Principles of Taxation for Business and

Principles of Taxation for Business and Investment Planning focuses on the role taxes play in business and investment decision, presenting the general roles of taxation and discussing its implications for all tax-paying entities before delving into a specific exception. The benefit of this approach is a strong grasp of the fundamental principles informing taxation rules. This helps students comprehend the framework of the tax system, making future changes to the tax code easier to understand-no matter how many there are. Unlike traditional introductory texts, Principles of Taxation for Business and Investment Planning downplays the technical detail that makes the study of taxation such a nightmare for business students. This text attempts to convince students that an understanding of taxation is not only relevant but critical to their success in the business world. Don't just teach your students the tax code; teach them how the tax code affects business decision making with the 2016 edition!

PART ONE: Exploring the Tax Environment

1 Taxes and Taxing Jurisdictions

2 Policy Standards for a Good Tax

PART TWO: Fundamentals of Tax Planning

3 Taxes as Transaction Costs

4 Maxims of Income Tax Planning

5 Tax Research

PART THREE: The Measurement of Taxable Income

6 Taxable Income from Business Operations

7 Property Acquisitions and Cost Recovery Deductions

Appendix 7-A Midquarter Convention Tables

8 Property Dispositions

9 Nontaxable Exchanges

PART FOUR: The Taxation of Business Income

10 Sole Proprietorships, Partnerships, LLCs, and S Corporations

11 The Corporate Taxpayer

Appendix 11-A Schedule M-3 for Reconciling Book and Taxable Income

12 The Choice of Business Entity

13 Jurisdictional Issues in Business Taxation

PART FIVE: The Individual Taxpayer

14 The Individual Tax Formula

Appendix 14-A Itemized Deduction Worksheet

Appendix 14-B Exemption Amount Worksheet

15 Compensation and Retirement Planning

16 Investment and Personal Financial Planning

Appendix 16-A Comprehensive Schedule D Problem

17 Tax Consequences of Personal Activities

Appendix 17-A Social Security Worksheet (Adapted from IRS Publication 915)

PART SIX The Tax Compliance Process

18 The Tax Compliance Process

APPENDICES

A Present Value of $1

B Present Value of Annuity of $1

C 2015 Income Tax Rates

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Principles of Taxation for Business and Investment Planning 2016 Edition

Summary

Table of Contents

Supplemental Materials