The Eighth Edition features substantially revised and updated material on medical expenses, including recent case law on the deductibility of cosmetic surgery expenses as well as the impact of the Affordable Care Act on exclusions from gross income and medical expense deductions. Updated, revised, and significantly longer, the discussion of constitutional and historical issues relating to the taxing power shows their impact on the modern debate over its scope. The current debate over fundamental tax reform and deficit reduction is included in an updated and revised final chapter.
Hallmark features:
Clear explanation of the intricacies of the federal income tax code
Realistic problem-solving approach to a potentially frustrating course
Organized according to the taxing formula (different tax rates)
o students develop a clear understanding of each level of taxation
fundamental concepts through numerous problems
Thoroughly updated, the revised Eight Edition presents:
Substantially revised and updated sections related to medical expenses
o recent case law on the deductibility of cosmetic surgery expenses
o impact of the Affordable Care Act on exclusions from gross income and medical expense deductions
Updated, revised, and substantially longer discussion of constitutional and historical issues relating to the taxing power
o shows impact on modern debate over the scope of taxing power
New material on current debate over fundamental tax reform and deficit reduction
o shows ways to structure and teach problems in 3-credit and 4-credit courses