do MSA students need a background in programming to learn tax tech tools?
Ans: No, MSA students do not necessarily need a background in programming to learn tax tech tools, but it can be beneficial for them nonetheless.
Q: How do tech skills influence tax advisory or consulting roles?
Ans: Tech skills are changing tax consulting and advisory roles by enhancing insights, increasing efficiency, and enabling professionals to deliver strategic services of the highest value.
Q: What certifications complement tax technology skills?
Ans: Certifications such as the Chartered Tax Professional certification and the Diploma in Tax Technology complement the tax technology skills a candidate possesses.
