South-Western Federal Taxation 2021: Comprehensive (with Intuit ProConnect Tax Online & RIA Checkpoint®, 1 term Printed Access Card),
44th Edition

William H. Hoffman, Jr., William A. Raabe, Mark Persellin

ISBN-13: 9780357359310 | ISBN-10: 0357359313

Copyright 2021

| Published 2020

| 1504 pages

List Price USD $274.95


Gain a thorough understanding of today's tax concepts and current tax law with SOUTH-WESTERN FEDERAL TAXATION 2021: COMPREHENSIVE, 44E and accompanying professional tax software. This reader-friendly presentation emphasizes the latest tax law and recent changes impacting individuals, corporations, partnerships, estates and trusts and financial statements. You examine tax law changes as recent as 2020 with complete coverage of the Tax Cuts and Jobs Act of 2017 and related guidance from the Treasury Department. Clear examples, summaries and tax scenarios clarify concepts and sharpen your critical-thinking, writing and research skills. Each new book includes instant access to Intuit® ProConnect tax software, Checkpoint® (Student Edition) from Thomson Reuters, CNOWv2 online homework solution and MindTap Reader. Discover how an understanding of today's taxes can benefit you as you prepare for the C.P.A. or the Enrolled Agent exam or pursue a career in tax accounting, financial reporting or auditing.

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Meet the Authors

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Dr. William H. Hoffman, Jr., earned his B.A. and J.D. degrees from the University of Michigan before serving in the Korean War as an officer in the U.S. Army’s Judge Advocate General Corps. Following his return from military service, he completed his M.B.A. and Ph.D. degrees from The University of Texas at Austin. Dr. Hoffman was a licensed C.P.A. and attorney in Texas. Recognized for his teaching excellence, Dr. Hoffman's academic experience included working with The University of Texas, Louisiana State University and the University of Houston. During his time in Houston, Dr. Hoffman served as a professor, mentor and doctoral adviser to countless students and colleagues. Between 1977 and 1980, he established what is now the SOUTH-WESTERN FEDERAL TAXATION SERIES. A frequently requested professional speaker, Dr. Hoffman addressed many tax institutes and conferences and published extensively in academic and professional journals. His articles have appeared in The Journal of Taxation, The Tax Adviser, Taxes–The Tax Magazine, The Journal of Accountancy, The Accounting Review and Taxation for Accountants.

William A. Raabe, Ph.D., C.P.A., was the University of Wisconsin Distinguished Professor of Taxation. He taught at Ohio State, Arizona State, the Capital University (Ohio) Law School and the Universities of Wisconsin (Milwaukee and Whitewater). A graduate of Carroll University (Wisconsin) and the University of Illinois, Dr. Raabe’s teaching and research interests have included international and multistate taxation, technology in tax education, personal financial planning and the economic impact of sports teams and fine arts groups. Dr. Raabe has also written the PricewaterhouseCoopers Tax Case Studies and has written extensively about book-tax differences in financial reporting. Dr. Raabe has served as a visiting tax faculty member for a number of public accounting firms, bar associations and C.P.A. societies. He has received numerous teaching awards, including the Accounting Educator of the Year award from the Wisconsin Institute of C.P.A.s. He has been the faculty adviser for student teams in the Deloitte Tax Case Competition (coaching national finalists at three different schools) as well as the PricewaterhouseCoopers Extreme Tax policy competition (coaching a national finalist).

Mark B. Persellin, Ph.D., C.P.A., C.F.P.®, is the Ray and Dorothy Berend Professor of Accounting at St. Mary’s University. He earned his bachelor’s degree from the University of Arizona, his Master of Public Administration in taxation from the University of Texas at Austin and his doctorate from the University of Houston. Today, Dr. Persellin teaches personal income tax, business income tax and research in federal taxation. Prior to joining St. Mary’s University, Dr. Persellin taught at Florida Atlantic University and Southwest Texas University (Texas State University). He also worked on the tax staff of a Big Four firm. Dr. Persellin's research has been published in numerous academic and professional journals, including The Journal of American Taxation Association, The Accounting Educators’ Journal, The Tax Adviser, The CPA Journal, Journal of Taxation, Corporate Taxation, The Tax Executive, TAXES – The Tax Magazine, Journal of International Taxation, and Practical Tax Strategies. In 2003, Dr. Persellin established the St. Mary’s University Volunteer Income Tax Assistance (VITA) site, and he continues to serve as a trainer and reviewer for the site.

