Principles of Taxation for Business & Investment Planning

This text is appropriate for a one-semester introductory tax course at either the undergraduate or graduate level in which the instructor emphasizes business planning and decision-making. The content of the text is highly compatible with the AICPA Model Tax Curriculum and is ideal for preparing students to take the revised computer-based CPA exam. Jones takes a different approach to the study of taxation than the traditional tax return preparation approach. This book teaches students to recognize the role taxes play in business and investment decisions. In addition, the book presents the general role of taxation and its implications across all taxpaying entities before discussing the details relevant to specific entities. This approach allows students to really grasp the fundamental concepts that are the foundation for specific tax rules. The benefit is that the students will understand the framework of the tax system, even though specific tax rules and regulations change from year to year.Marginal quotes with tax tips, planning suggestions, etc.Thoroughly updated to reflect the latest changes in tax law.Extensive end-of-chapter material includes five types of problems, including problems of the type that students will encounter on the new CPA exam: Questions and Problems for Discussion challenge students to think critically about conceptual and technical issues covered in the chapter. Application Problems give students practice in applying the technical material covered in the chapter. Issue Recognition Problems develop studentsĹź ability to recognize tax issues, while introducing the tax research process. Research Problems provide further opportunity for students to develop their analytic skills, as well as increase their exposure to tax research by utilizing a tax library. Tax Planning Cases put students in the role of a tax advisor and gives them the opportunity to integrate their tax knowledge into a business-planning framework.The comprehensive cases in parts three through six require students to perform more in-depth analysis and decision skills, reinforcing the key concepts and decision-oriented focus of the text.This text relates the study of financial theory to the study of taxation so students develop the ability to translate tax outcomes into cash flows. This offers a forward-looking, planning perspective rather than a compliance perspective. Significant real world examples reinforce and illustrate key concepts. Because students learn to evaluate the tax laws on the basis of both equity and efficiency, the book considers both the economic and social policy implications of various tax systems. This text examines the structural framework of the federal income tax system to allow students to attain a sufficient level of tax knowledge appropriate for the introductory course, and to gain a frame of reference for understanding the technical details of taxation. The Online Learning Center (Website): www.mhhe.com/business/accounting/sjones2007 is a great resource for both instructor and students. Faculty will enjoy the convenience of downloadable supplements including the InstructorĹźs Manual, PowerPoint Slides, and Solutions to Research Projects. For students, its robust content includes auto-graded True and False and Multiple-Choice Quizzes, Text Updates of new tax regulations, Relevant Weblinks, Student Research Projects, as well as calculators and an online glossary.Show the application and relevance of the material.