Prentice Hall's Federal Taxation 2002

Prentice Hall's Federal Taxation 2002 : Corporations, Partnerships, Estates, and Trusts

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A practical approach to federal taxation of corporations, partnerships, estates, and trusts, this volume is appropriate for a one-semester undergraduate or graduate-level second taxation course in accounting.Written by nationally recognized tax educators, this acclaimed three-volume series provides a hands-on, definitive guide to federal income taxation concepts and applications. Stressing quality, readability and accuracy, it combines comprehensive coverage with instructional flexibility in what may be the most practical student-oriented series of more

Product details

  • Hardback | 928 pages
  • 210.82 x 279.4 x 35.56mm | 1,587.57g
  • Pearson Education (US)
  • Pearson
  • United States
  • English
  • 013055071X
  • 9780130550712

Table of contents

(NOTE: All chapters include sections on Tax Planning Considerations and Compliance and Procedural Considerations, except 1 and 16 . All chapters also include Problem Materials.)1. Tax Research. Overview of Tax Research. Steps in the Tax Research Process. Importance of the Facts to the Tax Results. The Sources of Tax Law. Tax Services. Citators. Computers as a Research Tool. Statements on Standards for Tax Services. Sample Work Papers and Client Letter.2. Corporate Formations and Capital Structure. Organization Forms Available. Check-the-Box Regulations. Legal Requirements for Forming a Corporation. Tax Considerations in Forming a Corporation. Section 351: Deferring Gain or Loss Upon Incorporation. Choice of Capital Structure. Worthlessness of Stock or Debt Obligations.3. The Corporate Income Tax. Corporate Elections. General Formula for Determining the Corporate Tax Liability. Computing a Corporation's Taxable Income. Computing a Corporation's Income Tax Liability. Controlled Groups of Corporations.4. Corporate Nonliquidating Distributions. Nonliquidating Distributions in General. Earnings and Profits (E&P). Nonliquidating Property Distributions. Stock Dividends and Stock Rights. Stock Redemptions. Preferred Stock Bailouts. Stock Redemptions by Related Corporations.5. Other Corporate Tax Levies. The Corporate Alternative Minimum Tax. Personal Holding Company Tax. Accumulated Earnings Tax.6. Corporate Liquidating Distributions. Overview of Corporate Liquidations. General Liquidation Rules. Liquidation of a Controlled Subsidiary Corporation. Special Shareholder Reporting Issues. Special Corporate Reporting Issues. Recognition of Gain or Loss When Property Is Distributed in Retirement of Debt.7. Corporate Acquisitions and Reorganizations. Taxable Acquisition Transactions. Comparison of Taxable and Tax-Free Acquisition. Types of Reorganizations. Tax Consequences of Reorganizations. Acquisitive Reorganizations. Divisive Reorganizations. Other Reorganization Transactions. Judicial Restrictions on the Use of Corporate Reorganizations. Tax Attributes.8. Consolidated Tax Returns. Source of the Consolidated Tax Return Rules. Definition of an Affiliated Group. Should a Consolidated Return be Filed? Consolidated Taxable Income. Computation of the Affiliated Group's Tax Liability. Intercompany Transactions. Dividends Received by Group Members. Consolidated Charitable Contributions Deduction. Net Operating Losses (NOLs). Consolidated Capital Gains and Losses. Stock Basis Adjustments.9. Partnership Formation and Operation. Definition of a Partnership. Overview of Partnership Taxation. Tax Implications of Formation of a Partnership. Partnership Elections. Partnership Reporting of Income. Partner Reporting of Income. Basis for Partnership Interest. Special Loss Limitations. Transactions Between a Partner and the Partnership. Family Partnerships.10. Special Partnership Issues. Nonliquidating Distributions. Nonliquidating Distributions with Sec. 751. Terminating an Interest in a Partnership. Optional Basis Adjustments. Special Forms of Partnerships.11. S Corporations. Should an S Corporation Election be Made? S Corporation Requirements. Election of S Corporation Status. S Corporation Operations. Taxation of the Shareholder. Basis Adjustments. S Corporation Distributions. Other Rules.12. The Gift Tax. Concept of Transfer Taxes. The Unified Transfer Tax System. Gift Tax Formula. Transfers Subject to the Gift Tax. Exclusions. Gift Tax Deductions. The Gift-Splitting Election. Computation of the Gift Tax Liability. Comprehensive Illustration. Basis Considerations for a Lifetime Giving Plan. Below-Market Loans: Gift and Income Tax Consequences.13. The Estate Tax. Estate Tax Formula. The Gross Estate: Valuation. The Gross Estate: Inclusions. Deductions. Computation of Tax Liability. Comprehensive Illustration. Liquidity Concerns. Generation-Skipping Transfer Tax.14. Income Taxation of Trusts and Estates. Basic Concepts. Principles of Fiduciary Accounting. Formula for Taxable Income and Tax Liability. Distributable Net Income. Determining a Simple Trust's Taxable Income. Comprehensive Illustration: Determining a Simple Trust's Taxable Income. Determining Taxable Income for Complex Trusts and Estates. Comprehensive Illustration: Determining a Complex Trust's Taxable Income. Income in Respect of a Decedent. Grantor Trust Provisions.15. Administrative Procedures. Role of the Internal Revenue Service. Audits of Tax Returns. Requests for Rulings. Due Dates. Failure-to-File and Failure-to-Pay Penalties. Other More Severe Penalties. Statute of Limitations. Liability for Tax. Tax Practice Issues.16. U.S. Taxation of Foreign-Related Transactions. Jurisdiction to Tax. Taxation of U.S. Citizens and Resident Aliens. Taxation of Nonresident Aliens. Taxation of U.S. Business Operating Abroad.Appendix A: Tax Research Working Paper File. Appendix B: Completed Tax Forms. Appendix C: MACRS and ACRS Tables. Appendix D: Glossary. Appendix E: Statements on Standards for Tax Services. Appendix F: Comparisons of Tax Attributes for C Corporations, Partnerships, and S Corporations. Appendix G: Credits for State Death Taxes. Appendix H: Actuarial Tables. Appendix I: Index of Code Sections. Appendix J: Index of Treasury Regulations. Appendix K: Index of Government Promulgations. Appendix L: Index of Court Cases. Appendix M: Subject more

