South-Western Federal Taxation 2009: Corporations, Partnerships, Estates and Trusts, 32nd Edition

  • includes TaxCut® Tax Preparation Software CD-ROM
  • William H. Hoffman, Jr. University of Houston
  • William A. Raabe University of Wisconsin - Whitewater
  • James E. Smith College of William and Mary
  • David M. Maloney University of Virginia
  • ISBN-10: 0324660219
  • ISBN-13: 9780324660210
  • 1032 Pages Hardcover 
  • Previous Editions: 2008, 2007, 2006
  • © 2009 | Published
  • College Bookstore Wholesale Price = $172.50 
 

About The Solution

Overview

Packed with real-world examples, the 2009 EDITION of SOUTH-WESTERN FEDERAL TAXATION: CORPORATIONS, PARTNERSHIPS, ESTATES & TRUSTS remains the most effective text for helping students master complex and ever-changing tax legislation. Renowned for its accessible, comprehensive, and authoritative presentation, the text provides thorough coverage of C Corporations, Flow-Through Entities, Family Tax Planning, and more, while highlighting materials of critical interest to the serious tax practitioner. Preparing students for the long term, South-WESTERN FEDERAL TAXATION offers readers many opportunities to sharpen critical-thinking and writing skills as well as build upon their knowledge as they progress through the text. Internet exercises tied directly to chapter research cases give students hands-on experience using online resources to solve tax issues. H&R Block's TaxCut® software comes with each new copy of this text to provide your students with an additional tax preparation tool! Thomson/RIA's Checkpoint®, Student Edition is available as an optional bundle!


Additional Product Information

Features/Benefits

  • H&R Block's TaxCut® software comes with each new copy of this text. It is a popular tax preparation tool.
  • SOUTH-WESTERN FEDERAL TAXATION has a strong reputation for recognizing and emphasizing the importance of careful tax planning. In addition to a separate section spotlighting this ever-growing area, most chapters integrate tax-planning applications and suggestions throughout. For example, Chapter 3 includes the editors' tax-planning example on maximizing the use of the standard deduction.
  • The text's unique Global Tax Issues features clearly explain how taxation is affected by international concerns, as well as the impact of tax law across the world -- equipping students with valuable insight into critical issues given the ever-increasing global concerns in today's marketplace.
  • Identified in the margins, Multi-Issue Problems are included in selected chapters, enabling students to build upon what they've learned. These multifaceted exercises challenge students to integrate material across chapters and make better use of the content for a richer learning experience.
  • Developed to support the AICPA curriculum, end-of-chapter Communication Assignments and Decision-Making Problems help students develop the essential analytical and writing skills they will need throughout their careers. In addition, Issue Identification Questions --marked by marginal "Issue ID" tags -- enhance critical-thinking skills throughout the text by identifying the tax issues at hand. These enriching discussion questions are multifaceted and generally are not limited to one right answer.
  • Adding maximum value, flexibility, and research scope, SOUTH-WESTERN FEDERAL TAXATION's extensive appendices make it the most comprehensive tax text on the market. Comprehensive coverage includes tax rate schedules, tax forms, an extensive glossary of tax terms, tables of code sections, regulations, revenue procedures and revenue rulings cited, a citator example, Comprehensive Tax Return Problems (with solutions found in the Instructor's Guide), and an appendix on depreciation.

What's New

  • H&R Block's TaxCut® software comes with each new copy of this text. It is a popular tax preparation tool.
  • Among the thousands of individual changes in the 2009 Edition listed in the text preface and integrated throughout the chapters are the effect of the following tax legislation: Small Business and Work Opportunity Tax Act of 2007; Tax Increase Prevention Act of 2007; and Mortgage Forgiveness Debt Relief Act of 2007.
  • Keeping abreast of the latest developments as they emerge, the text's resource companion website (academic.cengage.com/taxation/swft) includes the newest announcements and explanations for tax legislation relating to topics in the text.
  • Thomson/RIA's Checkpoint®, Student Edition, is an optional bundle item offering six-month access to the leading online tax research database. The intuitive Web-based design makes it fast and simple to find what you need. There is a comprehensive collection of primary tax law, cases, and rulings, along with analytical insight you simply can't find anywhere else. Checkpoint has built-in productivity tools such as calculators to make research more efficient -- a resource more tax pros use than any other.

