Learn the complexities of the U.S. income tax code and master the most important areas of tax law with Whittenburg/Gill's concise, practical INCOME TAX FUNDAMENTALS 2019. This market-leading introduction to tax preparation uses a unique, step-by-step workbook format that integrates actual tax forms. You have the option to use Intuit ProConnect 2018 tax preparation software that accompanies each new book. A clear, up-to-date presentation walks you through real, current examples using the most recent actual tax forms. A variety of end-of-chapter problems offer hands-on practice with tax return problems that use source documents identical to those of real clients. In addition, numerous study tools and powerful online resources, including MindTap digital support and the CNOWv2 online homework tool, help you further refine the knowledge and skills to become a successful tax preparer.
1. The Individual Income Tax Return.
2. Gross Income and Exclusions.
3. Business Income and Expenses.
4. Additional Income and the Qualified Business Income Deduction.
5. Deductions For and From AGI.
6. Accounting Periods and Other Taxes.
7. Tax Credits.
8. Depreciation and Sale of Business Property.
9. Payroll, Estimated Payments, and Retirement Plans.
10. Partnership Taxation.
11. The Corporate Income Tax.
12. Tax Administration and Tax Planning.
Appendix A: Tax Rate Schedules and Tax Tables.
Appendix B: Earned Income Credit Table.
Appendix C: Withholding Tables.
Appendix D: Additional Comprehensive Tax Return Problems.
Appendix E: Solutions to Self-Study Problems.
Glossary of Tax Terms.
List of Forms.
List of Schedules.
List of Worksheets.
Gerald E. Whittenburg
As the original author of INCOME TAX FUNDAMENTALS, Dr. Gene Whittenburg was critical in designing the forms-based approach that has clarified and reshaped how students have learned income tax fundamentals for three decades. Although co-author and dear friend Dr. Whittenburg was unexpectedly lost in March of 2015, this edition continues to uphold his highest standard of publishing excellence. This edition furthers the insights and advancements that Dr. Whittenburg started in preparing learners to be successful tax preparers years ago.
Dr. Steven Gill is an associate professor in the Charles W. Lamden School of Accountancy at the Fowler College of Business at San Diego State University. He received a B.S. in accounting from the University of Florida (Gainesville, FL), an M.S. in taxation from Northeastern University (Boston, MA) and a Ph.D. in accounting (University of Massachusetts). Prior to entering academia, Dr. Gill worked for twelve years in the field of accounting, including roles in public accounting, internal audit, corporate accounting and, ultimately, vice president of finance. Dr. Gill's research interests include a concentration in taxation, including mutual funds and college savings ("529") plans and wider interests in tax compliance behavior. He has taught undergraduate and graduate levels and his teaching interests include taxation and both financial and managerial accounting. In addition to this best selling text, Dr. Gill serves as co-author of FEDERAL TAX RESEARCH.
UPDATES REFLECT THE LATEST CHANGES IN TAX LAW. This 2019 edition incorporates all of the tax law changes made through the time of publication, including the Tax Cuts and Jobs Act of 2017 and the Bipartisan Budget Act of 2018. New and complex tax law features, such as the qualified business income deduction for passthrough businesses and full expensing of personal property, are covered in the clear and concise presentation.
TAX RETURN PROBLEMS NOW INCLUDE MORE "REAL-LIFE" SOURCE DOCUMENTS. Students learn to work with actual documents, such as Form W-2, 1099s, trials balances and other realistic source documents. Using these actual documents in practice helps readers better understand what they will actually encounter in the tax return preparation process today.
REVISED END-OF-CHAPTER QUESTIONS AND PROBLEMS WORK SEAMLESSLY WITH CNOWv2. The author has carefully reviewed all problems in this edition and updated questions to ensure online homework using CNOWv2 is seamless and more consistent with the printed book.
WEALTH OF PROBLEMS AND PRACTICAL QUESTIONS OFFER HANDS-ON EXPERIENCE FOR STUDENTS. With this edition, you know that your students are practicing with the latest tax information available. This book’s proven end-of-chapter questions, tax return problems and test bank problems all reflect the dozens of standard changes, ranging from yearly cost of living tax rate increases to phase-ins and phase-outs of tax benefits.
THE MOST RECENT TAX LAWS ARE INTEGRATED THROUGHOUT THIS EDITION. All of the sweeping tax changes for the 2018 tax year are integrated seamlessly throughout this new edition. The author has carefully introduced the more complex changes, such as the qualified business income deduction for passthroughs, in a clear and easy to understand manner.
STUDENTS WORK WITH THE LATEST PROFESSIONAL INTUIT PROCONNECT 2018 SOFTWARE. Your students have the opportunity to use actual Intuit ProConnect software for tax year 2018, which is available with each new copy of the book. Students can actually solve many of the 2018 Individual Income Tax Return problems in the book using this professional tool. The software is easy to master with many helpful features, including access to useful tips, calculators, and the most current tax information.
INTERNAL REVENUE CODE SECTIONS AND QUICK TAX REFERENCE GUIDE PROVIDE IMPORTANT INFORMATION AT A GLANCE. Useful and convenient reference tools, including the important Internal Revenue Code Sections and Quick Tax Reference Guide, highlight critical information, such as the Tax Formula, in full color for easy reader reference.
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