About Kenneth E. Anderson

Anna C. Fowler is the John Arch White Professor in the Department of Accounting at the University of Texas at Austin. She received her B.S. in accounting from the University of Alabama and her M.B.A. and Ph.D. from the University of Texas at Austin. Active in the American Taxation Association, she has served on the editorial board of its journal and has held many positions, including president, within the organization. She is also active with the American Institute of CPAs and currently serves on the Executive committee of its Tax Division. Currently, Professor Fowler is a member of the Board of Trustees of the Educational Foundation of the Texas Society of CPAs. She has published a number of articles, most of which have dealt with estate planning or real estate transaction issues. She also is a frequent speaker before professional organizations on estate planning topics. Richard J. Joseph is a Senior Lecturer in Taxation at The University of Texas at Austin McCombs School of Business. He also is Director of the Master of Professional Accounting Program and the Professional Program in Accounting. A graduate magna cum laude of Harvard College (B.A.), Oxford University (M.Litt.), and The University of Texas School of Law (J.D.), Mr. Joseph has taught individual, corporate, international and interstate taxation, tax research methods, tax issues in business management, and the fundamentals of financial and managerial accounting. A former Adjunct Professor at the University of Texas at Arlington, he also has taught contract, corporate, securities, agency, and partnership law. Before embarking on his academic career, Mr. Joseph worked as an investment banker at Lehman Brothers, securities trader at Bear Steams, and as a mergers and acquisitions lawyer for the Bass Group. He has published articles on tax equity, the consumption and flat taxes, and the theory of contract formation. Susan L. Nordhauser is a professor at the University of Texas at San Antonio. She received her B.A. from Cornell University, her M.S. from Purdue University, and her Ph.D. from the University of Texas at Austin. She has published many articles on taxation in journals including The Journal of the American Taxation Association, The Accounting Review, The Tax Adviser, and The National Tax Journal. Nordhauser is the recipient of the 1992 Ernst & Young Tax Literature Award. She has served on the editorial board of several academic tax journals. Michael S. Schadewald is an Associate Professor of Accounting and Director of the Deloitte & Touche Center for Multistate Taxation at the University of Wisconsin-Milwaukee. He holds a Ph.D. from the University of Minnesota, an M.S. from the University of Wisconsin-Milwaukee, and a B.B.A. from the University of Wisconsin-Whitewater. He has co-authored a book on international taxation and has published over 30 articles in a number of accounting and tax journals, including The Journal of the American Taxation Association, The Accounting Review, Contemporay Accounting Research, and The Journal o f Taxation. He serves on the editorial boards of The Journal o f the American Taxation Association, International Tax Journal, Issues in Accounting Education, and Journal o f Accounting Education. He has been awarded numerous research grants and fellowships by Big-Five accounting firms and has worked in the Milwaukee office of Arthur Young (now part of Ernst & Young) prior to entering more

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