Overview

Fundamentals of Taxation 2024 Edition emphasizes a hands-on approach to tax education. It's a Taxation textbook designed to expose beginning tax students to tax law, but to also teach the practical intricacies involved in the preparation of tax forms and tax returns.   To train tomorrow's tax preparers to handle the complex U.S. tax law, the Fundamentals of Taxation author team has devised four primary teaching advantages:   • Organized to closely follow the IRS tax forms. Actual tax forms are incorporated throughout the text, giving students the opportunity to understand the principles behind tax law while they learn how to work with clients to obtain the information, they will need to complete tax forms.   • Proper reporting of tax issues are illustrated. The authors present a tax issue, discuss the legal requirements, illustrate the proper tax form placement, and show the completed form in the text, mixing practical and legal implications of tax preparation.   • Integration of an individual income tax software package (TaxACT). The authors supplement the text with citations of relevant tax authorities, such as the Internal Revenue Code, Treasury Regulations, Revenue Rulings, Revenue Procedures, and court cases. 

Full Product Details

Author:   Ana Cruz ,  Michael Deschamps ,  Frederick Niswander ,  Debra Prendergast
Publisher:   McGraw-Hill Education
Imprint:   McGraw-Hill Education
Edition:   17th edition
Weight:   1.386kg
ISBN:  

9781265676988

ISBN 10:   1265676984
Pages:   784
Publication Date:   17 January 2024
Audience:   College/higher education ,  Tertiary & Higher Education
Replaced By:   1265023255
Format:   Paperback
Publisher's Status:   Active
Availability:   In Print  
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Table of Contents

Chapter 1: Introduction to Taxation, the Income Tax Formula, and Form 1040  Chapter 2: Expanded Tax Formula, Form 1040, and Basic Concepts  Chapter 3: Gross Income: Inclusions and Exclusions  Chapter 4: Adjustments for Adjusted Gross Income  Chapter 5: Itemized Deductions  Chapter 6: Self-Employed Business Income (Line 3 of Schedule 1 and Schedule C)  Chapter 7: Capital Gains and Other Sales of Property (Schedule D and Form 4797)  Chapter 8: Rental Property, Royalties, and Income from Flow- Through Entities (Line 5, Schedule 1, and Schedule E)  Chapter 9: Tax Credits (Form 1040, Lines 19, 20, 27 through 29, and 31, Schedule 3, Lines 1 through 14)  Chapter 10: Payroll Taxes  Chapter 11: Retirement and Other Tax-Deferred Plans and Annuities  Chapter 12: Special Property Transactions  Chapter 13: At-Risk/Passive Activity Loss Rules and the Individual Alternative Minimum Tax  Chapter 14: Partnership Taxation  Chapter 15: Corporate Taxation 

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Author Information

Dr. Ana Cruz is Chair of the Business Department at Miami Dade College, Wolfson Campus, where she utilizes her extensive experience in the areas of general business, management, accounting, and taxes. She has worked in the service, retailing, and manufacturing industries, as well as in the federal government sector, where she served as a field examiner for the Internal Revenue Service. Dr. Cruz, a certified public accountant, has published several articles in business journals, has participated in several SACS On-Site Committees, and has received the Southeast Banking Corporation Foundation Endowed Teaching Chair (1998) and the Wolfson Senior Foundation Endowed Teaching Chair (2002). She was also named the Professor of the Year for the State of Florida by the Council for Advancement and Support of Education and the Carnegie Foundation (2005). Michael P. Deschamps received a bachelor of science degree in accounting, graduating magna cum laude from the University of San Diego, where he served as the chapter president for Beta Alpha Psi, the accounting honor society. After working in public accounting and obtaining his CPA license, he returned to San Diego State University, where he earned a master's degree in taxation and a certificate in financial planning. In addition, he earned his Enrolled Agent Certificate in 2004. HE is currently the lead accounting instructor at MiraCosta College in Oceanside, CA, where he has developed a highly regarded tax program certified by the State of California. He is an active member of Teachers of Accounting at Two Year Colleges (TACTYC) and has been a frequent presenter on tax topics at the organization's national conventions. He has also given presentations on tax issues to a variety of organizations. Dr. Frederick (Rick) Niswander is Vice Chancellor for Administration and Finance at East Carolina University. He holds a doctor of philosophy degree from Texas A&M University and a bachelor of science in business administration degree from Idaho State University. He has taught introductory financial accounting, international accounting, intermediate accounting, and a graduate accounting course that encompasses taxation, financial, and governmental accounting. Prior to obtaining his doctorate and joining the ECU faculty in 1993, he was the chief financial officer of a privately held real estate company in Phoenix, Arizona, for eight years. Dr. Niswander first became a CPA in 1981 and has been a North Carolina CPA since 1994. He is a member of the North Carolina Association of CPAs, the American Institute of Certified Public Accountants, and the American Accounting Association. He has held leadership roles in the American Institute of CPAs including chair of the Board of Examiner and as a member of the AIPCA Board of Directors. Dr. Debra Prendergast has a doctor of philosophy degree in public policy from the University of Illinois at Chicago, a master's of business administration degree from Governors State University, and a bachelor of arts degree in business administration with a concentration in accounting from Saint Xavier University in Chicago. She is a licensed and practicing certified public accountant in Illinois and a certified management accountant. She began her professional accounting career as a management advisory services consultant with Grant Thornton before taking a position as the controller for a corporation in Chicago. To spend more time with her family, she left her controller position in 1988 and began a 21-year career with Northwestern College. In 2010, Dr. Prendergast became the dean of Business, Mathematics, and Science at Prairie State College. She served as an officer on the board of Teachers of Accounting at Two Year Colleges (TACTYC) and on the Precertification Education Executive committee of the AICPA. Dr. Dan Schisler is a Professor and Research Fellow in the Accounting Department at East Carolina University. He holds a doctor of philosophy degree from Memphis State University, a master's degree in accounting- tax concentration from Auburn University, and a bachelor of science degree in accounting from Southeastern Louisiana University. In addition to public accounting experience with Peat Marwick Main & CO, Dr. Schisler has published numerous articles in national academic and practitioner journals such as Journal of the American Taxation Association, Advances in Taxation, and Accounting Horizons. HE teaching tax and accounting at the graduate and undergraduate levels at East Carolina, where he has been recognized for teaching excellence by numerous teaching awards at the department, school, and university levels. Dr. Schisler holds CPA certificates in North Carolina and Louisiana.

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