South-Western Federal Taxation: Comprehensive 2009, 32nd Edition

  • includes TaxCut® Tax Preparation Software CD-ROM
  • Eugene Willis University of Illinois, Urbana-Champaign
  • William H. Hoffman, Jr. University of Houston
  • David M. Maloney University of Virginia
  • William A. Raabe University of Wisconsin - Whitewater
  • ISBN-10: 0324660529
  • ISBN-13: 9780324660524
  • 1440 Pages Hardcover 
  • Previous Editions: 2008, 2007, 2006
  • © 2009 | Published
  • College Bookstore Wholesale Price = $171.25 
 

About The Solution

Overview

FACULTY Product Description: Delivering the most thorough coverage available on individual and corporate taxation, the 2009 EDITION of SOUTH-WESTERN FEDERAL TAXATION: COMPREHENSIVE VOLUME is unquestionably the most effective text for helping students master the complex and ever-changing Tax Code. The COMPREHENSIVE VOLUME is an edited version of the series' leading individual tax text and corporate tax book, offering an accessible and authoritative presentation of major developments in federal taxation--complete with real-world examples. South-Western Federal Taxation provides a thorough and balanced treatment of relevant tax codes and regulations as applied to individuals and corporations. 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 a bundle option!


Additional Product Information

Features/Benefits

  • H&R Block's popular TaxCut software comes with each new copy of this text.
  • Thomson/RIA's Checkpoint®, Student Edition is available as a bundle option to provide students with an online tax research database!
  • Tax Planning Considerations: 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 also integrate tax planning applications and suggestions throughout. For example, Ch. 3 includes the editors' tax planning example on maximizing the use of the standard deduction.
  • Global Tax Issues: South-Western Federal Taxation'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 issues critical given the ever-increasing global concerns in today's marketplace.
  • Multi-Issue Problems: 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.
  • Critical-Thinking and Writing Emphasis: 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.
  • Extensive Appendixes: Adding maximum value, flexibility, and research scope, the Comprehensive Volume's extensive appendixes make it the most complete tax text on the market. Appendix coverage includes tax rate schedules, tax forms, an extensive glossary of tax terms, tables of code sections, regulations, revenue procedures and revenue rulings cited, and Comprehensive Tax Return Problems (with solutions found in the Instructor's Guide).
  • Companion Web site for ancillary materials: academic.cengage.com/taxation/swft.

What's New

  • H&R Block's popular TaxCut® software comes with each new copy of this text.
  • 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:-The Small Business and Work Opportunity Tax Act of 2007.-Energy Independence and Security Act of 2007.-Mortgage Forgiveness Debt Relief Act of 2007.-Tax Increase Prevention Act of 2007.-Tax Technical Corrections Act of 2007.-Economic Stimulus Act of 2008.
  • 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.

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  • Loose Leaf Edition
    ISBN-10: 0324661983 | ISBN-13: 9780324661989
    List Price = $141.95  | College Bookstore Wholesale Price = $105.50

Table of Contents

PART 1: INTRODUCTION AND BASIC TAX MODEL.
1. An Introduction to Taxation and Understanding the Federal Tax Law.
2. Working with the Tax Law.
3. Tax Determination; Personal and Dependency Exemptions; An Overview of Property Transactions.
PART 2. GROSS INCOME.
4. Gross Income: Concepts and Inclusions.
5. Gross Income: Exclusions.
PART 3. DEDUCTIONS AND CREDITS.
6. Deductions and Losses: In General.
7. Deductions and Losses: Certain Business Expenses and Losses.
8. Depreciation, Cost Recovery, Amortization, and Depletion.
9. Deductions: Employee and Self-Employed-Related Expenses.
10. Deductions and Losses: Certain Itemized Deductions.
11. Investor Losses.
12. Tax Credits and Payments.
PART 4. PROPERTY TRANSACTIONS.
13. Property Transactions: Determination of Gain or Loss, Basis Considerations, and Nontaxable Exchanges.
14. Property Transactions: Capital Gains and Losses, Section 1231, and Recapture Provisions.
PART 5. SPECIAL TAX COMPUTATIONS AND ACCOUNTING PERIODS AND METHODS.
15. Alternative Minimum Tax.
16. Accounting Periods and Methods.
PART 6. CORPORATIONS.
17. Corporations: Introduction and Operating Rules.
18. Corporations: Organization and Capital Structure.
19. Corporations: Distributions Not in Complete Liquidation.
20. Corporations: Distributions in Complete Liquidation and an Overview of Reorganizations.
PART 7. FLOW-THROUGH ENTITIES.
21. Partnerships.
22. S Corporations.
PART 8. ADVANCE TAX PRACTICE CONSIDERATIONS.
23. Exempt Entities.
24. Multistate Corporate Taxation.
25. Taxation of International Transactions.
26. Tax Practice and Ethics.
PART 9. FAMILY TAX PLANNING.
27. The Federal Gift and Estate Taxes.
28. 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 Code Sections Cited, Table of Regulations Cited, Table of Revenue Prociedures and Revenue Rulings Cited.
Appendix E. Comprehensive Tax Return Problems.
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: 0324661983 | ISBN-13: 9780324661989)

