The text emphasizes those areas of taxation generally accepted as essential to the education of those pursuing careers in taxation or tax-related fields. The first eight chapters are devoted to the tax problems of regular corporations and their shareholders. These chapters are followed by a separate chapter examining the special problems of international taxation, an area of growing importance. Two chapters consider the taxation partnerships and partners while one chapter examines S corporations. Federal estate and gift taxation is discussed in one chapter. Two additional chapters contain the related topics of the income taxation of estates, trusts, and beneficiaries and the major aspects of family tax planning. For those students who have not had previous exposure to tax research, a separate chapter provides an introduction to this important topic. The skills explained in this chapter may be applied to the research questions contained at the end of most chapters. In addition, a chapter is devoted to the procedural aspects of taxation, including the special concerns for those involved in tax practice. The scope of this text is intentionally broad to accommodate a variety of uses and to provide flexibility for instructors in designing advanced tax courses. It is neither our intention nor our belief that all of the contents can or should be covered in a single three-semester-hour course. The sheer technical detail of the material presented is obviously more than can be covered in one course without selective pruning. Our hope is that instructors can adapt the text to satisfy their varying needs. In this regard, the ample coverage of what we believe are the most relevant topics - filled with examples and exhibits - should meet the desires of the most demanding users.
To offer maximum flexibility in your course, the text not only focuses on Federal income taxation of individuals, but also covers additional topics such as the income taxation of regular corporations and shareholders, Federal estate and ...
This edition continues the tradition of excellence with timely updates reflecting the latest in tax laws, integration of TurboTax®, and rich online resources for instructors.
Receipt of Cash and Other Property—“Boot” EXAMPLE Jones owns an apartment house held for investment that has a fair market value of $220,000, subject to an $80,000 mortgage. His adjusted basis is $100,000. In 2021, Jones exchanges his ...
Australian Partners from the Philippines The business men married in Australia. Their company was in Manila. ... I know we take the tax advantages for granted when we are doing our accounting using Turbo Tax.
Includes issues influencing incorporated small businesses, partnerships, and LLCs Offers expanded coverage of other business taxes including payroll and sales taxes Provides websites and other online tax resources Gives guidance to ...
Accounting Faculty Directory, 1993
This longtime Barron's favorite has been updated for the mid-1990s, and features approximately 7,000 business terms and definitions listed alphabetically. It defines terms related to investment, banking, taxes, law, real...
Includes issues influencing incorporated small businesses, partnerships, and LLCs Offers expanded coverage of other business taxes including payroll and sales taxes Provides websites and other online tax resources Gives guidance to ...
It discusses in depth the factors applied in determining reasonableness, the necessity for the actual performance of services, situations where a deduction for reasonable compensation is not allowable, and other aspects of reasonable ...