Higher Education

Concepts in Federal Taxation 2015, 22nd Edition

  • includes H&R Block™ Tax Preparation CD-ROM and RIA Checkpoint® 1 term (6 months) Printed Access Card
  • Kevin E. Murphy Oklahoma State University
  • Mark Higgins University of Rhode Island
  • ISBN-10: 1285439813  |  ISBN-13: 9781285439815
  • 928 Pages
  • Previous Editions: 2014, 2013, 2012
  • © 2015 | Published
  • College Bookstore Wholesale Price = $288.25
  • Newer Edition Available
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About

Overview

Give your students a better way to learn taxation with the proven, balanced conceptual approach found in Murphy/Higgins' CONCEPTS IN FEDERAL TAXATION 2015. This unique text presents taxation as a small number of unifying concepts. Students master these concepts before applying them to specific tax rules and everyday economics. This edition presents today's latest tax laws and changes in a clear and straightforward manner without overwhelming technical detail. For further clarity the text introduces individual taxation before addressing more complex business entities. All changes for the recent tax year are included in this revision. Students learn concepts and applications in small, manageable segments with Concept Checks, ideal for CPA Exam review. This text balances tax concepts with the Internal Revenue Code to prepare students for success on CPA Exam tax simulations and within their careers. Frequent examples relate tax concepts to familiar business scenarios. This edition provides more practice exercises than any other book of its kind with additional tax planning problems in the Test Bank. The CengageNOW™ online course solution optimizes learning, while accompanying H&R Block˜ tax preparation software and RIA Checkpoint® Student Edition from Thomson Reuters provide experience using professional research and taxation tools. Count on CONCEPTS IN FEDERAL TAXATION 2015 for conceptual strengths like no other text.

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. All changes for the recent tax year are included in this revision.
  • Leading professional software provides additional hands-on experience. Each new copy of this text includes H&R Block™ tax preparation software as well as RIA Checkpoint® by Thomson Reuters (Student Edition) to provide students with additional professional experience. H&R Block™ tax preparation software guides users through the tax return process. RIA Checkpoint® Student Edition from Thomson Reuters helps students succeed in tax research with a comprehensive collection of primary tax law, cases, and rulings along with analytical insights and built-in productivity tools to make research more efficient.
  • 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 empowers students to master concepts, prepare for exams, and become more involved in class. An integrated eBook provides flexibility in price.
  • Stronger consistency between problem parts eliminates confusion. The authors clearly identify all separate question parts within a problem to avoid any reader confusion and enable easier problem solving.
  • Tax planning problems in test bank ensure comprehension. The Test Bank includes more tax planning problems that allow your students ample practice opportunities.
  • End-of-chapter homework clearly corresponds to text learning objectives. All end-of-chapter homework material references specific Learning Objectives from the book so students can more easily refer to pertinent sections of this edition while completing homework assignments.
  • Concept checks reinforce 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 in Chapters 3--12. Students can complete these Simulation Cases using only the Code and Regulations.
  • Tax form preparation problems connect concepts. 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 more 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 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

  • NEW: New Tax Laws - Any tax law changes have been incorporated into the text and problems, giving you and your students the most up-to-date information according to current tax law.
  • NEW: Fine Tune Chapter Problem Material – The text and problems have been updated to include any tax law changes, presenting your students with the most current information.

Alternate Formats

Choose the format that best fits your student's budget and course goals

To customize your learning solution, contact your Learning Consultant for more information.

  • Loose Leaf Edition

    ISBN-10: 1285443071 | ISBN-13: 9781285443072

    List Price = $267.95  | CengageBrain Price = $267.95  | College Bookstore Wholesale Price = $201.75

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 + CengageNOW 1-Semester Instant Access

ISBN-10: 1305523466 | ISBN-13: 9781305523463

List Price = $396.95  | CengageBrain Price = $396.95  | College Bookstore Wholesale Price = $298.25

This Bundle Includes:

  • Concepts in Federal Taxation 2015
    List Price = $382.95  | CengageBrain Price = $382.95  | College Bookstore Wholesale Price = $288.25
  • CengageNOW™, 1 term (6 months) Instant Access
    List Price = $162.00  | CengageBrain Price = $162.00  | College Bookstore Wholesale Price = $162.00


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

Website  (ISBN-10: 1285439848 | ISBN-13: 9781285439846)

The student website houses ample study resources that are free to students. Here you will have access to the student resources, including chapter-by-chapter quizzes, flashcards, crossword puzzles and list of key terms. Updates to new legislation are also posted on this website.

