Concepts in Federal Taxation 2012, Professional Version / Edition 19

by Kevin E. Murphy

Overview

Murphy and Higgins' CONCEPTS IN FEDERAL TAXATION 2012 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 2012 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? software to provide your students with additional professional experience!

Product Details

ISBN-13:	2900538479447
Publisher:	Cengage Learning
Publication date:	04/15/2011
Edition description:	Older Edition
Pages:	933
Product dimensions:	6.50(w) x 1.50(h) x 9.50(d)

About the Author

A professor at Oklahoma State University, Kevin E. Murphy earned his Ph.D. at the University of Wisconsin-Madison and his B.S. and M.S. in Accounting at Utah State University. He has published articles in the Journal of the American Taxation Association and the Journal of Accounting Education. Dr. Murphy is a member of the American Accounting Association and the American Taxation Association.

Mark Higgins, is Dean and The Alfred J. Verrecchia and Hasbro Inc. Leadership Chair in Business at the University of Rhode Island. He earned his Ph.D. at the University of Tennessee and his B.S. and M.S. in Accounting at the University of South Carolina. He has articles published in Accounting Historians Journal, Journal of Accounting Education, Taxation for Accountants, Critical perspectives in Accounting, Journal of Legal Tax Research, The CPA Journal, and The Tax Adviser. He is also a Certified Public Accountant (inactive).

Table of Contents

Part I: EXPLORING THE TAX ENVIRONMENT. 1. Types of Taxes and the Jurisdictions That Use Them. 2. Tax Policy Issues: Standards for a Good Tax. Part II: FUNDAMENTALS OF TAX PLANNING. 3. Taxes as Transaction Costs. 4. Maxims of Income Tax Planning. 5. Tax Research. Part III: THE MEASUREMENT OF TAXABLE INCOME. 6. Taxable Income From Business Operations. 7. Property Acquisitions and Cost Recovery Deductions. Appendix 7-A Midquarter Convention Tables. 8. Property Dispositions. 9. Nontaxable Exchanges. Part IV: THE TAXATION OF BUSINESS INCOME. 10. Sole Proprietorships, Partnerships, LLCs, and S Corporations. 11. The Corporate Taxpayer. Appendix 11-A Schedule M-3 for Reconciling Book and Taxable Income. 12. The Choice of Business Entity. 13. Jurisdictional Issues in Business Taxation. Part V: THE INDIVIDUAL TAXPAYER. 14. The Individual Tax Formula. Appendix 14-A Itemized Deduction Worksheet. Appendix 14-B Federal Transfer Tax Rates (2009). 15. Compensation and Retirement Planning . 16. Investment and Personal Financial Planning. Appendix 16-A Comprehensive Schedule D Problem. Appendix 16-B Federal Transfer Tax Rates (2009). 17. Tax Consequences of Personal Activities. Appendix 17-A Social Security Worksheet. Part VI: THE TAX COMPLIANCE PROCESS. 18. The Tax Compliance Process.