South-Western Federal Taxation 2010: Taxation of Business Entities, 13th Edition

  • includes TaxCut® Tax Preparation Software CD-ROM and Checkpoint 6-month Printed Access Card
  • James E. Smith College of William and Mary
  • William A. Raabe University of Wisconsin - Whitewater
  • David M. Maloney University of Virginia
  • ISBN-10: 0324828586
  • ISBN-13: 9780324828580
  • 912 Pages Hardcover 
  • Previous Editions: 2009, 2008, 2007
  • © 2010 | Published
  • College Bookstore Wholesale Price = $176.25 
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About The Solution

Overview

Packed with new "Big Picture" tax scenarios and new "What-If?" case variations, SOUTH-WESTERN FEDERAL TAXATION 2010: TAXATION OF BUSINESS ENTITIES remains the most effective text for helping students master complex tax concepts and the ever-changing tax legislation. Renowned for its accessible, comprehensive, and time-tested presentation, the text provides thorough coverage while highlighting materials of critical interest to the tax practitioner. Preparing students for the long term, TAXATION OF BUSINESS ENTITIES offers readers many opportunities to sharpen critical-thinking and writing skills. 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 and Checkpoint® from Thomson Reuters come with each new copy of this text to give your students professional experience with leading software! The 2010 edition has been fully updated to include the American Recovery and Reinvestment Act of 2009.


Additional Product Information

Features/Benefits

  • H&R Block's popular TaxCut® software comes with each new copy of this text.
  • Checkpoint® by Thomson Reuters (Student Edition) is automatically packaged with new texts and may be used for tax research.
  • 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.
  • Multi-Issue Problems in the margins appear in selected chapters. These multi-faceted 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 thorough, time-tested 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

  • Enhanced Solutions Manual and Test Bank with Outcomes-Based Planning Tools. All Questions and Problems in the text and all Test Bank items are now listed by Learning Objective, Estimated Difficulty, and Estimated Completion Time. Each of these items is linked to specific core competencies from the AACSB and the AICPA to assist your course planning and assessment needs.
  • The Big Picture. Taxation comes alive in this new chapter-opening vignette. The Big Picture is a glimpse into the lives of individual taxpayers highlighting their families, occupations, and tax situations. Each Big Picture case asks students to develop a reasonable tax reporting solution for everyday dilemmas.
  • Refocus on the Big Picture. This end-of-chapter feature recalls "The Big Picture" scenario and presents a professional solution using the concepts covered in the chapter. A "What If?" section follows to demonstrate how tax reporting might change with different variables. Students learn how to apply tax planning skills.
  • Homework Linked to Learning Objectives. Each end-of-chapter Question and Problem is labeled with the Learning Objective(s) that appear beside key topics in the text margins. Students can easily go back to the section of the text to study a specific concept--saving them time as they complete homework and helping them organize the chapter information.
  • Checkpoint® by Thomson Reuters (Student Edition), now automatically comes with each new copy of the text. 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.
  • The 2010 edition has been fully updated to include the American Recovery and Reinvestment Act of 2009.

Table of Contents

Part I: THE WORLD OF TAXATION.
1. Introduction to Taxation.
2. Working with the Tax Law.
3. Taxes on the Financial Statements.
Part II: STRUCTURE OF THE FEDERAL INCOME TAX.
4. Gross Income.
5. Business Deductions.
6. Losses and Loss Limitations.
Part III: PROPERTY TRANSACTIONS.
7. Property Transactions: Basis, Gain and Loss, and Nontaxable Exchanges.
8. Property Transactions: Capital Gains and Losses, Section 1231, and Recapture Provisions.
Part IV: BUSINESS ENTITIES.
9. Corporations: Organization, Capital Structure, and Operating Rules.
10. Corporations: Earnings & Profits and Distributions.
11. Partnerships and Limited Liability Entities.
12. S Corporations.
Part V: SPECIAL BUSINESS TOPICS.
13. Multijurisdictional Taxation.
14. Business Tax Credits and Corporate Alternative Minimum Tax.
15. Comparative Forms of Doing Business.
Part VI: TAXATION OF INDIVIDUALS.
16. Introduction to the Taxation of Individuals.
17. Individuals as Employees and Proprietors.
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 Procedures and Revenue Rulings Cited.
Appendix E: Table of Cases Cited.
Appendix F: Present Value and Future Value Tables.
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.

CPA Excel® Instant Access Code  (ISBN-10: 0538491663 | ISBN-13: 9780538491662)

List Price = $1.25  | CengageBrain Price = $1.25  | College Bookstore Wholesale Price = $1.25


WebTutor™ on Blackboard® 1-Semester Instant Access Code  (ISBN-10: 0324834543 | ISBN-13: 9780324834543)

WebTutor on WebCT & Blackboard is a powerful online learning resource and course management system. It provides lecture enhancements such as tutorial quizzes and QuizBowl. Students can manage their grades with ease with an effective self-study platform to reinforce concepts.

List Price = $40.00  | CengageBrain Price = $40.00  | College Bookstore Wholesale Price = $40.00


WebTutor™ on WebCT™ 1-Semester Instant Access Code  (ISBN-10: 0324834535 | ISBN-13: 9780324834536)

WebTutor on WebCT & Blackboard is a powerful online learning resource and course management system. It provides lecture enhancements such as tutorial quizzes and QuizBowl. Students can manage their grades with ease with an effective self-study platform to reinforce concepts.

