Top 11 Tax Manager Certifications

Certifications are important for a tax manager in the job market because they demonstrate a level of expertise and knowledge in the field. Employers look for candidates who have the necessary qualifications and certifications to ensure that their business is being handled correctly. Having certifications such as Certified Public Accountant (CPA), Certified Tax Advisor (CTA) or Certified Valuation Analyst (CVA) shows potential employers that you are knowledgeable and experienced in tax management, which can lead to better job opportunities. Additionally, having these certifications will make you more competitive in the job market and can help you stand out from other candidates.

This article reviews some of the top certifications for Tax Managers and explains how they can contribute to a tax manager's career by providing additional knowledge and credentials.

What are Tax Manager Certifications?

Tax Manager Certification is a professional designation awarded to individuals who have demonstrated a high level of expertise in the field of taxation. Tax Manager Certification is designed to recognize the advanced knowledge and skills that tax professionals need to successfully manage complex tax issues for their clients. The certification requires a comprehensive examination demonstrating an understanding of complex tax laws, regulations, and procedures.

The benefits of achieving Tax Manager Certification include:

• Gaining recognition from employers, peers, and other professionals as a knowledgeable and reliable source for tax advice and assistance;
• Enhancing credibility when providing services to clients;
• Improving job security by staying current on new developments in the field;
• Providing more opportunities for career advancement;
• Increasing earning potential due to higher demand for certified professionals; and
• Accessing exclusive resources including professional development opportunities, networking events, and continuing education courses.

Pro Tip: Make sure to research and understand the specific tax manager certification requirements for your area before committing to any program. Each state, county, or city may have different requirements for tax manager certification, so it is important to ensure that you are meeting all necessary criteria.

Related: What does a Tax Manager do?

Top 11 Tax Manager Certifications

Here’s our list of the best certifications available to Tax Managers today.

1. Certified Tax Manager (CTM)

Certified Tax Manager (CTM) is a professional designation that recognizes tax professionals who have demonstrated a high level of expertise in the field of taxation. The CTM designation is awarded by the American Institute of Certified Public Accountants (AICPA). It is designed to recognize individuals who possess advanced knowledge and experience in tax planning, compliance, and research.

In order to become a CTM, you must first meet certain requirements. These include having at least three years of full-time experience in tax practice, passing an exam administered by the AICPA, and completing continuing education courses related to taxation. The exam consists of multiple-choice questions covering topics such as federal income taxation, business entities taxation, estate and gift taxation, international taxation, and state and local taxes.

The process of becoming a CTM typically takes between six months and one year. You will need to submit an application form with your credentials and take the examination when it is offered by the AICPA. Once you have passed the exam, you will receive your CTM certificate from the AICPA.

The cost for obtaining a CTM certification varies depending on your location and other factors such as whether you are taking the exam online or in person. Generally speaking, you can expect to pay between $500-$1,000 for all associated fees including registration fees for the exam, study materials, continuing education courses, etc.

2. Certified Public Accountant (CPA)

A Certified Public Accountant (CPA) is a professional designation given to individuals who have met the educational, experience, and examination requirements set forth by the state in which they are licensed. CPAs are qualified to provide a wide range of accounting services including auditing, tax preparation, financial planning, budgeting and consulting.

The amount of time it takes to become a CPA varies by state but typically requires 150 hours of college-level coursework in accounting or related fields as well as passing the Uniform CPA Examination. Depending on the state you plan to practice in, you may also need to meet additional requirements such as completing an ethics exam or having a certain number of years of work experience.

To become a CPA, you must first meet the educational requirements for your state. You will then need to pass the Uniform CPA Exam and apply for licensure with your state board of accountancy. The cost of becoming a CPA varies depending on where you live and how much education you have completed prior to taking the exam. Generally speaking, it can cost anywhere from $500-$2,000 for exam fees alone plus additional costs for study materials and other expenses associated with obtaining licensure.

