Higher Education

South-Western Federal Taxation 2016: Corporations, Partnerships, Estates and Trusts, 39th Edition

  • includes H&R Block™ Premium & Business Software CD-ROM for 2015 and RIA Checkpoint®, 1 term (6 months) Printed Access Card
  • William H. Hoffman, Jr. University of Houston
  • William A. Raabe University of Wisconsin - Whitewater
  • David M. Maloney University of Virginia
  • James C. Young Northern Illinois University
  • ISBN-10: 1305399889  |  ISBN-13: 9781305399884
  • 1104 Pages
  • © 2016 | Published
  • College Bookstore Wholesale Price = $277.50
  • Newer Edition Available
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About

Overview

Introduce students to corporate tax concepts and today’s ever-changing tax legislation with the respected SOUTH-WESTERN FEDERAL TAXATION 2016 CORPORATIONS, PARTNERSHIPS, ESTATES & TRUSTS, 39E. Renowned for its understandable, time-tested presentation, this book remains the most effective solution for helping students thoroughly grasp information critical to the tax preparer, such as C corporations, flow-through entities, taxes on financial statements, and tax planning. This edition reflects the latest tax legislation at the time of publication, while continuous online updates keep your course current with additional tax law changes. This edition builds on the book’s proven learning features with clearer new examples, more summaries, and meaningful tax scenarios that help clarify concepts sharpen critical-thinking, writing, and research skills. In addition to complete instructor support, each new book offers leading professional software, including H&R Block® software, Checkpoint® (Student Edition) from Thomson Reuters, CengageNOW™ online homework solution and MindTap® Reader. Trust SOUTH-WESTERN FEDERAL TAXATION 2016 CORPORATIONS, PARTNERSHIPS, ESTATES & TRUSTS, 39E for the most thorough coverage of individual income taxation available today.

Features and Benefits

  • Chapter Outlines Help You And Your Students Prepare For Class. Each chapter begins with a chapter outline that directs students to the right topics for study or reference.
  • Practical Tax Scenarios Start Every Chapter. The “Big Picture: Tax Solutions for the Real World” feature gives a glimpse into the lives, families, careers and tax situations of typical tax filers. Each Big Picture case asks students to apply what they will learn in the upcoming chapter to develop the best tax solution for these real-life dilemmas.
  • Big Picture Examples Help Students Follow Clients Through The Chapter. Approximately four examples out of the many in every chapter are based on the “Big Picture” tax situation that opens the chapter. These examples help students understand new topics as they bring a more consistent application of data and practical tax stories that span the whole chapter.
  • Practical Conclusions Reinforce Tax Scenarios Introduced In Big Picture Examples. Returning to the client situations introduced in the chapter opening, end-of-chapter “Refocus on the Big Picture” summaries and tax planning scenarios apply concepts and chapter topics with professional solutions. A “What If?” section demonstrates how tax treatments can vary as a result of potential changes in the filer’s situation, further preparing readers for tax planning.
  • Real-World Features Help Students Understand Today’s Modern Tax Environment. Drawn from today’s business and popular press, “Tax in the News” features enliven class discussions by presenting current issues that illustrate the chapter material and apply them to real life. More than 40 examples in each chapter use realistic situations to illustrate the complexities of the tax law and allow students to integrate chapter concepts with illustrations and examples.
  • Learning Features Help Students Develop Professional Skills. “Ethics and Equity” features spark critical thinking and discussion as students evaluate their own value systems while reviewing ethical scenarios. Most chapters include a separate section that details how the tax law can be applied to reach taxpayer’s goals. Tax planning applications also appear throughout each chapter. “Global Tax Issues” highlight how taxation is affected by international concerns and illustrate tax laws across the globe. Students develop decision-making and analytical skills with Decision-Making Problems.
  • CengageNOW Optimizes Student Learning and Produces Desired Outcomes. CengageNOW is a powerful course management system and online learning tool that provides control and customization for your course. CengageNOW includes end-of-chapter homework from the text, “What If” versions of problems, algorithms, detailed feedback, test bank questions, student personalized study plan, superior tagging, and more. CengageNOW questions and features were specifically designed to create a complete learning system for students, taking them from topic introduction through concept mastery.
  • H&R Block® Tax Preparation Software Accompanies Each Text. One of today’s most popular tax preparation software choices, H&R Block software is available with each new copy of this edition and provides an ideal tool for guiding students through the tax return process with a dependable, user-friendly approach.
  • Checkpoint® By Thomas Reuters (Student Edition) Provides Industry-Leading, Hands-On Professional Experience. The industry-leader for online information that tax and accounting professionals trust, Checkpoint provides a comprehensive collection of tax law, cases, and rulings with exclusive analytical insights and built-in productivity tools to make research more efficient. An intuitive web-based design makes it fast and simple for students to locate what they need. Checkpoint Student Edition is available with each new edition.

