Authors/Editors : CCH Tax Law Editorial Staff and Outside Contributing Editors, Linda Johnson
ISBN : 978-0-8080-2343-2 Date Published : 3/10
Suggested List Price: $126.00 Net Bookstore Price: $100.80
The CCH Principles of Business Taxation course approaches the study of taxation from the perspective of the student who will become a business person faced with business decisions that are inevitably affected by tax considerations. This perspective leads to a very different coverage in this textbook -- coverage that is useful for accounting, finance and general business majors.
The new edition focuses on the central concepts that build our tax framework and avoids small exceptions and details to ensure that the student can confidently master the critical underpinnings of federal taxation. It abandons minutia that not only affects a very small number of taxpayers, but also tends to change often. In this way, there are no wasted motions and students gain a stronger, more solid understanding of federal tax principles.
Many items that pertain specifically to businesses (for example, inventory valuation issues) usually not discussed in a traditional undergraduate tax textbook are covered in this book. Although so many of the exclusions, deductions, and credits apply equally to individual and corporate taxpayers, this book focuses on the business perspective. An advantage to this approach is that most of the students who take only one course in taxation will learn how businesses are taxed and, in turn, will have a better appreciation for how taxes affect business decisions. Another advantage to this approach is that the topics dovetail into other business, finance and accounting course work.
While the focus is on concepts and how taxes affect business decisions, individual income taxation is not abandoned. After all, many core tax concepts apply to individuals as well as businesses, and the Principles of Business Taxation course is not shy in pointing out such application. The book also includes a special chapter on individuals (sole proprietorships) and one on pass-through entities that tie together the underlying threads concerned with these taxpayers throughout the text.
PART I: OVERVIEW OF TAXES AND THE FEDERAL INCOME TAX SYSTEM
Chapter 1: Introduction to Taxation
I. Introduction
II. Society's Need for Taxes
III. Who Should Bear the Tax Burden?
IV. Characteristics of a "Good" Tax
V. Other Considerations Used in Assessing a Tax
VI. Types of Taxes
VII. The Importance of Studying Federal Income Taxes Imposed on Businesses
Chapter 2: Understanding the Tax Laws
I. Introduction
II. Brief History of Federal Income Tax
III. Understanding Federal Tax Law
IV. Federal Tax Research
PART II: FEDERAL TAXATION OF BUSINESS INCOME AND DEDUCTIONS
Chapter 3: Tax Accounting Rules
I. Introduction
II. Accounting Periods
III. Accounting Methods
Chapter 4: Overview of the Taxable Income and the Calculation of Taxes Owed
I. Gross Income (Income Minus Exclusions)
II. Taxable Income (Gross Income Minus Deductions)
III. Taxes Owed (Tax Liability Minus Tax Credits Minus Estimated Payments)
Chapter 5: Gross Income
I. Introduction
II. Gross Income Defined
III. Gross Profit
IV. Dividend Income
V. Interest Income
VI. Other Items of Gross Income
Chapter 6: Business Deductions: Ordinary and Necessary Business Expenses
I. Introduction
II. Elements of a Business Expense
III. Interest, Taxes, and Carrying Charges
IV. Research and Experimentation
V. Manufacturer's Deduction
VI. Bad Debts
VII. Charitable Contributions
Chapter 7: Business Deductions: Employment-related Expenses
I. Introduction
II. Employee Compensation
III. Meals and Entertainment
IV. Travel and Transportation
V. Education
VI. Employment taxes
PART III: TRANSACTIONS INVOLVING BUSINESS PROPERTY
Chapter 8: Property Transactions: Depreciation, Depletion and Amortization
I. Introduction
II. Overview of Depreciation
III. Depreciation of Personal Property
IV. Depreciation of Real Property
V. Depletion
VI. Amortization of Intangibles
Chapter 9: Property Transactions: Realized and Recognized Gains and Losses
I. Introduction
II. Realized Gains and Losses
III. Recognized Gains and Losses
Chapter 10: Property Transactions: Character of Gain or Loss
I. Introduction
II. Capital Gains and Losses
