West Federal Taxation 2008 Comprehensive Volume (with RIA Checkpoint Online Database Access Card, Turbo Tax Business CD-ROM, and Turbo Tax Basic)

by Willis, Eugene; Hoffman, William H.; Maloney, David M.; Raabe, William A.

• ISBN13: 9780324365894
• ISBN10: 0324365896
• Edition: 31st
• Format: Hardcover
• Copyright: 2007-04-13
• Publisher: South-Western College/West

Summary

Combing the best individual and top corporate tax texts, the 2008 EDITION of WEST FEDERAL TAXATION: COMPREHENSIVE VOLUME is the most effective textbook for helping students master complex and ever-changing Tax Code. This streamlined version of the first two textbooks in the market-leading WFT Series offers a thorough and balanced treatment of the Tax Code and regulations pertaining to the individual taxpayer that covers all major developments in federal taxation, as well as complete coverage of C Corporations, Flow-Through Entities, Family Tax Planning, and other business topics, while highlighting materials of critical interest to the serious tax practitioner. Its current, comprehensive, and accessible presentation is packed with relevant, real-world examples that bring chapter concepts to life with realistic tax situations. WFT continues to 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 throughout your career. 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 your 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® Basic and Business. Packed with examples, practical applications, and powerful learning tools, WEST FEDERAL TAXATION: COMPREHENSIVE VOLUME, 2008 EDITION delivers the most comprehensive tax coverage available.

Table of Contents

An Introduction to Taxation and Understanding the Federal Tax Law

Working with the Tax Law

Tax Determination

Personal ad Dependency Exemptions

An Overview of Property Transactions

Gross Income: Concepts and Inclusions

Gross Income: Exclusions

Deductions and Losses: In General

Deductions and Losses: Certain Business Expenses and Losses

Depreciation, Cost Recovery, Amortization, and Depletion

Deductions and Self-Employed-Related Expenses

Deductions and Losses: Certain Itemized Deductions

Passive Activity Losses

Tax Credits

Property Transactions: Determination of Gain or Loss, Basis Considerations, and Nontaxable Exchanges

Property Transactions: Capital Gains and Losses, Section 1231, and Recapture Provisions

Alternative Minimum Tax

Accounting Periods and Methods

Corporations: Introduction, Operating Rules, and Related Corporations

Corporations: Organization and Capital Structure

Corporations: Distributions Not in Complete Liquidation

Corporations: Distributions in Complete Liquidation and an Overview of Reorganizations

Partnerships

S Corporations

Exempt Entities

Multistate Corporate Taxation

Taxation of International Transactions

Tax Administration and Practice

The Federal Gift and Estate Taxes

Income Taxation of Trusts and Estate

Appendixes

Subject

Index

Table of Contents provided by Publisher. All Rights Reserved.