Federal income tax : examples and explanations

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Where to find it

Law Library — 2nd Floor Collection (2nd floor)

Call Number
KF6369.3 .B35 2014
Status
Available

Authors, etc.

Names:

Summary

A favorite among successful students, and often recommended by professors, the unique Examples & Explanations series gives you extremely clear introductions to concepts followed by realistic examples that mirror those presented in the classroom throughout the semester. Use at the beginning and midway through the semester to deepen your understanding through clear explanations, corresponding hypothetical fact patterns, and analysis. Then use to study for finals by reviewing the hypotheticals as well as the structure and reasoning behind the accompanying analysis. Designed to complement your casebook, the trusted Examples & Explanations titles get right to the point in a conversational, often humorous style that helps you learn the material each step of the way and prepare for the exam at the end of the course.

The unique, time-tested Examples & Explanations series is invaluable to teach yourself the subject from the first day of class until your last review before the final. Each guide:

helps you learn new material by working through chapters that explain each topic in simple language challenges your understanding with hypotheticals similar to those presented in class provides valuable opportunity to study for the final by reviewing the hypotheticals as well as the structure and reasoning behind the corresponding analysis quickly gets to the point in conversational style laced with humor remains a favorite among law school students is often recommended by professors who encourage the use of study guides works with ALL the major casebooks, suits any class on a given topic provides an alternative perspective to help you understand your casebook and in-class lectures

Contents

  • An Introductory Note to Students p. xiii
  • Acknowledgments p. xv
  • Chapter 1 Introduction p. 1
  • A Introduction to Terminology and Structure p. 2
  • B Time Value of Money and the Value of Deferring Tax p. 11
  • C Alternative Tax Bases: Consumption Tax and Value Added Tax p. 18
  • D Tax Administration and Litigation p. 24
  • E Tax Legislation p. 30
  • F Tax Research p. 32
  • Chapter 2 Some Characteristics of Gross Income p. 37
  • A The Haig-Simons Definition of Income p. 37
  • B Noncash Compensation: Fringe Benefits p. 39
  • 1 Employer-Provided Meals and Lodging p. 39
  • 2 Employer-Provided Insurance and Health, Accident, and Death Benefits p. 46
  • 3 The Section 132 Exclusion for Miscellaneous Fringe Benefits p. 50
  • C Imputed Income p. 65
  • D Windfalls, Gifts, Scholarships, Prizes, and Transfer Payments p. 68
  • 1 Windfalls p. 68
  • 1 Gifts and Bequests p. 69
  • 3 Scholarships, Prizes, and Awards p. 76
  • 4 Transfer Payments p. 78
  • E Selected Recovery of Capital Issues: Partial Sales, Annuities, Insurance Policies, Life Estates, and Remainder Interests p. 79
  • 1 Partial Sales p. 80
  • 2 Annuities p. 82
  • 3 Life Insurance p. 89
  • 4 Gambling Winnings and Losses p. 92
  • 5 Life Estates and Remainder Interests p. 96
  • F Annual Accounting p. 98
  • G Personal Injury Recoveries p. 103
  • H Transactions Involving Loans and Income from Discharge of Indebtedness p. 112
  • I Tax-Exempt Bonds p. 123
  • J Gain from the Sale of a Personal Residence p. 124
  • Chapter 3 Problems of Timing p. 117
  • A Gains and Losses from Investment in Property p. 128
  • 1 Realization of Gains and Losses p. 128
  • 2 Recognition of Gains and Losses p. 129
  • a Like-Kind Exchanges p. 130
  • b Other Nonrecognition Rules p. 144
  • B Transfers Incident to Marriage and Divorce p. 146
  • C Installment Sale and Open Transaction Reporting p. 155
  • D Original Issue Discount p. 160
  • E The Cash Method of Accounting p. 167
  • F Section 83 Transfers p. 175
  • G The Accrual Method of Accounting p. 184
  • Chapter 4 Personal Deductions, Exemptions, and Credits p. 191
  • A Introduction p. 191
  • B Casualty Losses p. 199
  • C Extraordinary Medical Expenses p. 208
  • D Charitable Contributions p. 218
  • E Personal Interest p. 232
  • F Taxes p. 238
  • Chapter 5 Deductions for the Costs of Earning Income p. 243
  • A The Statutory Framework p. 244
  • B Current Expenses versus Capital Expenditures p. 246
  • C Repair and Maintenance Expenses p. 257
  • D Inventory Accounting p. 264
  • E Rent Payments versus Installment Purchase p. 274
  • F Goodwill and Other Intangible Assets p. 278
  • G "Ordinary and Necessary" Expenses p. 282
  • 1 The Scope of "Ordinary and Necessary" p. 282
  • 2 Reasonable Compensation p. 284
  • 3 Costs Associated with Illegal or Unethical Activities p. 286
  • H Depreciation and the Accelerated Cost Recovery System p. 288
  • I Depletion Deductions p. 306
  • J Tax Shelters p. 308
  • 1 The Characteristics of Tax Shelters p. 308
  • 2 The Judicial Response to Tax Shelters p. 310
  • 3 The Congressional Response to Tax Shelters p. 317
  • a The Investment Interest Limitation of [section] 163(d) p. 318
  • b The Passive Loss Rules of [section] 469 p. 321
  • c The At-Risk Rules of [section] 465 p. 332
  • d The Limitations of [section] 264 and [section] 265 p. 341
  • 4 Sale and Leaseback Transactions p. 344
  • 5 Corporate and Individual Tax Shelters of the 1990s p. 348
  • K Alternative Minimum Tax p. 352
  • Chapter 6 Mixed Personal and Business Expenditures p. 355
  • A Controlling the Abuse of Business Deductions p. 356
  • 1 Hobby Losses p. 356
  • 2 Rental of a Dwelling Used by the Taxpayer p. 362
  • 3 Home Offices, Computers, and Automobiles p. 369
  • B Travel and Entertainment Expenses p. 376
  • C Child Care Expenses p. 385
  • D Commuting Expenses p. 389
  • E Clothing Expenses p. 392
  • F Legal Expenses p. 395
  • G Educational Expenses p. 397
  • Chapter 7 Income Shifting p. 411
  • A Income from Services and Property p. 411
  • B Same-Sex Couples, Joint Return Filing, and the Relationship between State Law and Federal Tax Law p. 422
  • C Trusts p. 426
  • D Grantor Trusts p. 430
  • E Family Partnerships p. 435
  • F Below-Market Loans p. 438
  • Chapter 8 Capital Gains and Losses p. 443
  • A The Tax Treatment of Capital Gains and Losses p. 443
  • B Policy Rationale for the Treatment of Capital Gain and Loss p. 452
  • C The Definition of "Capital Asset" p. 454
  • D Section 1231 and Depreciation Recapture p. 466
  • E Substitutes for Ordinary Income p. 472
  • F The Tax on Net Investment Income p. 478
  • G The Sale of a Business p. 482
  • H Connected Current and Prior Transactions p. 486
  • Appendix: Sample Examinations p. 487
  • Table of Cases p. 571
  • Table of Internal Revenue Code Sections p. 575
  • Table of Treasury Regulations p. 587
  • Table of Other Administrative Pronouncements p. 591
  • Topical Index p. 593

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