III. Section 1231 Gains and Losses
IV. The Netting Process
PART IV: CALCULATING TAX LIABILITY AND TAXES OWED
Chapter 11: NOLs, AMT and the AET
I. Introduction
II. Net Operating Losses
III. Alternative Minimum Tax
IV. Taxes Imposed on Excessive Corporate Accumulations
Chapter 12: Tax Credits
I. Introduction
II. Tax Credits
III. Foreign Tax Credit
IV. General Business Credit
V. Disabled Access Credit
PART V: SPECIFIC BUSINESS ENTITY ISSUES
Chapter 13: Corporate Distributions and Schedules M-1, M-2 and M-3
I. Introduction
II. Corporate Distributions
III. Reconciliation of Net Income and Taxable Income
Chapter 14: The Sole Proprietorship
I. Introduction
II. Taxable Income Formula
III. NOLs, Tax Rates and AMT
IV. Employment Issues
V. Passive Activity Loss and Hobby Loss Rules
Chapter 15: Flow-Through Entities: Partnerships, LLPs and LLCs
I. Introduction
II. Tax and Nontax Aspects of Flow-through Entities
III. Forming a Partnership
IV. Operating the Partnership
V. Adjustments to Basis of Partner's Interest
VI. Partnership vs. LLC
Chapter 16: Flow-Through Entities: S Corporations
I. Introduction
II. Advantages and Disadvantages of S Corporation Versus Other Entity Choices
III. Operating an S Corporation
IV. Special Rules
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Receive a Bonus Teaching Package with a One-Year Subscription to IntelliConnect™ Library FREE When You Adopt the CCH Principles of Business Taxation!
A complete package of teaching and learning aids is available free with the 2009 Edition of CCH's Principles of Business Taxation, when adopted in quantities of 10 or more. Upon request, you can receive, at no additional charge:
Your choice of either a one-year subscription to IntelliConnect™ Library or our two-volume Internal Revenue Code and six-volume Income Tax Regulations bound sets.
A loose-leaf Instructor's Guide, complete with suggested course structures, examination problems and answers, and solutions to end-of-chapter problems.
CCH CLASSROOM ADVANTAGE™ Instructor's Guide, Electronic Testmaker and Slide Presentation CD-ROM, containing PDF files of the loose-leaf Instructor's Guide, customizable exam questions/solutions, Microsoft® PowerPoint® slides to enhance classroom presentations, and Respondus-ready test bank files.
A copy of CCH Federal Tax Study Manual (2009 Edition) featuring summaries and outlines explaining concepts presented in Basic Tax I and Corporate Tax II courses (student purchase optional). Also includes self-study questions and problems (with solutions) covering key concepts of federal taxation.
CCH® Study MATE™
CCH® Study MATE™ is an online learning center for college students. The Study MATE Fundamental Topics library was created to supplement CCH tax textbooks.
This library covers the most important concepts in CCH Federal Taxation:
Comprehensive Topics
CCH Federal Taxation: Basic Principles
Federal Tax Course
Essentials of Federal Income Taxation for Individuals and Business
The courses are not textbook-specific and can even be used with competitor’s textbooks. Adopting schools will be provided with free access to the Fundamentals library for one year. Courses are also available for purchase to non-adopting students. These courses provide college students with an easy online tutor to help them with difficult concepts or test them on their knowledge, and professors can easily assign the courses as homework without having to worry about grading.
To view the courses available visit http://www.cchstudymate.com/. Adopters can obtain an information packet and an access code by sending an e-mail to studymate@cch.com, including their name, school name, mailing address, and the name of the textbook they have adopted. For information on access to Study MATE for non-adopters, send an e-mail message to studymate@cch.com.
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To order Principles of Business Taxation , use the following specifications:
Title:
Principles of Business Taxation
Authors:
CCH Tax Law Editorial Staff and Outside Contributing Editors, Linda Johnson
Prices:
$126.00 List/ $100.80 Net (Reflects 20% Bookstore Discount)
Availability:
3/10
Item Number:
0-4630-400
ISBN:
978-0-8080-2343-2
Publisher:
CCH Tax and Accounting
Attn:
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