  • FULLY UPDATED, REVISED CONTENT REFLECTS TODAY'S LATEST TAX CHANGES AND REFORMS. Up-to-date coverage details the most current tax legislation for individual taxpayers, as of the time of publication. Students are able to examine today's most recent tax law changes with complete coverage of the Tax Cuts and Jobs Act of 2017.
  • MEMORABLE LEARNING VIDEOS HELP STUDENTS THOROUGHLY UNDERSTAND AND APPLY TAX CONCEPTS. Engaging videos with practical applications strengthen your students' comprehension and ensure learners understand how to complete end-of-chapter homework successfully.
  • ADDITIONAL PRACTICE OPPORTUNITIES AND INDEPENDENT STUDY RESOURCES PROVIDE TOOLS FOR MASTERING CONCEPTS. This edition's printed text and digital resources, such as CNOWv2, work seamlessly to help ensure that your students have the tax skills and thorough understanding of today's tax concepts that they need to succeed. Students can use these tools to practice skills and learn independently.
  • TAX FORM PROBLEMS HIGHLIGHT KEY SKILLS AND CURRENT CHALLENGES. This edition's new problems demonstrate how to overcome today's most challenging issues in individual income tax preparation. These up-to-date problems also help students refine critical-thinking skills. They provide focused opportunities for additional practice and broaden your options for assigning homework.
  • VARIETY OF PROVEN LEARNING FEATURES HELPS STUDENTS DEVELOP PROFESSIONAL SKILLS. "Ethics and Equity" features spark critical thinking and discussion as students evaluate their own value systems while reviewing ethical scenarios. A separate section in most chapters details how to apply the tax law to reach taxpayer's goals. Tax planning applications also appear throughout each chapter. "Global Tax Issues" illustrate tax laws across the globe and highlight how international concerns impact taxation. In addition, Decision-Making Problems help students refine analytical skills.
  • PRACTICAL TAX SCENARIOS BEGIN AND CONCLUDE EACH CHAPTER. The "Big Picture: Tax Solutions for the Real World" examines lives, careers and tax situations of typical tax filers. Each "Big Picture" case asks students to develop the best tax solution for real-life dilemmas. Four examples in the chapter relate to the "Big Picture" tax situation. End-of-chapter "Refocus on the Big Picture" summaries and tax planning scenarios apply chapter concepts to professional solutions. A "What If?" section also demonstrates how tax treatments can vary as the filer's situation changes.
  • EMPHASIS ON CRITICAL THINKING EQUIPS STUDENTS TO MEET TODAY'S TAX CHALLENGES. This edition's end-of-chapter homework assignments focus on critical thinking to help students develop this and other crucial skills needed in taxation and business today.
  • END-OF-CHAPTER COMPUTATIONAL EXERCISES PROVIDE ESSENTIAL PRACTICE. Your students gain significant hands-on experience and practice with Computational Exercises in most chapters. These exercises encourage students to apply what they've learned while reinforcing the chapter's Learning Objectives.
  • PROVEN TAX RETURN FORM PROBLEMS PROVIDE ADDITIONAL ONLINE PRACTICE. Your students gain important practice in mastering the specific income taxation skills they need with the variety of up-to-date practice opportunities and independent study resources in CNOWv2.
  • CUMULATIVE TAX RETURN PROBLEMS CHALLENGE STUDENTS TO APPLY TAX KNOWLEDGE FROM PREVIOUS SECTIONS. Students apply the concepts they've mastered as they complete actual tax forms. Professional tax software from Intuit® ProConnect provides an authentic and professional tax preparation experience.
  • IN-CHAPTER "EXAMPLES" IMMEDIATELY CLARIFY AND REINFORCE CONCEPTS. This book's unique "Example" presentation uses memorable, clear taxation examples that make it easy for students to read and quickly understand even complex taxation concepts.
  • END-OF-CHAPTER C.P.A. REVIEW QUESTIONS FROM BECKER PREPARE STUDENTS FOR SUCCESS ON TODAY'S C.P.A. EXAM. Students review key concepts using proven questions from Becker Professional Education® -- one of the industry's most effective tools to prepare for the C.P.A. Exam.
  • CNOWv2 OPTIMIZES STUDENT LEARNING AND ENGAGEMENT. CNOWv2 is built around the way students learn, study and complete homework. End-of-chapter homework from this edition, "What If" versions of problems, algorithmic problems, detailed feedback, test bank questions, thorough tagging and student video resources create an effective learning environment. An Adaptive Study Plan and an assignable, gradable study center adjust to each student's unique needs, providing a remediation pathway to keep every learner on track.
  • CURRENT PROFESSIONAL TAX SOFTWARE PREPARES STUDENTS FOR REAL WORK IN TODAY'S TAX ENVIRONMENT. Students gain experience using professional software from Intuit® ProConnect. They also answer C.P.A. review questions from Becker Professional Education® -- one of today's top C.P.A. review tools -- as they prepare for success.
  • "TAXATION IN THE REAL-WORLD" BLOG HELPS YOU BRING THE LATEST TOPICS INTO YOUR CLASSROOM. Drawn from today's current business and popular press, the "Taxation in the Real World" blog features timely articles that enliven class discussions. The blog highlights contemporary issues that illustrate the chapter material and apply the concepts students are learning to real life.