3. Chartered Tax Professional (CTP)

Chartered Tax Professional (CTP) is a professional designation for tax professionals who have demonstrated mastery of the principles and practices of taxation. It is awarded by the National Association of Tax Professionals (NATP). To become a CTP, one must pass an exam that covers topics such as individual and business taxes, estate planning, IRS audits, and more.

It typically takes three to four months to complete the requirements for the CTP designation. The first step is to register with NATP, which requires a fee of $125 USD. After registration, applicants must take an online course that covers all aspects of taxation. Once this course is completed, applicants must pass an exam administered by NATP. This exam consists of multiple-choice questions and costs $195 USD to take.

Once applicants pass the exam, they will be granted their CTP designation and be recognized as a Chartered Tax Professional. This designation allows tax professionals to demonstrate their expertise in taxation and provides them with access to exclusive resources through NATP’s website. The cost of obtaining the CTP designation is approximately $320 USD (registration fee plus exam fee).

4. Certified Financial Planner (CFP)

Certified Financial Planner (CFP) is a professional designation given by the Certified Financial Planner Board of Standards, Inc. (CFP Board). The CFP certification is a mark of excellence that demonstrates an individual's commitment to financial planning and their ability to provide competent advice to clients. It is recognized as the highest standard of excellence in the financial planning profession.

In order to become certified, individuals must meet certain educational, experience, and ethical requirements set forth by the CFP Board. To qualify for the CFP certification, individuals must have:

1. Completed a bachelor’s degree from an accredited college or university;

2. Completed at least 6 college-level courses in personal financial planning;

3. Passed the comprehensive CFP Certification Examination;

4. Acquired three years of full-time financial planning-related experience; and

5. Agreed to abide by the CFP Board’s Code of Ethics and Professional Responsibility and Financial Planning Practice Standards.

The entire process typically takes approximately two years to complete, depending on how quickly you can complete your educational requirements and pass the exam. The cost of becoming a CFP varies depending on your educational background and other factors such as exam preparation materials, application fees, etc., but it can range from $2,000 - $5,000 or more.

5. Certified Internal Revenue Service Enrolled Agent (EA)

Certified Internal Revenue Service Enrolled Agent (EA) is a designation given by the IRS to individuals who have demonstrated expertise in tax law. Enrolled Agents are authorized to represent taxpayers before the IRS for audits, collections, and appeals.

To become an EA, applicants must pass a three-part exam administered by the IRS or demonstrate equivalent experience as an IRS employee or other tax professional. The exam covers individual and business taxes, representation, ethics and procedures. It typically takes between six months and one year of study to prepare for the exam.

The cost of taking the exam varies depending on the testing center you choose. The fees range from $100 to $200 per part of the exam. Additionally, there is an application fee of $30 that must be paid when applying to take the exam.

Once you have passed all three parts of the exam, you will receive your EA credential from the IRS. This credential will allow you to represent taxpayers before the IRS and advise them on their tax matters.

6. Accredited Tax Advisor (ATA)

Accredited Tax Advisor (ATA) is a professional certification that demonstrates a high level of expertise in the field of taxation. The certification is granted by the National Association of Tax Professionals (NATP), and it is designed to recognize tax professionals who have achieved a certain level of knowledge and experience in the area of taxation.

To become an ATA, you must first pass a comprehensive exam that covers topics such as individual and business tax returns, tax law, ethics, and other related topics. The exam consists of multiple-choice questions and takes approximately four hours to complete. Once you have passed the exam, you will receive your ATA certification.

The cost to take the ATA exam varies depending on where you take it. Generally speaking, the cost ranges from $150-$200 for members of NATP or other related organizations and up to $400 for non-members. In addition, there may be additional fees associated with taking the exam such as registration fees or proctoring fees.

Once certified, ATAs must maintain their credentials by completing continuing education courses every two years in order to keep their certifications current. This ensures that they stay up to date on changes in tax laws and regulations so they can provide accurate advice to their clients.

