To LL.M. (Tax) or not to LL.M To LL.M. (Tax) or not to LL.M (Tax)—That is the question(Tax)—That is the question

Prof. MombrunProf. Mombrun

Prof. BranchProf. Branch

Assistant Dean MorganAssistant Dean Morgan

Rough Estimate of tax student Rough Estimate of tax student career pathcareer path

First Tax Class -- Last Tax ClassFirst Tax Class -- Last Tax Class

More JD Tax ClassesMore JD Tax ClassesLL. M.LL. M.ProgramProgram

Tax CourtTax CourtLaw ClerkLaw Clerk

First & Last Tax ClassFirst & Last Tax Class

= No More Steps = No More Steps

Congratulations !Congratulations !

First Tax ClassFirst Tax Class

Seriously – an eye openerSeriously – an eye opener

First time in law school where you get a real First time in law school where you get a real answer in classanswer in class

--Not --Not usually—Itusually—It depends or what do you think? depends or what do you think?

--Normally, either you meet the statutory --Normally, either you meet the statutory requirements or you do notrequirements or you do not

--Love at first sight--Love at first sight

--or you heard that tax lawyers make good --or you heard that tax lawyers make good money—Love at first sightmoney—Love at first sight

Benefits of an LL.M.Benefits of an LL.M.

• Improve tax job placement significantlyImprove tax job placement significantly

• Almost a requirement these daysAlmost a requirement these days

• Improve substantive tax knowledge—BIG Improve substantive tax knowledge—BIG TIMETIME

• Improve practical knowledgeImprove practical knowledge

Benefits of LL.MBenefits of LL.M

• Preparation for career at:Preparation for career at:

• IRS or Gvt. AgencyIRS or Gvt. Agency

• Law Firm or Accounting FirmLaw Firm or Accounting Firm

• Business or Estate PlanningBusiness or Estate Planning

• Teaching Teaching

• Choosing New Business Entities Choosing New Business Entities

• In-House CounselIn-House Counsel

• Real EstateReal Estate

Benefits of LL.M.Benefits of LL.M.

• ProbateProbate

• Personal Income TaxPersonal Income Tax

• Local GovernmentLocal Government

Preparing for an LL. M.Preparing for an LL. M.

• Corporate TaxCorporate Tax• Advanced Income TaxAdvanced Income Tax• VITAVITA

– CoordinatorCoordinator– DirectorDirector– VolunteerVolunteer

• Tax PaperTax Paper• Tax externship or Tax externship or

internshipinternship

• Partnership TaxPartnership Tax• Tax ProcedureTax Procedure• Gift & Estate TaxGift & Estate Tax• Income Tax of Trusts Income Tax of Trusts

& Estates& Estates• State & Local TaxState & Local Tax• Tax Club?Tax Club?• Join ABA Tax SectionJoin ABA Tax Section

andand

You are in your third year?You are in your third year?

• See what you can do from previous slideSee what you can do from previous slide• Secure really good recommendations from Secure really good recommendations from

your tax professorsyour tax professors• Make sure you get the best possible grades Make sure you get the best possible grades

in your tax classes and business classesin your tax classes and business classes• Prepare your application carefully and Prepare your application carefully and

highlight what makes you unique or highlight what makes you unique or differentdifferent

You are in your second year!You are in your second year!

• More flexibility!More flexibility!

• Complete list in slide #8Complete list in slide #8

• Do well in your tax and business classesDo well in your tax and business classes

• Secure really good recommendationsSecure really good recommendations

• Convince your professors that you really Convince your professors that you really want to get that LL.M.want to get that LL.M.

Before the LL. M. ProgramBefore the LL. M. Program

• Apply in Sept/Oct of 3L yearApply in Sept/Oct of 3L year– Rolling AdmissionsRolling Admissions

• Make good grades in all your Tax ClassesMake good grades in all your Tax Classes

• Take as many Tax Classes as PossibleTake as many Tax Classes as Possible

• Write a Tax ArticleWrite a Tax Article– Get Published – Enter Competitions!Get Published – Enter Competitions!

Which program to apply to?Which program to apply to?

• Go for the top!Go for the top!

• Caveat: Be sure you know what you want Caveat: Be sure you know what you want and where you want to be!and where you want to be!

• Above all—APPLY, APPLY, APPLYAbove all—APPLY, APPLY, APPLY

• DO NOT TAKE YOURSELF OUT OF THE DO NOT TAKE YOURSELF OUT OF THE RUNNING—THIS IS NOT YOUR JOB!!RUNNING—THIS IS NOT YOUR JOB!!

Special Mention—U of FloridaSpecial Mention—U of Florida

• Consistently ranked #1 or #2Consistently ranked #1 or #2

• Rigorous program and very well respectedRigorous program and very well respected

• Relatively affordableRelatively affordable

• One year of Florida weatherOne year of Florida weather

• Constantly looking to improveConstantly looking to improve

Special Mention--NorthwesternSpecial Mention--Northwestern

• Program started in 2002 and they are Program started in 2002 and they are already ranked #4 by US Newsalready ranked #4 by US News

• They appear very aggressive and They appear very aggressive and committed to the growth of the programcommitted to the growth of the program

• 94% of graduates employed within 9 94% of graduates employed within 9 months of graduationmonths of graduation

• TARE—Tax Attorney Recruitment EventTARE—Tax Attorney Recruitment Event– Started recruitment drive 2 years ago with the Started recruitment drive 2 years ago with the

University of Florida and Boston UniversityUniversity of Florida and Boston University

What’s the LL. M. Program Like?What’s the LL. M. Program Like?

• Like your 1L year … again!Like your 1L year … again!

• Problem-solving based classesProblem-solving based classes

• Much more reading, researching, & studyingMuch more reading, researching, & studying

• Saturation of informationSaturation of information

• Possible thesis paperPossible thesis paper

• Makes JD look like kindergartenMakes JD look like kindergarten

Applying for Jobs Applying for Jobs in Today’s Marketin Today’s Market

• Résumés vs. NetworkingRésumés vs. Networking• Cover LetterCover Letter

– Don’t start off with Mickey Mouse openingDon’t start off with Mickey Mouse opening– Sign your name!!!Sign your name!!!– Proofread and reproof for errors Proofread and reproof for errors

and awkward phrasingand awkward phrasing

• Complete application packetComplete application packet• Join Tax Section CommitteesJoin Tax Section Committees• PASS THE BARPASS THE BAR

To LL.M (Tax) or not to LL.M. (tax)To LL.M (Tax) or not to LL.M. (tax)

T h e E n d