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PH's Federal Taxation 2005 : Principles

by: Pope, Thomas R.; Anderson, Kenneth E.

PH's Federal Taxation 2005 : Principles

by: Pope, Thomas R.; Anderson, Kenneth E.

ISBN 13:
9780131474055
ISBN 10:
0131474057
Edition: 18th
Format: Hardcover
Copyright: 01/01/2005
Publisher: Prentice Hall
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Summary

Written by nationally recognized tax educators, this acclaimed three-volume series provides a hands-on, definitive guide to federal income taxation concepts and applications. Stressing quality, readability and accuracy, it combines practical, comprehensive coverage with a learner-friendly presentation.Coverage reflects the increased coverage of Business Entities, and all changes in the tax lawincluding complete coverage of the Jobs and Growth Tax Relief Reconciliation Act of 2003.For accountants and income tax preparers.

(NOTE: P = Principles (previous called Individuals) ; C = Corporate; Most chapters conclude with Tax Planning Considerations, Compliance and Procedural Considerations, and Problem Materials.)
P-1. An Introduction to Taxation
History of Taxation in the United States
Types of Tax Rate Structures
Types of Taxes
Criteria for a Tax Structure
Objectives of the Federal Income Tax Law
Tax Law Sources
Enactment of a Tax Law
Administration of the Tax Law and Tax Practice Issues
Components of a Tax Practice
Computer Applications in Tax Practice
P-2. Determination of Tax
Formula for Individual Income Tax
Deductions from Adjusted Gross Income
Determining the Amount of Tax
Corporate Tax Formula and Rates
Treatment of Capital Gains and Losses
P-3. Gross Income-Inclusions
Economic and Accounting Concepts of Income
Tax Concept of Income
to Whom Is Income Taxable?
When Is Income Taxable?
Items of Gross Income-Sec. 61(a)
Other Items of Gross Income
P-4. Gross Income-Exclusions
Items That Are Not Income
Major Statutory Exclusions
P-5. Property Transactions-Capital Gains and Losses
Determination of Gain or Loss
Basis Considerations
Definition of a Capital Asset
Tax Treatment for Capital Gains and Losses of Noncorporate Taxpayers
Sale or Exchange
Holding Period
Preferential Treatment for Net Capital Gains
P-6. Deductions and Losses
General Restrictions on the Deductibility of Expenses
Proper Substantiation Requirement
When an Expense Is Deductible
Special Disallowance Rules
P-7. Itemized Deductions
Medical Expenses
Taxes
Interest
Charitable Contributions
Casualty and Theft Losses
Miscellaneous Itemized Deductions
Reduction of Certain Itemized Deductions
P-8. Losses and Bad Debts
Transactions That May Result in Losses
Classifying the Loss on the Taxpayer''s Tax Return
Passive Losses
Casualty and Theft Losses
Bad Debts
Net Operating Losses
P-9. Employee Expenses and Deferred Compensation
Classification of Employee Expenses
Travel Expenses
Transportation Expenses
Entertainment Expenses
Reimbursed Employee Business Expenses
Moving Expenses
Education Expenses
Office in Home Expenses
Deferred Compensation
P-10. Depreciation, Cost Recovery, Amortization, and Depletion
Amortization
P-11. Accounting Periods and Methods
Accounting Periods
Overall Accounting Methods
Inventories
Special Accounting Methods
Imputed Interest
Change in Accounting Methods
P-12. Property Transactions-Nontaxable Exchanges
Like-Kind Exchanges
Involuntary Conversions
Sale of Principal Residence
P-13. Property Transactions-Sec. 1231 and Recapture
History of Sec. 1231
Overview of Basic Tax Treatment for Sec. 1231
Section 1231 Property
Involuntary Conversions
Procedure for Sec. 1231 Treatment
Recapture Provisions of Sec. 1245
Recapture Provisions of Sec. 1250
Additional Recapture for Corporations
Recapture Provisions-Other Applications
P-14. Special Tax Computation Methods, Tax Credits, and Payment of Tax
Alternative Minimum Tax
Self-Employment Tax
Overview of Tax Credits
Personal Tax Credits
Miscellaneous Credits
General Business Credits
Refundable Credits
Payment of Taxes
C-1. Tax Research
Overview of Tax Research
Steps in the Tax Research Process
Importance of the Facts to the Tax Consequences
The Sources of Tax Law
Tax Services
Citators
Computers as a Research Tool
Statements on Responsibilities in Tax Practice
Sample Work Papers and Client Letter
C-2. Corporate Formations and Capital Structure
Organization Forms Available
Check-the-Box Regulations
Legal Requirements for Forming a Corporation
Tax Considerations in Forming a Corporation
Section 351: Deferring Gain or Loss Upon Incorporation
Choice of Capital Structure
Worthlessness of Stock or Debt Obligations
C-3. The Corporate Income Tax
Corporate Elections
Computing a Corporation''s Taxable Income
Computing a Corporation''s Tax Liability
Controlled Groups of Corporations
C-4. Corporate Nonliquidating Distributions
Nonliquidating Distributions in General
Earnings and Profits (E&P)
Nonliquidating Property Distributions
Stock Dividends and Stock Rights
Stock Redemptions
Preferred Stock Bailouts
Stock Redemptions by Related Corporations
C-5. Other Corporate Tax Levies
Tax Corporate Alternative Minimum Tax
Personal Holding Company Tax
Accumulated Earnings Tax
C-6. Corporate Liquidating Distributions
Overview of Corporate Liquidations
General Liquidation Rules
Liquidation of a Controlled Subsidiary Corporation
Special Shareholder Reporting Issues
Special Corporate Reporting Issues
Recognition of Gain or Loss When Property Is Distributed in Retirement of Debt
C-7. Corporate Acquisitions and Reorganizations
Taxable Acquisition Transactions
Comparison of Taxable and Tax-Free Acquisitions
Types of Reorganizations
Tax Consequences of Reorganizations
Acquisitive Reorganizations
Divisive Reorganizations
Other Reorganization Transactions
Judicial Restrictions on the Use of Corporate Reorganizations
Tax Attributes
C-8. Consolidated Tax Returns
Source of the Consolidated Tax Return Rules
Definition of an Affiliated Group
Should a Consolidated Return be Filed?
Consolidated Taxable Income
Intercompany Transactions
Dividends Received by Group Members
Consolidated Charitable Contributions Deduction
Net Operating Losses (NOLs)
Consolidated Capital Gains and Losses
Computation of the Affiliated Group''s Tax Liability
Consolidated Tax Credits, Stock Basis Adjustments
C-9. Partnership Formation and Operation
Definition of a Partnership
Overview of Taxation of Partnership Income
Tax Implications of Formation of a Partnership
Partnership Elections
Partnership Reporting of Income
Partner Reporting of Income
Basis for Partnership Interest
Special Loss Limitations
Transactions between a Partner and the Partnership
Family Partnerships
C-10. Special Partnership Issues
Nonliquidating Distributions
Nonliquidating Distributions With Sec. 751
Terminating an Interest in a Partnership
Optional Basis Adjustments
Special Forms of Partnerships
C-11. S Corporations

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Amazon no longer offers textbook rentals. We do!

PH's Federal Taxation 2005 : Principles

PH's Federal Taxation 2005 : Principles

9780131474055

0131474057

Summary

Table of Contents

Supplemental Materials

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Amazon no longer offers textbook rentals. We do!

PH's Federal Taxation 2005 : Principles

PH's Federal Taxation 2005 : Principles

9780131474055

0131474057

Summary

Table of Contents

Supplemental Materials

Write a Review

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