South-Western Federal Taxation 2014: Taxation of Business Entities, 17th Edition

  • includes H&R Block @ Home Tax Preparation Software CD-ROM and RIA CheckPoint 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: 1285424514
  • ISBN-13: 9781285424514
  • 960 Pages Hardcover 
  • Previous Editions: 2013, 2012, 2011
  • © 2014 | Published
  • List Price = $ 293.95
  • For quantity discounts, Contact your Representative
  • For single copy purchases, visit CengageBrain.com
 

About The Solution

Overview

Clearly introduce concepts related to the taxation of business entities and today's ever-changing tax legislation with Smith/Raabe/Maloney's SOUTH-WESTERN FEDERAL TAXATION 2014: TAXATION OF BUSINESS ENTITIES, 17E. Renowned for its understandable, time-tested presentation, this book remains the most effective solution for helping students thoroughly grasp taxation concepts and applications − now with even more coverage of tax planning. This 2014 edition reflects the latest tax legislation. Online updates highlight relevant tax law changes as they take effect to ensure your course remains current. New and proven learning features, such as additional "Big Picture" examples, memorable tax scenarios and "What If?" case variations, help clarify concepts while providing opportunities to sharpen students' critical-thinking, writing skills, and online research skills. In addition to comprehensive instructor support, each new book includes H&R Block At Home® software, and the professional tax research tool, Checkpoint® (Student Edition) from Thomson Reuters. CengageNOW™ is available as an optional online homework solution. Trust SOUTH-WESTERN FEDERAL TAXATION 2014: TAXATION OF BUSINESS ENTITIES for the most effective tax coverage to guide your students.


Additional Product Information

Features/Benefits

  • Checkpoint® by Thomson Reuters (student edition) provides industry-leading, hands-on professional experience. Give students the professional tools to succeed in tax research with Checkpoint®, 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 to locate what you need. Checkpoint® Student Edition is automatically available with each new edition.
  • Popular H&R Block at Home® tax preparation software accompanies each new text. One of today's most popular tax preparation software choices, H&R Block At Home™ is available with each new copy of this edition and provides an ideal tool for guiding users through the tax return process with a dependable, user-friendly approach.
  • Emphasis on tax planning helps students effectively consider tax options. This edition provides focus on tax planning to better equip students in analyzing financial situations and plans from a tax perspective.
  • Materials highlight today's high-interest controversial topics. Intriguing taxation coverage will captivate students and bring concepts to life as this edition emphasizes controversial materials and topics of current interest topics, such as the Alternative Minimum Tax (AMT).
  • "Financial Disclosure Insights" clearly illustrate how taxation affects a company's financial statements. These features highlight today's actual companies and work in conjunction with the book's best-of-class commentary to better prepare your students to understand relationship of financial disclosures to financial statements. Students also gain a solid understanding of the tax issues surrounding international financial reporting standards (IFRS).
  • Proven homework and testing questions offer more tools to assess student progress. This edition's extensive end-of-chapter homework and variety of Test Bank items provide additional choices for assigning student practice testing and assessing student progress in your course.
  • Powerful chapter 3 highlights topics most important in a corporate-based taxation course. This edition's Chapter 3, "Taxes on the Financial Statements," outlines book-tax differences, discusses principles of FAS 109, the valuation allowance, tax disclosures in the financial statements, and benchmarking a company's tax position. These key topics prepare your students for success in corporations-based taxation.
  • Solutions manual and test bank provide outcomes-based planning tools. All Questions and Problems in this edition and all Test Bank items are identified 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 in your course planning and assessment needs.
  • "The Big Picture" chapter-opening vignettes make taxation come to life. "The Big Picture" chapter openers 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. End-of-chapter "Refocus on the Big Picture"" features follow up on "The Big Picture" scenario with a professional solution using the chapter's concepts. A "What If?" section follows to demonstrate how tax reporting could change with different variables.
  • "The Big Picture" examples closely connect opening cases with chapter content. "The Big Picture" examples throughout selected chapters in this edition effectively reinforce the chapter's opening case subjects with chapter concepts. These Examples provide an ongoing "tax case storyline" that spans the chapter's topics, providing context and continuity.
  • Homework linked to learning objectives guide student study. Each end-of-chapter question and problem is clearly labeled with the Learning Objective(s) that appears beside the key topics in the text margins. Students can easily go back to that section of the text to study a specific concept. This saves them time as they complete homework and helps them organize chapter information.
  • Unique "Global Tax Issues" clearly address international concerns. Students gain valuable insights into both the effects of international issues on taxation and the impact of tax law across the world. This knowledge better equips students to face today's ever-increasing global concerns in the world marketplace.
  • End-of-Chapter communication assignments and decision-making problems encourage analytical and writing skills. Developed to support the AICPA curriculum, focused communication assignments and decision-making problems help students develop critical thinking and communication skills essential to success throughout their careers.
  • "Issue Identification Questions" throughout the text further build critical-thinking skills by identifying tax issues and encouraging rich, multi-faceted discussion that extends well beyond one right answer.
  • Extensive appendices make this a thorough time-tested tax text you can trust. These comprehensive appendices offer you the flexibility to extend the value, research scope, and thorough coverage in your course. You'll find material on tax rate schedules, tax forms, an extensive glossary of tax terms, tables of code sections, regulations, revenue procedures and revenue rulings cited, a citatory example, Comprehensive Tax Return Problems (with solutions in the Instructor's Guide), and an appendix on depreciation.

