Individuals 1. An Introduction To Taxation 2. Determination of Tax 3. Gross Income: Inclusions 4. Gross Income: Exclusions 5. Property Transactions: Capital Gains and Losses 6. Deductions and Losses 7. Itemized Deductions 8. Losses and Bad Debts 9. Employee Expenses and Deferred Compensation 10. Depreciation, Cost Recovery, Amortization, and Depletion 11. Accounting Periods and Methods 12. Property Transactions: Nontaxable Exchanges 13. Property Transactions: Section 1231 and Recapture 14. Special Tax Computation Methods, Tax Credits, and Payment of Tax   Corporations 1. Tax Research 2. Corporate Formations And Capital Structure 3. The Corporate Income Tax 4. Corporate Nonliquidating Distributions 5. Other Corporate Tax Levies 6. Corporate Liquidating Distributions 7. Corporate Acquisitions and Reorganizations 8. Consolidated Tax Returns 9. Partnership Formation and Operation 10. Special Partnership Issues 11. S Corporations 12. The Gift Tax 13. The Estate Tax 14. Income Taxation of Trusts and Estates 15. Administrative Procedures   Tables 2016 Tax Tables and Rate Schedules and 2017 Withholding Tables (Partial)   Appendices Appendix A: Tax Research Working Paper File Appendix B: Tax Forms Appendix C: MACRS Tables Appendix D: Glossary  Appendix E: AICPA Statements on Standards for Tax Services Nos. 1—7 Appendix F: Comparison of Tax Attributes for C Corporations, Partnerships, and S Corporations Appendix G: Reserved  Appendix H: Actuarial Tables  Appendix I: Index of Code Sections  Appendix J: Index of Treasury Regulations   Appendix K: Index of Government Promulgations   Appendix L: Index of Court Cases   Appendix M: Subject Index     

About the book   Help students master the material with strong pedagogical aids Learning aids present technical content in a readable way so students can internalize and master the material. These are designed so that students can apply tax principles to real-life situations. What Would You Do In This Situation? boxes place students in the role of decision maker. These include many controversies that are as yet unresolved or are currently being resolved by courts. By making extensive use of Ethical Material, they represent choices that may put practitioners at odds with clients. Stop & Think boxes encourage students to pause and apply what they have just learned. Ethical Point side-notes discuss the ethical implications of content in the adjacent text. Tax Strategy Tips suggest tax planning ideas related to material in the adjacent text. Additional Comments provide supplemental information pertaining to the adjacent text. Real-World Example comments relate the text material to events, cases, and statistics occurring in the tax and business environment. The statistical data presented in some of these comments are taken from the IRS’s Statistics of Income at www.irs.gov. Book-to-Tax Accounting Comparison comments compare the tax discussion in the text to the accounting and/or financial statement treatment of this material. Also, the last section of Chapter C:3 discusses the financial statement implications of federal income taxes. TaxACT 2016 Software is available via online purchase with Individuals, Corporations, and Comprehensive texts. This user-friendly tax preparation program includes more than 80 tax forms, schedules, and worksheets. TaxACT calculates returns and alerts the user to possible errors or entries. It consists of forms 990, 1040, 1041, 1065, 1120, and 1120S. TaxACT and other materials can be accessed via www.pearsonhighered.com/phtax.   Keep your course current Individuals NEW! Complete updating of significant court cases and IRS rulings and procedures during 2016 and early 2017. UPDATED! The Protecting Americans from Tax Hikes Act of 2015 and the 2016 Consolidated Appropriations Act. UPDATED! Discussion of the expiration of certain tax deductions and credits in 2017. UPDATED! All tax rate schedules have been updated to reflect the rates and inflation adjustments for 2017. UPDATED! The latest content. Whenever new updates become available, they will be accessible via MyLab Accounting.   Corporations NEW! The comprehensive corporate tax return, Problem C:3-66, has all new numbers for the 2016 forms. NEW! The comprehensive partnership tax return, Problem C:9-58, has all new numbers for the 2016 forms. NEW! The comprehensive S corporation tax return, Problem C:11-64, has all new numbers for the 2016 forms. UPDATED! Changes affecting 2017 tax law have been incorporated into the text where appropriate. UPDATED! All tax rate schedules have been updated to reflect the rates and inflation adjustments for 2017. UPDATED! The latest content. Whenever new updates become available, they will be accessible via MyLab Accounting.   