South-Western Federal Taxation 2010: Comprehensive, 33rd Edition

  • includes TaxCut® Tax Preparation Software CD-ROM and Checkpoint 6-month Printed Access Card
  • 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: 0324828616
  • ISBN-13: 9780324828610
  • 1464 Pages Hardcover 
  • Previous Editions: 2009, 2008, 2007
  • © 2010 | Published
  • College Bookstore Wholesale Price = $218.00 
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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: COMPREHENSIVE VOLUME 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 covers both individual and corporate taxation while highlighting materials of critical interest to the tax practitioner. Preparing students for the long term, the COMPREHENSIVE VOLUME 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 comes with each new copy of this text to provide your students 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 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.

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  • Loose Leaf Edition
    ISBN-10: 0324829418 | ISBN-13: 9780324829419
    List Price = $181.95  | College Bookstore Wholesale Price = $134.50

Table of Contents

Part I: 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 II: GROSS INCOME.
4. Gross Income: Concepts and Inclusions.
5. Gross Income: Exclusions.
Part III: 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 IV: 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 V: SPECIAL TAX COMPUTATIONS AND ACCOUNTING PERIODS AND METHODS.
15. Alternative Minimum Tax.
16. Accounting Periods and Methods.
Part VI: 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 VII: FLOW-THROUGH ENTITIES.
21. Partnerships.
22. S Corporations.
Part VIII: ADVANCE TAX PRACTICE CONSIDERATIONS.
23. Exempt Entities.
24. Multistate Corporate Taxation.
25. Taxation of International Transactions.
26. Tax Practice and Ethics.
Part IX: 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 Procedures 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.

South-Western Federal Taxation: 2010 Comprehensive  (ISBN-10: 0324829418 | ISBN-13: 9780324829419)

This version provides all the pages of the text in an unbound, three-hole punched format for affordability and ease of use. TaxCut® is included with every new textbook as well as Checkpoint®, Student Edition, from Thomson Reuters.

List Price = $181.95  | College Bookstore Wholesale Price = $134.50


Aplia Instant Access  (ISBN-10: 0538498242 | ISBN-13: 9780538498241)

List Price = $179.95  | College Bookstore Wholesale Price = $133.50


WebTutor™ on Blackboard® 2-Semester Instant Access Code  (ISBN-10: 0324834500 | ISBN-13: 9780324834505)

WebTutor offers online study tools including QuizBowl, glossary flashcards, crossword puzzles, PowerPoints, practice quizzes, and Web links.

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


WebTutor™ on WebCT™ 2-Semester Instant Access Code  (ISBN-10: 0324834497 | ISBN-13: 9780324834499)

WebTutor offers online study tools including QuizBowl, glossary flashcards, crossword puzzles, PowerPoints, practice quizzes, and Web links.

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


Instructor's Resource CD-ROM Update  (ISBN-10: 0538472626 | ISBN-13: 9780538472623)


CPA Excel® 2-Semester Instant Access Code  (ISBN-10: 0538757205 | ISBN-13: 9780538757201)

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


Instructor's Resource CD-ROM  (ISBN-10: 0324829426 | ISBN-13: 9780324829426)

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.


Solutions Manual  (ISBN-10: 0324829329 | ISBN-13: 9780324829327)

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.


Study Guide  (ISBN-10: 0324829299 | ISBN-13: 9780324829297)

Prepared by Kristina Zvinakis (The University of Texas at Austin) and Roby Sawyers (North Carolina 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.

List Price = $51.95  | CengageBrain Price = $51.49  | College Bookstore Wholesale Price = $38.75


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


APLIA ITS Bookstore Purchase for Taxation Printed Access Card  (ISBN-10: 0538745606 | ISBN-13: 9780538745604)

Aplia™ is an online interactive homework solution that improves learning by increasing student effort and engagement. Founded by a professor to enhance his own courses, Aplia provides automatically graded homework with detailed, immediate feedback on every question, and innovative teaching materials. Our easy to use system has been used by more than 1,000,000 students at over 1200 institutions. Aplia's tax solution ensures that students stay on top of their coursework with regularly scheduled homework assignments. Interactive tools and content further increase engagement and understanding. The Aplia assignments match the language, style, and structure of your textbook, allowing your students to apply what they learn in the text directly to their homework. For more information, please visit www.aplia.com.

List Price = $166.95  | College Bookstore Wholesale Price = $124.00


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


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: Comprehensive, Volume 3, Professional Version (Book Only)  (ISBN-10: 0324828624 | ISBN-13: 9780324828627)

List Price = $238.95  | College Bookstore Wholesale Price = $177.25


South-Western Federal Taxation: 2010 Comprehensive  (ISBN-10: 0324829418 | ISBN-13: 9780324829419)

This version provides all the pages of the text in an unbound, three-hole punched format for affordability and ease of use. TaxCut® is included with every new textbook as well as Checkpoint®, Student Edition, from Thomson Reuters.

List Price = $181.95  | College Bookstore Wholesale Price = $134.50


Aplia Instant Access  (ISBN-10: 0538498242 | ISBN-13: 9780538498241)

List Price = $179.95  | College Bookstore Wholesale Price = $133.50


WebTutor™ on Blackboard® 2-Semester Instant Access Code  (ISBN-10: 0324834500 | ISBN-13: 9780324834505)

WebTutor offers online study tools including QuizBowl, glossary flashcards, crossword puzzles, PowerPoints, practice quizzes, and Web links.

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


WebTutor™ on WebCT™ 2-Semester Instant Access Code  (ISBN-10: 0324834497 | ISBN-13: 9780324834499)

WebTutor offers online study tools including QuizBowl, glossary flashcards, crossword puzzles, PowerPoints, practice quizzes, and Web links.

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


CPA Excel® 2-Semester Instant Access Code  (ISBN-10: 0538757205 | ISBN-13: 9780538757201)

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


Study Guide  (ISBN-10: 0324829299 | ISBN-13: 9780324829297)

Prepared by Kristina Zvinakis (The University of Texas at Austin) and Roby Sawyers (North Carolina 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.

List Price = $51.95  | CengageBrain Price = $51.49  | College Bookstore Wholesale Price = $38.75


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


APLIA ITS Bookstore Purchase for Taxation Printed Access Card  (ISBN-10: 0538745606 | ISBN-13: 9780538745604)

Aplia™ is an online interactive homework solution that improves learning by increasing student effort and engagement. Founded by a professor to enhance his own courses, Aplia provides automatically graded homework with detailed, immediate feedback on every question, and innovative teaching materials. Our easy to use system has been used by more than 1,000,000 students at over 1200 institutions. Aplia's tax solution ensures that students stay on top of their coursework with regularly scheduled homework assignments. Interactive tools and content further increase engagement and understanding. The Aplia assignments match the language, style, and structure of your textbook, allowing your students to apply what they learn in the text directly to their homework. For more information, please visit www.aplia.com.

List Price = $166.95  | College Bookstore Wholesale Price = $124.00


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


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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