Tax Consulting Track
What you’ll learn:
Tax professionals are in demand. As the U.S. tax code changes each year, there seems to always be a higher need for tax professionals than any other service line in public accounting. Students in this track will learn about the U.S. federal income taxation of corporations, partnerships, S corporations, estates and gifts, and not-for-profit entities. Students will understand the federal tax research process as it relates to tax planning and compliance issues. This includes understanding both primary and secondary sources of tax authority, and the proper use of each. We will also explore ethical issues related to providing tax advice, including the administration of the tax laws and the rules governing practice before the IRS. You’ll learn how the U.S. tax policies can impact the economy, the major differences between tax expense for GAAP and tax purposes, the impact of deferred tax assets and liabilities, and understand the impact of corporate acquisitions as it relates to tax.
Who you’ll learn from:
Professor of the Practice
336-758-2970 | email
“Professor Jim Willis is a Professor of the Practice and the Former Dean of Accountancy Programs at Wake Forest University School of Business. Jim joined Wake Forest in August of 2013 after spending over 30 years in the accounting profession. Prior to joining Wake Forest, Jim served as Executive Vice President and Chief Financial Officer of Gray Holdings, LLC a large multi-family real estate company. Prior to joining Gray Holdings, Jim spent 24 years in public accounting, most recently as the partner in charge of tax services for the Atlantic Region of BDO USA, LLP. He has also held positions in the tax departments of Ernst & Young and Coopers & Lybrand (now PWC). His teaching experience includes graduate tax courses in Taxation of Property Transactions and Partnership Taxation in the Master of Taxation program at Virginia Commonwealth University. Jim received his B.S. in Accounting and his Master of Taxation from Virginia Commonwealth University, where he later received the VCU Beta Alpha Psi Outstanding Alumnus Award. Profesor Willis teaches Tax Research & Communication, Selected Topics in Tax, Tax for Mergers & Acquisitions, Introduction to Partnership Tax, and Tax Aspects of Financial Statements.”
Visiting Associate Professor of the Practice
336-758-7240 | email
“Professor Whitney Simpson is an Associate Professor of the Practice at Wake Forest University School of Business. Professor Simpson earned her undergraduate degree from Davidson College and her Masters in Tax from the University of South Carolina. She worked in the tax service lines of both BDO and Cherry, Bekaert, & Holland, before joining Bank of America. Professor Simpson served as a Tax Manager and Senior Tax Manager for over six years before joining Wake Forest in 2017. Profesor Simpson teaches Tax Policy & Administration and Federal Taxation of Corporations & Partnerships. “
The best things about Tax
- Little to no travel – you get to be home every night
- Higher starting salaries in some cases (high demand and low supply)
- Your clients are excited to see you as you’re looking for ways to reduce their tax liability
How you’ll learn:
We will solve problems together in class, review current events in accounting, and complete quizzes on the material.
Class materials will be available online for asynchronous work and study.