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

List Price = $141.95  | College Bookstore Wholesale Price = $105.50


WebTutor™ on WebCT™ 2-Semester Instant Access Code, Comprehensive Vol. 3  (ISBN-10: 0324662149 | ISBN-13: 9780324662146)

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

List Price = $45.00  | CengageBrain Price = $45.00  | College Bookstore Wholesale Price = $45.00


Instructor's Resource CD-ROM, Reprint  (ISBN-10: 0324785305 | ISBN-13: 9780324785302)

Key instructor ancillaries (Solutions Manual, Instructor's Guide, Test Bank, Additional Test Items and Solutions, Solutions to the Individual Practice Sets and the Corporations, S Corporations, and Partnerships Practice Sets, Solutions Transparency Masters, and PowerPoint® Presentation Slides) are provided on CD-ROM. 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. Instructor's Guide with Lecture Notes Prepared by Freda Mulhall (University of Illinois, Urbana-Champaign), the Instructor's Guide contains lecture notes for each chapter, comments on the text's Ethical and Equitable Considerations, and verified 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.


WebTutor™ on Blackboard® 2-Semester Instant Access Code  (ISBN-10: 0324662130 | ISBN-13: 9780324662139)

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

List Price = $45.00  | CengageBrain Price = $45.00  | College Bookstore Wholesale Price = $45.00


Solutions Transparency Masters, Comprehensive Vol. 3  (ISBN-10: 0324662106 | ISBN-13: 9780324662108)

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


PowerPoint®, Comprehensive Vol. 3  (ISBN-10: 0324662025 | ISBN-13: 9780324662023)

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's Resources Web site.


Instructor's Manual (Instructor's Resource CD-ROM and Web Only), Comprehensive Vol. 3  (ISBN-10: 0324662009 | ISBN-13: 9780324662009)


Study Guide, Comprehensive Vol. 3  (ISBN-10: 0324661967 | ISBN-13: 9780324661965)

Prepared by David M. Maloney (University of Virginia) and William A. Raabe (The Ohio State University), the print 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. Bundle for Text + Study Guide (ISBN 0-324-61249-4).

List Price = $39.95  | College Bookstore Wholesale Price = $29.75


Solutions Manual, Comprehensive, Vol. 3  (ISBN-10: 0324662041 | ISBN-13: 9780324662047)

Written by the South-Western Federal Taxation editors and authors and prepared by Freda Mulhall (University of Illinois, Urbana-Champaign), the Solutions Manual features verified, author-written solutions to every end-of-chapter homework discussion question and problem in the text. 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 and on the Instructor's Resource CD-ROM and on the Instructor's Resources page of the product Web site.


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 = $57.95  | College Bookstore Wholesale Price = $43.25


Individual Practice Set  (ISBN-10: 0324661207 | ISBN-13: 9780324661200)

These print practice sets, by Raymond F. Wacker (Southern Illinois University), are comprehensive and designed to be completed near the end of the course using tax preparation software such as TaxCut®. Complete with tax forms. (Solutions are available to instructors separately.).

List Price = $60.95  | College Bookstore Wholesale Price = $45.00


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: 0324661983 | ISBN-13: 9780324661989)

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

List Price = $141.95  | College Bookstore Wholesale Price = $105.50


WebTutor™ on WebCT™ 2-Semester Instant Access Code, Comprehensive Vol. 3  (ISBN-10: 0324662149 | ISBN-13: 9780324662146)

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

List Price = $45.00  | CengageBrain Price = $45.00  | College Bookstore Wholesale Price = $45.00


WebTutor™ on Blackboard® 2-Semester Instant Access Code  (ISBN-10: 0324662130 | ISBN-13: 9780324662139)

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

List Price = $45.00  | CengageBrain Price = $45.00  | College Bookstore Wholesale Price = $45.00


Study Guide, Comprehensive Vol. 3  (ISBN-10: 0324661967 | ISBN-13: 9780324661965)

List Price = $39.95  | College Bookstore Wholesale Price = $29.75


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 = $57.95  | College Bookstore Wholesale Price = $43.25


Individual Practice Set  (ISBN-10: 0324661207 | ISBN-13: 9780324661200)

These print practice sets, by Raymond F. Wacker (Southern Illinois University), are comprehensive and designed to be completed near the end of the course using tax preparation software such as TaxCut®. Complete with tax forms. (Solutions are available to instructors separately.).

List Price = $60.95  | College Bookstore Wholesale Price = $45.00


Meet the Author

About the Author

Eugene Willis

Eugene Willis is the Arthur Andersen Alumni Professor of Accountancy at the University of Illinois, Urbana-Champaign. He joined the Illinois faculty in 1975 after receiving his Ph.D. from the University of Cincinnati. He has published articles in leading academic and professional journals, including The Accounting Review, The Journal of the American Taxation Association, The Journal of Accountancy, and The Journal of Taxation. Professor Willis is co-director of the National Tax Education Program, a continuing education program co-sponsored by the American Institute of CPAs and the University of Illinois.

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.

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.

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.

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