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Pearson's Federal Taxation 2024 Individuals, 37th edition

Published by Pearson (May 28, 2023) © 2024

  • Mitchell Franklin Le Moyne College
  • Luke E. Richardson University of South Florida

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For principles of taxation courses.

Master the principles of taxation with the latest tax regulations

The Franklin/Richardson series is unsurpassed in blending technical aspects of the most recent federal taxation mandates with maximum readability and relevance for students. Pearson's Federal Taxation 2024 Individuals contains strong pedagogical tools that enable readers to apply tax principles within the text to real-life situations.

Incorporating tax information from 2022 and early 2023, the 37th Edition provides an up-to-date resource and a better teaching and learning experience for both you and your students.

Hallmark features of this title

  • Real-life examples relate the material to events, cases and stats (some from the IRS's Statistics of Income) occurring in tax and business environments.
  • What Would You Do In This Situation boxes place students in the role of decision maker and include controversies that are unresolved or are currently being resolved by the courts.
  • Financial Statement Implications sections discuss the ramifications of ASC 740.
  • Stop & Think boxes have students pause and think through questions to help them apply what they've just learned.
  • Ethical Points, Tax Strategy Tips, and Additional Comments highlight supplemental info to the text.
  • Book-to-Tax Accounting Comparison comments compare tax discussions in the text to accounting and/or financial statement treatment of this material.

New and updated features of this title

  • UPDATED: A complete refresh of the material to include the most recent laws passed and their implications helps prepare students for their field. Whenever new updates become available, they're posted to MyLab Accounting. They include:
    • Provisions in the Coronavirus Aid, Relief, and Economic Security (CARES) Act; the Taxpayer Certainty and Disaster Tax Relief Act of 2020; and subsequent guidance affecting individual taxpayers.
    • Significant court cases and IRS rulings and procedures during 2022 and early 2023.
    • All tax rate schedules to reflect rate and inflation adjustments for 2023.
    • End-of-chapter tax return problems to 2022.
  • UPDATED: TaxACT 2022 Software, available via online purchase, is a user-friendly tax preparation program that includes more than 80 tax forms, schedules and worksheets. TaxACT calculates returns and alerts users to possible errors or entries.

Features of MyLab Accounting for the 37th Edition

  • Homework and practice exercises in MyLab are correlated to the exercises in the text, reflecting each author's approach and learning style. They regenerate algorithmically to give students unlimited opportunity for practice and mastery.
  • With LMS Integration, you can link your MyLab course from Blackboard Learnâ„¢, Brightspace® by D2L®, Canvasâ„¢, or Moodle®.
  • Pearson eText is an easy-to-use digital textbook available within MyLab. The mobile app lets students learn on the go, online or offline.
  • The Study Plan gives students personalized recommendations, practice opportunities and learning aids to help them stay on track.
  1. An Introduction to Taxation
  2. Determination of Tax
  3. Gross Income: Inclusions
  4. Gross Income: Exclusions
  5. Property Transactions: Capital Gains and Losses
  6. Deductions and Losses
  7. Business Expenses and Deferred Compensation
  8. Itemized Deductions
  9. Losses and Bad Debts
  10. Depreciation, Cost Recovery, Amortization, and Depletion
  11. Accounting Periods and Methods
  12. Property Transactions: Nontaxable Exchanges
  13. Property Transactions: Section 1231 and Recapture
  14. Special Tax Computation Methods, Tax Credits, and Payment of Tax
  15. Tax Research
  16. Corporations
  17. Partnerships and S Corporations
  18. Taxes and Investment Planning

QUICK REFERENCE

  • 2023 Tax Rate Schedules and Other Key Numbers

TABLES

  • 2022 Tax Tables and Rate Schedules and 2023 Withholding Tables (Partial)

APPENDICES

  1. Tax Research Working Paper File
  2. Tax Forms
  3. MACRS Tables
  4. Glossary
  5. AICPA Statements on Standards for Tax Services Nos. 1-7
  6. Index of Code Sections
  7. Index of Treasury Regulations
  8. Index of Government Promulgations
  9. Index of Court Cases
  10. Subject Index

About our authors

Luke E. Richardson is an Associate Professor of Instruction and Kerkering Barberio Fellow in the Lynn Pippenger School of Accountancy at the University of South Florida. He received undergraduate and graduate degrees in accounting from the University of South Florida and a JD from the Stetson University College of Law. Professor Richardson, a CPA and lawyer in Florida, worked with Deloitte prior to his current role. He teaches several courses in taxation of individuals and business entities. Outside the classroom, he serves as a faculty advisor for the Delta Gamma chapter of Beta Alpha Psi and is active with the Florida Institute of CPAs. Professor Richardson has published articles in professional journals such as Tax Notes, The Tax Adviser and the Journal of Accountancy.

Mitchell Franklin, PhD, CPA, is an Associate Professor of Accounting at the Le Moyne College Madden School of Business, in Syracuse, New York. His research interests explore the impact of tax policies on individual and business decisions, as well as pedagogical issues in both financial accounting and taxation. Dr. Franklin has published over 50 articles in journals that include Issues in Accounting Education, Advances in Accounting Education, Journal of Taxation, Tax Notes and The Tax Adviser. Dr. Franklin presently serves on the editorial board of Issues in Accounting Education and is an associate editor for The Accounting Educators' Journal. Professionally, Dr. Franklin currently serves as President of the American Accounting Association Northeast Region and serves as Chair of the 2023 American Taxation Association Conference for Teaching and Learning. Prior to joining Le Moyne College, Dr. Franklin served on the accounting faculty at the Syracuse University, Whitman School of Management for 15 years.

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