Table of Contents

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1. An Introduction to Taxation and Understanding the Federal Tax Law.
2. Working with the Tax Law.
3. Computing the Tax.
4. Gross Income: Concepts and Inclusions.
5. Gross Income: Exclusions.
6. Deductions and Losses: In General.
7. Deductions and Losses: Certain Business Expenses and Losses.
8. Depreciation, Cost Recovery, Amortization, and Depletion.
9. Deductions: Employee and Self-Employed-Related Expenses.
10. Deductions and Losses: Certain Itemized Deductions.
11. Investor Losses.
12. Tax Credits and Payments.
13. Property Transactions: Determination of Gain or Loss, Basis Considerations, and Nontaxable Exchanges.
14. Property Transactions: Capital Gains and Losses, Section 1231, and
Recapture Provisions.
15.The Deduction for Qualified Business Income for Noncorporate Taxpayers.
16. Accounting Periods and Methods.
17. Corporations: Introduction and Operating Rules.
18. Corporations: Organization and Capital Structure.
19. Corporations: Distributions Not in Complete Liquidation.
20. Corporations: Distributions in Complete Liquidation and an Overview of Reorganizations.
21. Partnerships.
22. S Corporations.
23. Exempt Entities.
24. Multistate Corporate Taxation.
25. Taxation of International Transactions.
26. Tax Practice and Ethics.
27. The Federal Gift and Estate Taxes.
28. Income Taxation of Trusts and Estates.
Appendix A: Tax Rate Schedules and Tables.
Appendix B: Tax Forms.
Appendix C: Glossary of Tax Terms.
Appendix D: Table of Code Sections Cited, Table of Regulations Cited,
Table of Revenue Procedures and Revenue Rulings Cited.
Appendix E: Comprehensive Tax Return Problems.
Appendix F: Tax Formulas.
Appendix G: Present Value and Future Values Tables.

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.

Instructor's Manual (Internal Only) for Young/Nellen/Raabe/Hoffman/Maloney's South-Western Federal Taxation 2021: Individual Income Taxes


South-Western Federal Taxation 2021

South-Western Federal Taxation 2021: Comprehensive, Loose-leaf Version

South-Western Federal Taxation 2021, Loose-leaf Version


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Cengage Testing, powered by Cognero® is a flexible, online system that allows you to import, edit, and manipulate content from the text’s test bank or elsewhere, including your own favorite test questions; create multiple test versions in an instant; and deliver tests from your LMS, your classroom, or wherever you want.

South-Western Federal Taxation 2021 (Book Only)


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Everything you need for your course in one place! This collection of product-specific lecture and class tools is available online via the instructor resource center at www.cengage.com/login. You'll be able to access and download materials such as PowerPoint® presentations, images, instructor’s manual, videos, and more.

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South-Western Federal Taxation 2021

  • ISBN-10: 0357359313
  • ISBN-13: 9780357359310

Price USD$ 274.95


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