Table of Contents

Part I: INTRODUCTION.
1. Understanding and Working with the Federal Tax Law.
Part II: CORPORATIONS.
2. Corporations: Introduction and Operating Rules.
3. Corporations: Special Situations.
4. Corporations: Organization and Capital Structure.
5. Corporations: Earnings & Profits and Dividend Distributions.
6. Corporations: Redemptions and Liquidations.
7. Corporations: Reorganizations.
8. Consolidated Tax Returns.
9. Taxation of International Transactions.
Part III: FLOW-THROUGH ENTITIES.
10. Partnerships: Formation, Operation, and Basis.
11. Partnerships: Distributions, Transfer of Interests, and Terminations.
12. S Corporations.
13. Comparative Forms of Doing Business.
Part IV: ADVANCED TAX PRACTICE CONSIDERATIONS.
14. Exempt Entities.
15. Multistate Corporate Taxation.
16. Tax Practice and Ethics.
Part V: FAMILY TAX PLANNING.
17. The Federal Gift and Estate Taxes.
18. Family Tax Planning.
19. Income Taxation of Trusts and Estates.
Appendix A: Tax Rate Schedules and Tables.
Appendix B: Tax Forms.
Appendix C: Glossary of Tax Terms.
Appendix D: Table of Codes Sections Cited, Table Regulations Cited, and Table of Revenue procedures and Revenue Rulings Cited.
Appendix E: Table of Cases Cited.
Subject Index.

Supplements

Instructor Supplements

Instructor Supplements

All supplements have been updated in coordination with the main title. Select the main title’s "About the Solution" tab, then select "What's New" for updates specific to title's edition. For more information about these supplements, or to obtain them, contact your Learning Consultant.

Loose Leaf Edition  (ISBN-10: 0324661630 | ISBN-13: 9780324661637)

This version provides all the pages of the text in an unbound, three-hole punched format for portability and ease of use. Tax Cut® is included with every new textbook. Thomson/RIA's Checkpoint®, Student Edition, is an optional bundle item.

List Price = $128.95  | College Bookstore Wholesale Price = $95.25


Practice Set Solutions  (ISBN-10: 0324661800 | ISBN-13: 9780324661804)

Contains the solutions to the Corporations, S Corporations, and Partnership Practice Sets, complete with filled-in tax returns and other data. Also found on the Instructor's Resource CD-ROM and on the instructor's resources page of the Web site.


Solutions Manual  (ISBN-10: 0324661673 | ISBN-13: 9780324661675)

Written by the SOUTH-WESTERN FEDERAL TAXATION editors and authors, and prepared by Mark Persellin (St. Mary's University), the Solutions Manual features solutions arranged in accordance with the sequence of chapter material. A matrix labels the problems by topical coverage, denotes which problems are new, modified, or unchanged from the prior edition, and indicates with an asterisk those solutions selected as transparency masters. This matrix also references the prior edition's problem number for the unchanged and modified problems. The solutions are referenced to the relevant pages in the text. Available in print, on the Instructor's Resource CD-ROM, and on the Instructor Resources page of the product website.


WebTutor™ on WebCT™ 1-Semester Instant Access Code  (ISBN-10: 0324661894 | ISBN-13: 9780324661897)

Improve your grades with WebTutor™ online review and test prep tools.

List Price = $34.00  | CengageBrain Price = $33.99  | College Bookstore Wholesale Price = $34.00


WebTutor™ on Blackboard® 1-Semester Instant Access Code  (ISBN-10: 0324661886 | ISBN-13: 9780324661880)

Improve your grades with WebTutor™ online review and test prep tools.

List Price = $34.00  | CengageBrain Price = $33.99  | College Bookstore Wholesale Price = $34.00


Solution Transparencies Masters, Vol. 2  (ISBN-10: 0324661851 | ISBN-13: 9780324661859)

Author-selected solutions from the Solutions Manual are reproduced here for larger, better display of key numerical material. Available on the Instructor's Resource CD-ROM and on the Instructor Resources page of the product web site.