Overall, becoming an Accredited Tax Advisor is a great way for individuals who are passionate about taxes to demonstrate their expertise in this field and further their career opportunities.

7. Accredited Tax Preparer (ATP)

Accredited Tax Preparer (ATP) is a professional designation offered by the National Association of Tax Professionals (NATP). It is designed to recognize those who have achieved a high level of knowledge and expertise in tax preparation. The ATP designation is the highest level of recognition available for tax preparers, and it demonstrates that they are well-versed in all aspects of federal and state taxation.

To become an Accredited Tax Preparer, you must complete an approved course of study that covers topics such as individual income taxation, business taxation, ethics, and other related subjects. The course typically takes three to four months to complete and consists of both classroom instruction and self-study. Upon completion of the course, you must pass a comprehensive exam administered by NATP to become certified as an Accredited Tax Preparer.

The cost for the Accredited Tax Preparer program varies depending on the provider. Generally speaking, it can range from $500 to $1,000 or more. In addition to the cost of tuition, you may also be responsible for fees associated with taking the exam and any other costs associated with completing the program.

Once you have successfully completed the Accredited Tax Preparer program and passed your exam, you will receive your official certificate from NATP. This certification is valid for three years before needing to be renewed. To renew your certification, you must complete continuing education credits each year in order to maintain your accreditation status.

8. Chartered Global Management Accountant (CGMA)

Chartered Global Management Accountant (CGMA) is a professional designation awarded by the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA). It is designed to recognize professionals with advanced knowledge in management accounting, financial strategy, operations, and risk management.

To obtain the CGMA designation, candidates must have a valid CPA license or equivalent certification from an accredited body. They must also pass the CGMA exam administered by AICPA and CIMA. The exam covers topics such as financial reporting, budgeting and forecasting, performance management, cost management, decision analysis, strategic planning and control systems.

The CGMA exam typically takes about four hours to complete. Candidates must answer 150 multiple-choice questions within that time frame. The exam fee is $250 for members of AICPA or CIMA and $500 for non-members.

Once candidates have passed the CGMA exam they will be eligible to use the CGMA designation on their business cards and resumes. They will also be able to access exclusive resources such as webinars, articles, white papers, research reports and more through AICPA/CIMA's website.

9. Certified International Taxation Specialist (CITS)

Certified International Taxation Specialist (CITS) is a professional certification program offered by the International Fiscal Association (IFA). It is designed to recognize individuals who have achieved a high level of expertise in international taxation. The CITS certification is an internationally recognized credential that demonstrates an individual's knowledge and experience in the field of international taxation.

To obtain the CITS certification, applicants must pass an exam administered by the IFA. The exam consists of multiple-choice questions covering topics such as international tax treaties, transfer pricing, double taxation relief, cross-border transactions, and other related topics. Applicants must also have at least three years of relevant professional experience to be eligible for the certification.

The exam typically takes two days to complete and costs around $1,000 USD. Once applicants pass the exam, they are awarded the CITS designation and can use it to demonstrate their expertise in international taxation to employers or clients.

10. Certified Mergers and Acquisitions Advisor (CM&AA)

A Certified Mergers and Acquisitions Advisor (CM&AA) is an individual who has been certified by the Alliance of Merger & Acquisition Advisors (AM&AA) as having met the education, experience, and ethical requirements necessary to provide merger and acquisition (M&A) advisory services. The CM&AA designation is designed to recognize those individuals who have achieved a high level of competency in the field of M&A.

It typically takes approximately two years to complete the educational requirements for the CM&AA designation. To become a CM&AA, an individual must first complete a series of courses offered through AM&AA or another accredited institution. These courses cover topics such as financial analysis, legal aspects of M&A transactions, valuation methods, due diligence processes, and negotiation techniques. Once these courses are completed, applicants must pass an exam administered by AM&AA in order to receive their certification.