Also available with MyLab Accounting MyLab™ Accounting is an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand difficult concepts. NEW! Personal Inventory Assessment (PIA). Students learn better when they can connect what they are learning to their personal experience. PIA (Personal Inventory Assessments) is a collection of online exercises designed to promote self-reflection and engagement in students, enhancing their ability to connect with management concepts. Assessments are assignable by instructors who can then track students’ completions. Student results include a written explanation and graphic display that shows how their results compare to the class as a whole, and can be used to promote classroom discussion. The Real World Accounting Video Series feature real, emerging companies that demonstrate financial and managerial accounting concepts. Students can see how the course topics are applied in recent startups or companies that began small and are now a household name. These engaging videos help students further understand the course material and also demonstrate how accounting will apply to their future careers. UPDATED! HTML5 Player. In addition to matching the Flash player’s support of Accessibility requirements, the HTML5 player has a new “Show Work” feature to allow students to enter text either from a keyboard or stylus and to draw freehand on different backgrounds, such as a coordinate graph, with multiple fonts and colors. Students can also continue to upload images such as phone-photos of handwritten work. Printing enhancements include: a more pen-and-paper-friendly layout of exercises the ability for instructors to choose whether to print the header; to include an honor statement; and to print with answers in line, after each question, or on a separate sheet The Enhanced eText keeps students engaged in learning on their own time, while helping them achieve greater conceptual understanding of course material. The worked examples, animations, and interactive tutorials bring learning to life, and algorithmic practice allows students to apply the very concepts they are reading about. Combining resources that illuminate content with accessible self-assessment, MyLab Accounting with Enhanced eText provides students with a complete digital learning experience—all in one place. Personalized Learning. Not every student learns the same way or at the same rate. With the growing need for acceleration through many courses, it's more important than ever to meet students where they learn. Personalized learning in MyLab Accounting gives you the flexibility to incorporate the approach that best suits of your course and your students. The Study Plan acts as a tutor, providing personalized recommendations for each of your students based on his or her ability to master the learning objectives in your course. This allows students to focus their study time by pinpointing the precise areas they need to review, and allowing them to use customized practice and learning aids—such as videos, eText, tutorials, and more—to get them back on track. Using the report available in the Gradebook, you can then tailor course lectures to prioritize the content where students need the most support—offering you better insight into classroom and individual performance. Dynamic Study Modules help students study effectively on their own by continuously assessing their activity and performance in real time. Here's how it works: students complete a set of questions with a unique answer format that also asks them to indicate their confidence level. Questions repeat until the student can answer them all correctly and confidently. Once completed, Dynamic Study Modules explain the concept using materials from the text. These are available as graded assignments prior to class, and accessible on smartphones, tablets, and computers. NEW! Instructors can now remove questions from Dynamic Study Modules to better fit their course. Available for select titles. Learning Management System (LMS) Integration. You can now link from Blackboard Learn, Brightspace by D2L, Canvas, or Moodle to MyLab Accounting. Access assignments, rosters, and resources, and synchronize grades with your LMS Gradebook. For students, single sign-on provides access to all the personalized learning resources that make studying more efficient and effective. Reporting Dashboard. View, analyze, and report learning outcomes clearly and easily, and get the information you need to keep your students on track throughout the course, with the new Reporting Dashboard. Available via the MyLab Accounting Gradebook and fully mobile-ready, the Reporting Dashboard presents student performance data at the class, section, and program levels in an accessible, visual manner. Learning Catalytics™ helps you generate class discussion, customize your lecture, and promote peer-to-peer learning with real-time analytics. As a student response tool, Learning Catalytics uses students’ smartphones, tablets, or laptops to engage them in more interactive tasks and thinking. NEW! Upload a full PowerPoint® deck for easy creation of slide