Murphy and Higgins take a more conceptual, less technical approach to federal taxation. The conceptual approach emphasizes aspects of the tax system that remain stable over time and focuses on the tax treatment of transactions that are common to all entities.
A professor emeritus at Oklahoma State University, Dr. 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.
Dr. 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).
PART 1: CONCEPTUAL FOUNDATIONS OF THE TAX LAW. 1. Federal Income Taxation - An Overview. 2. Income Tax Concepts. PART II: GROSS INCOME. 3. Income Sources. 4. Income Exclusions. PART III: DEDUCTIONS. 5. Introduction to Business Expenses. 6. Business Expenses. 7. Losses - Deductions and Limitations. 8. Taxation and Individuals. Appendix to Chapter 8. PART IV: PROPERTY TRANSACTIONS. 9. Acquisitions of Property. 10. Cost Recovery on Property: Depreciation. 11. Property Dispositions. 12. Nonrecognition Transactions. PART V: INCOME TAX ENTITIES. 13. Choice of Business Entity--Part I. 14. Choice of Business Entity--Part II. PART VI: RESEARCH. 15. Tax Research. Appendices: Tax Rate Schedules and Tax Tables, Tax Return Problem, Tax Forms, Statements on Responsibilities in Tax Practices. Glossary. Index.