West Federal Taxation 2007 Corporations, Partnerships, Estates, and Trusts, Professional Version

by Hoffman, William H.; Raabe, William A.; Smith, James E.; Maloney, David M.

• ISBN13: 9780324313628
• ISBN10: 0324313624
• Edition: 30th
• Format: Hardcover
• Copyright: 2006-04-13
• Publisher: South-Western College/West

Summary

WEST FEDERAL TAXATION: CORPORATIONS, PARTNERSHIPS, ESTATES, & TRUSTS, 2007 EDITION covers tax legislation as it impacts Corporations, Partnerships, Estates, and Trusts. Renowned for its thoroughness in these areas, the text provides comprehensive coverage of C Corporations, Flow-Through Entities, Family Tax Planning, and more, while highlighting materials of critical interest to the serious tax practitioner.

Table of Contents

Introduction
Understanding and Working with the Federal Tax Law	p. 1
The Whys of the Tax Law	p. 2
Working with the Tax Law-Tax Sources	p. 16
Working with the Tax Law-Locating Tax Sources	p. 32
Working with the Tax Law-Tax Research	p. 36
Working with the Tax Law-Tax Planning	p. 44
Use of the Ria Citator	p. 46
Taxation on the Cpa Examination	p. 48
Problem Materials	p. 49
Corporations
Corporations: Introduction and Operating Rules	p. 1
Tax Treatment of Various Business Forms	p. 2
An Introduction to the Income Taxation of Corporations	p. 8
Determining the Corporate Income Tax Liability	p. 19
Procedural Matters	p. 21
Tax Planning Considerations	p. 32
Problem Materials	p. 37
Corporations: Special Situations	p. 1
Domestic Production Activities Deduction	p. 2
Alternative Minimum Tax	p. 14
Penalty Taxes on Corporate Accumulations	p. 22
Tax Planning Considerations	p. 25
Problem Materials	p. 27
Corporations: Organization and Capital Structure	p. 1
Organization of and Transfers to Controlled Corporations	p. 2
Capital Structure of a Corporation	p. 15
Investor Losses	p. 19
Gain from Qualified Small Business Stock	p. 21
Tax Planning Considerations	p. 22
Problem Materials	p. 26
Corporations: Earnings & Profits and Dividend Distributions	p. 1
Corporate Distributions-in General	p. 2
Earnings and Profits (E & P)-[section] 312	p. 3
Dividends	p. 10
Tax Planning Considerations	p. 21
Problem Materials	p. 25
Corporations: Redemptions and Liquidations	p. 1
Stock Redemptions-in General	p. 3
Stock Redemptions-Sale or Exchange Treatment	p. 3
Effect on the Corporation Redeeming its Stock	p. 12
Stock Redemptions-Additional Limitations	p. 13
Liquidations-in General	p. 16
Liquidations-Effect on the Distributing Corporation	p. 18
Liquidations-Effect on the Shareholder	p. 22
Liquidations-Parent-Subsidiary Situations	p. 23
Tax Planning Considerations	p. 27
Problem Materials	p. 31
Corporations: Reorganizations	p. 1
Reorganizations-in General	p. 4
Types of Tax-Free Reorganizations	p. 10
Judicial Doctrines	p. 25
Tax Attribute Carryovers	p. 27
Tax Planning Considerations	p. 33
Problem Materials	p. 36
Consolidated Tax Returns	p. 1
Context of the Consolidated Return Rules	p. 2
Assessing Consolidated Return Status	p. 6
Electing Consolidated Return Status	p. 8
Stock Basis of Subsidiary	p. 16
Computing Consolidated Taxable Income	p. 18
Tax Planning Considerations	p. 31
Problem Materials	p. 32
Taxation of International Transactions	p. 1
Overview of International Taxation	p. 2
Tax Treaties	p. 4
