Federal income taxation: a law student's guide to the leading cases and concepts
Gespeichert in:
| Beteiligte Personen: | , |
|---|---|
| Format: | Buch |
| Sprache: | Englisch |
| Veröffentlicht: |
St. Paul, MN
Foundation Press
2015
|
| Ausgabe: | 13. ed. |
| Schriftenreihe: | Concepts and insights series
|
| Schlagwörter: | |
| Links: | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027955090&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| Umfang: | X, 533 S. |
| ISBN: | 162810029X 9781628100297 |
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Datensatz im Suchindex
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|---|---|
| adam_text | TABLE OF CONTENTS
Preface..................................................v
Introduction. Terminology, Timing and Rates..............1
(a) Tax Terminology...........................1
(b) Tax Rates.................................3
Part A. Income...........................................9
1. Non-Cash Benefits: Meals-and-Lodgings; Imputed
Rents...............................................13
1.01 General Comment..............................13
1.02 Forced Saving and Forced Consumption—
“Convenience of the Employer”................18
1.03 Imputed Income...............................28
2. Recovery of Capital Investment......................30
2.01 General Comment; Corporate Stock.............30
2.02 Annuities....................................36
2.03 Life Insurance...............................40
2.04 Damage Awards.............................. 44
(a) Personal Injury..........................44
(b) Commercial Damages.......................47
3. Increase in Net Worth—Cancellation of Indebtedness..49
3.01 General Comment............................ 49
(a) Effect of Inflation......................49
(b) Discharge by Third Parties...............51
(c) When Is a Loan Not a Loan?...............55
(d) Mort gages...............................56
3.02 Cancellation of Indebtedness.................57
(a) Cancellation of Business Debt............57
(b) Cancellation of Personal (Nonbusiness)
