Includes appendix and index.

Contents: An introduction to tax -- Tax compliance, the IRS, and tax authorities -- Tax planning strategies and related limitations -- Individual income tax overview, exemptions, and filing status -- Gross income and exclusions -- Individual deductions -- Individual income tax computation and tax credits -- Business income, deductions, and accounting methods -- Property acquisition and cost recovery -- Property dispositions -- Investments -- Compensation -- Retirement savings and deferred compensation -- Tax consequences of home ownership -- Entities overview -- Corporate operations -- Accounting for income taxes -- Corporate taxation: nonliquidating distributions -- Corporate formation, reorganization, and liquidation -- Forming and operating partnerships -- Dispositions of partnership interests and partnership distributions -- S corporations -- State and local taxes -- The U.S. taxation of multinational transactions -- Transfer taxes and wealth planning.