Federal Taxation: Basic Principles (2021)

Author(s): Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback

Published: Apr 17, 2020
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ISBN: 9780808054078
Product Number: 10030002-0011
Volumes: 1
Update Frequency: Annually
888 Pages

Federal Taxation: Basic Principles is a popular first-level tax course textbook that provides a clear concise explanation of the fundamental tax concepts covering both tax planning and compliance. Basic Principles strikes a perfect balance between the AICPA model curriculum (focusing on business tax) and the demands favored by most teachers (covering the fundamentals and building toward the complex). The book is also a favorite in distant learning, because of its clarity and direct approach, and it is also used in special programs like CFP courses.

Basic Principles covers the core tax concepts and principles, including individual taxation, gross income, deductions, credits, property transactions, accounting methods and periods, deferred compensation, retirement plans, partnerships, corporations, trusts and estates, and tax planning for individuals.

It is written by an editorial board of tax teachers that includes members who are currently active in the American Accounting Association, American Taxation Association, the National Tax Challenge, CFP education, CPE lectures, CPA preparation and other programs, so you can be assured that the text is allied with real-world educational outcomes.


Wolters Kluwer offers a complete teaching package to support adopting instructors. Instructors adopting this book receive a downloadable Instructor's Guide that includes the following helpful features:

  • Course outlines and AICPA Model Tax Curriculum outlines that show how the text can be used by teachers in various types of courses.
  • Summary of each chapter to provide the adopter with a quick view of what's covered and to facilitate course preparation and development of lesson plans.
  • Answers to both the Keystone Problems and End-of-Chapter Questions and Problems in each chapter in the book.
  • Testbank questions and answers that correspond to each chapter in the book.
  • Respondus-ready and Microsoft® Word files of the Testbank questions created by the textbook authors for all chapters in the book. These files allow instructors to customize their own tests.
  • Computer Slide Presentations for each chapter that help enhance and facilitate class lectures and discussion.

    Upon request, adopting teachers with classes of 10 or more students will also receive a complimentary one-year subscription to CCH AnswerConnect - a research platform backed by over 100 years of expertise. CCH AnswerConnect was uniquely designed to deliver comprehensive, technical information in an easy-to-use format, and keeps instructors completely abreast of recent legislation, cases, and other judicial developments.

    To learn more about CCH AnswerConnect visit: TaxNA.WoltersKluwer.com/AnswerConnect

    Upon request, adopting teachers with classes of 10 or more students will also receive TaxWise Online- our Educational Online Tax Preparation Software solution. This software is cloud based and can be accessed anywhere. The professor can also monitor each of the students’ progress as he or she performs the return. Therefore, the professor can assign homework and checkup on the students at anytime from anywhere etc. Each student will be assigned a username and will be able to save their progress as they go. Please Note: At the moment the system can only perform individual returns. For more product info visit: TaxNA.WoltersKluwer.com/TaxWiseOnline

    The Federal Tax Study Manual is designed to enhance learning and improve comprehension for students of federal tax. Instructors receive a complimentary copy of the previous edition of this book for review purposes. Once adopted for classroom use, a copy of the current edition of the text will be provided to the professor.

    Instructors: Please visit TaxNA.WoltersKluwer.com/Schools to learn more and request a desk copy for review.
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