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How Necessary is Tax?

Posted: Sun May 24, 2015 2:42 pm
by POTUSorSCOTUS
I am not sure whether I want to go the litigation or corporate route. My SA position will provide me the opportunity for both. If I decide corporate, how necessary is a tax course during LS? I feel like I would hate the class, but I don't want to foreclose a possibility (i.e., corp route) by not taking a tax course.

Thx

Re: How Necessary is Tax?

Posted: Sun May 24, 2015 2:45 pm
by rinkrat19
POTUSorSCOTUS wrote:I am not sure whether I want to go the litigation or corporate route. My SA position will provide me the opportunity for both. If I decide corporate, how necessary is a tax course during LS? I feel like I would hate the class, but I don't want to foreclose a possibility (i.e., corp route) by not taking a tax course.

Thx
I think there are probably other classes more important for corp than tax. BA, Corps, SecReg...

Re: How Necessary is Tax?

Posted: Sun May 24, 2015 3:10 pm
by POTUSorSCOTUS
rinkrat19 wrote:
POTUSorSCOTUS wrote:I am not sure whether I want to go the litigation or corporate route. My SA position will provide me the opportunity for both. If I decide corporate, how necessary is a tax course during LS? I feel like I would hate the class, but I don't want to foreclose a possibility (i.e., corp route) by not taking a tax course.

Thx
I think there are probably other classes more important for corp than tax. BA, Corps, SecReg...

I've done Corps, SecReg, and various other corp classes - just never Tax, and didn't plan on it until I started looking at the lawyers in my firm's bio pages ... all attorneys in Business Planning or M&A practice groups are also in the Tax group

Re: How Necessary is Tax?

Posted: Sun May 24, 2015 5:49 pm
by CanadianWolf
Consider reading a Nutshell or other supplemental book on tax law to conquer or to confirm your fear.

While specific tax law courses are not required for one to practice corporate law, an understanding of basic tax law concepts is needed.

The more pressing issue may be how will the hiring partner/committee view a resume with no tax courses for one seeking to practice in the area of corporate transactions. This may vary from firm to firm, but will be important to the firm you mentioned in your post.

Re: How Necessary is Tax?

Posted: Sun May 24, 2015 5:52 pm
by CanadianWolf
Consider asking attorneys in business planning & M&A what tax courses they would recommend.

Re: How Necessary is Tax?

Posted: Tue May 26, 2015 1:41 am
by DJ JD
CanadianWolf wrote:Consider asking attorneys in business planning & M&A what tax courses they would recommend.
Lol, really, TITCR.

Re: How Necessary is Tax?

Posted: Tue May 26, 2015 11:56 pm
by cigarman
"When a tax lawyer rejects a proposed corporate
structure, that structure almost certainly won’t be used. When a tax lawyer
proposes a corporate structure, very likely that structure will be used. Even
esteemed lawyers practicing in other fields of law check with us before giving
basic tax advice to clients." LINDA GALLER (Hofstra University)

Maybe that will help. We tax lawyers know that "tax touches EVERYTHING". There is no part of the law that doesn't have some tax implication.

Why do you "think" you'll hate tax? I can't imagine you being useful in any M=A or business planning if you don't even have a basic understanding of tax and accounting. This isn't con law where you just make it however you "feel" it should be.

Take the tax class irrespective of either route you take. It won't kill you, and will make you stronger. And you might even "like" it... many surprise themselves.

Re: How Necessary is Tax?

Posted: Wed May 27, 2015 12:05 am
by RodneyRuxin
I regret taking tax. AMA

Re: How Necessary is Tax?

Posted: Wed May 27, 2015 12:12 am
by The Mixed Tape
take fed income tax.