Concepts in Federal Taxation 2008 Edition

by Murphy, Kevin E.; Higgins, Mark

• ISBN13: 9780324640151
• ISBN10: 0324640153
• Format: Hardcover
• Copyright: 2007-04-06
• Publisher: South-Western College/West

Summary

Learn the principles you need for a successful tax career as you concentrate on the concepts underlying the latest tax rules, laws and regulations. Instead of focusing on memorizing the specifics within today's tax Code, CONCEPTS IN FEDERAL TAXATION 2008 takes a less detailed, conceptual approach that presents the unifying concepts and overriding principles that apply to all of the specific tax rules and regulations. Numerous Concept Checks within the book ensure you understand the conceptual underpinnings of today's tax laws, while a variety of strong applications and exercises provide the practice you need to prepare for the tax simulations within the CPA exam.A strong balance between tax concepts and the Internal Revenue Code and regulations provides a practical foundation for your future in today's business environment. RIA Checkpoint® Student Version is an optional bundle item with any new text. Information that reflects the latest tax code changes and developments throughout the book and the supporting website with learning resources and up-to-the-minute tax developments offer everything you need to tackle today's most challenging tax situations for individuals or corporations.

Table of Contents

Conceptual Foundations of The Tax Law

Federal Income Taxation--An Overview

Income Tax Concepts

Gross Income

Income Sources

Income Exclusions

Deductions

Introduction to Business Expenses

Business Expenses

Losses: Deductions and Limitations

Taxation of Individuals

Property Transactions

Acquisitions of Property

Cost Recovery on Property: Depreciation, Depletion, and Amortization

Property Dispositions

Nonrecognition Transactions

Income Tax Entities

Choice of Business Entity--General Tax and Nontax Factors/Formation

Choice of Business Entity--Operations and Distributions

Choice of Business Entity--Other Considerations

Tax Research

Tax Research

Appendices

Tax Return Problem

Tax Rate Schedules and Tax Tables

Tax Forms

Statements on Standards for Tax Services

Glossary

Index

Table of Contents provided by Publisher. All Rights Reserved.