Cengage Learning Testing, powered by Cognero Instant Access  (ISBN-10: 1285979818 | ISBN-13: 9781285979816)

Cengage Learning Testing, powered by Cognero Instant Access for Murphy/Higgins' Concepts in Federal Taxation 2015.

CengageNOW™, 1 term (6 months) Instant Access  (ISBN-10: 1285443101 | ISBN-13: 9781285443102)

CengageNOW™ is a powerful course management and online homework tool that provides robust instructor control and customization to optimize the student learning experience and meet desired outcomes. The end-of-chapter discussion questions and problems are included, expanded, and enhanced to provide a unique educational experience for students that promotes learning while addressing cognitive skills. These enhancements better engage students and encourage thinking like a tax professional.

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

CengageNOW™, 2 terms (12 months) Instant Access  (ISBN-10: 1285443128 | ISBN-13: 9781285443126)

CengageNOW™ is a powerful course management and online homework tool that provides robust instructor control and customization to optimize the student learning experience and meet desired outcomes. The end-of-chapter discussion questions and problems are included, expanded, and enhanced to provide a unique educational experience for students that promotes learning while addressing cognitive skills. These enhancements better engage students and encourage thinking like a tax professional.

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

LMS Integrated for CengageNOW™, 1 term Instant Access  (ISBN-10: 1305102207 | ISBN-13: 9781305102200)

CengageNOW™ is a powerful course management and online homework tool that provides robust instructor control and customization to optimize the student learning experience and meet desired outcomes. The end-of-chapter discussion questions and problems are included, expanded, and enhanced to provide a unique educational experience for students that promotes learning while addressing cognitive skills. These enhancements better engage students and encourage thinking like a tax professional.

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

Student Supplements

Website  (ISBN-10: 1285439848 | ISBN-13: 9781285439846)

The student website houses ample study resources that are free to students. Here you will have access to the student resources, including chapter-by-chapter quizzes, flashcards, crossword puzzles and list of key terms. Updates to new legislation are also posted on this website.

List Price = $227.95  | College Bookstore Wholesale Price = $169.00

CengageNOW™, 1 term (6 months) Instant Access  (ISBN-10: 1285443101 | ISBN-13: 9781285443102)

CengageNOW™ is a powerful course management and online homework tool that optimizes your learning experience to help you to be more successful in this course. The end-of-chapter discussion questions and problems are included, expanded, and enhanced to provide a unique educational experience for you that promotes learning while addressing cognitive skills. These enhancements will engage you in the material and help teach you to think like a tax professional.

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

CengageNOW™, 2 terms (12 months) Instant Access  (ISBN-10: 1285443128 | ISBN-13: 9781285443126)

CengageNOW™ is a powerful course management and online homework tool that optimizes your learning experience to help you to be more successful in this course. The end-of-chapter discussion questions and problems are included, expanded, and enhanced to provide a unique educational experience for you that promotes learning while addressing cognitive skills. These enhancements will engage you in the material and help teach you to think like a tax professional.

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

LMS Integrated for CengageNOW™, 1 term Instant Access  (ISBN-10: 1305102207 | ISBN-13: 9781305102200)

CengageNOW™ is a powerful course management and online homework tool that optimizes your learning experience to help you to be more successful in this course. The end-of-chapter discussion questions and problems are included, expanded, and enhanced to provide a unique educational experience for you that promotes learning while addressing cognitive skills. These enhancements will engage you in the material and help teach you to think like a tax professional.

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).