This text is designed principally for use in a second course in federal taxation for undergraduate accounting and business students.
Contains clearly stated concepts in familier, readily understandable language, up-to the-minute information, and the best problem materials on the market.
This is a comprehensive introduction to federal taxation, covering individuals, partnerships and corporations.
ESTATES AND TRUSTS If taxable income is: The tax is: Not over $2,150 15% of taxable income. ... 1985 121,800 400,000 1986 155,800 500,000 1987 through 1997 192,800 600,000 1998 202,050 625,000 1999 211,300 650,000 2000 220,550 675,000 ...
Update for 1997 Tax Legislation
He received a painting from Daley in return for allowing Daley to use an apartment rent free . Sloan must include in income the painting's fair market value and Daley must include the fair rental value of the apartment .
C7-34 Sears shareholders of record on June 28 , 1993 received 0.39031 shares of Dean Witter ( a Sears brokerage subsidiary ) common stock for each share of Sears stock owned in a spinoff transaction . The distribution qualified as tax ...
Kelly and Chanelle Chambers , ages 47 and 45 , are married and live at 584 Thoreau Drive , Boston , MA 59483. Kelly's social security is 254-93-9483 and Chanelle's is 37448-2938 . The Chambers have two children ; Emma , age 23 ...
Without a gift tax , estate taxes could be easily avoided by large gifts made before death . ... to the gift tax are covered in Chapter C : 12 in both Prentice Hall's Federal Taxation : Corporations , Partnerships , Estates , and Trusts ...
... originally written by Myron S. Scholes and Mark A. Wolfson and takes what has become known as the Scholes-Wolfson approach to investment strategy.1 Consequently, the chapter differs significantly from other chapters in this text.