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West Federal Taxation 2003 : An Introduction to Business Entities

West Federal Taxation 2003 : An Introduction to Business Entities - 6th edition

ISBN13: 978-0324154580

Cover of West Federal Taxation 2003 : An Introduction to Business Entities  6TH 03 (ISBN 978-0324154580)
ISBN13: 978-0324154580
ISBN10: 0324154585
Cover type:
Edition/Copyright: 6TH 03
Publisher: South-Western Publishing Co.
Published: 2003
International: No

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West Federal Taxation 2003 : An Introduction to Business Entities - 6TH 03 edition

ISBN13: 978-0324154580

James E. Smith, William A. Raabe and David M. Maloney

ISBN13: 978-0324154580
ISBN10: 0324154585
Cover type:
Edition/Copyright: 6TH 03
Publisher: South-Western Publishing Co.

Published: 2003
International: No

This text is designed with the AICPA model tax curriculum in mind, and presents the introductory federal taxation course from a business entity perspective. The 2002 Edition of An Introduction to Business Entities provides thorough and adequate coverage of all relevant codes and regulations, emphasizing the high-interest and multidisciplinary aspects of taxation. This text is an ideal fit for the program that offers only one course in taxation where readers need to be exposed to corporate taxation as well as individual taxation. This text assumes no prior course in taxation has been taken.


  • NEW! Tax Law Coverage: Includes all relevant tax law updates resulting from the passage of EGTRRA.
  • Tax Research Problems: Pertinent and true-to-life research questions can all be completed using the RIA OnPoint System 5, Student Version CD-ROM, an abbreviated version of the number one computerized tax database library, recently voted the #1 tax library by tax practitioners.
  • Extensive Online Student Tutorials: Visit http://wft-entities.swcollege.com and explore WFT's online student resources, including quizzes, activities, a links library, tax law updates and much more!
  • International Implications: Given today's ever-increasing global concerns, it is critical for students to understand just how these issues influence tax. WFT's "International Implications" feature gives students keen insight into how tax is affected by global issues.
  • Internet Problems: Integrated throughout, these real-world problems tie directly to research cases in the chapters. These problems encourage students to use the Internet to answer questions and do tax research. Students are able to do tax research using materials they will likely use as a tax practitioner.
  • Issue Identification Questions: Identified by light bulb icons throughout the text, these discussion questions enhance critical thinking skills by identifying the tax issues at hand. WFT offers more "Issue Identification" questions than any other tax text.
  • Communications Assignments and Decision-Making Problems: These exercises, in compliance with the AICPA task force, develop essential analytical and writing skills.
  • Student Study Guide: Written specifically for the student who needs help understanding difficult concepts in introductory taxation courses which emphasize the business entities approach, the study guide assists with chapter reviews of key concepts, additional explanations, and self-evaluation tests. The study guide can be purchased online at http://tax.swcollege.com.
  • Sample Syllabus: This important supplement aids instructors in the transition from the traditional teaching approach to the new business entities approach in federal taxation. To obtain a sample syllabus, visit http://wft-entities.swcollege.com.
  • NEW! Exclusive! RIA's Checkpoint Student Version included! Each new copy of An Introduction to Business Entities includes six months of access to RIA's Checkpoint Student Version, an abbreviated version of the on line tax research database used by tax professionals everywhere. Integrating tax research into the course, while teaching students a highly marketable skill, has never been easier!
  • Bridge-Discipline Boxes: This feature presents material and concepts from other courses such as economics, financial accounting, and finance to create a link with the tax concepts the students are learning. This material helps to bridge the gap in going from one business course to another.
  • Bridge-Discipline Questions: These end-of-chapter questions give students the opportunity to tie concepts from their other courses to the concepts they learn in each chapter.
  • Extender Questions: Identified by an icon, these questions appear in the end-of-chapter material to test students on critical thinking and their ability to come to conclusions derived from the concepts presented in the chapter material.
  • Tax Quotes from Relevant Real-world Sources: These tax quotes outline the importance of the tax concepts presented in each chapter. The quotes tie together the chapter concepts with things happening in the real world, helping to make tax come to life.
  • New Problems: In every edition, WFT ensures that 20 to 30% of the end-of-chapter problems are new.
  • Digging Deeper Features: Designed to help students go further in their knowledge of certain topics, this deeper information can be found on the Business Entities Web site and is identified within chapters by an icon.
  • Fun Tax Facts: Each chapter contains at least one "Tax Facts" section. These 'fun-facts' draw emphasis to the everyday, interesting applications of tax law.

Author Bio

Smith, James E. : College of William and Mary

Raabe, William A. : Capital University

Maloney, David M. : University of Virginia

Table of Contents

1. Introduction to Taxation.
2. Working with the Tax Law.
3. Gross Income.
4. Business Deductions.
5. Losses and Loss Limitations.
6. Accounting Periods and Methods.
7. Property Transactions: Basis, Gain and Loss, and Nontaxable Exchanges.
8. Property Transactions: Capital Gains and Losses, Section 1231, and Recapture Provisions.
9. Corporations: Organization, Capital Structure, and Operating Rules.
10. Corporations: Earnings & Profits and Dividend Distributions.
11. Partnerships and Limited Liability Entities.
12. S Corporations.
13. Business Tax Credits and Corporate Alternative Minimum Tax.
14. Comparative Forms of Doing Business.
15. Introduction to the Taxation of Individuals.
16. Individuals as Employees and Proprietors. Appendixes. Subject Index.

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