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eBook Details:
Full title: South-Western Federal Taxation 2021: Corporations, Partnerships, Estates and Trusts, 44th Edition
Edition: 44th
Copyright year: 2021
Publisher: Cengage Learning
Author: William A. Raabe; James C. Young; Annette Nellen
ISBN: 9780357359334, 9780357359808
Format: PDF
Description of South-Western Federal Taxation 2021: Corporations, Partnerships, Estates and Trusts, 44th Edition:
Gain a thorough understanding of corporate tax concepts and most current tax law with SOUTH-WESTERN FEDERAL TAXATION 2021: CORPORATIONS, PARTNERSHIPS, ESTATES & TRUSTS, 44E. This reader-friendly presentation emphasizes the latest tax law and changes impacting today’s corporations, partnerships, estates and trusts. You examine the most current tax law at the time of publication. Complete coverage of the Tax Cuts and Jobs Act of 2017 offers insights and guidance from the Treasury Department. Clear examples, summaries and tax scenarios further clarify concepts and help you sharpen critical-thinking, writing and research skills. Learn how taxes impact the corporate world today with this thorough coverage. You can even use this edition to prepare for the C.P.A. exam or Enrolled Agent exam or begin study for a career in tax accounting, financial reporting or auditing.Important Notice: Media content referenced within the product description or the product text may not be available in the ebook version.
Table of Contents of South-Western Federal Taxation 2021: Corporations, Partnerships, Estates and Trusts, 44th Edition PDF ebook:
PrefaceBrief ContentsContentsPart 1: IntroductionChapter 1: Understanding and Working with the Federal Tax LawThe Big Picture: Importance of Tax ResearchThe Whys of the Tax LawSummaryReconciling Accounting ConceptsWorking with the Tax Law-Tax SourcesConcept Summary: Federal Judicial SystemConcept Summary: Judicial SourcesWorking with the Tax Law-Locating and Using Tax SourcesFinancial Disclosure Insights: Where Does GAAP Come From?Working with the Tax Law-Tax ResearchEthics & Equity: Choosing Cases for AppealWorking with the Tax Law-Tax PlanningTaxation on the CPA ExaminationChapter 2: The Deduction for Qualified Business Income for Noncorporate TaxpayersThe Big Picture: Entrepreneurial PursuitsTax Treatment of Various Business FormsConcept Summary: Tax Treatment of Business Forms ComparedGlobal Tax Issues: U.S. Corporate Taxes and International Business CompetitivenessThe Tax Cuts and Jobs Act (TCJA) of 2017 and Entity Tax RatesThe Deduction for Qualified Business IncomeConcept Summary: An Overview of the 2020 Qualified Business Income DeductionTax PlanningRefocus on the Big Picture: Entrepreneurial PursuitsPart 2: CorporationsChapter 3: Corporations: Introduction and Operating RulesThe Big Picture: A Half-Baked Idea?An Introduction to the Income Taxation of CorporationsConcept Summary: Special Rules Applicable to Personal Service Corporations (PSCs)Ethics & Equity: Pushing the Envelope on Year-End PlanningConcept Summary: Income Taxation of Individuals and Corporations ComparedDetermining the Corporate Income Tax LiabilityProcedural MattersConcept Summary: Conceptual Diagram of Schedule M-1 (Form 1120)Tax PlanningRefocus on the Big Picture: Cooked to PerfectionChapter 4: Corporations: Organization and Capital StructureThe Big Picture: The Vehicle for Business Growth Is the Corporate FormOrganization of and Transfers to Controlled CorporationsGlobal Tax Issues: Tax Reform Adds a New Wrinkle to the Choice of Organizational Form When OperatingConcept Summary: Shareholder Consequences: Taxable Corporate Formation versus Tax-Deferred § 351 TrConcept Summary: Tax Consequences of Liability AssumptionConcept Summary: Tax Consequences to the Shareholders and Corporation: With