McGraw-Hill’s Taxation of Business Entities begins with theprocess for determining gross income and deductions forbusinesses, and the tax consequences associated with purchasingassets
and property dispositions (sales, trades, orother dispositions). Part II provides a comprehensive overviewof entities, and the formation, reorganization, and liquidationof corporations. Unique
to this series is a completechapter on accounting for income taxes, which provides aprimer on the basics of calculating the income tax provision.Included in the narrative is a discussion of
temporary andpermanent differences and their impact on a company’s book“effective tax rate.” Part III provides a detailed discussion ofpartnerships and S corporations. The last part of the
bookcovers state and local taxation, multinational taxation, andtransfer taxes and wealth planning.
