Professional

Concepts in Federal Taxation 2016, Professional Edition, 23rd Edition

  • includes H&R Block™ Tax Preparation Software CD-ROM
  • Kevin E. Murphy Oklahoma State University
  • Mark Higgins University of Rhode Island
  • ISBN-10: 1305585178  |  ISBN-13: 9781305585171
  • 928 Pages
  • Previous Editions: 2015, 2014, 2013
  • © 2016 | Published
  • List Price = $ 329.95
  • For quantity discounts, Contact your Representative
  • For single copy purchases, visit CengageBrain.com
  • Newer Edition Available

About

Overview

Master federal taxation using the distinctive, balanced approach in CONCEPTS IN FEDERAL TAXATION 2016. This edition presents today's latest tax codes and changes for the most recent tax year using a straightforward approach. You focus on understanding the unifying concepts behind the Internal Revenue Code, rather than memorizing the details of the Code. Concept and applications are divided into comprehensible segments ideal for CPA Exam review. Extensive examples relate concepts to familiar business scenarios while a wealth of exercises provide more practice than any other book of its kind. CengageNOW online homework tool optimizes your study, while H&R Block™ software provide professional research and taxation tools.

Features and Benefits

  • LATEST UPDATES REFLECT TODAY'S MOST RECENT TAX LAWS and CHANGES. The authors update this text each year to ensure all content reflects the very latest tax laws and up-to-the-minute changes to tax codes and regulations to keep your course as current as possible. This revision incorporates all changes for the recent tax year.
  • CENGAGENOW GIVES YOU MORE CONTROL IN LESS TIME AND DELIVERS BETTER STUDENT OUTCOMES. This powerful online course management system and online homework tool allows you to optimize the learning experience and meet desired outcomes with book-specific resources and numerous multimedia tools for students. Flexible assignments and automatic grading save you time. The Personalized Study Plan diagnostic tool enables students to master concepts, prepare for exams, and become more involved in class. An integrated eBook provides flexibility in price.
  • STRONG CONSISTENCY BETWEEN PROBLEM PARTS ELIMINATES CONFUSION. The authors clearly identify all separate question parts within a problem to avoid any reader confusion and ensure readers are able to easily problem solve.
  • TAX PLANNING PROBLEMS IN TEST BANK ENSURE COMPREHENSION. This edition's revised Test Bank includes more tax planning problems to ensure your students understand these important principles and have ample practice opportunities.
  • END-OF-CHAPTER HOMEWORK CLEARLY CORRESPONDS TO LEARNING OBJECTIVES. All of the end-of-chapter homework references specific Learning Objectives from the book so students can more easily refer to pertinent sections of this edition for help in completing homework assignments.
  • CONCEPT CHECKS REINFORCE STUDENT COMPREHENSION. Concept Checks, integrated throughout each chapter, separate the text material into manageable segments while reinforcing the concepts of tax law and emphasizing the underlying principles that drive today's tax rules and regulations.
  • TAX SIMULATION CASES SHARPEN SKILLS. Students refine the research and writing skills that are most critical for completing tax simulations on the CPA exam with this edition's Tax Simulation Cases. Students can complete these Simulation Cases using only the Code and Regulations.
  • TAX FORM PREPARATION PROBLEMS CONNECT CONCEPTS TO ACTUAL COMMON TAX SITUATIONS. Proven Tax Form Preparation Problems in each chapter link the concepts being discussed to actual examples of tax preparation from today's business world.
  • STRONG END-OF-CHAPTER APPLICATIONS PROVIDE IMPORTANT PRACTICE. Approximately 1,300 end-of-chapter applications in this edition provide more practice opportunities than any other text on the market. You can choose from this large quantity of practice choices to offer more varied exercises, problems, and cases for hands-on reinforcement.
  • ONLINE STUDY TOOLS STRENGTHEN STUDENT UNDERSTANDING. The book's companion website, at www.cengagebrain.com, provides a wealth of interactive hands-on quizzes and other helpful learning resources to reinforce all of the concepts covered in each chapter.

