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Ebook details:
عنوان: MCGRAW-HILL'S TAXATION OF INDIV.2019
نویسنده: Spilker
ناشر: McGraw Hill (2018)
زبان:
شابک: 1260189651, 978-1260189650
حجم: 54 Mb
فرمت: Epub + Converted Pdf

Cover Title Page Copyright Dedication About the Authors Teaching the Code A Modern Approach A Storyline Approach The Pedagogy Your Students Practice Makes Perfect Connect Digital Learning Assets Four Volumes to Fit Supplements for Instructors Acknowledgments Changes in Taxation As We Go to Press Table of Contents Chapter 1 An Introduction to Tax Who Cares about Taxes and Why? What Qualifies as a Tax? How to Calculate a Tax Different Ways to Measure Tax Rates Tax Rate Structures Proportional Tax Rate Structure Progressive Tax Rate Structure Regressive Tax Rate Structure Types of Taxes Federal Taxes State and Local Taxes Implicit Taxes Evaluating Alternative Tax Systems Sufficiency Equity Certainty Convenience Economy Evaluating Tax Systems—The Trade-Off Conclusion Chapter 2 Tax Compliance, the IRS, and Tax Authorities Taxpayer Filing Requirements Tax Return Due Date and Extensions Statute of Limitations IRS Audit Selection Types of Audits Tax Law Sources Legislative Sources: Congress and the Constitution Judicial Sources: The Courts Administrative Sources: The U.S. Treasury Tax Research Step 1: Understand Facts Step 2: Identify Issues Step 3: Locate Relevant Authorities Step 4: Analyze Tax Authorities Step 5: Document and Communicate the Results Tax Professional Responsibilities Taxpayer and Tax Practitioner Penalties Conclusion Chapter 3 Tax Planning Strategies and Related Limitations Basic Tax Planning Overview Timing Strategies Present Value of Money The Timing Strategy When Tax Rates Are Constant The Timing Strategy When Tax Rates Change Income-Shifting Strategies Transactions between Family Members and Limitations Transactions between Owners and Their Businesses and Limitations Income Shifting across Jurisdictions and Limitations Conversion Strategies Limitations of Conversion Strategies Additional Limitations to Tax Planning Strategies: Judicially-Based Doctrines Tax Avoidance versus Tax Evasion Conclusion Chapter 4 Individual Income Tax Overview, Dependents, and Filing Status The Individual Income Tax Formula Gross Income Deductions Income Tax Calculation Other Taxes Tax Credits Tax Prepayments Dependents of the Taxpayer Dependency Requirements Filing Status Married Filing Jointly and Married Filing Separately Qualifying Widow or Widower (Surviving Spouse) Single Head of Household Summary of Income Tax Formula Conclusion Appendix A: Dependency Exemption Flowchart (Part I) Appendix B: Qualifying Person for Head of Household Filing Status Flowchart Appendix C: Determination of Filing Status Flowchart Chapter 5 Gross Income and Exclusions Realization and Recognition of Income What Is Included in Gross Income? Other Income Concepts When Do Taxpayers Recognize Income? Who Recognizes the Income? Types of Income Income from Services Income from Property Other Sources of Gross Income Exclusion Provisions Common Exclusions Education-Related Exclusions Exclusions That Mitigate Double Taxation Sickness and Injury-Related Exclusions Deferral Provisions Income Summary Conclusion Appendix: 2017 Social Security Worksheet from Form 1040 Chapter 6 Individual Deductions Deductions for AGI Deductions Directly Related to Business Activities Deductions Indirectly Related to Business Activities Deductions Subsidizing Specific Activities Summary: Deductions for AGI Deductions from AGI: Itemized Deductions Medical Expenses Taxes Interest Charitable Contributions Casualty and Theft Losses on Personal-Use Assets Miscellaneous Itemized Deductions Summary of Itemized Deductions The Standard Deduction Standard Deduction Deduction for Qualified Business Income Deduction for Qualified Business Income Limitations Taxable Income Summary Conclusion Chapter 7 Investments Investments Overview Portfolio Income: Interest and Dividends Interest Dividends Portfolio Income: Capital Gains and Losses Types of Capital Gains and Losses Limits for Capital Loss Deductions Balancing Tax Planning Strategies for Capital Assets with Other Goals Portfolio Income Summary Investment Interest Expense Net Investment Income Tax Passive Activity Income and Losses Passive Activity Definition Income and Loss Categories Rental Real Estate Exception to the Passive Activity Loss Rules Net Investment Income Tax on Net Passive Income Conclusion Chapter 8 Individual Income Tax Computation and Tax Credits Regular Federal Income Tax Computation Tax Rate Schedules Marriage Penalty or Benefit Exceptions to the Basic Tax Computation Alternative Minimum Tax Alternative Minimum Tax Formula Employment and Self-Employment Taxes 8-14 Employee FICA Taxes Payable Self-Employment Taxes Employee vs. Self-Employed (Independent Contractor) Tax