Individual Taxation

Häftad, Engelska, 2019

Av Ryan Pace, Pace Ryan, Pace,

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Häftad

1 539 kr

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Designed for undergraduate students engaged in their initial study of the taxation of individuals. The text is intended for use in a single semester course. The purpose of this text is to present the fundamentals of determining gross income, exclusions, deductions, credits, etc.

Produktinformation

Utgivningsdatum2019-03-18
Mått215 x 279 x 20 mm
Vikt889 g
FormatHäftad
SpråkEngelska
Antal sidor277
Upplaga7
FörlagKendall/Hunt Publishing Co ,U.S.
ISBN9781524985790

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PrefaceAbout the AuthorPART 1 INTRODUCTION TO INDIVIDUAL TAXATIONChapter 1 Tax Law in General A. Constitutional Authority of Congress to Impose a TaxB. Organization of the Internal Revenue CodeC. Other Sources of Tax LawD. Types of TaxesE. The IRSChapter 2 Individual Income Tax Formula and Tax Rates A. Individual Income Tax Formula1. Income from Whatever Source Derived2. Exclusions3. Gross Income4. Deductions "for" Adjusted Gross Income5. Adjusted Gross Income6. Deductions "from" Adjusted Gross Income7. Taxable Income8. Tax Rate9. Gross Tax Liability10. Tax Credits and Prepaid Taxes11. Net Tax Liability or RefundB. Income Tax Rates for IndividualsC. IRS Form 1040PART 2 FILING STATUS, PERSONAL AND DEPENDENCY EXEMPTIONS STANDARD DEDUCTION, AND FILING REQUIREMENTSChapter 3 Filing Status A. SingleB. Head of HouseholdC. Married Filing Jointly and Married Filing SeparatelyD. Surviving SpouseE. Tax Rate Schedules Based on Filing Status1. Single2. Head of Household3. Married Filing Jointly and Surviving Spouses (Qualifying Widow(er))4. Married Filing SeparatelyF. "Kiddie" TaxChapter 4 Exemptions and the Standard Deduction A. Personal ExemptionB. Dependency Exemption1. Qualifying Childi. Relationship Testii. Principal Place of Abode Testiii. Age Testiv. Support Test2. Qualifying Relativei. Relationship Testii. Gross Income Testiii. Support TestC. Standard DeductionChapter 5 Filing Requirements, Interest and Penalties A. Filing Requirements1. Who Must File?2. What Form Is Filed?3. When Is the Tax Return Due?B. InterestC. Civil Penalties1. Failure to File and Failure to Pay Penalties2. Accuracy-Related Penalties3. Other Civil PenaltiesD. Criminal PenaltiesPART 3 INCLUSIONS IN GROSS INCOMEChapter 6 Gross Income Defined, Wages, Salaries, Tips, Business Income, Unemployment Compensation, and Social Security Benefits A. Assignment of Income Doctrine and Wherewithal to Pay Concept1. Assignment of Income Doctrine2. Wherewithal-to-Pay ConceptB. Gross Income DefinedC. Wages, Salaries, Tips, and Business Income1. Employee v. Independent Contractor2. Reporting RequirementsD. Unemployment CompensationE. Social Security BenefitsChapter 7 Interest, Dividends, Capital Gains, Rental, and Royalty Income A. InterestB. DividendsC. Capital Gains and LossesD. Rental IncomeE. Royalty IncomeF. Medicare Tax on Net Investment IncomeChapter 8 Prizes, Awards, Tax Refunds, Alimony, and Other Income A. Prizes and AwardsB. Income Tax RefundsC. AlimonyD. Gambling and Lottery WinningsE. Cancellation of IndebtednessF. Income From Pass-Through EntitiesG. Treasure FindsChapter 9 Transactions in Property A. TerminologyB. Classification of Assets1. Capital Assets2. Ordinary Assets3. Section 1231 AssetsPART 4 EXCLUSIONS FROM GROSS INCOMEChapter 10 Common Exclusions from Gross Income A. Gifts and InheritancesB. Life Insurance ProceedsC. Tax-Exempt InterestD. ScholarshipsE. Payment on Account of Injury and Sickness1. Workers' Compensation2. Other Payments on Account of Personal Injury or SicknessF. Income from the Discharge of Debt1. Bankruptcy2. Insolvency3. Student LoansG. Foreign Earned Income ExclusionH. Sale of a Personal ResidenceChapter 11 Exclusion of Employer-Provided Employee BenefitsA. Accident and Health PlansB. Cafeteria PlansC. Dependent Care AssistanceD. Educational AssistanceE. Adoption AssistanceF. Retirement Plan ContributionsG. Meals and LodgingH. Section 132 Fringe Benefits1. No-Additional-Cost Service2. Qualified Employee Discount3. Working Condition Fringe4. De Minimis Fringe5. Qualified Transportation Fringe6. Qualified Moving Expense Reimbursement7. Qualified Retirement Planning ServicesI. Employee Achievement AwardsJ. Group Term Life Insurance PremiumsPART 5 DEDUCTIONS IN ARRIVING AT ADJUSTED GROSS INCOME (DEDUCTIONS "FOR" AGI)Chapter 12 Common Business Deductions A. Ordinary and Necessary Business ExpensesB. Travel and Transportation Expenses1. Travel2. TransportationC. Depreciation and Amortization1. Depreciation Methodsi. Tangible Personal Propertyii. Real Property2. Recovery Periodsi. Tangible Personal Propertyii. Real Property3. Conventionsi. Tangible Personal Propertyii. Real Property4. Other Depreciation Issuesi. Property That Cannot Be Depreciatedii. The Section 179 Electioniii. Bonus Depreciationiv. Listed Propertyv. Other Terminology and Special Rules5. Amortization6. IRS Form 