Concepts in Federal Taxation 2019 (with Intuit ProConnect Tax Online 2017 and RIA Checkpoint® 1 term (6 months) Printed Access Card),
26th Edition

Kevin E. Murphy, Mark Higgins

ISBN-13: 9781337702621 | ISBN-10: 1337702625

Copyright 2019

| Published 2018

| 928 pages

List Price USD $249.95


Master the nuances of today’s federal taxation using the balanced, conceptual approach in Murphy/Higgins’ CONCEPTS IN FEDERAL TAXATION 2019. This edition presents the latest tax codes and changes for the most recent tax year using a clear, straightforward approach. You focus on understanding the unifying concepts behind the Internal Revenue Code rather than memorizing the 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 while a wealth of exercises provides more 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 with professional tax tools as you strengthen your conceptual 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).

  • CNOWv2 ADAPTIVE STUDY PLAN CUSTOMIZES LEARNING TO EACH STUDENT'S UNIQUE NEEDS. The unique CNOWv2 Adaptive Study Plan provides an assignable and gradable study center that adapts to each of your student's unique needs. This helpful remediation pathway keeps students progressing.
  • UPDATED EXERCISES PROVIDE HANDS-ON PRACTICE WORKING WITH THE LATEST 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.
  • 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 reflects the latest federal tax laws and up-to-the-minute changes to tax codes and regulations. Keep your course as current as possible with most recent changes for the current tax year.
  • New LEADING professional tax software prepare students for work in today's tax world. Students work with software from Intuit® ProConnect and answer CPA review questions from Becker as they prepare for success.
  • UPDATED MINI TAX RETURN PROBLEMS PROVIDE ADDITIONAL PRACTICE IN CNOWv2. With even more practice opportunities and independent study resources than ever before, this edition's wealth of CNOWv2 online resources helps ensure that your students have the practice and learning tools they need to succeed.
  • STRONG CONSISTENCY WITHIN THE AUTHOR'S APPROACH TO ALL PRACTICE ELIMINATES STUDENT CONFUSION. The authors clearly identify all separate question parts within a problem to avoid any reader confusion and to ensure that readers are able to easily problem-solve.
  • STRONG END-OF-CHAPTER APPLICATIONS PROVIDE IMPORTANT PRACTICE. Approximately 1,300 end-of-chapter applications in this edition provide more practice opportunities than any other text on the market. This large quantity of practice choices offers more varied exercises, problems, and cases for hands-on reinforcement.
  • LEADING PROFESSIONAL SOFTWARE PROVIDES INVALUABLE HANDS-ON EXPERIENCE. Each new copy of this text includes access to Intuit ProConnect software as well as Checkpoint® by Thomson Reuters (Student Edition) for professional experience. Intuit ProConnect guides users 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 SIMULATION CASES SHARPEN SKILLS. Students refine the research and writing skills that are most critical for completing tax simulations on the CPA exam with this edition's helpful Tax Simulation Cases. Students can complete these Simulation Cases using only the Code and Regulations.
  • CONCEPT CHECKS REINFORCE STUDENT COMPREHENSION. Concept Checks, integrated throughout each chapter, separate the text material into manageable segments. This proven learning tool reinforces the concepts of tax law while emphasizing the underlying principles that drive today's tax rules and regulations.
  • TAX PLANNING PROBLEMS IN THIS EDITION’S TEST BANK ARE DESIGNED TO PROMOTE COMPREHENSION. This edition's timely Test Bank includes more tax planning problems to ensure your students understand important principles and have ample opportunities to practice the skills they've learned.
  • CENGAGENOWV2 HELPS STUDENTS MOVE FROM MOTIVATION TO MASTERY. This powerful online course management system and online homework tool allows you to optimize the learning experience and meet desired outcomes with book-specific resources and numerous multimedia tools for your students. Flexible assignments and automatic grading save you time. The Personalized Study Plan enables students to master concepts, prepare for exams, and participate in class, while an integrated eBook provides flexibility in price.
  • END-OF-CHAPTER HOMEWORK CLEARLY CORRESPONDS TO LEARNING OBJECTIVES. Each exercise or problem within this edition’s end-of-chapter homework references specific Learning Objectives from the book. Students are able to easily locate the related sections of this edition's content for help and quick reference when completing homework assignments.
  • TAX FORM PREPARATION PROBLEMS CONNECT CONCEPTS TO ACTUAL COMMON TAX SITUATIONS. Proven Tax Form Preparation Problems in each chapter link the concepts being discussed to actual examples of tax preparation from today's business world.

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)

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.

Concepts in Federal Taxation 2019 Edition (Book Only)


Instructor's Companion Website for Murphy/Higgins' Concepts in Federal Taxation 2019, 26th

This website provides valuable study resources for your students. They can access chapter-by-chapter study material. Instructor support material is also housed at this site. You'll find convenient online access to the Test Bank, PowerPoint® slides, Solutions Manual, and Instructor's Manual, all password-protected.



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Concepts in Federal Taxation 2019 (with Intuit ProConnect Tax Online 2017 and RIA Checkpoint® 1 term (6 months) Printed Access Card)

  • ISBN-10: 1337702625
  • ISBN-13: 9781337702621

Price USD$ 249.95


*Purchase not available for this country