Debt.....................................60
4. Gifts and Bequests..................................64
4.01 Gains and Losses—Realization by Whom?........65
(a) Lifetime Gifts...........................66
(b) Bequests.................................69
4.02 Divided Interests—Gifts in Trust.............70
4.03 Commercial Gifts.............................75
5. The Realization Requirement—Macomber, Bruun, and
the Divorce Cases...................................79
5.01 General Comment..............................79
5.02 Stock Dividends..............................81
5.03 Leasehold Termination—Helvering v. Bruun.....90
5.04 Marital Property Settlements—Davis and
Farid-Es-Sultaneh............................96
5.05 Cottage Savings and the Realization Threshold ..... 100
5.06 Deferral and Exemption: Individual Retirement
Accounts....................................102
Part B. Deductions.....................................117
6. Business Expenses..................................118
6.01 Everyday Expenses of Employment.............120
(a) Childcare and Housekeeping..............120
(b) Nice Clothes............................123
(c) Commuting to Work.......................126
vii
TABLE OF CONTENTS
(d) Litigation Expense........................131
6.02 Business or Pleasure—Travel and
Entertainment.................................133
6.03 Capital Expenditures...........................143
(a) Repairs or Alterations....................144
(b) Business Intangibles and Advertising......148
(c) Lease or Purchase.........................151
(d) Education.................................154
6.04 “Ordinary and Necessary”.......................156
6.05 Reasonable Compensation........................160
6.06 Interest..................................... 167
(a) “Tax Arbitrage” and Special Disallowances.... 168
(b) Sham Transactions.........................171
6.07 Losses.........................................176
6.08 Bad Debts......................................180
6.09 Depreciation—General Background.............. 182
(a) Eligible Property.........................183
(b) Limitation to Cost........................183
(c) Useful Lives..............................185
(d) Permissible Methods..................... 186
6.10 ACRS and Leveraged Leases......................193
(a) ACRS......................................193
(b) Leveraged Leases and the Transfer of Tax
Benefits..................................196
6.11 Purchased Intangibles; Code § 197..............202
7. Personal Expense Deductions...........................205
7.01 General Comment................................205
7.02 Medical Expenses, Health Insurance, and
Casualty Losses...............................211
(a) Medical Expense...........................211
(b) Casualty Losses...........................214
7.03 Charitable Contributions.......................215
7.04 Home Mortgage Interest.........................218
7.05 Miscellaneous Deductions.......................224
7.06 Standard Deduction; Adjusted Gross Income;
Personal Exemptions...........................227
7.07 The Child Tax Credit and Dependent Care
Credit........................................229
(a) Child Tax Credit..........................229
(b) Dependent Care Credit.....................231
7.08 EITC...........................................231
7.09 Education Incentives...........................233
7.10 The Alternative Minimum Tax....................237
Part C. Attribution of Income.............................249
8. The Early Cases.......................................251
8.01 Gifts of Personal Service Income; Lucas v. Earl;
Poe v. Seaborn................................251
(a) Redirected Salary.........................251
(b) Services in Kind..........................256
8.02 Assignment of Deferred Income: Helvering v.
Eubank........................................258
8.03 Gifts of Income from Property—Horst, Blair and
Schaffner.....................................262
(a) The Horst Case............................262
viii
TABLE OF CONTENTS
(b) Blair and Schaffner.......................266
8.04 Gifts in Trust—Corliss, Wells and Clifford....268
8.05 Summary of Attribution Principles.............272
9. Statutory Treatment of Income Attribution............275
9.01 Grantor Trusts................................275
(a) Reversionary Interests...................277
(b) Income for Grantor’s Benefit.............277
(c) Revocability and Powers to Control
Enjoyment................................278
(d) Persons Other Than Grantor Treated as
Owner....................................280
9.02 Unearned Income of Minors (and Some Young
Adults)—the Kiddie Tax........................281
9.03 Family Business Associations..................283
(a) Partnerships.............................283
(b) Corporations.............................286
9.04 Joint Returns: Taxation of Married and Single
Persons.......................................289
9.05 Alimony and Separate Maintenance..............294
Part D. Tax Accounting..................................305
10. Annual Accounting....................................306
10.01 Loss Carryovers—Burnet v. Sanford
Brooks........................................306
10.02 Claim of Right................................311
10.03 The Tax Benefit Rule..........................316
11. The Cash Method......................................318
11.01 Constructive Receipt and Cash Equivalency.....319
(a) Constructive Receipt.....................319
(b) Deferred Compensation....................321
(c) “Calling Off’ Constructive Receipt.......326
11.02 Prepaid Expenses..............................326
12. The Accrual Method...................................328
12.01 Recognition of Income and Expenses; Disputed
Items.........................................330
(a) Timing of Revenues and Expenditures......330
(b) Disputed Items...........................333
12.02 Advance Receipts and Reserves for Estimated
Expenses......................................336
12.03 Use of Inventories............................340
(a) The “First-in, First-out” (FIFO) Method..341
(b) The “Last-in, First-out” (LIFO) Method...342
(c) Comparison of Principal Methods..........343
Part E. Recognition of Gains and Losses—Selected
Issues..............................................351
13. Transactions in Mortgaged Property...................352
13.01 Nonrecourse Debt and the Depreciation
Allowance; The Crane Rule................... 353
13.02 Real Estate Tax Shelters: The “At-Risk” and
“Passive Activity Loss” Limitations...........361
(a) At-Risk..................................362
(b) Passive Activity Losses..................364
13.03 Mortgage of Appreciated Property—The
Woodsam Case..................................367
ix
TABLE OF CONTENTS
13.04 Dispositions of Encumbered Assets—Tufts
and Diedrich.................................371
(a) Excessively Mortgaged Property...........371
(b) Conditional Gifts........................375
13.05 Estate of Levine: An Exercise.................377
13.06 Short Sales and Related Devices...............381
14. Deferred Payment Transactions........................384
14.01 In General....................................384
14.02 The Installment Method........................386
14.03 The “Fair Market Value” Rule..................388
15. Non-Recognition Transactions.........................391
15.01 Like-Kind Exchanges...........................392
15.02 Sale of a Personal Residence..................400
Part F. Capital Gains and Losses.........................411
16. Introduction.........................................411
16.01 Recent History; Repeal and Reinstatement......411
16.02 Legislative Purpose...........................413
16.03 Mechanics of Computation......................419
17. Judicial Development of the Capital Asset Definition.422
17.01 General Comment...............................422
17.02 Everyday Business Activities..................424
17.03 Substitute for Future Income..................431
(a) Carved-out Interests; Hort and Lake......431
(b) Sale of a Life Estate....................435
(c) Other Contract Rights....................439
17.04 Fragmentation and Imputed Interest............446
(a) Sale of an Entire Business...............447
(b) Bond Discount and Imputed Interest.......449
17.05 Recurring Receipts............................453
(a) Contingent Payments......................454
(b) Open Transactions...................... 456
18. Sales of Business Property...........................460
18.01 Property Held for Sale to Customers...........461
18.02 Fixed Assets: Real and Depreciable Property...465
(a) Section 1231.............................465
(b) The Recapture Principle..................467
19. Personal Services....................................468
19.01 Employee Stock Options........................469
19.02 Patents, Copyrights, and Self-Created
Property.....................................473
Afterword................................................483
Note. What Is the True Value of a Tax Preference?........489
Note. Income Tax, Consumption Tax, Flat Tax..............497
Note. Tax Shelters and Economic Substance................503
Appendix A. Present Value.............................. 515
Table of Cases...........................................521
Index....................................................525
x
|
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| author | Chirelstein, Marvin A. Zelenak, Lawrence |
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| bvnumber | BV042520750 |
| classification_rvk | PP 8675 |
| ctrlnum | (OCoLC)910908707 (DE-599)BVBBV042520750 |
| discipline | Rechtswissenschaft |
| edition | 13. ed. |
| format | Book |
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| series2 | Concepts and insights series |
| spellingShingle | Chirelstein, Marvin A. Zelenak, Lawrence Federal income taxation a law student's guide to the leading cases and concepts Income tax / Law and legislation / United States Income tax / Law and legislation fast Recht Einkommensteuerrecht (DE-588)4070699-0 gnd |
| subject_GND | (DE-588)4070699-0 (DE-588)4078704-7 (DE-588)4123623-3 |
| title | Federal income taxation a law student's guide to the leading cases and concepts |
| title_auth | Federal income taxation a law student's guide to the leading cases and concepts |
| title_exact_search | Federal income taxation a law student's guide to the leading cases and concepts |
| title_full | Federal income taxation a law student's guide to the leading cases and concepts by Marvin A. Chirelstein ; Lawrence Zelenak |
| title_fullStr | Federal income taxation a law student's guide to the leading cases and concepts by Marvin A. Chirelstein ; Lawrence Zelenak |
| title_full_unstemmed | Federal income taxation a law student's guide to the leading cases and concepts by Marvin A. Chirelstein ; Lawrence Zelenak |
| title_short | Federal income taxation |
| title_sort | federal income taxation a law student s guide to the leading cases and concepts |
| title_sub | a law student's guide to the leading cases and concepts |
| topic | Income tax / Law and legislation / United States Income tax / Law and legislation fast Recht Einkommensteuerrecht (DE-588)4070699-0 gnd |
| topic_facet | Income tax / Law and legislation / United States Income tax / Law and legislation Recht Einkommensteuerrecht United States USA Lehrbuch |
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