What's New

  • The latest tax law changes and updates ensure today's most current coverage. Up-to-the-minute updates through this edition, online homework and supplements reflect the most recent changes in tax legislation and indexing of statutory amounts, as of publication. To continue the currency, the authors also provide legislative updates online as they take effect at www.cengage.com/community/taxation.
  • New and revised text problems and test questions reflect today's latest tax challenges. At least 20-30 percent of the problem materials in the text and test items throughout this edition's Test Bank are new or significantly revised to reflect the latest tax developments.
  • CengageNOW™ is a powerful course management and online learning tool that optimizes the student learning experience and produces better outcomes. CengageNOW includes: All end-of-chapter homework from the text that is expanded and enhanced to follow the workflow of various client scenarios. "What If" versions of problems in CengageNOW provide students with additional opportunities to practice key taxation concepts and scenarios. These alternate versions allow students to work the same problems multiple times with changing tax attributes. Detailed feedback for each homework question enables your students to learn as they go. A Personalized Study Plan complete with pre- and post-tests, an eBook, practice quizzes, and more.

Alternate Formats

Choose the Format that Best Fits Your Student's Budget and Course Goals

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


  • Looseleaf Edition
    ISBN-10: 1285181530 | ISBN-13: 9781285181530
    List Price = $190.95

Best Buy Packages

Other Popular Packages

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Bundle: Text + CengageNOW Printed Access Card
ISBN-10: 1285718062  | ISBN-13: 9781285718064
List Price = $307.95  | CengageBrain Price = $245.99


Bundle: Text + Practice Set
ISBN-10:  1285714288  | ISBN-13:  9781285714288
List Price = $366.95  | CengageBrain Price = $293.49


Bundle: Text + Practice Sets for Corporations, Partnerships, Estates and Trusts + Practice Set for Individual Income Taxes
ISBN-10:  1285722310  | ISBN-13:  9781285722313
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Bundle: Text + Practice Sets
ISBN-10:  1285722299  | ISBN-13:  9781285722290
List Price = $356.95  | CengageBrain Price = $285.49


ePack: South-Western Federal Taxation 2014: Taxation of Business Entities (with H&R Block @ Home Tax Preparation Software CD-ROM and RIA CheckPoint Printed Access Card), 17th + Income Tax Fundamentals 2012 (with H&R BLOCK At Home™ Tax Preparation Software CD-ROM), 30th + CengageNOW Instant Accesss
ISBN-10:  1418885258 | ISBN-13:  9781418885250
List Price = $554.95  | CengageBrain Price = $443.49


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.

Solutions Manual  (ISBN-10: 1285181484 | ISBN-13: 9781285181486)

Find solutions to all of this edition's homework problems in this well organized Solutions Manual. 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 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. Solutions to all homework items are tagged with their Estimated Time to Complete, Level of Difficulty, and Learning Objectives, as well as to a complete set of student outcomes.


Examview and Instructor Resource CD-ROM  (ISBN-10: 1285181492 | ISBN-13: 9781285181493)


Practice Sets  (ISBN-10: 128518064X | ISBN-13: 9781285180649)

These comprehensive practice sets are designed to be completed after covering related materials on tax preparation software, such as H&R Block at Home®, to complete tax forms and instructions. These practice sets provide a realistic and challenging experience to accompany the text.

List Price = $62.95  | CengageBrain Price = $62.49  | College Bookstore Wholesale Price = $46.75


CengageNOW Instant Access  (ISBN-10: 1285191099 | ISBN-13: 9781285191096)

CengageNOW™ is a powerful course management and online learning tool that optimizes the student learning experience and produces better outcomes. CengageNOW includes: All end-of-chapter homework from the text that is expanded and enhanced to follow the workflow of various client scenarios. "What If" versions of problems in CengageNOW provide students with additional opportunities to practice key taxation concepts and scenarios. These alternate versions allow students to work the same problems multiple times with changing tax attributes. Detailed feedback for each homework question enables you to learn as you go. A Personalized Study Plan complete with pre- and post-tests, an eBook, practice quizzes, and more.

List Price = $146.00  | CengageBrain Price = $146.00  | College Bookstore Wholesale Price = $146.00


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.

Practice Sets  (ISBN-10: 128518064X | ISBN-13: 9781285180649)

These comprehensive practice sets are designed to be completed after covering related materials on tax preparation software, such as H&R Block at Home®, to complete tax forms and instructions. These practice sets provide a realistic and challenging experience to accompany the text.

List Price = $62.95  | CengageBrain Price = $62.49  | College Bookstore Wholesale Price = $46.75


CengageNOW Instant Access  (ISBN-10: 1285191099 | ISBN-13: 9781285191096)

CengageNOW™ is a powerful course management and online learning tool that optimizes the student learning experience and produces better outcomes. CengageNOW includes: All end-of-chapter homework from the text that is expanded and enhanced to follow the workflow of various client scenarios. "What If" versions of problems in CengageNOW provide students with additional opportunities to practice key taxation concepts and scenarios. These alternate versions allow students to work the same problems multiple times with changing tax attributes. Detailed feedback for each homework question enables you to learn as you go. A Personalized Study Plan complete with pre- and post-tests, an eBook, practice quizzes, and more.

List Price = $146.00  | CengageBrain Price = $146.00  | College Bookstore Wholesale Price = $146.00


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.