4562D. Other Common Business ExpensesE. Home Office Expenses1. In General2. Safe HarborChapter 13 Losses and Bad Debts A. Losses on Personal-Use AssetsB. Net Operating LossesC. Bad DebtsD. Hobby LossesE. At-Risk LossesF. Passive LossesG. Losses on Transactions with a Related PartyH. Other LossesChapter 14 Alimony, Moving Expenses, Educational Expenses, Student Loan Interest, and Tuition and Fees A. AlimonyB. Moving ExpensesC. Educational ExpensesD. Student Loan Interest DeductionChapter 15 Individual Retirement Account Contributions, One-Half Self-Employment Tax, and Other "For" AGI Deductions A. Individual Retirement Account ContributionsB. Health Savings AccountsC. Certain Retirement Plans for Self-Employed IndividualsD. One-Half of Self-Employment TaxE. Penalty on Early Withdrawal of SavingsF. Teachers' Classroom ExpensesPART 6 ITEMIZED DEDUCTIONS (DEDUCTIONS "FROM" AGI)Chapter 16 Medical Expenses, Taxes, and Interest Expense A. Medical ExpensesB. TaxesC. Interest Expenses1. Personal Residence Interest2. Investment Interest3. Personal InterestChapter 17 Charitable Contributions A. Charitable Contributions in GeneralB. Public Charities and Private FoundationsC. Limitations on Deductibility of Donations to Public CharitiesD. Limitations on Deductibility of Donations to Private FoundationsE. Reporting, Documentation, and Other Special Rules1. Reporting and Documentation2. Other Special RulesPART 7 TAX CREDITSChapter 18 Common Tax Credits for Individuals A. Earned Income CreditB. Child Tax CreditC. American Opportunity Credit and Lifetime Learning Credit1. American Opportunity Tax Credit2. Lifetime Learning CreditD. Credit for Child and Dependent Care ExpensesE. Adoption CreditF. Foreign Tax CreditChapter 19 Prepayments of Tax and Other Tax Credits A. Prepayment of TaxesB. Business CreditsC. Residential Energy Efficient Property CreditD. Qualified Retirement Savings Contributions Credit ("Saver's Credit")E. Other CreditsPART 8 TIMING OF RECOGNIZING INCOME AND DEDUCTIONSChapter 20 Taxable Year and Accounting Methods A. Taxable YearB. Accounting Methods1. Cash Method2. Accrual Method3. Inventories4. Other Accounting Method and Timing IssuesPART 9 SPECIAL TOPICSChapter 21 Special Issues in Property Transactions A. Depreciation Recapture1. Depreciation Recapture on Sale of Depreciable Personal Property2. Depreciation Recapture on Sale of Depreciable Real PropertyB. Like-Kind ExchangesC. Involuntary ConversionsChapter 22 Qualified Retirement Plans and Deferred Compensation Arrangements A. Qualified Retirement Plans1. Pension Plansi. Defined Benefitii. Defined Contribution2. Profit-sharing Plans, Stock Bonus Plans, etc.B. Deferred Compensation Arrangements1. Restricted Stock2. Stock Optionsi. Incentive Stock Option Plansii. Nonqualified Stock Option Plans3. Other ArrangementsChapter 23 Vacation Homes and Sale of a Principal Residence A. Vacation HomesB. Sale of a Principal Residence1. Ownership and Use Requirements2. Exceptions to Ownership and Use Requirements3. Gain Due to DepreciationChapter 24 Alternative Minimum Tax A. Imposition of the AMTB. Preference ItemsC. AdjustmentsD. Exemption AmountChapter 25 Overview of Partnership Taxation A. Partnerships and Limited Liability Companies in GeneralB. The "Check-the-Box" RulesC. Transfers of Property to Partnerships and LLCsD. Separately Stated ItemsE. Guaranteed PaymentsF. Qualified Business Income DeductionG. ReportingH. DistributionsI. Sale of a Partnership InterestJ. ConclusionChapter 26 Overview of Corporate Taxation A. C Corporations1. Imposition of Income Tax2. Transfers of Property to a C Corporation3. Specific Items of Income and Deductioni. Capital Gains and Lossesii. Dividends Received Deductioniii. Net Operating Lossesiv. Charitable Contributions4. Distributions5. Mergers, Acquisitions, and Consolidationsi. Mergers and Acquisitionsii. Consolidations6. Reporting7. Sale of C Corporation Stock8. LiquidationB. S Corporations1. Qualifying for S Status2. Transfers of Property to an S Corporation3. Separately Stated Items4. Reporting5. Distributions6. Sale of S Corporation StockC. ConclusionChapter 27 Overview of Other Taxes A. Gift TaxesB. Estate TaxesC. Payroll TaxesD. Income Taxation of Trusts and EstatesE. International TaxationF. Excise TaxesG. State and Local TaxationChapter 28 Tax Audits and Appeals A. IRS Audits and AppealsB. Statute of LimitationsC. Burden of ProofD. Privileged CommunicationsE. Regulation of Tax Return PreparersChapter 29 Overview of Tax Research A. Legislative BranchB. Executive Branch1. Treasury Regulations2. Revenue Rulings, Revenue Procedures3. Private Letter Rulings4. Determination Letters5. Technical Advice MemorandaC. Judicial BranchD. Tax Research ResourcesE. Common Forms of Citation1. Internal Revenue Code2. Treasury Regulations3. Revenue Rulings and Revenue Procedures4. Private Letter Rulings and Technical Advice Memoranda5. Court Casesi. Tax Courtii. U.S. District Courtiii. U.S. Court of Federal Claimsiv. U.S. Circuit Court of Appealsv. United States Supreme CourtAppendix of FormsIndex