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- Full title: Income Tax Fundamentals 2020 (with Intuit ProConnect Tax Online), 38th Edition
- Edition: 38th
- Copyright year: 2020
- Publisher: Cengage Learning
- Author: Gerald E. Whittenburg; Martha Altus-Buller; Steven Gill
- ISBN: 9780357108239, 9780357107003
- Format: PDF
Description of Income Tax Fundamentals 2020 (with Intuit ProConnect Tax Online), 38th Edition:
Learn the complexities of the U.S. income tax code and master the most important areas of tax law with Whittenburg/Altus-Buller/Gill’s market-leading INCOME TAX FUNDAMENTALS 2020. This concise, practical introduction to today’s tax preparation uses a unique, step-by-step workbook format that integrates actual tax forms. A clear presentation presents the most up-to-date tax changes and developments as you walk through real examples using current, authentic tax forms. A variety of end-of-chapter problems offer hands-on practice, including tax return problems that use source documents identical to those of real clients. Turn to INCOME TAX FUNDAMENTALS 2020 to refine the timely knowledge and practical skills you need to become a successful tax preparer.Important Notice: Media content referenced within the product description or the product text may not be available in the ebook version.
Table of Contents of Income Tax Fundamentals 2020 (with Intuit ProConnect Tax Online), 38th Edition PDF ebook:
About the AuthorsReviewersAcknowledgmentsThe Annotated 1040 MapTable of ContentsQuestionsChapter 1: The Individual Income Tax Return1-1 History and Objectives of the Tax System1-2 Reporting and Taxable Entities1-3 The Tax Formula for Individuals1-4 Who Must File1-5 Filing Status and Tax Computation1-6 Qualifying Dependents1-7 The Standard Deduction1-8 A Brief Overview of Capital Gains and Losses1-9 Tax and the Internet1-10 Electronic Filing (E-Filing)Key TermsKey PointsQuestions and ProblemsKey Number Tax Return SummaryChapter 2: Gross Income and Exclusions2-1 The Nature of Gross Income2-2 Salaries and Wages2-3 Accident and Health Insurance2-4 Meals and Lodging2-5 Employee Fringe Benefits2-6 Prizes and Awards2-7 Annuities2-8 Life Insurance2-9 Interest and Dividend Income2-10 Municipal Bond Interest2-11 Gifts and Inheritances2-12 Scholarships2-13 Alimony2-14 Educational Incentives2-15 Unemployment Compensation2-16 Social Security Benefits2-17 Community PropertyKey TermsKey PointsQuestions and ProblemsKey Number Tax Return SummaryChapter 3: Business Income and Expenses3-1 Schedule C3-2 Inventories3-3 Transportation3-4 Travel Expenses3-5 Meals and Entertainment3-6 Educational Expenses3-7 Dues, Subscriptions, and Publications3-8 Special Clothing and Uniforms3-9 Business Gifts3-10 Bad Debts3-11 Office in the Home3-12 Hobby LossesKey TermsKey PointsQuestions and ProblemsKey Number Tax Return SummaryChapter 4: Additional Income and the Qualified Business Income Deduction4-1 What Is a Capital Asset?4-2 Holding Period4-3 Calculation of Gain or Loss4-4 Net Capital Gains4-5 Net Capital Losses4-6 Sale of a Personal Residence4-7 Rental Income and Expenses4-8 Passive Loss Limitations4-9 Net Operating Losses4-10 Qualified Business Income (QBI) DeductionKey TermsKey PointsQuestions and ProblemsKey Number Tax Return SummaryChapter 5: Deductions For and From AGI5-1 Health Savings Accounts5-2 Self-Employed Health Insurance Deduction5-3 Individual Retirement Accounts5-4 Small Business and Self-Employed Retirement Plans5-5 Other for AGI Deductions5-6 Medical Expenses5-7 Taxes5-8 Interest5-9 Charitable Contributions5-10 Other Itemized DeductionsKey TermsKey PointsQuestions and ProblemsKey Number Tax Return SummaryChapter 6: Accounting Periods and Other Taxes6-1 Accounting Periods6-2 Accounting Methods6-3 Related Parties (Section 267)6-4 Unearned Income of Minor Children and Certain Students6-5 The Individual Alternative Minimum Tax (AMT)6-6 Self-Employment Tax6-7 The Nanny Tax6-8 Special Taxes for High-Income TaxpayersKey TermsKey PointsQuestions and ProblemsKey Number Tax Return SummaryChapter 7: Tax Credits7-1 Child Tax Credit7-2 Earned Income Credit7-3 Child and Dependent Care Credit7-4 The Affordable Care Act7-5 Education Tax Credits7-6 Foreign Exclusion and Tax Credit7-7 Adoption Expenses7-8 Energy Credits7-9 Low-Income Retirement Plan Contribution CreditKey TermsKey PointsQuestions and ProblemsKey Number Tax Return SummaryChapter 8: Depreciation and Sale of Business Property8-1 Depreciation8-2 Modified Accelerated Cost Recovery System (MACRS) and Bonus Depreciation8-3 Election to Expense (Section 179)8-4 Listed Property8-5 Limitation on Depreciation of Luxury Automobiles8-6 Intangibles8-7 Section 1231 Gains and Losses8-8 Depreciation Recapture8-9 Business Casualty Gains and Losses8-10 Installment Sales8-11 Like-Kind Exchanges8-12 Involuntary ConversionsKey TermsKey PointsQuestions and ProblemsKey Number Tax Return SummaryChapter 9: Payroll, Estimated Payments, and Retirement Plans9-1 Withholding Methods9-2 Estimated Payments9-3 The FICA Tax9-4 Federal Tax Deposit System9-5 Employer Reporting Requirements9-6 The FUTA Tax9-7 Qualified Retirement Plans9-8 RolloversKey TermsKey PointsQuestions and ProblemsChapter 10: Partnership Taxation10-1 Nature of Partnership Taxation10-2 Partnership Formation10-3 Partnership Income Reporting10-4 Current Distributions and Guaranteed Payments10-5 Tax Years10-6 Transactions between Partners and the Partnership10-7 Qualified Business Income Deduction for Partners10-8 The At-Risk Rule10-9 Limited Liability CompaniesKey TermsKey PointsQuestions and ProblemsKey Number Tax Return SummaryChapter 11: The Corporate Income Tax11-1 Corporate Tax Rates11-2 Corporate Gains and Losses11-3 Special Deductions and Limitations11-4 Schedule M-111-5 Filing Requirements and Estimated Tax11-6 S Corporations11-7 Corporate Formation11-8 Corporate Accumulations11-9 The Corporate Alternative Minimum TaxKey TermsKey PointsQuestions and ProblemsKey Number Tax Return SummaryChapter 12: Tax Administration and Tax Planning12-1 The Internal Revenue Service12-2 The Audit Process12-3 Interest and Penalties12-4 Statute of Limitations12-5 Preparers, Proof, and Privilege12-6 The Taxpayer Bill of Rights12-7 Tax PlanningKey TermsKey PointsQuestions and ProblemsAppendicesAppendix A: Tax Rate Schedules and Tax TableAppendix B: Earned Income Credit TableAppendix C: Withholding TablesAppendix D: Additional Comprehensive Tax Return ProblemsAppendix E: Solutions to Self-Study ProblemsGlossary of Tax TermsIndexList of FormsList of SchedulesList of Worksheets