I'm a 1st yr at U of FL and I'm thinking about doing tax law. I have a few questions regarding this:

1. First, is this a good field to get into? What kind of money do they make (not that I'm in it for just the money or anything...serious)? Do people find this work interesting at all? I've heard that they can get into M&A or private equity and things like that as well.

2. I was thinking about getting a CPA/JD. How much would this help my career, and does anyone have a list of JD/MAcc programs? I know Florida has one, but how important is it that I go to a T14 law school to have a good career in tax law?

thanks.

Salaries range drastically among tax attorneys. If money is the focus then you definitely want to do M&A or private equity.

You can get a JD/MBA from a law school, but in order to get your CPA licenses, you need an accounting degree, which is now a 5 year commitment. In addition, you will need work experience in order to get your CPA licenses. I think the combination is valuable, but it will require time and experience. What is your undergrad major?

Also, getting a finance MBA, can be just as good as an CPA

Speaking from experience, i would recommend the JD/CPA if possible. The CPA tends to transend practice lines and provides you with the technically knowledge and skills to practice in any area of tax, corporate, estate planning, or M&A.

If your goal is to make money, then you have a lot of options. There are attorneys that do estate planning or corporate law and make upwards of $400k. However, M&A is only area of tax where if you have contacts, can bring in large clients, you may be able to earn a 7 digit income.

Miami LS, i appreciate your comments. I has been preparing for a private banking career and dealing with wealth management. What are your thoughts about that area of tax law. Based on my research, wealth management opens up into international business and finance, and I find that area of law very exciting.

Thanks in advance.

Can someone provide more details about M&A and how to break into that section of law? Specifically, what skills, classes, education should i have before i even apply for M&A?

Most people in started in M&A with a finance back ground and work as an analyst and then progress up the food chain by working long hours crunching numbers, preparing spreadsheets and powerpoint presentations, and getting an MBA or law degree. Most of the money made in M&A come from high level executives landing big clients for the firm and then they can get commission for what they originate as revenue for the firm. Usually the revenue is large, so the commissions are also large.

I think M&A is part about knowledge and experience and a lot about relationships, connections, and ability to turn something out of nothing. Its sounds easier to accomplish that it really is.