Instructor's Manual (Instructor's Resource CD-ROM and Web Only), Vol. 2  (ISBN-10: 0324661754 | ISBN-13: 9780324661750)

Prepared by Debra L. Sanders (Washington State University), the Instructor's Guide contains resources designed to streamline and maximize the effectiveness of your course preparation. The Instructor's Guide contains lecture notes for each chapter, comments on the text's Ethical and Equitable Considerations, and solutions to Research Problems and Comprehensive Tax Return Problems. Offering various teaching aids as well as material not covered in the text, the lecture notes are presented as an outline the instructor can use in classroom presentation. Available on the Instructor's Resource CD-ROM and on the Instructor's Resources page of the product Web site.


PowerPoint®, Vol. 2  (ISBN-10: 0324661746 | ISBN-13: 9780324661743)

Prepared by Donald R. Trippeer (SUNY College at Oneonta), the instructor PowerPoint Lectures contain more than 30 slides per chapter, including outlines, concept definitions, alternate figures, and key points. Available on the Instructor's Resource CD-ROM and on the Instructor Resources page of the product website.


Instructor's Resource CD-ROM, Vol. 2  (ISBN-10: 032466172X | ISBN-13: 9780324661729)

Key instructor ancillaries (Solutions Manual, Instructor's Guide, Test Bank, Additional Test Items and Solutions, Solutions to the Individual Practice Sets, Solutions Transparency Masters, and PowerPoint® Presentation Slides) are provided on CD-ROM -- giving instructors the ultimate tool for customizing lectures and presentations. Solutions are in both Word format and Acrobat PDF format. The Test Bank files on the CD are provided in ExamView® format and in MS-Word. ExamView is an easy-to-use test creation software compatible with Microsoft® Windows. Instructors can add or edit questions, instructions, and answers, and select questions (randomly or numerically) by previewing them on the screen. Instructors also can create and administer quizzes online, whether over the Internet, a local area network, or a wide area network.

List Price = $57.95  | College Bookstore Wholesale Price = $42.75


Study Guide  (ISBN-10: 0324661665 | ISBN-13: 9780324661668)

Prepared by James C. Young (Northern Illinois University), the Study Guide encourages learners to review the chapter's main focus, key concepts, and key terms, and brush up on homework and test-taking skills. Using the available answers and solutions to its quizzes and problems, users can prepare for tests and quizzes in their course or use the Study Guide as a self-paced quiz when preparing to take the CPA exam.

List Price = $42.95  | College Bookstore Wholesale Price = $31.50


Corporations Practice Sets  (ISBN-10: 0324661657 | ISBN-13: 9780324661651)

These practice sets, by Donald R. Trippeer (SUNY College at Oneonta), are comprehensive and designed to be completed after the related materials have been covered using tax preparation software such as TaxCut®. Complete with tax forms and instructions, they provide a realistic and challenging experience to accompany the text. Solutions are available to instructors only.

List Price = $58.95  | College Bookstore Wholesale Price = $43.75


Student Supplements

Student Supplements

All supplements have been updated in coordination with the main title. Select the main title’s "About the Solution" tab, then select "What's New" for updates specific to title's edition. For more information about these supplements, or to obtain them, contact your Learning Consultant.

Loose Leaf Edition  (ISBN-10: 0324661630 | ISBN-13: 9780324661637)

List Price = $128.95  | College Bookstore Wholesale Price = $95.25


WebTutor™ on WebCT™ 1-Semester Instant Access Code  (ISBN-10: 0324661894 | ISBN-13: 9780324661897)

Improve your grades with WebTutor™ online review and test prep tools.

List Price = $34.00  | CengageBrain Price = $33.99  | College Bookstore Wholesale Price = $34.00


WebTutor™ on Blackboard® 1-Semester Instant Access Code  (ISBN-10: 0324661886 | ISBN-13: 9780324661880)

Improve your grades with WebTutor™ online review and test prep tools.

List Price = $34.00  | CengageBrain Price = $33.99  | College Bookstore Wholesale Price = $34.00


Study Guide  (ISBN-10: 0324661665 | ISBN-13: 9780324661668)

Prepared by James C. Young (Northern Illinois University), the Study Guide encourages learners to review the chapter's main focus, key concepts, and key terms, and brush up on homework and test-taking skills. Using the available answers and solutions to its quizzes and problems, users can prepare for tests and quizzes in their course or use the Study Guide as a self-paced quiz when preparing to take the CPA exam.

