Book Reviews

This textbook and supplemental materials introduce students to federal income taxation for individuals, help prepare them for the CPA and enrolled agent exams, and advance their careers in tax and financial accounting.The textbook utilizes a code-based model and includes the most current tax code updates, enabling students to master today's tax concepts and law.Each of the textbook's 14 chapters begins with a storyline that introduces a taxpayer facing a specific tax-related situation.This enables students to learn the code in context and apply their knowledge to real-life scenarios.Tax and nontax considerations for transactions are provided to enable students to integrate financial and tax accounting acumen and sharpen critical thinking skills.Tax return problems and research assignments enable students to develop the essential skills required of a tax professional.Online learning tools, such as guided example videos, Excel, Alteryx, and Tableau, provide students with the opportunity to apply what they learn within the framework of analytics and critical thinking.In addition, the textbook offers educational TaxAct tax preparation software as well as UWorld CPA Exam review content, provided directly through the McGraw Hill learning management system, Connect.A series of artificial intelligence (AI)/critical thinking questions enable students to evaluate an AI tool's response to tax questions related to material covered in the related chapter.Professors would assign the utilization of this textbook in their introductory course in taxation.It is organized to lay an excellent foundation for students taking their first tax course.The first three chapters provide an introduction to taxation, tax planning, and research.Part II (Chapters 4-8) discusses tax fundamentals, starting with the tax formula and proceeding to a discussion of income, deductions, and tax liability computations.Part III (Chapters 9-11) provides an overview of business-related concepts, such as income recognition, deductions, and asset acquisition and disposition.Part IV (Chapters 12-14) addresses special topics for individuals, such as compensation issues, retirement savings, and home ownership.The following chapter-by-chapter synopsis provides details on chapter content.