and Without the ApplicatCapital Structure of a CorporationInvestor LossesEthics & Equity: Can a Loss Produce a Double Benefit?Gain from Qualified Small Business StockTax PlanningRefocus on the Big Picture: The Vehicle for Business Growth Is the Corporate FormChapter 5: Corporations: Earnings & Profits and Dividend DistributionsThe Big Picture: Taxing Corporate DistributionsCorporate Distributions-OverviewEarnings and Profits (E & P)-§ 312Concept Summary: E & P AdjustmentsConcept Summary: Allocating E & P to DistributionsEthics & Equity: Shifting E & PDividendsConcept Summary: Noncash Property DistributionsTax PlanningRefocus on the Big Picture: Taxing Corporate DistributionsChapter 6: Corporations: Redemptions and LiquidationsThe Big Picture: Family Corporations and Stock RedemptionsStock Redemptions-In GeneralStock Redemptions-Sale or Exchange TreatmentGlobal Tax Issues: Foreign Shareholders Prefer Sale or Exchange Treatment in Stock RedemptionsConcept Summary: Summary of the Qualifying Stock Redemption RulesConcept Summary: Tax Consequences of Stock Redemptions to ShareholdersStock Redemptions-Effect on the CorporationStock Redemptions-Preferred Stock BailoutsLiquidations-In GeneralLiquidations-Effect on the Distributing CorporationConcept Summary: Summary of Antistuffing Loss Disallowance RulesLiquidations-Effect on the ShareholderLiquidations-Parent-Subsidiary SituationsConcept Summary: Summary of Liquidation RulesGlobal Tax Issues: Basis Rules for Liquidations of Foreign SubsidiariesTax PlanningRefocus on the Big Picture: A Family Attribution Waiver is a Valuable Tool in Succession PlanningChapter 7: Corporations: ReorganizationsThe Big Picture: Structuring AcquisitionsReorganizations-In GeneralConcept Summary: Gain and Basis Rules for Nontaxable ExchangesConcept Summary: Basis to Acquiring Corporation of Property ReceivedTypes of Tax-Free ReorganizationsConcept Summary: Summary of Type A Through Type D Reorganizations: Advantages and DisadvantagesJudicial DoctrinesGlobal Tax Issues: How Has Tax Reform Affected Global M&A Activity?Ethics & Equity: Voicing Ethical ValuesFinancial Disclosure Insights: Acquisitions Can Have Negative ConsequencesTax Attribute CarryoversConcept Summary: Treatment of E & P Carried to SuccessorConcept Summary: Summary of Carryover RulesConcept Summary: Comprehensive Summary of Corporate ReorganizationsTax PlanningRefocus on the Big Picture: Structuring AcquisitionsChapter 8: Consolidated T?ax ReturnsThe Big Picture: A Corporation Contemplates a MergerThe Consolidated Return RulesEthics & Equity: Delegating Authority to the NonelectedAssessing Consolidated Return StatusFinancial Disclosure Insights: GAAP and Tax Treatment of ConsolidationsElecting Consolidated Return StatusConcept Summary: The Consolidated Return ElectionConcept Summary: The Consolidated Tax ReturnStock Basis of SubsidiaryComputing Consolidated Taxable IncomeGlobal Tax Issues: Consolidated Returns and NOLsConcept Summary: The Consolidated Taxable IncomeTax PlanningRefocus on the Big Picture: Should the Affiliated Group File a Consolidated Return?Chapter 9: Taxation of International TransactionsThe Big Picture: Going InternationalOverview of International TaxationGlobal Tax Issues: Tax Reform Can Make Strange BedfellowsTax TreatiesSourcing of Income and DeductionsConcept Summary: The Sourcing RulesEthics & Equity: The Costs of Good Tax PlanningForeign Currency Gain/LossU.S. Persons with Offshore IncomeFinancial Disclosure Insights: Overseas Operations and Book-Tax DifferencesConcept Summary: The Foreign Tax CreditConcept Summary: Subpart F Income and a CFCConcept Summary: Income of a CFC That Is Included in Gross Income of a U.S. Shareholder, SelectedU.S. Taxation of Nonresident Aliens and Foreign CorporationsReporting RequirementsTax