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Concepts in Federal Taxation 2022 (with Intuit ProConnect Tax Online 2021 and RIA Checkpoint® 1 term Printed Access Card), 29th Edition

Kevin E. Murphy, Mark Higgins, Randy Skalberg

  • Copyright 2022
  • {{checkPublicationMessage('Published', '2021-04-19T00:00:00+0000')}}
Starting At $79.95 See pricing and ISBN options
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Concepts in Federal Taxation 2022 (with Intuit ProConnect Tax Online 2021 and RIA Checkpoint® 1 term Printed Access Card) 29th Edition by Kevin E. Murphy/Mark Higgins/Randy Skalberg
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Overview

Prepare students for success in today's federal taxation with the conceptual approach and extensive practice opportunities in Murphy/Higgins/Skalberg's CONCEPTS IN FEDERAL TAXATION 2022. The authors strengthen comprehension as they present taxation as a small number of unifying concepts that students learn and then apply to tax rules and everyday economics. Students study the latest tax laws and most recent code changes in manageable segments with Concept Checks that are ideal for C.P.A. Exam review. This edition also presents tax concepts using the Internal Revenue Code to prepare students for C.P.A. Exam tax simulations. Frequent examples apply concepts to current business situations. This edition also provides more practice exercises than any other book of its kind with additional tax planning problems in the test bank. Access to Intuit® ProConnect software and RIA Checkpoint® (Student Edition) from Thomson Reuters provide experience using professional taxation tools.

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Meet the Authors

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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 a professor of accounting and the former Edward Jones Dean of the Richard A. Chaifetz 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).

Randy Skalberg

Randy Skalberg, J.D., C.P.A., L.L.M. is an associate professor of accounting and chair of the department of accounting and finance at the University of Minnesota-Duluth. He earned his L.L.M. in taxation from Case Western Reserve University and his J.D. and B.S.B. in accounting from the University of Minnesota. He has published articles in Transportation Part A, The Transportation Journal, Today’s CPA and The Tennessee CPA Journal.

Features

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  • UPDATES REFLECT TODAY'S MOST RECENT TAX LAWS AND CHANGES. The authors carefully review and update this book each year to ensure all content integrates and thoroughly explains the latest federal tax laws and up-to-the-minute changes to tax codes and regulations. This edition enables you to keep your course as current as possible with most recent changes for the current tax year.
  • TAX SIMULATION CASES SHARPEN STUDENTS' SKILLS AND PREPARE THEM FOR PROFESSIONAL TESTING. Current, intriguing Tax Simulation Cases help your students refine their tax research skills as well as writing abilities that are critical for completing tax simulations on the CPA exam. Students can complete this edition's Simulation Cases using only the Code and Regulations.
  • TAX FORM PREPARATION PROBLEMS CONNECT PRINCIPLES TO ACTUAL COMMON TAX SITUATIONS. This edition's effective Tax Form Preparation Problems in each chapter clearly connect the concepts that students are learning to actual challenges and examples of tax preparation from today's business world.
  • EXTENSIVE END-OF-CHAPTER APPLICATIONS PROVIDE CAREFULLY CRAFTED PRACTICE OPPORTUNITIES. This book is known for providing more practice opportunities than any other text of this kind on the market. Approximately 1,300 end-of-chapter applications in this edition offers a significant variety of exercises, problems and cases for hands-on reinforcement.
  • UPDATED, CONTEMPORARY EXERCISES PROVIDE HANDS-ON PRACTICE WORKING WITH THE MOST RECENT TAX CHANGES AND DEVELOPMENTS. All of the practical problems in this edition are thoroughly reviewed and revised, where needed, to reflect the latest changes in today's tax code.
  • CONCEPT CHECKS REINFORCE COMPREHENSION BEFORE STUDENTS PROGRESS. Concept Checks, integrated throughout each chapter, separate this edition's presentation of concepts into manageable segments that are simple for students to master. This proven learning tool reinforces the principles of tax law while emphasizing the underlying principles behind today's tax rules and regulations.
  • ACCOMPANYING PROFESSIONAL SOFTWARE PROVIDES IMPORTANT PRACTICAL EXPERIENCE. Each new copy of this edition includes access to Intuit® ProConnect software as well as Checkpoint® by Thomson Reuters (Student Edition) for professional experience. Intuit® ProConnect guides students through the tax return process. Checkpoint® Student Edition from Thomson Reuters helps students complete tax research with a comprehensive collection of primary tax laws, cases and rulings. Analytical insights and built-in productivity tools make research more efficient.
  • END-OF-CHAPTER HOMEWORK PROBLEMS CLEARLY CORRESPOND TO SPECIFIC LEARNING OBJECTIVES AND SECTIONS OF THE TEXT. Each exercise or problem within this edition’s end-of-chapter homework corresponds to and clearly references specific learning objectives from the book. Your students can easily locate the related sections of this edition's content for help or quick reference when completing homework assignments.
  • CONSISTENT APPROACH THROUGHOUT ALL PRACTICE OPPORTUNITIES REDUCES STUDENT CONFUSION. The authors apply a consistent, trusted learning approach to every concept and skill throughout this edition. They clearly identify all separate question parts within a problem to avoid reader confusion and to ensure that readers are able to easily problem-solve.
  • TAX PLANNING PROBLEMS IN THE TEST BANK STRENGTHEN STUDENT COMPREHENSION. In addition to providing more practice exercises than any other book of its kind, the authors have developed additional tax planning problems in this edition's test bank. These up-to-date tax planning problems ensure your students understand key principles and have numerous, varied opportunities to practice the skills they're learning.
  • END-OF-CHAPTER HOMEWORK PROBLEMS CLEARLY CORRESPOND TO SPECIFIC LEARNING OBJECTIVES AND SECTIONS OF THE TEXT. Each exercise or problem within this edition’s end-of-chapter homework corresponds to and clearly references specific learning objectives from the book. Your students can easily locate the related sections of this edition's content for help or quick reference when completing homework assignments.
  • CONCEPT CHECKS REINFORCE COMPREHENSION BEFORE STUDENTS PROGRESS. Concept Checks, integrated throughout each chapter, separate this edition's presentation of concepts into manageable segments that are simple for students to master. This proven learning tool reinforces the principles of tax law while emphasizing the underlying principles behind today's tax rules and regulations.

Table of Contents

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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).
Appendix D: How to Decode the Code.
Glossary.
Index.

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  • ISBN-10: 0357709608
  • ISBN-13: 9780357709603
  • RETAIL $79.95

  • ISBN-10: 0357515803
  • ISBN-13: 9780357515808
  • RETAIL $89.95

  • ISBN-10: 0357515781
  • ISBN-13: 9780357515785
  • RETAIL $152.95
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