questions. NEW! Team names are no longer case sensitive. Help your students develop critical thinking skills. Monitor responses to find out where your students are struggling. Rely on real-time data to adjust your teaching strategy. Automatically group students for discussion, teamwork, and peer-to-peer learning. Learning Aids. MyLab Accounting homework and practice questions are correlated to the textbook, regenerate algorithmically to give students unlimited opportunity for practice and mastery, and offer helpful feedback when students enter incorrect answers. Learning aids, such as Help Me Solve This, DemoDoc Examples, and concept videos provide extra help for students at the point-of-use. Worked Out Solutions. Sometimes students need more than just the correct answer to understand their mistakes; they need to understand how to get to that correct answer. Worked Out Solutions are now available to students when they are reviewing their submitted and graded homework. They provide step-by-step explanations on how to solve the problem using the exact numbers and data that was presented to the student in the problem. Instructors will also have access to the Worked Out Solutions in preview and review mode. UPDATED! Discussion Boards have a new design including a new nested layout and the ability to filter by Read/Unread, Date, and Name. Try It Exercises give students practice of accounting problems while accompanying videos guide students step-by-step through the solution to the problem. Offered only in MyLab Accounting. A powerful Homework and Test Manager lets you create, import, and manage online homework assignments, quizzes, and tests that are automatically graded. You can choose from a wide range of assignment options, including time limits, proctoring, and maximum number of attempts allowed. The bottom line: MyLab Accounting means less time grading and more time teaching. The online Gradebook automatically tracks your students' results on tests, homework, and practice exercises and gives you control over managing results and calculating grades. The Gradebook provides a number of flexible grading options, including exporting grades to a spreadsheet program such as Microsoft Excel. And, it lets you measure and document your students' learning outcomes.  

About the book   Keep your course current Individuals Complete updating of significant court cases and IRS rulings and procedures during 2016 and early 2017. The Protecting Americans from Tax Hikes Act of 2015 and the 2016 Consolidated Appropriations Act. Discussion of the expiration of certain tax deductions and credits in 2017. All tax rate schedules have been updated to reflect the rates and inflation adjustments for 2017. The latest content. Whenever new updates become available, they will be accessible via MyLab Accounting.   Corporations The comprehensive corporate tax return, Problem C:3-66, has all new numbers for the 2016 forms. The comprehensive partnership tax return, Problem C:9-58, has all new numbers for the 2016 forms. The comprehensive S corporation tax return, Problem C:11-64, has all new numbers for the 2016 forms. Changes affecting 2017 tax law have been incorporated into the text where appropriate. All tax rate schedules have been updated to reflect the rates and inflation adjustments for 2017. The latest content. Whenever new updates become available, they will be accessible via MyLab Accounting.   Also available with MyLab Accounting MyLab™ Accounting is an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand difficult concepts. Personal Inventory Assessment (PIA). Students learn better when they can connect what they are learning to their personal experience. PIA (Personal Inventory Assessments) is a collection of online exercises designed to promote self-reflection and engagement in students, enhancing their ability to connect with management concepts. Assessments are assignable by instructors who can then track students’ completions. Student results include a written explanation and graphic display that shows how their results compare to the class as a whole, and can be used to promote classroom discussion. HTML5 Player. In addition to matching the Flash player’s support of Accessibility requirements, the HTML5 player has a new “Show Work” feature to allow students to enter text either from a keyboard or stylus and to draw freehand on different backgrounds, such as a coordinate graph, with multiple fonts and colors. Students can also continue to upload images such as phone-photos of handwritten work. Printing enhancements include: a more pen-and-paper-friendly layout of exercises the ability for instructors to choose whether to print the header; to include an honor statement; and to print with answers in line, after each question, or on a separate sheet Discussion Boards have a new design including a new nested layout and the ability to filter by Read/Unread, Date, and Name.