In addition to completing the educational requirements for the CM&AA designation, applicants must also demonstrate at least three years of relevant professional experience in M&A transactions. This experience must include involvement in at least one completed transaction that was valued at more than $1 million.

The cost of becoming a CM&AA varies depending on which educational program you choose to complete. Generally speaking, it will cost between $2,000 - $5,000 USD for tuition fees alone. Additional costs may include exam fees and membership dues with AM&AA.

11. Certified in Entity and Intangible Valuations (CEIV).

Certified in Entity and Intangible Valuations (CEIV) is a professional designation offered by the American Society of Appraisers (ASA). It is designed to recognize individuals who have achieved a high level of knowledge, experience, and proficiency in the field of entity and intangible asset valuations.

The CEIV credential requires applicants to demonstrate their expertise in the valuation process, including the analysis of financial statements, market research, legal considerations, industry trends, and other factors that impact the value of an entity or intangible asset. The program also emphasizes ethical standards for conducting appraisals.

It typically takes at least two years to complete the requirements for the CEIV credential. Applicants must first pass a qualifying exam administered by ASA and then submit a portfolio demonstrating their experience in performing valuations. After passing both components, applicants must successfully complete an oral examination before they can receive their certification.

The cost of obtaining the CEIV certification varies depending on whether you are already an ASA member or not. For non-members, it costs $2,500 for application and exam fees plus $1,000 for each year of membership dues up to five years. For members of ASA, it costs $1,500 for application and exam fees plus $750 for each year of membership dues up to five years.

Do You Really Need a Tax Manager Certificate?

The answer to this question depends on a variety of factors. First, it is important to consider the duties of a tax manager and the type of organization in which they operate. For example, a tax manager in a large corporation may need to possess a much higher level of knowledge than an individual working in a small business. Additionally, the size and complexity of the organization’s tax responsibilities will also determine whether or not a tax manager certificate is necessary.

In addition to these considerations, it is also important to evaluate the individual’s qualifications for the job. If the person already has experience in accounting and tax law, then they may be able to manage taxes without obtaining any additional certifications. However, if they lack experience or are relatively new to the field, then obtaining a certification could be beneficial in order to demonstrate their expertise and commitment to the position.

Finally, it is important to consider whether or not obtaining a tax manager certificate would provide any additional benefit for the individual’s career prospects. In many cases, certifications can help individuals stand out from other applicants when applying for jobs or promotions within their current organization or when looking for new employment opportunities elsewhere. It is also possible that some organizations may require certain certifications for certain positions as part of their hiring criteria.

In conclusion, whether or not someone needs a tax manager certificate depends on several factors such as their qualifications and experience levels as well as what type of organization they are working with and what their career aspirations are. Ultimately, it is up to each individual to make an informed decision based on their own unique circumstances.

Related: Tax Manager Resume Examples

FAQs About Tax Manager Certifications

1. Q: What is a Tax Manager Certification?

A: A Tax Manager Certification is a professional credential that demonstrates expertise in tax management. It is awarded by the American Institute of Certified Public Accountants (AICPA) and is recognized as the gold standard for tax professionals.

2. Q: What are the requirements to become a Tax Manager?

A: The requirements to become a Tax Manager vary depending on your state or jurisdiction, but generally include having at least 5 years of relevant experience in taxation, having a CPA license, and passing the AICPA's Uniform CPA Examination.

3. Q: How long does it take to get a Tax Manager Certification?

A: The process typically takes between 6 months and 1 year from start to finish, depending on your experience level and the exam you choose to take.

4. Q: What are the benefits of becoming a Tax Manager?

A: Becoming a certified Tax Manager can open up new career opportunities, provide increased job security, and potentially result in higher salaries than non-certified tax professionals. Additionally, it provides an opportunity to gain specialized knowledge in taxation that can be applied across industries and organizations.

5. Q: Are there any continuing education requirements associated with maintaining my certification?

A: Yes, you must maintain your certification by completing 40 hours of continuing professional education (CPE) every year in order to remain certified as a Tax Manager.