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Federal Taxation: Basic Principles (2015)

Federal Taxation: Basic Principles (2015)

Author: Ephraim P. Smith; Philip J. Harmelink; James R. Hasselback
Publisher: CCH U.S.
ISBN: 9780808037941
Published In: March 2014
Format: Paperback , 888 pages
Jurisdiction: U.S. ? Disclaimer:
Countri(es) stated herein are used as reference only

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A popular first-level tax course textbook that provides a clear concise explanation of the fundamental tax concepts covering both tax planning and compliance.

CCH's Federal Taxation: Basic Principles (2015) is a popular first-level tax course textbook that provides a clear concise explanation of the fundamental tax concepts covering both tax planning and compliance. Basic Principles strikes a perfect balance between the AICPA model curriculum (focusing on business tax) and the demands favored by most teachers (covering the fundamentals and building toward the complex). The book is also a favorite in distant learning, because of its clarity and direct approach--and it is also used in special programs like CFP courses.

Basic Principles covers the core tax concepts and principles, including individual taxation, gross income, deductions, credits, property transactions, accounting methods and periods, deferred compensation, retirement plans, partnerships, corporations, trusts and estates, and tax planning for individuals.

It is written by an editorial board of tax teachers that includes members who are currently active in the American Accounting Association, American Taxation Association, the National Tax Challenge, CFP education, CPE lectures, CPA preparation and other programs, so you can be assured that the text is allied with real-world educational outcomes.

Basic Principles includes 18 Chapters and special support materials at the end of the volume as follows:

Chapter 1 Introduction to Federal Taxation and Understanding the Federal Tax Law
Chapter 2 Tax Research, Practice and Procedure
Chapter 3 Individual Taxation--An Overview
Chapter 4 Gross Income
Chapter 5 Gross Income--Exclusions
Chapter 6 Deductions: General Concepts and Trade or Business Deductions
Chapter 7 Deductions: Business/Investment Losses and Passive Activity Losses
Chapter 8 Deductions: Itemized Deductions
Chapter 9 Tax Credits, Prepayments and Special Methods
Chapter 10 Property Transactions: Determination of Basis and Gains and Losses
Chapter 11 Property Transactions: Nonrecognition of Gains and Losses
Chapter 12 Property Transactions: Treatment of Capital and Section 1231 Assets
Chapter 13 Tax Accounting
Chapter 14 Deferred Compensation and Education Savings Plans
Chapter 15 Tax Planning for Individuals
Chapter 16 Partnerships,Corporations and S Corporations
Chapter 17 Federal Estate Tax, Federal Gift Tax and Generation-Skipping Transfer Tax
Chapter 18 Income Taxation of Trusts and Estates
Appendix
Glossary of Tax Terms
Finding Lists
Table of Cases
Topical Index

Ephraim P. Smith, Vice-President of Academic Affairs, California State University-Fullerton

James R. Hasselback, Ph.D., is a professor of accounting at Florida State University. He has published more than 145 papers in professional and academic journals; edits the journal, "Accounting Perspectives;" authors and edits several CCH books; teaches CPE seminars; and is known throughout the academic community for compiling the highly-regarded and highly-referenced Hasselback Directories of College and University Faculty.