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South-Western Federal Taxation 2021: Essentials of Taxation: Individuals and Business Entities (with Intuit ProConnect Tax Online & RIA CheckPoint® 1 term Printed Access Card),
24th Edition

William H. Hoffman, Jr., David M. Maloney, William A. Raabe, James C. Young, David M. Maloney

ISBN-13: 9780357359341 | ISBN-10: 0357359348

Copyright 2021

| Published 2020

| 992 pages

List Price USD $249.95

Overview

Gain an understanding of today's tax concepts and ever-changing laws with the concise, reader-friendly SOUTH-WESTERN FEDERAL TAXATION 2021: ESSENTIALS OF TAXATION: INDIVIDUALS AND BUSINESS ENTITIES, 24E. You master key taxation concepts and applications for success in accounting and taxation. You can also use this resource to prepare for the C.P.A. or Enrolled Agent Exam. This edition examines the most current tax law, from recent tax law changes to complete coverage of the Tax Cuts and Jobs Act of 2017 with related guidance from the Treasury Department. Concise coverage highlights the most important rules and concepts on income, deductions and losses, property transactions, business entities, multi-jurisdictional taxation, as well as taxes on financial statements. Clear examples, summaries and tax scenarios further clarify concepts and sharpen critical-thinking, writing and research skills. Each new book includes instant access to Intuit® ProConnect tax software, Checkpoint® (Student Edition) from Thomson Reuters, CengageNOWv2 online homework solution and MindTap Reader.

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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.

David M. Maloney, Ph.D., C.P.A., is the Carman G. Blough Professor of Accounting Emeritus at the University of Virginia’s McIntire School of Commerce. He completed his undergraduate work at the University of Richmond and his graduate work at the University of Illinois at Urbana-Champaign. Upon joining the University of Virginia faculty, Dr. Maloney taught federal taxation in the graduate and undergraduate programs and was a recipient of major research grants from the Ernst & Young and KPMG Foundations. Dr. Maloney has published work in numerous professional journals, including Journal of Taxation, The Tax Adviser, Tax Notes, Corporate Taxation, Accounting Horizons, Journal of Taxation of Investments and Journal of Accountancy.

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 include international and multistate taxation, technology in tax education, personal financial planning and the economic impact of sports teams and fine arts groups. Dr. Raabe also writes the PricewaterhouseCoopers Tax Case Studies. He 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) and the PricewaterhouseCoopers Extreme Tax policy competition (coaching a national finalist). For more information about Dr. Raabe, visit BillRaabeTax. com and BillRaabeTax on YouTube and Twitter.

James C. Young, Ph.D., C.P.A., is the PricewaterhouseCoopers Professor of Accountancy at Northern Illinois University. He earned his B.S. from Ferris State University and his M.B.A. and Ph.D. from Michigan State University. Dr. Young's research focuses on taxpayer responses to the income tax using archival data. His dissertation received the PricewaterhouseCoopers/American Taxation Association Dissertation Award and his subsequent research has received funding from a number of organizations, including the Ernst & Young Foundation Tax Research Grant Program. His work has been published in a variety of academic and professional journals, including the National Tax Journal, The Journal of the American Taxation Association and Tax Notes. Honored as a Northern Illinois University Distinguished Professor, Dr. Young received the Illinois C.P.A. Society Outstanding Accounting Educator Award in 2012. In addition, he has received numerous university teaching awards from Northern Illinois University, George Mason University and Michigan State University.

David M. Maloney, Ph.D., C.P.A., is the Carman G. Blough Professor of Accounting Emeritus at the University of Virginia’s McIntire School of Commerce. He completed his undergraduate work at the University of Richmond and his graduate work at the University of Illinois at Urbana-Champaign. Upon joining the University of Virginia faculty, Dr. Maloney taught federal taxation in the graduate and undergraduate programs and was a recipient of major research grants from the Ernst & Young and KPMG Foundations. Dr. Maloney has published work in numerous professional journals, including Journal of Taxation, The Tax Adviser, Tax Notes, Corporate Taxation, Accounting Horizons, Journal of Taxation of Investments and Journal of Accountancy.

