Fundamentals of Business Enterprise Taxation Seventh Edition Schwarz

Fundamentals of Business Enterprise Taxation Seventh Edition Schwarz 9781642428797

The Seventh Edition of this comprehensive casebook offers an integrated approach to teaching corporate and partnership tax fundamentals, serving as an alternative to the authors’ widely adopted separate texts on these subjects. Known for its clarity and engagement, the casebook combines explanatory text, well-crafted problems, selective tax policy discussions, and a diverse mix of original source materials, including the Internal Revenue Code and regulations.

Key Updates in the Seventh Edition:

This extensively revised edition incorporates all major developments since the previous edition, with a focus on the transformative changes brought about by the 2017 Tax Cuts and Jobs Act. Highlights include:

• Qualified Business Income Deduction (§ 199A):
  • Detailed discussion of the 20% deduction for qualified business income from pass-through entities.
  • Incorporation of final regulations and inclusion of new problems for practical application.
• Impact on Choice of Entity:
  • Analysis of how the 21% corporate income tax rate, lower individual rates, the § 199A deduction, and other tax and business considerations influence entity selection.
• Carried Interests and Capital Gains:
  • Explanation of the new three-year holding period required for capital gains allocated to service partners in certain investment partnerships.
• Corporate Capital Structure:
  • Updated to reflect changes due to the reduced corporate tax rate and the new § 163(j) limitation on business interest deductions.
• Excess Business Losses:
  • Discussion of new limitations and their implications.
• Technical Changes and Regulatory Developments:
  • Coverage of updates to Subchapters K and C, including partnership liability rules and corporate divisions.
• S Corporation Updates:
  • Focus on the requirement for shareholder-employees to receive reasonable compensation to qualify for the § 199A deduction for qualified business income.

This new edition ensures students and instructors have the most current and comprehensive tools to navigate the complex and ever-evolving field of corporate and partnership tax law.

Fundamentals of Business Enterprise Taxation Seventh Edition Schwarz 9781642428797