PlanningRefocus on the Big Picture: Going InternationalPart 3: Flow-Through EntitiesChapter 10: Partnerships: Formation, Operation, and BasisThe Big Picture: Why Use a Partnership, Anyway?Overview of Partnership TaxationConcept Summary: Comparison of Partnership TypesFormation of a Partnership: Tax EffectsConcept Summary: Partnership Formation and Initial Basis ComputationPartnership Operations and ReportingFinancial Disclosure Insights: Financial Reporting for PartnershipsPartner Calculations and ReportingConcept Summary: Tax Reporting of Partnership ItemsEthics & Equity: Built-In Appreciation on Contributed PropertyGlobal Tax Issues: Withholding Requirements for non-U.S. PartnersOther Taxes on Partnership IncomeTax PlanningConcept Summary: Major Advantages and Disadvantages of the Partnership FormRefocus on the Big Picture: Why Use a Partnership, Anyway?Chapter 11: Partnerships: Distributions, Transfer of Interests, and TerminationsThe Big Picture: The Life Cycle of a PartnershipDistributions from a PartnershipEthics & Equity: Arranging Tax-Advantaged DistributionsConcept Summary: Proportionate Current Distributions (General Rules)Concept Summary: Proportionate Liquidating Distributions When the Partnership Also Liquidates (GenerSection 736-Liquidating Distributions to Retiring or Deceased PartnersConcept Summary: Liquidating Distributions of Cash When the Partnership ContinuesSale of a Partnership InterestConcept Summary: Sale of a Partnership InterestGlobal Tax Issues: A Partnership Isn’t Always a Partnership-Complications in the Global ArenaOther Dispositions of Partnership InterestsSection 754-Optional Adjustments to Property BasisConcept Summary: Basis Adjustments under § 754Termination of a PartnershipOther IssuesGlobal Tax Issues: Sale of Global Partnership InterestsTax PlanningRefocus on the Big Picture: The Life Cycle of a PartnershipChapter 12: S CorporationsThe Big Picture: Deductibility of Losses and the Choice of Business EntityChoice of Business EntityQualifying for S Corporation StatusOperational RulesConcept Summary: Classification Procedures for Distributions from an S CorporationConcept Summary: Consequences of Noncash DistributionsTax PlanningConcept Summary: Making an S ElectionRefocus on the Big Picture: Using a Pass-Through Entity to Achieve Deductibility of LossesPart 4: Advanced Tax Practice ConsiderationsChapter 13: Comparative Forms of Doing BusinessThe Big Picture: Selection of a Tax Entity FormForms of Doing BusinessNontax FactorsSingle Versus Double TaxationGlobal Tax Issues: Tax Rates and Economic ActivityControlling the Entity TaxConduit Versus Entity TreatmentEthics & Equity: Income Tax Basis That Does Not Change?FICA, Self-Employment Taxes, and NIITDisposition of a Business or an Ownership InterestConverting to other Entity TypesOverall Comparison of forms of Doing BusinessConcept Summary: Tax Attributes of Different Forms of Business (Assume That Partners and ShareholderTax PlanningRefocus on the Big Picture: Selection of a Tax Entity FormChapter 14: Taxes on the Financial StatementsThe Big Picture: Taxes in the Financial StatementsAccounting for Income Taxes-Basic PrinciplesConcept Summary: Common Book-Tax DifferencesCapturing, Measuring, and Recording Tax Expense-The Provision ProcessGlobal Tax Issues: Accounting for Income Taxes in International StandardsFinancial Disclosure Insights: The Book-Tax Income GapGlobal Tax Issues: Tax Losses and the Deferred Tax AssetTax Disclosures in the Financial StatementsConcept Summary: Steps in Determining the Book Tax ExpenseSpecial IssuesConcept Summary: Recognizing the Tax Benefits of Uncertain Tax Positions Under ASC 740-10Ethics & Equity: Disclosing Aggressive Tax PositionsBenchmarkingConcept Summary: Benchmarking AnalysisTax PlanningRefocus on the Big Picture: Taxes