If you are planning what will happen after you graduate from law school, you might want to ask yourself the following question. Have you thought about specialization? If you haven’t thought about it, maybe you should.
In fact, you should consider majoring in tax law. Here are 8 reasons why you should choose to become a tax lawyer.
- Tax lawyers are always in demand
Everyone is affected by taxes, whether it is a business or an individual. Whatever happens in the economy, taxes are constant.
Additionally, tax laws can be complex, especially in the midst of tax reform. Therefore, the demand for tax lawyers still exists.
In addition, the more you specialize, the more expertise you gain. It makes your skills even more valuable. Overall, demand offers better job security.
- You will earn a competitive salary
Due to the demand for tax lawyers, you will earn a consistent and competitive salary. For example, according to Payscale, the average base salary for a first-year tax lawyer is $ 85,000. It doesn’t even include bonuses.
In fact, tax lawyers rank among the most competitive types of fee-based law practice. Additionally, salaries for tax lawyers have increased in recent years, according to Indeed.
- You will experience job satisfaction
In addition to a good salary in a demanded area of law, you will also experience job satisfaction. Tax law gives you the opportunity to make a difference. Because of the expertise involved, customers listen to your advice.
Plus, due to the diversity of clients in tax law, you can choose who you want to work with. Working with the clients you choose brings you even more job satisfaction.
- Tax law is influential
Tax law is about more than numbers. Taxes are always a hot topic because taxes affect the economy. Ultimately, people pay attention to the issues that affect their wallets.
Suddenly, by choosing tax law, you choose an area of influence.
- Tax law is a challenge
Tax laws are constantly changing. Along with that, there are so many different pieces in the puzzle. For example, you need to consider federal, state, and local laws.
You need to stay informed about tax laws. The constant need to learn makes tax law difficult. Plus, tax issues require mental agility. If you like a good mental challenge, then tax law is for you.
- You work with different types of people
As a tax lawyer, you will come into contact with different people, such as accountants and financial planners. In addition, you will team up with specialists in niche law such as securities law. In addition, you will be working with various entities.
Being among all these players offers you growth potential. You will have a broad knowledge base on which to draw to deepen your own knowledge.
- Tax law offers even more specialization
There are many areas in which you could specialize in tax law. For example, you can become a litigator. If that’s not for you, you might consider mergers and acquisitions or estate planning.
If you’re looking for something innovative with potential, consider international taxes. With the push of globalization, the demand for international tax lawyers has increased. By specializing in this area, you will increase your sphere of influence and your knowledge base while expanding your expertise internationally.
- Tax law offers a variety of work
In addition to working with different types of people, as a tax lawyer your time will be occupied with different tasks. You can go from research to writing a tax opinion.
Tax law is far from boring
When most people hear about tax law they think it is boring, but they can no longer be wrong. Tax law is a demanding and demanding field that offers job security and a competitive salary. Above all, he offers a fulfilling career with potential for growth and influence.
These are the reasons why you should consider becoming a tax lawyer.