Table of Contents

PART I: CONCEPTUAL FOUNDATIONS OF THE TAX LAW.
1. Federal Income Taxation-An Overview.
2. Income Tax Concepts.
PART II: GROSS INCOME.
3. Income Sources.
4. Income Exclusions.
PART III: DEDUCTIONS.
5. Introduction to Business Expenses.
6. Business Expenses.
7. Losses-Deductions and Limitations.
8. Taxation of Individuals.
PART IV: PROPERTY TRANSACTIONS.
9. Acquisitions of Property.
10. Cost Recovery on Property: Depreciation, Depletion, and Amortization.
11. Property Dispositions.
12. Non-recognition Transactions.
PART V: INCOME TAX ENTITIES.
13. Choice of Business Entity-General Tax and Nontax Factors/Formation.
14. Choice of Business Entity-Operations and Distributions.
15. Choice of Business Entity-Other Considerations.
PART VI: TAX RESEARCH.
16. Tax Research.
Appendix A. Tax Return Problem.
Appendix B. Tax Rate Schedules and Tax Tables.
Appendix C. Statements on Standards for Tax Service (available online)
Glossary.

What's New

  • LEADING PROFESSIONAL H&R BOCK™ SOFTWARE PROVIDES INVALUABLE HANDS-ON EXPERIENCE. Each new copy of this text includes H&R Block™ software to provide students with additional professional experience. H&R Block™ guides users through the tax return process. Analytical insights and built-in productivity tools make research more efficient.

Learning Resource Bundles

Choose the textbook packaged with the resources that best meet your course and student needs. Contact your Learning Consultant for more information.

Printed Text + H&R Block™ Tax Preparation Software CD-ROM + CengageNOW™, 2 terms Instant Access

ISBN-10: 1337081256  | ISBN-13: 9781337081252

List Price = $349.95  | CengageBrain Price = $349.95


Printed Text + H&R Block™ Tax Preparation Software CD-ROM + CengageNOW™, 1 term Instant Access

ISBN-10:  1337081264 | ISBN-13:  9781337081269

List Price = $342.95  | CengageBrain Price = $342.95


Supplements

All supplements have been updated in coordination with the main title. Select the main title's "About" 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.

Instructor Supplements

CengageNOW™, 2 terms Instant Access  (ISBN-10: 1305585208 | ISBN-13: 9781305585201)

With its engaging learning and assessment tools, CengageNOW supports the entire student workflow, from motivation to mastery. For you, the instructor, CengageNOW provides control and customization with the opportunity to tailor the learning experience to improve outcomes.

List Price = $174.00  | CengageBrain Price = $174.00  | College Bookstore Wholesale Price = $174.00

CengageNOW™, 1 term Instant Access  (ISBN-10: 1305585224 | ISBN-13: 9781305585225)

With its engaging learning and assessment tools, CengageNOW supports the entire student workflow, from motivation to mastery. For you, the instructor, CengageNOW provides control and customization with the opportunity to tailor the learning experience to improve outcomes.

List Price = $162.00  | CengageBrain Price = $162.00  | College Bookstore Wholesale Price = $162.00

Student Supplements

CengageNOW™, 2 terms Instant Access  (ISBN-10: 1305585208 | ISBN-13: 9781305585201)

With its engaging learning and assessment tools, CengageNOW supports the entire student workflow, from motivation to mastery. For you, the instructor, CengageNOW provides control and customization with the opportunity to tailor the learning experience to improve outcomes.

List Price = $174.00  | CengageBrain Price = $174.00  | College Bookstore Wholesale Price = $174.00

CengageNOW™, 1 term Instant Access  (ISBN-10: 1305585224 | ISBN-13: 9781305585225)

With its engaging learning and assessment tools, CengageNOW supports the entire student workflow, from motivation to mastery. For you, the instructor, CengageNOW provides control and customization with the opportunity to tailor the learning experience to improve outcomes.

List Price = $162.00  | CengageBrain Price = $162.00  | College Bookstore Wholesale Price = $162.00

Meet the Author

Author Bio

Kevin E. Murphy

A professor emeritus at Oklahoma State University, Dr. Kevin E. Murphy earned his Ph.D. at the University of Wisconsin-Madison and his B.S. and M.S. in Accounting at Utah State University. He has published articles in the Journal of the American Taxation Association and The Journal of Accounting Education. Dr. Murphy is a member of the American Accounting Association and the American Taxation Association.

Mark Higgins

Dr. Mark Higgins is Dean of the John Cook School of Business at Saint Louis University. He earned his Ph.D. at the University of Tennessee and his B.S. and M.S. in Accounting at the University of South Carolina. He has articles published in Accounting Historians Journal, Journal of Accounting Education, Taxation for Accountants, Critical Perspectives in Accounting, Journal of Legal Tax Research, The CPA Journal, and The Tax Adviser. He is also a Certified Public Accountant (inactive).