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Taxation for Decision Makers, 2012 Edition

Taxation for Decision Makers, 2012 Edition

Shirley Dennis-Escoffier, Karen A. Fortin

ISBN: 978-1-118-09155-5

Jul 2011

672 pages

Select type: Hardcover


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PART I: Introduction to Taxation and its Environment

Chapter 1: An Introduction to Taxation

Chapter 2: The Tax Practice Environment

PART II: Income and Expense Determination

Chapter 3: Determining Gross Income

Chapter 4: Employee Compensation

Chapter 5: Business Expenses

PART III: Property Concepts and Transactions

Chapter 6: Property Acquisitions and Cost Recovery Deductions

Chapter 7: Property Dispositions

Chapter 8: Tax-Deferred exchanges

PART IV: Business Taxation

Chapter 9: Taxation of Corporations

Chapter 10: Sole Proprietorships and Flow-Through Entities

PART V: Taxation of Individuals

Chapter 11: Income Taxation of Individuals

Chapter 12: Wealth Transfer Taxes

Appendix A: Tax Research Using RIA Checkpoint.

Appendix B: Present Value and Future Value Tables.

Appendix C: Sample Filled-in Tax Returns.

Appendix D: Tax Return Problems.




The 2012 edition of this text has been completely updated for new legislation including the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, the Small Business Jobs Act, The Patient Protection and Affordable Care Act, and the Health Care and Education Reconciliation Act of 2010. This text has been updated for all IRS pronouncements available as of the end of April 2011, including the automobile ceiling limits. With a condensed text to print schedule, this text can incorporate changes made by Congress and new IRS pronouncements that cannot be included in most other texts that are printed in early Spring. In addition, references to relevant legislation pending as of the date the text goes to print are included within the text. As such, it provides the most up-to-date text for your students.

• Ideal for a One-Semester Introductory Course in federal taxation at either the undergraduate or graduate level. It is written with both clarity and flexibility and is appropriate for students with broad business interests as well as those majoring in accounting. With its topical coverage designed around the AICPA Model Tax Curriculum it provides the basic body of tax knowledge required in this first course in taxation. Its extensive introduction to business taxation provides the type of knowledge required of accounting students while still introducing basic individual income and expense topics that students more readily recognize early in the text.

• Balanced Presentation! Some texts overwhelm students with technical detail; other texts introduce broad concepts but lack sufficient detail to prepare accounting majors for entry into the profession. This text strikes the perfect balance between concepts and details by including sufficient technical detail to provide a foundation for future practice in taxation and consulting while not overwhelming the student with seldom-encountered minutia As a result, it is ideal for the instructor who wants to provide more succinct coverage than is available in a longer text.

• Comprehensive and Flexible! The only text to introduce all tax topics on the computerized CPA exam in only 12 chapters. Its chapter arrangement and topic presentation makes it easy to change the sequence of chapters. For example, Chapter 11: Income Taxation of Individuals contains sufficient notes and references to appropriate basic concepts introduced in the preceding chapters, making it easy for instructors who wish to cover this chapter early in the term to do so. Additionally, through the use of end-of-chapter appendices that introduce topics not typically covered in a first tax course (including corporate reorganizations, state and local taxation, and taxation of nonprofit entities), the instructor can achieve the level of rigor appropriate for each particular class.

• The Importance of Tax Planning is Emphasized and woven into each chapter with margin icons highlighting planning opportunities. The fundamentals of tax planning and the impact of taxes on cash flow are introduced in the second chapter and then expanded on throughout the balance of the text, emphasizing the critical role that taxes play in decision making.

• Unique Case and Extensive Examples in Each Chapter! Each chapter-opening case introduces key issues while promoting critical analysis and decision making skills; the case is then revisited at the end of the chapter. Both the tax concepts and application are presented in the authors' clear, concise, and student-friendly writing style, which contributes to the students' ability to understand the rationale behind complex provisions while tackling rigorous topics through numerous simple but realistic examples.

• Outstanding End-of-Chapter Materials include more than 60 problems at the end of each chapter. Unique Think Outside the Text problems develop critical thinking skills. Develop Planning Skills problems provide opportunities for students to test their knowledge in planning situations and placing them in the role of a tax advisor. Comprehensive problems integrate topics covered in several different chapters. Research problems allow students to practice research using tax authorities available on the Internet and give students practice with the research and writing skills required to complete the tax simulations on the CPA exam. Sample filled-in tax returns and tax return problems (covering the four types of business entities as well as individuals) are included in an appendix at the end of the text so that an instructor can assign an entire tax return problem or portion of a problem at whichever point in the term best suits a particular class.

• Most Current Tax Text! This text incorporates changes made by Congress and new IRS pronouncements released after other texts that must be printed in early 2011, providing the most up-to-date text for your students. Completely updated for new legislation issued through April 2011.