Credits Nonrefundable Personal Credits Refundable Personal Credits Business Tax Credits Tax Credit Summary Credit Application Sequence Taxpayer Prepayments and Filing Requirements Prepayments Filing Requirements Tax Summary Conclusion Chapter 9 Business Income, Deductions, and Accounting Methods Business Gross Income Business Deductions Ordinary and Necessary Reasonable in Amount Limitations on Business Deductions Expenditures against Public Policy Political Contributions and Lobbying Costs Capital Expenditures Expenses Associated with the Production of Tax-Exempt Income Personal Expenditures Mixed-Motive Expenditures Limitation on Business Interest Deductions Specific Business Deductions Losses on Dispositions of Business Property Business Casualty Losses Accounting Periods Accounting Methods Financial and Tax Accounting Methods Overall Accounting Method Accrual Income Taxation of Advance Payments of Income (Unearned Income) Inventories Accrual Deductions Comparison of Accrual and Cash Methods Adopting an Accounting Method Changing Accounting Methods Conclusion Chapter 10 Property Acquisition and Cost Recovery Cost Recovery and Tax Basis for Cost Recovery Basis for Cost Recovery Depreciation Personal Property Depreciation Real Property Special Rules Relating to Cost Recovery Depreciation for the Alternative Minimum Tax Depreciation Summary Amortization Section 197 Intangibles Organizational Expenditures and Start-Up Costs Research and Experimentation Expenditures Patents and Copyrights Amortizable Intangible Asset Summary Depletion Conclusion Appendix A: MACRS Tables Chapter 11 Property Dispositions Dispositions Amount Realized Determination of Adjusted Basis Realized Gain or Loss on Disposition Recognized Gain or Loss on Disposition Character of Gain or Loss Ordinary Assets Capital Assets Section 1231 Assets Depreciation Recapture §1245 Property §1250 Depreciation Recapture for Real Property Other Provisions Affecting the Rate at Which Gains Are Taxed Unrecaptured §1250 Gain for Individuals Characterizing Gains on the Sale of Depreciable Property to Related Persons Calculating Net §1231 Gains or Losses §1231 Look-Back Rule Gain or Loss Summary Nonrecognition Transactions Like-Kind Exchanges Definition of Like-Kind Property Property Use Timing Requirements for a Like-Kind Exchange Tax Consequences When Like-Kind Property Is Exchanged Solely for Like-Kind Property Tax Consequences of Transfers Involving Like-Kind and Non-Like-Kind Property (Boot) Reporting Like-Kind Exchanges Involuntary Conversions Installment Sales Gains Ineligible for Installment Reporting Other Nonrecognition Provisions Related-Person Loss Disallowance Rules Conclusion Chapter 12 Compensation Salary and Wages Employee Considerations for Salary and Wages Employer Considerations for Salary and Wages Equity-Based Compensation Stock Options Restricted Stock Equity-Based Compensation Summary Fringe Benefits Taxable Fringe Benefits Nontaxable Fringe Benefits Tax Planning with Fringe Benefits Fringe Benefits Summary Conclusion Chapter 13 Retirement Savings and Deferred Compensation Employer-Provided Qualified Plans Defined Benefit Plans Vesting Distributions Nontax Considerations Defined Contribution Plans Employer Matching Contribution Limits Vesting After-Tax Cost of Contributions to Traditional (non-Roth) Defined Contribution Plans Distributions from Traditional Defined Contribution Plans After-Tax Rates of Return for Traditional Defined Contribution Plans Roth 401(k) Plans Comparing Traditional Defined Contribution Plans and Roth 401(k) Plans Nonqualified Deferred Compensation Plans Nonqualified Plans versus Qualified Defined Contribution Plans Employee Considerations Employer Considerations Individually Managed Qualified Retirement Plans Individual Retirement Accounts Traditional IRAs Roth IRAs Rollover from Traditional to Roth IRA Comparing Traditional and Roth IRAs Self-Employed Retirement Accounts Simplified Employee Pension (SEP) IRA Individual 401(k) Plans Saver’s Credit Conclusion Appendix A: Traditional IRA Deduction Limitations Appendix B: Roth IRA Contribution Limits Chapter 14 Tax Consequences of Home Ownership Personal Use of the Home Exclusion of Gain on Sale of Personal Residence Home Mortgage Interest Deduction Real Property Taxes Rental Use of the Home Residence with Minimal Rental Use Residence with Significant Rental Use (Vacation Home) Nonresidence (Rental Property) Business Use of the Home Direct versus Indirect Expenses Limitations on Deductibility of Expenses Conclusion Appendix A: Sample Settlement Statement for the Jeffersons Appendix B: Flowchart of Tax Rules Relating to Home Used for Rental Purposes Appendix A Tax Forms Appendix B Tax Terms Glossary Appendix C Comprehensive Tax Return Problems Appendix D Tax Rates Code Index Subject Index

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