South-Western Federal Taxation 2023

Annette Nellen, J.D., CPA, CGMA, directs San José State University’s graduate tax program (MST) and teaches courses in tax research, tax fundamentals, accounting methods, property transactions, employment tax, ethics, leadership and tax policy. Professor Nellen is a graduate of CSU Northridge, Pepperdine (MBA) and Loyola Law School. Prior to joining SJSU in 1990, she was with a Big 4 firm and the IRS. At SJSU, Professor Nellen is a recipient of the Outstanding Professor and Distinguished Service Awards. Professor Nellen is an active member of the tax sections of the AICPA and American Bar Association, including chairing the AICPA Virtual Currency Task Force. In 2013, she received the AICPA Arthur J. Dixon Memorial Award, the highest award given by the accounting profession in the area of taxation. Professor Nellen is the author of Bloomberg BNA Tax Portfolio, Amortization of Intangibles. She has published numerous articles in the AICPA Tax Insider, Tax Adviser, Tax Notes State and The Journal of Accountancy. She is a research fellow with the Silicon Valley Institute for Regional Studies. Professor Nellen has testified before the House Ways and Means, Senate Finance Committees and other committees on Federal and state tax reform. Professor Nellen maintains the 21st Century Taxation Website and blog (21stcenturytaxation.com) as well as websites on tax policy and reform, virtual currency and state tax issues (sjsu.edu/people/annette.nellen/). Andrew D. Cuccia, Ph.D., CPA, is Steed Professor of Accounting at the University of Oklahoma. He is a graduate of Loyola University, New Orleans (BBA) and the University of Florida (Ph.D.). Prior to entering academia, Cuccia practiced as a CPA with a Big 4 accounting firm. Before joining the University of Oklahoma, he was on the faculty at Louisiana State University and the University of Illinois. His research focuses on taxpayer and tax professional judgment and decision-making and has been published in several journals, including The Accounting Review, The Journal of Accounting Research, The Journal of the American Taxation Association and Tax Notes. He has taught undergraduate and graduate courses in income tax fundamentals as well as graduate courses in corporate tax, tax policy and tax research. Andy is a past president of the American Taxation Association and a member of the American Accounting Association and the AICPA. Mark B. Persellin, Ph.D., CPA, CFP, is the Ray and Dorothy Berend Professor of Accounting at St. Mary’s University. He is a graduate of the University of Arizona (BS), the University of Texas at Austin (MPA in Taxation) and the University of Houston (Ph.D.). He teaches personal income tax, business income tax and research in federal taxation. Prior to joining St. Mary’s University in 1991, Professor Persellin taught at Florida Atlantic University and Southwest Texas University (Texas State University) and worked on the tax staff of a Big 4 firm. His research has been published in numerous academic and professional journals, including The Journal of the American Taxation Association, The Accounting Educators’ Journal, The Tax Adviser, The CPA Journal, Journal of Taxation, Corporate Taxation, The Tax Executive, TAXES—The Tax Magazine, Journal of International Taxation and Practical Tax Strategies. In 2003, Professor Persellin established the St. Mary’s University Volunteer Income Tax Assistance (VITA) site and he continues to serve as a trainer and reviewer at the site. James C. Young is the PwC Professor of Accountancy Emeritus at Northern Illinois University. A graduate of Ferris State University (BS) and Michigan State University (MBA and Ph.D.), Jim’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. Jim is a Northern Illinois University Distinguished Professor, 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.

• PART I: THE WORLD OF TAXATION.1. Introduction to Taxation.2. Working with the Tax Law.3. Taxes in 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: TAXATION OF INDIVIDUALS.9. Individuals as Taxpayers.10. Individuals: Income, Deductions, and Credits.11. Individuals as Employees and Proprietors.PART V: BUSINESS ENTITIES.12. Corporations: Organization, Capital Structure, and Operating Rules.13. Corporations: Earnings & Profits and Distributions.14. Partnerships and Limited Liability Entities.15. S Corporations.PART VI: CORPORATIONS.16. Multijurisdictional Taxation.17. Business Tax Credits and the Alternative Minimum Tax.18. Comparative Forms of Doing Business.APPENDICES.Appendix A: Tax Formulas, Tax Rate Schedules, and Tables.Appendix B: Tax Forms.Appendix C: Glossary.Appendix D: Table of Code Sections Cited.Appendix E: Present Value and Future Value Tables.Index.