Principles of Taxation for Business and Investment Planning 2005 Edition

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.

Table of Contents:
Part 1 Exploring the Tax Environment 1 Types of Taxes and the Jurisdictions That Use Them 2 Tax Policy Issues: Standards for a Good Tax Part 2 Fundamentals of Tax Planning 3 Taxes as Transaction Costs 4 The Basic Maxims of Income Tax Planning Part 3 The Measurement of Taxable Income 5 Taxable Income From Business Operations 6 Property Acquisitions and Cost Recovery Deductions 7 Property Dispositions 8 Nontaxable Exchanges Part 4 The Taxation of Business Income 9 Sole Proprietorships, Partnerships, LLCs, and S Corporations 10 The Corporate Taxpayer 11 The Choice of Business Entity 12 Jurisdictional Issues in Business Taxation Part 5 The Individual Taxpayer 13 The Individual Tax Formula 14 Compensation and Retirement Planning 15 Investment and Personal Financial Planning 16 Tax Consequences of Personal Activities Part 6 The Tax Compliance Process 17 The Tax Compliance Process Appendix A. Present Value of $1 Appendix B. Present Value of Annuity of $1 Appendix C. Introduction to Tax Research

About the Author :
Sally M. Jones is professor emeritus of accounting at the McIntire School of Commerce, University of Virginia, where she taught undergraduate and graduate tax courses. Before joining the Virginia faculty in 1992, Professor Jones spent 14 years on the faculty of the Graduate School of Business, University of Texas at Austin. She received her undergraduate degree from Augusta College, her MPA from the University of Texas, and her PhD from the University of Houston. She is also a CPA. Professor Jones was the first editor of Advances in Taxation (JAI Press) and the Price Waterhouse Case Studies in Taxation. She has published numerous articles in the Journal of Taxation, The Tax Adviser, and the Journal of the American Taxation Association. Professor Jones is a frequent speaker at tax conferences and symposia, a past president of the American Taxation Association, and the 2000 recipient of the Ray M. Sommerfeld Outstanding Tax Educator Award.