Table of Contents

PART I: INTRODUCTION.
1. Understanding and Working with the Federal Tax Law.
PART II: CORPORATIONS.
2. Corporations: Introduction and Operating Rules.
3. Corporations: Special Situations.
4. Corporations: Organization and Capital Structure.
5. Corporations: Earnings & Profits and Dividend Distributions.
6. Corporations: Redemptions and Liquidations.
7. Corporations: Reorganizations.
8. Consolidated Tax Returns.
9. Taxation of International Transactions.
PART III: FLOW-THROUGH ENTITIES.
10. Partnerships: Formation, Operations, and Basis
11. Partnerships: Distributions, Transfer of Interests, and Terminations.
12. S Corporations.
13. Comparative Forms of Doing Business.
PART IV: ADVANCED TAX PRACTICE CONSIDERATIONS.
14. Taxes on the Financial Statements.
15. Exempt Entities.
16. Multistate Corporate Taxation.
17. Tax Practice and Ethics.
PART V: FAMILY TAX PLANNING.
18. The Federal Gift and Estate Taxes.
19. Family Tax Planning.
20. Income Taxation of Trusts and Estates.
Appendix A: Tax Rate Schedules and Tables.
Appendix B: Tax Forms.
Appendix C: Glossary.
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 Tables.
Index.

What's New

  • New End-Of-Chapter Computational Exercises Provide Essential Practice. Students gain critical hands-on experience and practice with new Computational Exercises in most chapters that tie directly to chapter Learning Objectives.
  • New Clear Design for This Edition’s Examples Clarifies and Reinforces Concepts. Enhancements to this edition’s design make it easier for students to read and quickly understand the concepts.
  • Additional Concept Summaries Assist In Review and Ensure Understanding. At least three fresh new Concept Summaries per chapter recap key points and demonstrate the value of what readers are learning.
  • More CengageNOW Algorithmic Problems Provide Critical Hands-On Practice. Additional Algorithmic problems in CengageNOW reinforce tax content in each chapter.
  • Engaging New Interior Design and Distinctive Learning Features Capture and Direct Readers’ Attention. New four-color interior design, and streamlined coverage and labeling of chapter pedagogy enhance a thorough understanding of each chapter’s concepts.
  • Streamlined Ancillary Resources Place Support At Your Fingertips. Quickly find the support you need for this edition with PowerPoint® slides and other helpful resources now included in the Instructor’s Guide for your convenience.

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.

ePack: Text + H&R Block™ Premium & Business Software CD-ROM for 2015 + RIA Checkpoint®, 1 term (6 months) Printed Access Card + LMS Integrated for CengageNOW™, 1 term Instant Access

ISBN-10: 1305773543  | ISBN-13: 9781305773547

List Price = $381.95  | CengageBrain Price = $381.95  | College Bookstore Wholesale Price = $287.50

This Bundle Includes:

  • South-Western Federal Taxation 2016: Corporations, Partnerships, Estates and Trusts
    List Price = $368.95  | CengageBrain Price = $368.95  | College Bookstore Wholesale Price = $277.50
  • LMS Integrated for CengageNOW™, 1 term Instant Access
    List Price = $162.00  | CengageBrain Price = $162.00  | College Bookstore Wholesale Price = $162.00


ePack: Text + H&R Block™ Premium & Business Software CD-ROM for 2015 + RIA Checkpoint®, 1 term (6 months) Printed Access Card + LMS Integrated for CengageNOW™, 1 term Instant Access

