Test Bank for Taxation for Decision Makers, 2019 Edition 9th Edition

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Product details:

• ISBN-10 ‏ : ‎ 1119497280
• ISBN-13 ‏ : ‎ 978-1119497288
• Author: Shirley Dennis-Escoffier

Taxation for Decision Makers, 2019 Edition is designed for a one-semester introductory tax course at either the undergraduate or graduate level. It is ideal for an MBA course or any program emphasizing a decision-making approach. This text introduces all tax topics on the CPA exam in only 12 chapters. This text covers basic taxation of all taxable entities: individuals, corporations, S corporations, partnerships, and fiduciary entities, emphasizing a balance between concepts and details. Tax concepts and applications are presented in a clear, concise, student-friendly writing style with sufficient technical detail to provide a foundation for future practice in taxation and consulting while not overwhelming the student with seldom-encountered details.

Table Of Contents:

Preface xx

About the Authors xxv

PART I Introduction to Taxation and Its Environment

1 An Introduction to Taxation 2

Setting the Stage—An Introductory Case 3

1.1 An Introduction to Taxes 3

1.2 Types of Tax Rate Systems 12

1.3 Characteristics of a Good Tax 15

1.4 The Taxing Units and the Basic Income Tax Model 18

1.5 Choice of Business Entity 29

Revisiting the Introductory Case 38

Summary 38

Key Terms 39

Test Yourself 39

Problem Assignments 40

Answers to Test Yourself 44

2 The Tax Practice Environment 45

Setting the Stage—An Introductory Case 46

2.1 Tax Compliance 46

2.2 Professional Responsibilities and Ethics 54

2.3 Tax Planning 59

2.4 Tax Research 69

Revisiting the Introductory Case 89

Summary 89

Table of Contents ix

Key Terms 90

Test Yourself 90

Problem Assignments 90

Answers to Test Yourself 97

Appendix: Authorities for Sample Research Problem 97

PART II Income Expenses and Individual Taxes

3 Determining Gross Income 108

Setting the Stage—An Introductory Case 109

3.1 What Is Income? 109

3.2 When Is Income Recognized? 112

3.3 Who Recognizes the Income? 118

3.4 Sources of Income 119

3.5 Exclusions 134

3.6 Expanded Topics—Jurisdictional Issues 139

Revisiting the Introductory Case 142

Summary 142

Key Terms 143

Test Yourself 143

Problem Assignments 144

Answers to Test Yourself 152

4 Employee Compensation 153

Setting the Stage—An Introductory Case 154

4.1 Employee Compensation 154

4.2 Employee Fringe Benefits 161

4.3 Employee Stock and Stock Options 174

4.4 Deferred Compensation and Retirement Planning 179

4.5 Self-Employed Individuals 187

4.6 Expanded Topics—Foreign Assignments 191

Revisiting the Introductory Case 195

Summary 195

Key Terms 196

Test Yourself 197

Problem Assignments 198

Answers to Test Yourself 205

5 Deductions for Individuals and Tax Determination 206

Setting the Stage—An Introductory Case 207

5.1 The Individual Tax Model 207

5.2 Deductions for Adjusted Gross Income 209

5.3 Standard Deduction 212

5.4 Itemized Deductions 217

5.5 Qualified Business Income Deduction 228

5.6 Dependents 230

5.7 Tax Credits 233

5.8 Computing the Tax 239

5.9 Payment of Tax and Filing the Return 247

Revisiting the Introductory Case 250

Summary 253

Key Terms 253

Test Yourself 253

Problem Assignments 254

Answers to Test Yourself 264

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