Federal Income Tax: Examples and Explanations
For an effective combination of examples and explanations And The proper tone to illuminate tax law and policy, turn to this proven study guide. FEDERAL INCOME TAX: Examples & Explanations, Fourth Edition, gives students a clear understanding of the Code and Regulations without oversimplifying the topic. The authors build a secure platform for understanding: unique Examples & Explanations series style combines textual material with well-written examples, explanations, and questions to test student comprehension of the materials and to provide practice in applying information to fact patterns comprehensive coverage combines cases, statutory, and regulatory analysis compatibility with a wide variety of casebooks clear and straightforward writing style helps to demystify a difficult and intimidating subject Exam Appendix includes eight actual law school exams, complete with suggested answers numerous policy questions appear throughout the text logical organization helps students progress through the material helpful introductions explain the concepts to be studied the book has been thoroughly updated for its Fourth Edition: reflects changes in the tax law since 2001, including those resulting from the Jobs and Growth Tax Relief Reconciliation Act of 2003, The Working Families Tax Relief Act of 2004, And The American Jobs Creation Act of 2004. includes new and updated examples and explanations Thousands of students have already benefited from the clarity and quality of FEDERAL INCOME TAX: Examples & Explanations. Be sure to recommend the Fourth Edition to your students.
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25 percent accrual method activity adjusted basis adjusted gross income alimony allocated allowed to deduct amount realized annual annuity answer apply Assume beneﬁciary bracket business expense capital asset capital gain capital loss casualty loss closing inventory Commissioner compensation consumption tax contribution corporation cost court debt deferred deﬁned deﬁnition depreciation deductions donor earned employee example exceeds exchange exclude exemption fair market value ﬁnancial ﬁrst ﬁve gift Haig-Simons home ofﬁce Hope Scholarship income tax incurred indebtedness inﬂation interest investment itemized deductions lease less LIFO limited loan material participation meals medical expenses nonrecourse nonrecourse debt option ordinary income paid partnership payment present value proﬁt provides purchase qualiﬁed residence qualify real property realized gain received recognized recovery reduced rental rules Section sells sold speciﬁc tax consequences tax treatment tax-free taxable income tion trade or business transaction transfer treated trust widgets