ISBN-10:  1305777530  | ISBN-13:  9781305777538

List Price = $381.95  | CengageBrain Price = $381.95  | College Bookstore Wholesale Price = $287.50

This Bundle Includes:

  • South-Western Federal Taxation 2016: Corporations, Partnerships, Estates and Trusts
    List Price = $368.95  | CengageBrain Price = $368.95  | College Bookstore Wholesale Price = $277.50
  • LMS Integrated for CengageNOW™, 1 term Instant Access
    List Price = $162.00  | CengageBrain Price = $162.00  | College Bookstore Wholesale Price = $162.00


ePack: Text + H&R Block™ Premium & Business Software CD-ROM for 2015 and RIA Checkpoint®, 1 term (6 months) Printed Access Card + CengageNOW™, 1 term Instant Access

ISBN-10:  1305777514  | ISBN-13:  9781305777514

List Price = $381.95  | CengageBrain Price = $381.95  | College Bookstore Wholesale Price = $287.50

This Bundle Includes:

  • South-Western Federal Taxation 2016: Corporations, Partnerships, Estates and Trusts
    List Price = $368.95  | CengageBrain Price = $368.95  | College Bookstore Wholesale Price = $277.50
  • CengageNOW™, 1 term Instant Access
    List Price = $162.00  | CengageBrain Price = $162.00  | College Bookstore Wholesale Price = $162.00


Bundle: Text + H&R Block™ Premium & Business Software CD-ROM for 2015 + RIA Checkpoint®, 1 term (6 months) Printed Access Card + LMS Integrated for CengageNOW™, 1 term Printed Access Card

ISBN-10:  1305777549 | ISBN-13:  9781305777545

List Price = $381.95  | College Bookstore Wholesale Price = $287.50

This Bundle Includes:

  • South-Western Federal Taxation 2016: Corporations, Partnerships, Estates and Trusts
    List Price = $368.95  | CengageBrain Price = $368.95  | College Bookstore Wholesale Price = $277.50
  • LMS Integrated for CengageNOW™, 1 term Printed Access Card
    List Price = $162.00  | College Bookstore Wholesale Price = $121.50


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

Instructor's Companion Website  (ISBN-10: 130540002X | ISBN-13: 9781305400023)

All instructor resources for South-Western Federal Taxation 2016: Corporations, Partnerships, Estates and Trusts, 39E are now available at your fingertips on the Instructor Companion Website. Resources available for your convenience include the Solutions Manual, Test Bank, and PowerPoint Lectures with Instructor’s Notes.

Instructor's Solutions Manual  (ISBN-10: 1305400038 | ISBN-13: 9781305400030)

Written by the South-Western Federal Taxation editors and authors to ensure the highest quality, the Solutions Manual features solutions arranged in accordance with the sequence of chapter material. Solutions to all homework items are tagged with Level of Difficulty and Learning Objective(s) as well as the AACSB’s and AICPA’s core competencies. You have more control than ever in selecting homework to match the topics covered. The Solutions Manual is available in print and on the Instructor Companion Website.

Cengage Learning Testing, powered by Cognero® Instant Access  (ISBN-10: 1305399994 | ISBN-13: 9781305399990)

Cengage Learning Testing, powered by Cognero, is a flexible, online system that allows you to author, edit, and manage test bank content from multiple Cengage Learning solutions. Create multiple test versions in an instant and deliver tests from your learning management system, your classroom, or wherever you want!