Sourcing of Income and Deductions	p. 5
Foreign Currency Transactions	p. 11
U.S. Persons with Foreign Income	p. 14
U.S. Taxation of Nonresident Aliens and Foreign Corporations	p. 32
Reporting Requirements	p. 39
Tax Planning Considerations	p. 40
Problem Materials	p. 43
Flow-Through Entities
Partnerships: Formation, Operation, and Basis	p. 1
Overview of Partnership Taxation	p. 2
Formation of a Partnership: Tax Effects	p. 9
Operations of the Partnership	p. 19
Transactions Between Partner and Partnership	p. 36
Tax Planning Considerations	p. 39
Problem Materials	p. 42
Partnerships: Distributions, Transfer of Interests, and Terminations	p. 1
Distributions from a Partnership	p. 2
Liquidating Distributions to Retiring or Deceased Partners	p. 17
Sale of a Partnership Interest	p. 21
Other Dispositions of Partnership Interests	p. 25
Optional Adjustments to Property Basis	p. 27
Termination of a Partnership	p. 30
Other Issues	p. 31
Tax Planning Considerations	p. 36
Problem Materials	p. 39
S Corporations	p. 1
Introduction	p. 2
Qualifying for S Corporation Status	p. 5
Operational Rules	p. 11
Tax Planning Considerations	p. 30
Problem Materials	p. 37
Comparative Forms of Doing Business	p. 1
Forms of Doing Business	p. 3
Nontax Factors	p. 4
Single Versus Double Taxation	p. 6
Controlling the Entity Tax	p. 10
Conduit Versus Entity Treatment	p. 15
Disposition of a Business or an Ownership Interest	p. 20
Overall Comparison of Forms of Doing Business	p. 25
Tax Planning Considerations	p. 25
Problem Materials	p. 32
Advanced Tax Practice Considerations
Exempt Entities	p. 1
Types of Exempt Organizations	p. 3
Requirements for Exempt Status	p. 3
Tax Consequences of Exempt Status: General	p. 6
Private Foundations	p. 10
Unrelated Business Income Tax	p. 14
Reporting Requirements	p. 24
Tax Planning Considerations	p. 27
Problem Materials	p. 30
Multistate Corporate Taxation	p. 1
Overview of Corporate State Income Taxation	p. 4
Allocation and Apportionment of Income	p. 9
The Unitary Theory	p. 22
Taxation of S Corporations	p. 25
Taxation of Partnerships and LLCs	p. 27
Other State and Local Taxes	p. 28
Tax Planning Considerations	p. 31
Problem Materials	p. 39
Tax Administration and Practice	p. 1
Tax Administration	p. 2
Tax Practice	p. 22
Tax Planning Considerations	p. 28
Problem Materials	p. 33
Family Tax Planning
The Federal Gift and Estate Taxes	p. 1
Transfer Taxes-in General	p. 2
The Federal Gift Tax	p. 10
The Federal Estate Tax	p. 19
The Generation-Skipping Transfer Tax	p. 39
Tax Planning Considerations	p. 40
Problem Materials	p. 41
Family Tax Planning	p. 1
Valuation Concepts	p. 2
Income Tax Concepts	p. 13
Gift Planning	p. 18
Estate Planning	p. 24
Problem Materials	p. 33
Income Taxation of Trusts and Estates	p. 1
An Overview of Subchapter J	p. 2
Nature of Trust and Estate Taxation	p. 5
Taxable Income of Trusts and Estates	p. 8
Taxation of Beneficiaries	p. 21
Grantor Trusts	p. 26
Tax Planning Considerations	p. 28
Problem Materials	p. 32
Appendixes
Tax Rate Schedules and Tables	p. 1
Tax Forms	p. 1
Glossary of Tax Terms	p. 1
Table of Code Sections Cited	p. 1
Table of Regulations Cited	p. 10
Table of Revenue Procedures and Revenue Rulings Cited	p. 13
Table of Cases Cited	p. 1
Index	p. 1
Table of Contents provided by Ingram. All Rights Reserved.