List Price = $40.00  | CengageBrain Price = $40.00  | College Bookstore Wholesale Price = $40.00


Instructor's Resource CD-ROM  (ISBN-10: 0324829477 | ISBN-13: 9780324829471)

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 = $70.95  | College Bookstore Wholesale Price = $52.50


Study Guide, Volume 4  (ISBN-10: 0324829728 | ISBN-13: 9780324829723)

Prepared by Timothy R. Koski (Middle Tennessee State 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 = $47.95  | College Bookstore Wholesale Price = $35.50


Solutions Manual  (ISBN-10: 0324829442 | ISBN-13: 9780324829440)

Written by the South-Western Federal Taxation editors and authors, and prepared by Donald R. Trippeer (SUNY College at Oneonta), 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's Resources page of the product website.


WebTutor™ ToolBox on Blackboard® Printed Access Card  (ISBN-10: 0534274897 | ISBN-13: 9780534274894)

WebTutor™ Toolbox offers basic online study tools including learning objectives, flashcards, and practice quizzes.

List Price = $24.95  | College Bookstore Wholesale Price = $18.75


WebTutor™ ToolBox on WebCT™ Printed Access Card  (ISBN-10: 0534274889 | ISBN-13: 9780534274887)

WebTutor™ Toolbox offers basic online study tools including learning objectives, flashcards, and practice quizzes.

List Price = $24.95  | College Bookstore Wholesale Price = $18.75


Practice Sets for SWFT Corporations  (ISBN-10: 032482906X | ISBN-13: 9780324829068)

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 = $72.95  | CengageBrain Price = $72.49  | College Bookstore Wholesale Price = $53.75


Practice Sets for SWFT Individuals  (ISBN-10: 0324829159 | ISBN-13: 9780324829150)

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 = $65.95  | CengageBrain Price = $65.49  | College Bookstore Wholesale Price = $48.75


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.

South-Western Federal Taxation 2010: Taxation of Business Entities, Professional Version (Book Only)  (ISBN-10: 0324828608 | ISBN-13: 9780324828603)

Packed with new "Big Picture" tax scenarios and new "What-If?" case variations, SOUTH-WESTERN FEDERAL TAXATION 2010: COMPREHENSIVE VOLUME remains the most effective text for helping you master complex tax concepts and the ever-changing tax legislation. Renowned for its accessible, comprehensive, and time-tested presentation, the text covers both individual and corporate taxation while highlighting materials of critical interest to the tax practitioner. Preparing you for the long term, the COMPREHENSIVE VOLUME offers many opportunities to sharpen critical-thinking and writing skills. Internet exercises tied directly to chapter research cases give you 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 you with an additional tax preparation tool! H&R Block's TaxCut® software and Checkpoint® from Thomson Reuters come with each new copy of this text to help you obtain professional experience with leading software! The 2010 edition has been fully updated to include the American Recovery and Reinvestment Act of 2009.

List Price = $292.95  | College Bookstore Wholesale Price = $216.75


CPA Excel® Instant Access Code  (ISBN-10: 0538491663 | ISBN-13: 9780538491662)

List Price = $1.25  | CengageBrain Price = $1.25  | College Bookstore Wholesale Price = $1.25


WebTutor™ on Blackboard® 1-Semester Instant Access Code  (ISBN-10: 0324834543 | ISBN-13: 9780324834543)

WebTutor on WebCT & Blackboard® is a powerful online learning resource and course management system. It provides lecture enhancements such as tutorial quizzes and QuizBowl. Manage your progress with ease with an effective self-study platform to reinforce concepts.

List Price = $40.00  | CengageBrain Price = $40.00  | College Bookstore Wholesale Price = $40.00


WebTutor™ on WebCT™ 1-Semester Instant Access Code  (ISBN-10: 0324834535 | ISBN-13: 9780324834536)

WebTutor on WebCT & Blackboard® is a powerful online learning resource and course management system. It provides lecture enhancements such as tutorial quizzes and QuizBowl. Manage your progress with ease with an effective self-study platform to reinforce concepts.

List Price = $40.00  | CengageBrain Price = $40.00  | College Bookstore Wholesale Price = $40.00


Study Guide, Volume 4  (ISBN-10: 0324829728 | ISBN-13: 9780324829723)

Prepared by Timothy R. Koski (Middle Tennessee State University), the Study Guide encourages you 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, you can prepare for tests and quizzes in your course or use the Study Guide as a self-paced quiz when preparing to take the CPA exam.

List Price = $47.95  | College Bookstore Wholesale Price = $35.50


WebTutor™ ToolBox on Blackboard® Printed Access Card  (ISBN-10: 0534274897 | ISBN-13: 9780534274894)

WebTutor™ Toolbox offers basic online study tools including learning objectives, flashcards, and practice quizzes.

List Price = $24.95  | College Bookstore Wholesale Price = $18.75


WebTutor™ ToolBox on WebCT™ Printed Access Card  (ISBN-10: 0534274889 | ISBN-13: 9780534274887)

WebTutor™ Toolbox offers basic online study tools including learning objectives, flashcards, and practice quizzes.

List Price = $24.95  | College Bookstore Wholesale Price = $18.75


Practice Sets for SWFT Corporations  (ISBN-10: 032482906X | ISBN-13: 9780324829068)

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 = $72.95  | CengageBrain Price = $72.49  | College Bookstore Wholesale Price = $53.75


Practice Sets for SWFT Individuals  (ISBN-10: 0324829159 | ISBN-13: 9780324829150)

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 = $65.95  | CengageBrain Price = $65.49  | College Bookstore Wholesale Price = $48.75


Meet the Author

About the Author

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.

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.

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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