  • NEW 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.
  • 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.
  • CURRENT PROFESSIONAL TAX SOFTWARE AND TOP-RATED C.P.A. REVIEW TOOLS PREPARE STUDENTS FOR CAREER SUCCESS IN TODAY'S PROFESSIONAL TAX ENVIRONMENT. This edition offers the most current professional tax software from Intuit® ProConnect as well as invaluable C.P.A. review questions from Becker, one of today's top C.P.A. review resources.
  • TAX FORM PROBLEMS HIGHLIGHT KEY SKILLS AND CURRENT CHALLENGES. This edition's new problems demonstrate how to overcome today's most challenging issues in 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.
  • MORE PRACTICE OPPORTUNITIES AND INDEPENDENT STUDY RESOURCES PROVIDE TOOLS FOR MASTERING CONCEPTS AND INDEPENDENT STUDY. This edition's printed book and digital resources, such as CengageNOWv2, 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 hands-on tools to practice skills and learn independently.
  • 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.
  • 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.
  • 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 CengageNOWv2.
  • VARIETY OF PROVEN LEARNING FEATURES HELPS STUDENTS DEVELOP PROFESSIONAL SKILLS. Each chapter connects the tax topics to other disciplines, such as economics and finance, as well as financial reporting. 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 develop analytical skills.
  • "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.
  • 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. Tax software from Intuit® ProConnect provides an authentic and professional tax preparation experience, while research and data analytics problems help students strengthen additional skills for the business world.
  • 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.
  • 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.
  • CENGAGENOWV2 OPTIMIZES STUDENT LEARNING AND ENGAGEMENT. CengageNOWv2 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.

Table of Contents

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Part I: THE WORLD OF TAXATION.
1. Introduction to Taxation.
2. Working with the Tax Law.
3. Taxes in the Financial Statements.
Part II: STRUCTURE OF THE FEDERAL INCOME TAX.
4. Gross Income.
5. Business Deductions.
6. Losses and Loss Limitations.
Part III: PROPERTY TRANSACTIONS.
7. Property Transactions: Basis, Gain and Loss, and Nontaxable Exchanges.
8. Property Transactions: Capital Gains and Losses, Section 1231, and Recapture Provisions.
Part IV: TAXATION OF INDIVIDUALS.
9. Individuals as Taxpayers.
10. Individuals: Income, Deductions, and Credits.
11. Individuals as Employees and Proprietors.
Part V: BUSINESS ENTITIES.
12. Corporations: Organization, Capital Structure, and Operating Rules.
13. Corporations: Earnings & Profits and Distributions.
14. Partnerships and Limited Liability Entities.
15. S Corporations.
Part VI: SPECIAL BUSINESS TOPICS.
16. Multijurisdictional Taxation.
17. Business Tax Credits and Corporate Alternative Minimum Tax.
18. Comparative Forms of Doing Business.
Appendix A: Tax Rate Schedules and Tables.
Appendix B: Tax Forms.
Appendix C: Glossary.
Appendix D: Table of Code Sections Cited, Table of Regulations Cited, Table of Revenue Procedures and Revenue Rulings Cited.
Appendix E: Table of Cases Cited.
Appendix F: Present Value and Future Value Tables.
Appendix G: Tax Formulas.
Index.
Online Appendix on Affordable Care Act Provisions.

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 Companion Website for Nellen/Cuccia/Persellin/Young/Maloney's South-Western Federal Taxation 2021: Essentials of Taxation: Individuals and Business Entities

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South-Western Federal Taxation 2021: Essentials of Taxation: Individuals and Business Entities (Book Only)

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Instructor's Manual (Internal Only) for Nellen/Cuccia/Persellin/Young/Maloney's South-Western Federal Taxation 2021: Essentials of Taxation: Individuals and Business Entities

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South-Western Federal Taxation 2021

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Solutions Manual (Internal Only) for Nellen/Cuccia/Persellin/Young/Maloney's South-Western Federal Taxation 2021: Essentials of Taxation: Individuals and Business Entities

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South-Western Federal Taxation 2021

  • ISBN-10: 0357359348
  • ISBN-13: 9780357359341

Price USD$ 249.95

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