Concepts in Federal Taxation 2021 (with Intuit ProConnect Tax Online 2019 and RIA Checkpoint® 1 term (6 months) Printed Access Card),
28th Edition

Kevin E. Murphy, Mark Higgins, Randy Skalberg

ISBN-13: 9780357141212 | ISBN-10: 0357141210

Copyright 2021

| Published 2020

| 936 pages

List Price USD $249.95


Master the concepts behind today’s federal taxation using the balanced, conceptual approach in Murphy/Higgins/Skalberg's CONCEPTS IN FEDERAL TAXATION 2021. You examine the latest tax codes and most recent changes for the current tax year in a clear, straightforward approach that prepares you for success on the CPA Exam. You learn the unifying concepts behind the Internal Revenue Code rather than memorizing details of the Code. Concepts and applications appear in brief, comprehensible segments that are ideal for CPA Exam review. In addition, examples relate concepts to familiar business scenarios with more opportunities for practice than any other book of this kind. CNOWv2 online homework tool helps optimizes study. Intuit® ProConnect software and RIA Checkpoint® Student Edition from Thomson Reuters also provide practice working with professional tax tools as you strengthen your understanding of taxation.

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Meet the Authors

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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 a professor of accounting and the former Edward Jones Dean of the Richard A. Chaifetz School of Business at Saint Louis University. 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).

Randy Skalberg, J.D., C.P.A., L.L.M. is an associate professor of accounting and chair of the department of accounting and finance at the University of Minnesota-Duluth. He earned his L.L.M. in taxation from Case Western Reserve University and his J.D. and B.S.B. in accounting from the University of Minnesota. He has published articles in Transportation Part A, The Transportation Journal, Today’s CPA and The Tennessee CPA Journal.

  • EXTENSIVE END-OF-CHAPTER APPLICATIONS OFFER NUMEROUS PRACTICE OPPORTUNITIES. Approximately 1,300 end-of-chapter applications in this edition provide more practice opportunities than any other text of this kind on the market. This large quantity of practice choices offers a significant variety of exercises, problems and cases for hands-on reinforcement.
  • END-OF-CHAPTER HOMEWORK PROBLEMS CLEARLY CORRESPOND TO SPECIFIC LEARNING OBJECTIVES AND SECTIONS OF THE TEXT. Each exercise or problem within this edition’s end-of-chapter homework corresponds to and references specific Learning Objectives from the book. Your students can easily locate the related sections of this edition's content for help or quick reference when completing homework assignments.
  • LATEST UPDATES REFLECT TODAY'S MOST RECENT TAX LAWS AND CHANGES. The authors carefully review and update this book each year to ensure all content integrates the latest federal tax laws and up-to-the-minute changes to tax codes and regulations. This edition enables you to keep your course as current as possible with most recent changes for the current tax year.
  • CURRENT EXERCISES PROVIDE HANDS-ON PRACTICE WORKING WITH THE MOST RECENT TAX CHANGES AND DEVELOPMENTS. All of the practical problems in this edition are thoroughly reviewed and revised, where needed, to reflect the latest changes in today's tax code.
  • POPULAR, PROFESSIONAL TAX SOFTWARE PREPARES STUDENTS FOR SUCCESS IN THE PROFESSIONAL TAX ENVIRONMENT. In addition to working with professional software from Intuit® ProConnect, students complete Tax Simulation Cases that help refine their tax research skills as well as their writing abilities that are critical for completing tax simulations on the CPA exam.
  • CENGAGENOWV2 COURSE MANAGEMENT SYSTEM HELPS YOU MOVE STUDENTS FROM MOTIVATION TO MASTERY. This effective online course management system and homework tool allows you to improve your students' learning experience and achieve desired outcomes with book-specific resources and numerous multimedia tools for your students. Flexible assignments and automatic grading save you time. A Personalized Adaptive Study Plan enables students to prepare for class and exams as well as master concepts, while an integrated eBook provides flexibility in price.
  • TAX PLANNING PROBLEMS IN THIS EDITION’S TEST BANK STRENGTHEN STUDENT COMPREHENSION. In addition to providing more practice exercises than any other book of its kind within the text, the authors have developed additional tax planning problems in this edition's Test Bank These up-to-date tax planning problems ensure your students understand key principles and have numerous, varied opportunities to practice the skills they're learning.
  • CONSISTENT APPROACH THROUGHOUT ALL PRACTICE OPPORTUNITIES REDUCES STUDENT CONFUSION. The authors consistently incorporate a proven approach throughout this edition. They clearly identify all separate question parts within a problem to avoid reader confusion and to ensure that readers are able to easily problem-solve.
  • LEADING PROFESSIONAL SOFTWARE PROVIDES IMPORTANT PRACTICAL EXPERIENCE. Each new copy of this edition includes access to Intuit® ProConnect software as well as Checkpoint® by Thomson Reuters (Student Edition) for professional experience. Intuit® ProConnect guides students through the tax return process. Checkpoint® Student Edition from Thomson Reuters helps students complete tax research with a comprehensive collection of primary tax laws, cases and rulings. Analytical insights and built-in productivity tools make research more efficient.
  • TAX FORM PREPARATION PROBLEMS CONNECT PRINCIPLES TO ACTUAL COMMON TAX SITUATIONS. Proven Tax Form Preparation Problems in each chapter link the concepts that students are learning to actual challenges and examples of tax preparation from today's business world.
  • CONCEPT CHECKS REINFORCE COMPREHENSION. Concept Checks, integrated throughout each chapter, separate this edition's presentation of concepts into manageable segments that are simple for students to master. This proven learning tool reinforces the principles of tax law while emphasizing the underlying principles that advance today's tax rules and regulations.
  • TAX SIMULATION CASES SHARPEN SKILLS. This edition's interesting Tax Simulation Cases help students refine their tax research skills as well as their writing abilities that are critical for completing tax simulations on the CPA exam. Students can complete this edition's Simulation Cases using only the Code and Regulations.

Table of Contents

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1. Federal Income Taxation-An Overview.
2. Income Tax Concepts.
3. Income Sources.
4. Income Exclusions.
5. Introduction to Business Expenses.
6. Business Expenses.
7. Losses-Deductions and Limitations.
8. Taxation of Individuals.
9. Acquisitions of Property.
10. Cost Recovery on Property: Depreciation, Depletion, and Amortization.
11. Property Dispositions.
12. Non-recognition Transactions.
13. Choice of Business Entity-General Tax and Nontax Factors/Formation.
14. Choice of Business Entity-Operations and Distributions.
15. Choice of Business Entity-Other Considerations.
16. Tax Research.
Appendix A: Tax Return Problem.
Appendix B: Tax Rate Schedules and Tax Tables.
Appendix C: Statements on Standards for Tax Service (available online).
Appendix D: How to Decode the Code.

Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.

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Concepts in Federal Taxation 2021 (with Intuit ProConnect Tax Online 2019 and RIA Checkpoint® 1 term (6 months) Printed Access Card)

  • ISBN-10: 0357141210
  • ISBN-13: 9780357141212

Price USD$ 249.95


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