Concepts in Federal Taxation 2021
by Kevin E. Murphy, Mark Higgins, Randy Skalberg
28th Edition
Publisher: Cengage Learning
Book Details
| Print ISBN | 9780357141212 |
| eText ISBN | 9798214340494 |
| Publisher | Cengage Learning |
| Publishing Year | 2021 |
| Edition | 28th Edition |
| Language | English |
| Pages | 936 |
Concepts in Federal Taxation 2021, 28th Edition, presents federal tax law using a conceptual framework aimed at preparing students for the CPA Exam. The textbook emphasizes unifying principles of the Internal Revenue Code rather than mechanical memorization of statutory details.
The text addresses foundational concepts, gross income inclusions and exclusions, individual taxation, and business deductions. It also explores property transactions and entity classification.
Adopted across colleges and universities throughout the United States, the volume organizes topics into concise segments accompanied by practical business scenarios designed for student practice.
Table of Contents
Chapter 1: Federal Income Taxation-An Overview
Chapter 2: Income Tax Concepts
Chapter 3: Income Sources
Chapter 4: Income Exclusions
Chapter 5: Introduction to Business Expenses
Chapter 6: Business Expenses
Chapter 7: Losses-Deductions and Limitations
Chapter 8: Taxation of Individuals
Chapter 9: Acquisitions of Property
Chapter 10: Cost Recovery on Property: Depreciation, Depletion, and Amortization
Chapter 11: Property Dispositions
Chapter 12: Non-recognition Transactions
Chapter 13: Choice of Business Entity-General Tax and Nontax Factors/Formation
Chapter 14: Choice of Business Entity-Operations and Distributions
Chapter 15: Choice of Business Entity-Other Considerations
Chapter 16: Tax Research
Chapter Appendix A: Tax Return Problem
Chapter Appendix B: Tax Rate Schedules and Tax Tables
Chapter Appendix C: Statements on Standards for Tax Service (available online)
Chapter Appendix D: How to Decode the Code
Chapter Glossary: Glossary
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