in the Financial StatementsChapter 15: Exempt EntitiesThe Big Picture: Effect of a For-Profit Business on a Tax-Exempt EntityTypes of Exempt OrganizationsCharacteristics of Exempt EntitiesConcept Summary: Consequences of Exempt StatusTaxes on Exempt EntitiesPrivate FoundationsConcept Summary: Exempt Organizations: ClassificationUnrelated Business Income TaxConcept Summary: Unrelated Business Income TaxReporting RequirementsTax PlanningRefocus on the Big Picture: Effect of a For-Profit Business on a Tax-Exempt EntityChapter 16: Multistate Corporate TaxationThe Big Picture: Making a Multistate Location DecisionCorporate State Income TaxationConcept Summary: Multistate TaxationApportionment and Allocation of IncomeConcept Summary: Apportionable IncomeFinancial Disclosure Insights: State/Local Taxes and the Tax ExpenseThe Unitary TheoryGlobal Tax Issues: Water’s Edge Is Not a Day at the BeachConcept Summary: Using Apportionment FormulasTaxation of S CorporationsTaxation of Partnerships and LLCSOther State and Local TaxesEthics & Equity: Encouraging Economic Development through Tax ConcessionsTax PlanningEthics & Equity: Can You Be a Nowhere Adviser?Refocus on the Big Picture: Making a Multistate Location DecisionChapter 17: Tax Practice and EthicsThe Big Picture: A Tax Adviser’s DilemmaTax AdministrationEthics & Equity: Tax Compliance CostsEthics & Equity: Can the IRS Pretend to be Your Friend?Ethics & Equity: Our Taxing System of Self-AssessmentConcept Summary: Working with the IRSEthics & Equity: First-Time Tax Violators Can Get Off with Just a WarningThe Tax Profession and Tax EthicsConcept Summary: Tax Profession and EthicsTax PlanningRefocus on the Big Picture: A Tax Adviser’s DilemmaPart 5: Family Tax PlanningChapter 18: The Federal Gift and Estate TaxesThe Big Picture: An Eventful and Final YearTransfer Taxes-In GeneralGlobal Tax Issues: U.S. Transfer Taxes and NRAsConcept Summary: Formula for the Federal Gift TaxConcept Summary: Formula for the Federal Estate TaxThe Federal Gift TaxEthics & Equity: It’s the Thought That CountsConcept Summary: Federal Gift Tax ProvisionsThe Federal Estate TaxConcept Summary: Federal Estate Tax Provisions-Gross EstateGlobal Tax Issues: Treaty Relief is not Abundant!Concept Summary: Federal Estate Tax Provisions-Taxable Estate and Procedural MattersThe Generation-Skipping Transfer TaxTax PlanningRefocus on the Big Picture: An Eventful and Final YearChapter 19: Family Tax PlanningThe Big Picture: Lifetime Giving-The Good and the BadValuation ConceptsEthics & Equity: One Way to Handle Loans to Troublesome In-LawsEthics & Equity: Can IRS Valuation Tables be Disregarded?Concept Summary: Valuation ConceptsIncome Tax ConceptsConcept Summary: Income Tax ConceptsGift PlanningEstate PlanningConcept Summary: Estate and Gift Tax PlanningRefocus on the Big Picture: Lifetime Giving-The Good and the BadChapter 20: Income Taxation of Trusts and EstatesThe Big Picture: Setting Up a Trust to Protect a FamilyAn Overview of Fiduciary TaxationNature of Trust and Estate TaxationConcept Summary: Tax Characteristics of Major Pass-Through EntitiesTaxable Income of Trusts and EstatesEthics & Equity: To Whom Can I Trust My Pet?Concept Summary: Uses of the DNI AmountConcept Summary: Principles of Fiduciary Income TaxationTaxation of BeneficiariesGrantor TrustsProcedural MattersTax PlanningEthics & Equity: Who Should Be a Trustee?Refocus on the Big Picture: Setting Up a Trust to Protect a FamilyAppendix A: Tax Rate Schedules and TablesAppendix B: Tax FormsAppendix C: GlossaryAppendix D-1: Table of Code Sections CitedAppendix D-2: Table of Regulations CitedAppendix D-3: Table of Revenue Procedures and Revenue Rulings CitedAppendix E: Table of Cases CitedAppendix F: Present Value and Future Value TablesAppendix G: Tax FormulasIndex