List Price = $42.95  | College Bookstore Wholesale Price = $31.50


Corporations Practice Sets  (ISBN-10: 0324661657 | ISBN-13: 9780324661651)

These practice sets, by Donald R. Trippeer (SUNY College at Oneonta), are comprehensive and designed to be completed after the related materials have been covered using tax preparation software such as TaxCut®. Complete with tax forms and instructions, they provide a realistic and challenging experience to accompany the text.

List Price = $58.95  | College Bookstore Wholesale Price = $43.75


Meet the Author

About the Author

William H. Hoffman, Jr.

Dr. William H. Hoffman, Jr., earned B.A. and J.D. degrees from the University of Michigan and M.B.A. and Ph.D. degrees from The University of Texas. He is a licensed CPA and attorney in Texas. His teaching experience includes The University of Texas (1957-1961), Louisiana State University (1961-1967), and the University of Houston (1967-1999). Dr. Hoffman has addressed many tax institutes and conferences and has published extensively in academic and professional journals. His articles appear in THE JOURNAL OF TAXATION, THE TAX ADVISER, TAXES − THE TAX MAGAZINE, THE JOURNAL OF ACCOUNTANCY, THE ACCOUNTING REVIEW, and TAXATION FOR ACCOUNTANTS.

William A. Raabe

William A. Raabe, Ph.D., CPA, is the Distinguished Professor of Accounting in the College of Business and Economics of the University of Wisconsin - Whitewater. A graduate of Carroll University (Wisconsin) and the University of Illinois, Dr. Raabe's teaching and research interests include international and multistate taxation, technology in tax education, personal financial planning, and the economic impact of sports teams and fine arts groups. Professor Raabe also writes Federal Tax Research and the PricewaterhouseCoopers Tax Case Studies. He has written extensively about book-tax differences in financial reporting. Dr. Raabe has been a visiting tax faculty member for a number of public accounting firms, bar associations, and CPA societies. He has received numerous teaching awards, including the Accounting Educator of the Year award from the Wisconsin Institute of CPAs. He has been the faculty adviser for student teams in the Deloitte Tax Case Competition (national finalists at three different schools) and the PricewaterhouseCoopers Extreme Tax policy competition (national finalist). For more information about Dr. Raabe, visit BillRaabeTax.com and BillRaabeTax on YouTube and Twitter.

James E. Smith

Dr. James E. Smith is the John S. Quinn Professor of Accounting at the College of William and Mary. He has been a member of the accounting faculty for more than 30 years. He received his Ph.D. from the University of Arizona. Dr. Smith has served as a discussion leader for Continuing Professional Education programs for the American Institute of Certified Public Accountants (AICPA), Federal Tax Workshops, and various state CPA societies. He has conducted programs in more than 40 states for about 25,000 CPAs. He has been the recipient of the AICPA's Outstanding Discussion Leader Award and the American Taxation Association/Arthur Andersen Teaching Innovation Award. Among his other awards are the Virginia Society of CPAs' Outstanding Accounting Educator Award and the James Madison University's Outstanding Accounting Educator Award. He was the president of the Administrators of Accounting Programs Group (AAPG) in 1991-1992. He was the faculty adviser for the William and Mary teams that received first place in the Andersen Tax Challenge for five years and in the Deloitte Tax Case Study Competition for five years.

David M. Maloney

David M. Maloney, Ph.D., CPA, is the Carman G. Blough Professor of Accounting at the University of Virginia's McIntire School of Commerce. He completed his undergraduate work at the University of Richmond and his graduate work at the University of Illinois at Urbana-Champaign. Since joining the Virginia faculty in January 1984, Professor Maloney has taught federal taxation in the graduate and undergraduate programs and has received major research grants from the Ernst & Young and KPMG Foundations. In addition, his work has been published in numerous professional journals, including THE JOURNAL OF TAXATION, THE TAX ADVISOR, TAX NOTES, CORPORATE TAXATION, ACCOUNTING HORIZONS, JOURNAL OF TAXATION OF INVESTMENTS, and JOURNAL OF ACCOUNTANCY. He is a member of several professional organizations, including the American Accounting Association and the American Taxation Association.

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