McGraw-Hill Education Principles of Taxation: Advanced Strategies, 2002 Edition

In response to market demand, this book was developed to provide coverage of advanced tax topics. It is ideal for students who studied principles of taxation for business and investment planning in their introductory course. The tax consequences of many sophisticated business, financial, and personal wealth-planning transactions are explored. Each transaction is presented in an economic or legal context, and the non-tax motives of the transacting parties are examined before the tax issues are identified. The discussion of tax issues emphasises the development and implementation of strategies to make transactions as tax efficient as possible to all parties involved. Many of the tax strategies are analysed in terms of their impact on net cash flows and on the income statements and balance sheets of the transacting parties. Synopsis In response to market demand, this book was developed to provide coverage of advanced tax topics. It is ideal for students who studied principles of taxation for business and investment planning in their introductory course. The tax consequences of many sophisticated business, financial, and personal wealth-planning transactions are explored. Each transaction is presented in an economic or legal context, and the non-tax motives of the transacting parties are examined before the tax issues are identified. The discussion of tax issues emphasises the development and implementation of strategies to make transactions as tax efficient as possible to all parties involved. Many of the tax strategies are analysed in terms of their impact on net cash flows and on the income statements and balance sheets of the transacting parties. From the Publisher This text is appropriate for the second half of the two-semester tax course at the senior and graduate levels. This new entry is an excellent follow-up text to our Jones, Principles of Taxation text (2002 ed., published 4/20). Important to note is this text is different than most tax competitors because it employs a conceptual approach while most texts plow thru tax codes without giving students the framework that Jones does. Downplays extraneous tax code details and focuses on concepts. Explores tax consequences of many types of sophisticated business, financial and personal wealth planning transactions. Each transaction is presented in a business context and the nontax motivations and goals are examined before the tax issues are identified. Addresses all technical topics specified in the AICPA's Model Curriculum for the advanced tax course. Topics are organized functionally, according to the type of business transaction to which they relate. This provides a superior conceptual framework that will help students understand the rationale behind complicated technical rules. The conceptual framework helps students recognize common themes that unite many apparently unrelated topics so increases their understanding of the basic structure of tax law. Provides distinctive end-of-chapter material including Questions and Problems for Discussion, Application Problems, Issue Recognition Problems, Research Problems and Tax Planning Cases.