CengageNOW™, 1 term Instant Access  (ISBN-10: 1305399951 | ISBN-13: 9781305399952)

With its engaging learning and assessment tools, CengageNOW supports the entire student workflow, from motivation to mastery. For instructors, 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

LMS Integrated for CengageNOW™, 1 term Instant Access  (ISBN-10: 1305664736 | ISBN-13: 9781305664739)

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

2016 Tax Media Pack (with H&R Block™ Premium & Business Software CD-ROM for 2015) 1 term (6 months) Printed Access Card  (ISBN-10: 1305396472 | ISBN-13: 9781305396470)

Now students purchasing an e-version of the text can get the software packaged with the printed text. The Tax Media Pack includes H&R Block® tax preparation software and Checkpoint® by Thomson Reuters (student edition). H&R Block tax preparation software, one of today’s most popular tax preparation tools, guides users through the tax return process. Checkpoint, the online industry leader that tax and accounting professionals trust, provides hands-on professional experience with a comprehensive collection of tax laws, cases, and rulings as well as built-in productivity tools.

List Price = $23.00  | CengageBrain Price = $23.00  | College Bookstore Wholesale Price = $17.25

Student Supplements

CengageNOW™, 1 term Instant Access  (ISBN-10: 1305399951 | ISBN-13: 9781305399952)

CengageNOW goes beyond memorization and basic homework practice to engage you, the student, in relevant multimedia study tools, detailed feedback, and assessment tools that help you reach true understanding. Activities are carefully constructed and aligned to learning taxonomies with the entire workflow in mind−from basic knowledge and comprehension to application and analysis.

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

LMS Integrated for CengageNOW™, 1 term Instant Access  (ISBN-10: 1305664736 | ISBN-13: 9781305664739)

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

2016 Tax Media Pack (with H&R Block™ Premium & Business Software CD-ROM for 2015) 1 term (6 months) Printed Access Card  (ISBN-10: 1305396472 | ISBN-13: 9781305396470)

If you are purchasing an e-version of the text, this Tax Media Pack offers you the software that comes packaged with the printed text, including H&R Block® tax preparation software and Checkpoint® by Thomson Reuters (student edition). H&R Block tax preparation software, one of today’s most popular tax preparation tools, guides users through the tax return process. Checkpoint, the online industry leader that tax and accounting professionals trust, provides hands-on professional experience with a comprehensive collection of tax laws, cases, and rulings as well as built-in productivity tools.

List Price = $23.00  | CengageBrain Price = $23.00  | College Bookstore Wholesale Price = $17.25

Meet the Author

Author Bio

William H. Hoffman, Jr.

Dr. William H. Hoffman, Jr., earned his 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. Recognized for his teaching excellence, Dr. Hoffman's academic experience includes The University of Texas (1957−1961), Louisiana State University (1961−1967), and the University of Houston (1967−1999). A frequently requested professional speaker, 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.

William A. Raabe

William A. Raabe, Ph.D., CPA, was the Wisconsin Distinguished Professor of Taxation. He taught at Ohio State, Arizona State, the Capital University (OH) Law School, and the Universities of Wisconsin – Milwaukee and 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. Dr. Raabe also writes 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 Emeritus 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. Upon joining the Virginia faculty in January 1984, Dr. Maloney taught federal taxation in the graduate and undergraduate programs and was a recipient of major research grants from the Ernst & Young and KPMG Foundations. Dr. Maloney has published work in numerous professional journals, including Journal of Taxation, The Tax Adviser, Tax Notes, Corporate Taxation, Accounting Horizons, Journal of Taxation of Investments, and Journal of Accountancy.

James C. Young

Dr. James C. Young is the Crowe Horwath Professor of Accountancy at Northern Illinois University. A graduate of Ferris State University (B.S.) and Michigan State University (M.B.A. and Ph.D.), Dr. Young’s research focuses on taxpayer responses to the income tax using archival data. His dissertation received the PricewaterhouseCoopers/American Taxation Association Dissertation Award and his subsequent research has received funding from a number of organizations, including the Ernst & Young Foundation Tax Research Grant Program. His work has been published in a variety of academic and professional journals, including the National Tax Journal, The Journal of the American Taxation Association, and Tax Notes. Dr. Young is a Northern Illinois University Distinguished Professor. He received the Illinois CPA Society Outstanding Accounting Educator Award in 2012 and has received university teaching awards from Northern Illinois University, George Mason University, and Michigan State University.