Description

Features

• Basic tax models for corporations and individuals followed by pass-through entities —Sets the stage for the more detailed discussions of tax topics in subsequent chapters.

  • Provides the background for a discussion of decision-making concepts and the choice of business entity, so that students understand the role of taxes in the decision-making process and gain an understanding of the importance of entity choice.

• Early introduction to tax planning—Opens Chapter 2.

  • Discusses the importance of the marginal tax rate and cash flow concepts to tax planning—and carries these topics through the text as the logical manner in which to make decisions. Highlights the importance of tax research in the tax planning process.

• A balanced presentation of complex topics.

  • Presents the “why” followed by an appropriate balance between concepts and details to provide some technical background for future tax professionals while not overloading non-tax students with unnecessary detail.

• Numerous examples and an integration of financial accounting concepts throughout—Presented whenever appropriate from a present-value, cash-flow approach.

  • Enhances students understanding of the relationship between tax and financial accounting.

• Chapter Highlights.
  • —Introduction opens each chapter highlighting specific topics and emphasizes why decision makers need to understand them.
  • —Key Concepts clearly identify the most important points students should master and allows easy reference to each one.
  • —Opening case emphasizes the tax planning orientation and encourages students to formulate a solution as they proceed through the chapter. A proposed solution is presented at the end of the chapter.
  • —Summary provides an executive summary of the major points discussed in the chapter that the student should have mastered.
  • —Test Yourself includes five multiple choice questions that the student can use to test understanding of chapter material. Answers appear at the end of the chapter.

• End-of-Chapter Materials.
  • —Check Your Understanding includes a wide variety of non-computational questions that review chapter topics.
  • —Crunch the Numbers features quantitative problems covering chapter topics.
  • —Think Outside the Text allows students to expand their thinking beyond the material within the chapter but does not require outside research. Students may be asked to integrate financial accounting knowledge with tax concepts, debate an issue, develop alternatives, or suggest policy reasons for certain tax provisions.
  • —Identify the Issues provides short scenarios that allow the student to practice the issue identification step in the tax research process—a step that many new tax students consider the most difficult. The students state the issues as research questions but are not required to develop solutions.
  • —Develop Research Skills requires students to search for and evaluate the authorities and then communicate their recommendations.
  • —Search the Internet prompts students to find materials related to the chapter topics on the Internet. Most require the students to provide written summaries of the information.
  • —Develop Planning Skills requires students to choose between alternatives and make recommendations that maximize after-tax cash flow. They emphasize the importance of developing planning strategies and allow the students to test their knowledge in basic planning situations.

• Chapter Appendices—Short appendices are provided for corporate reorganizations, tax exempt organizations, and state tax issues to provide a basic introduction to these topics. As appendices, instructors can choose to omit them and defer coverage to a second tax course.

• Tax Research Appendix—Illustrates the research steps with screen captures of the major tax services.

• Sample filled-in tax forms and tax return problems are on the Companion Website.

  • Allowing them to be more up-to-date than those included in a printed text.

Table of Contents

I. INTRODUCTION TO TAXATION AND ITS ENVIRONMENT.

II. INCOME AND EXPENSE DETERMINATION.

III. PROPERTY CONCEPTS AND TRANSACTIONS.

IV. BUSINESS TAXATION.

V. TAXATION OF INDIVIDUALS.

Courses

Principles of Taxation  (Accounting & Taxation)

Author Bios

Shirley Dennis-Escoffier is an associate professor at the University of Miami, where she teaches both graduate and undergraduate tax classes. She received her Ph.D. from the University of Miami and returned to UM after teaching at the University of Hawaii and California State University in Hayward. She is a Certified Public Accountant licensed to practice in Florida. She served as President of the American Taxation Association for 2000-2001 and remains actively involved in the association. She is also actively involved with the American Institute of Certified Public Accountants recently serving on the Pre-certification Education Executive committee. She has received several teaching awards including the University of Miami Excellence in Teaching Award and the School of Business Alumni Association Excellence in Teaching Award. She has published numerous articles in tax and accounting journals and is the recipient of an Ernst and Young Foundation tax research grant. In her free time, she and her husband, Marcel Escoffier, enjoy seeking out fine wine and gourmet food, especially in France.

Karen A. Fortin retired in 2000 from her position as Professor of Accounting and Taxation at the University of Baltimore, where she had been Department Chair and taught graduate and undergraduate tax classes in both the Business School and the Law School. She received her Ph.D. from the University of South Carolina and held teaching positions at the University of Wisconsin-Milwaukee and the University of Miami. She is a Wisconsin Certified Public Accountant and a recipient of a Sells Award. During her teaching years, she was active in the American Taxation Association and the American Accounting Association as an editor, reviewer, and chairperson for numerous events. As a member of the AICPA she served on several committees and task forces. She has published numerous articles in tax and accounting journals and has co-authored and edited a number of textbooks. In between her extensive travels, she volunteers her time in a local grade school primarily tutoring students in mathematics in her role as "class Granny."

Backcover Copy

Focus on the fundamentals. Develop student awareness of client planning issues.

• Only 12 Chapters! Dennis-Escoffier and Fortin's Taxation for Decision Makers is a brief text that offers faculty great coverage and the flexibility to select topics or reorganize the material as desired! The authors clearly focus on fundamentals, but also provide brief introductions to more advanced material that enables faculty to customize the book to fit course needs. This text is ideal for schools with only one undergraduate tax course.
• Unique Dual Planning Orientation enables Taxation for Decision Makers to be used either in a Model Tax Curriculum program that emphasizes entities or in a more traditional course on individual taxation. The presentation of employee compensation (Chapter 4) enables readers to view transactions from both the individual's perspective (minimizing taxable income) and the employer's perspective (maximizing deductions while providing a compensation plan that will attract valuable employees).
• Unique Case in Each Chapter! Each chapter-opening case introduces key issues covered. The case is then revisited at the end of the chapter.
• Numerous Real-World Examples in each chapter add relevance for all readers.
• Tax Planning Is Emphasized as an Important Theme—one that encourages readers to consistently consider client planning opportunities.
• Tax Research is introduced in Chapter 2 and may be read at any time as research problems are assigned. A tax research appendix walks students through the tax research process with screen captures from widely used tax services.
• Extensive Tools for Learning include: "Test Yourself" quizzes, Internet exercises, issue identification problems, assignments to develop research and planning skills, and "Think Outside the Text" questions that challenge students to reason beyond the material in the chapter. Tax return problems and sample filled-in tax forms are available on the Web site to keep them up to date.
• Instructor Resources include: Solutions Manual, Instructor's Guide, Test Bank, PowerPoint presentation slides, and more.

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TestGen® EQ Computerized Test Bank for Taxation for Decision Makers: 2004
Dennis-Escoffier
©2004  |  Prentice Hall  |  On-line Supplement; 0 pp  |  Live
ISBN-10: 0131449893  |  ISBN-13: 9780131449893
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