West Federal Taxation 2008 Individual Income Taxes (with RIA Checkpoint and Turbo Tax Premier CD-ROM)

by Hoffman, William H.; Smith, James E.; Willis, Eugene

• ISBN13: 9780324380583
• ISBN10: 0324380585
• Edition: 31st
• Format: Hardcover
• Copyright: 2007-04-03
• Publisher: South-Western College/West

Summary

The 2008 edition of WEST FEDERAL TAXATION: INDIVIDUAL INCOME TAXES remains the most effective text for helping students master the ever-changing Individual Tax Code. Its current, comprehensive, and accessible presentation of the Tax Code and regulations pertaining to the individual taxpayer covers all major developments in federal taxation--complete with relevant, real-world examples that bring chapter concepts to life with realistic tax situations. The book gives strong emphasis to the importance of careful tax planning with special sections and integrated tax planning applications and suggestions throughout most chapters. It also offers solid coverage of how taxation is affected by international concerns. WFT is packed with tools to help you succeed on the CPA exam and well beyond. The new CPA exam includes tax research requiring students to use RIA Checkpoint®--and WFT users will be well prepared. The book includes a thorough simulation tutorial that walks students step-by-step through the process of how to apply RIA research strategies as well as numerous research exercises to put their skills to the test. New copies of the text include a code good for 12 months of free access to RIA Checkpoint Student Version as well as tax software bestseller TurboTax® Premier. Packed with examples, practical applications, and powerful learning tools, WEST FEDERAL TAXATION: INDIVIDUAL INCOME TAXES, 2008 EDITION delivers the most comprehensive coverage of individual taxation available.

Table of Contents

Introduction And Basic Tax Model

An Introduction to Taxation and Understanding the Federal Tax Law

Working with the Tax Law

Tax Determination

Personal and Dependency Exemptions

An Overview of Property Transactions

Gross Income

Gross Income: Concepts and Inclusions

Gross Income: Exclusions

Deductions

Deductions and Losses: In General

Deductions and Losses: Certain Business Expenses and Losses

Depreciation, Cost Recovery, Amortization, and Depletion

Deductions: Employee and Self-Employed-Related Expenses

Deductions and Losses: Certain Itemized Deductions

Passive Activity Losses

Special Tax Computation Methods, Payment Procedures, And Tax Credits

Alternative Minimum Tax

Tax Credits and Payment Procedures

Property Transactions

Property Transactions: Determination of Gain or Loss and Basis Consideration

Property Transactions: Nontaxable Exchanges

Property Transactions: Capital Gains and Losses

Property Transactions: Section 1231 and Recapture Provisions

Accounting Periods, Accounting Methods, And Deferred Compensation

Accounting Periods and Methods

Deferred Compensation

Corporations And Partnerships

Corporations and Partnerships

Appendixes

Subject

Index

Table of Contents provided by Publisher. All Rights Reserved.