Concepts in Federal Taxation 2011 (with H&R Block @ Home Tax Preparation Software CD-ROM, RIA Checkpoint & CPAexcel 2-Sememster Printed Access Card)

by Murphy, Kevin E.; Higgins, Mark

• ISBN13: 9780538467926
• ISBN10: 0538467924
• Edition: 18th
• Format: Hardcover
• Copyright: 2010-04-09
• Publisher: South-Western College/West

Summary

Murphy and Higgins' CONCEPTS IN FEDERAL TAXATION 2011 offers students a better way to learn tax – through a conceptual approach. Instead of memorizing the complex and often intimidating tax codes, regulations, exceptions, and qualifications, this approach presents taxation as a small number of unifying concepts. Once students understand these concepts, they can apply them to a wide range of tax rules and to basic aspects of everyday economic life. This straightforward approach balances tax concepts with the Internal Revenue Code to prepare students for immediate success on CPA exam tax simulations and in their careers. Extensive examples relate tax concepts to familiar business scenarios using an engaging discussion and answer format. In addition, Murphy and Higgins' CONCEPTS IN FEDERAL TAXATION 2011 promises more exercises than any other text of its kind for the practice students need. Each new copy of this text is packaged with H&R Block At Home(TM) software, Checkpoint® Student Edition from Thomson Reuters, and CPA Excel® to provide your students with additional professional experience!

Table of Contents

Conceptual Foundations of the Tax Law 1

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

Tax Return Problem

Tax Rate Schedules and Tax Tables

Tax Forms

Statements on Standards for Tax Services

Glossary

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