Test Bank for Taxation for Decision Makers, 2015 Edition, Shirley Dennis-Escoffier Karen Fortin

Test Bank for Taxation for Decision Makers, 2015 Edition, Shirley Dennis-Escoffier, Karen Fortin,

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Table of Contents

PART I: Introduction to Taxation and its Environment

Chapter 1: An Introduction to Taxation

Key Concepts
Setting the StageAn Introductory Case
An Introduction to Taxation
Types of Taxes
Types of Tax Rate Systems
Characteristics of a Good Tax
Income Taxation
The Taxing Units and the Basic Income Tax Models
Choice of Business Entity
Revisiting the Introductory Case
Summary
Key Terms
Test Yourself
Problem Assignments
Answers to Test Yourself
Chapter 2: The Tax Practice Environment

Key Concepts
Setting the StageAn Introductory Case
An Introduction to Tax Practice
Taxes and Cash Flow
Tax Planning Strategies
Sources of Authority
Tax Research
Tax Compliance
Revisiting the Introductory Case
Summary
Key Terms
Test Yourself
Problem Assignments
Answers to Test Yourself
Appendix 2A: Tax Research
PART II: Income and Expense Determination

Chapter 3: Determining Gross Income

Key Concepts
Setting the StageAn Introductory Case
What Is Income?
When Is Income Recognized?
Who Recognizes the Income?
Sources of Income
Exclusions
Jurisdictional Issues
Expanded TopicsSpecial Methods
Revisiting the Introductory Case
Summary
Key Terms
Test Yourself
Problem Assignments
Answers to Test Yourself
Chapter 4: Employee Compensation

Key Concepts
Setting the StageAn Introductory Case
Employee Compensation
Employee Fringe Benefits
Employee Stock and Stock Options
Deferred Compensation and Retirement Planning
Self-Employed Individuals
Expanded TopicsForeign Assignments
Revisiting the Introductory Case
Summary
Key Terms
Test Yourself
Problem Assignments
Answers to Test Yourself
Chapter 5: Business Expenses

Key Concepts
Setting the StageAn Introductory Case
Criteria for Deductibility
Timing of Deductions
Costs of Starting a Business
Operating Expenses
Limited Expense Deductions
Expanded TopicsBook/Tax Differences
Revisiting the Introductory Case
Summary
Key Terms
Test Yourself
Problem Assignments
Answers to Test Yourself
PART III: Property Concepts and Transactions

Chapter 6: Property Acquisitions and Cost Recovery Deductions

Key Concepts
Setting the StageAn Introductory Case
Capital Expenditures
Basis of Property
Cash Flow and After-Tax Cost
MACRS
Provisions Limiting Depreciation
Bonus Depreciation
Depletion
Amortization
Revisiting the Introductory Case
Summary
Key Terms
Test Yourself
Problem Assignments
Answers to Test Yourself
Chapter 7: Property Dispositions

Key Concepts
Setting the StageAn Introductory Case
Determining Gain or Loss on Dispositions
Disposition of Section 1231 Property
Disposition of Capital Assets
Disposition of Ordinary Income Property
Mixed-Use Property
Special Rules for Small Business Stock
Sale of Principal ResidenceSection 121
Related Party Sales
Individual Capital Gains Tax Rates
Revisiting the Introductory Case
Summary
Key Terms
Test Yourself
Problem Assignments
Answers to Test Yourself
Chapter 8: Tax-Deferred Exchanges

Key Concepts
Setting the StageAn Introductory Case
Basics of Tax-Deferred Exchanges
Like-Kind ExchangesSection 1031
Other Tax-Deferred Exchanges
Involuntary Conversions
Asset Transfers to Businesses
Corporate Reorganizations
Revisiting the Introductory Case
Summary
Key Terms
Test Yourself
Problem Assignments
Answers to Test Yourself
Appendix 8A: Reorganizations
PART IV: Business Taxation

Chapter 9: Taxation of Corporations

Key Concepts
Setting the StageAn Introductory Case
Introduction to Corporations
Taxation of C Corporations
Consolidated Returns
Corporate Distributions
Issues for Closely Held Corporations
Expanded TopicsEarnings and Profits
Revisiting the Introductory Case
Summary
Key Terms
Test Yourself
Problem Assignments
Answers to Test Yourself
Appendix 9A: Exempt Organizations
Appendix 9B: Multistate Issues
Chapter 10: Sole Proprietorships and Flow-Through Entities

Key Concepts
Setting the StageAn Introductory Case
Introduction to Flow-Through Business Entities
The Sole Proprietorship
Partnerships
S Corporation Characteristics
The U.S. Production Activities Deduction
Comparison of Total Tax Burden by Entity
Expanded TopicsThe Passive Deduction Limitations
Revisiting the Introductory Case
Summary
Key Terms
Test Yourself
Problem Assignments
Answers to Test Yourself
PART V: Taxation of Individuals

Chapter 11: Income Taxation of Individuals

Key Concepts
Setting the StageAn Introductory Case
The Individual Tax Model
Personal and Dependency Exemptions
Filing Status
Standard Deduction
Itemized Deductions
Net Operating Loss
Computing the Tax
Tax Credits
Payment of Income Tax
Expanded TopicsAdditional Taxes
Revisiting the Introductory Case
Summary
Key Terms
Test Yourself
Problem Assignments
Answers to Test Yourself
Chapter 12: Wealth Transfer Taxes

Key Concepts
Setting the StageAn Introductory Case
Overview of Wealth Transfer Taxation
The Federal Gift Tax
Tax Consequences for Donees
The Taxable Estate
Transfer Tax Planning
Fiduciary Income Tax Issues
Expanded TopicsThe Tax Calculations
Revisiting the Introductory Case
Summary
Key Terms
Test Yourself
Problem Assignments
Answers to Test Yourself
Appendix A: Present Value and Future Value Tables
Appendix B: Sample Filled-in Tax Returns
Appendix C: Tax Return Problems
Index