Overview

The study of tax law can be an intimidating task.  Nevertheless, students wil find that being proficient in tax law can be very rewarding and prepares students for valuable career opportunities as accounting, tax advisors, and business consultants.  Once a student understands the organization of the Internal Revenue Code and the overall method of determining an individual taxpayer's tax liability, learning the more complex parts of the tax law can be put in perspective and approached in a more structured manner.Individual Taxation is designed for undergraduate students engaged in their initial study of the taxation of individuals. The text is intended for use in a single semester course. The purpose of this text is to present the fundamentals of determining gross income, exclusions, deductions, credits, etc. To accomplish this purpose, the text does not contain a comprehensive coverage of all possible unique exceptions and transactional variations. As a result, students can better understand the core important concepts rather than focusing on memorizing never-ending rules that often change. Straight-forward examples illustrate the impact of tax laws on common situations. Being proficient with the material contained in this text is essential for accounting students looking to advance their careers. The following features highlight the approach of this text: Reader-friendly language; Simple math so the student can focus on the concept, not the math; Shorter chapters to enhance retention and minimize reader fatigue; Direct quotations from the Internal Revenue Code so the student becomes familiar with it; Practical questions and problems; Straightforward tax return problems; Affordable text that provides enough material to cover a semester of study, but not so much that the instructor cannot effectively cover it all.

Full Product Details

Author:   Ryan Pace
Publisher:   Kendall/Hunt Publishing Co ,U.S.
Imprint:   Kendall/Hunt Publishing Co ,U.S.
Edition:   9th Revised edition
ISBN:  

9781792464782

ISBN 10:   1792464789
Pages:   277
Publication Date:   30 April 2021
Audience:   College/higher education ,  Tertiary & Higher Education
Format:   Paperback
Publisher's Status:   Active
Availability:   Temporarily unavailable  
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Table of Contents

Preface About the Author PART 1 INTRODUCTION TO INDIVIDUAL TAXATION Chapter 1 Tax Law in General Chapter 2 Individual Income Tax Formula and Tax Rates PART 2 FILING STATUS, PERSONAL AND DEPENDENCY EXEMPTIONS STANDARD DEDUCTION, AND FILING REQUIREMENTS Chapter 3 Filing Status Chapter 4 Exemptions and the Standard Deduction A. Personal Exemption Chapter 5 Filing Requirements, Interest and Penalties PART 3 INCLUSIONS IN GROSS INCOME Chapter 6 Gross Income Defined, Wages, Salaries, Tips, Business Income, Unemployment Compensation, and Social Security Benefits Chapter 7 Interest, Dividends, Capital Gains, Rental, and Royalty Income Chapter 8 Prizes, Awards, Tax Refunds, Alimony, and Other Income Chapter 9 Transactions in Property PART 4 EXCLUSIONS FROM GROSS INCOME Chapter 10 Common Exclusions from Gross Income Chapter 11 Exclusion of Employer-Provided Employee Benefits PART 5 DEDUCTIONS IN ARRIVING AT ADJUSTED GROSS INCOME (DEDUCTIONS FOR AGI) Chapter 12 Common Business Deductions Chapter 13 Losses and Bad Debts Chapter 14 Alimony, Moving Expenses, Educational Expenses, Student Loan Interest, and Tuition and Chapter 15 Individual Retirement Account Contributions, One-Half Self-Employment Tax, and Other PART 6 ITEMIZED DEDUCTIONS (DEDUCTIONS FROM AGI) Chapter 16 Medical Expenses, Taxes, and Interest Expense Chapter 17 Charitable Contributions PART 7 TAX CREDITS Chapter 18 Common Tax Credits for Individuals Chapter 19 Prepayments of Tax and Other Tax Credits PART 8 TIMING OF RECOGNIZING INCOME AND DEDUCTIONS Chapter 20 Taxable Year and Accounting Methods PART 9 SPECIAL TOPICS Chapter 21 Special Issues in Property Transactions Chapter 22 Qualified Retirement Plans and Deferred Compensation Arrangements Chapter 23 Vacation Homes and Sale of a Principal Residence Chapter 24 Alternative Minimum Tax Chapter 25 Overview of Partnership Taxation Chapter 26 Overview of Corporate Taxation Chapter 27 Overview of Other Taxes Chapter 28 Tax Audits and Appeals A. IRS Audits and Appeals Chapter 29 Overview of Tax Research Appendix of Forms Index

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