Discover a concise, practical, and time-tested introduction to the most important areas of tax law with INCOME TAX FUNDAMENTALS 2016. For more than 30 years, this book has led the market using a unique, clear, step-by-step workbook format that walks you through real examples using actual tax forms. With plentiful study tools and online resources, including CengageNOW™ online homework tool and professional tax software, INCOME TAX FUNDAMENTALS 2016 helps you master the knowledge and practical skills to become a successful tax preparer.

1. The Individual Income Tax Return.
2. Gross Income and Exclusions.
3. Business Income and Expenses, Part I.
4. Business Income and Expenses, Part II.
5. Itemized Deductions and Other Incentives.
6. Credits and Special Taxes.
7. Accounting Periods and Methods and Depreciation.
8. Capital Gains and Losses.
9. Withholding, Estimated Payments, and Payroll Taxes.
10. Partnership Taxation.
11. The Corporate Income Tax.
12. Tax Administration and Tax Planning.
Appendix A: Tax Rate Schedules and Tax Tables.
Appendix B: Earned Income Credit Table.
Appendix C: Withholding Tables.
Appendix D: Additional Comprehensive Tax Return Problems.
Appendix E: Solutions to Self-Study Problems.
Glossary of Tax Terms.
Index.
List of Forms.
List of Schedules.

Discover a concise, practical, and time-tested introduction to the most important areas of tax law with INCOME TAX FUNDAMENTALS 2016. For more than 30 years, this book has led the market using a unique, clear, step-by-step workbook format that walks you through real examples using actual tax forms. With plentiful study tools and online resources, including CengageNOW™ online homework tool and professional tax software, INCOME TAX FUNDAMENTALS 2016 helps you master the knowledge and practical skills to become a successful tax preparer. EXPANDED COVERAGE ADDRESSES EARNED INCOME TAX CREDIT (EIC) AND CHILDCARE TAX CREDIT. This edition examines the EIC as well as today's Childcare Tax Credit in more detail to provide readers with key information and details needed to most effectively prepare taxes. NEW STUDENT-FRIENDLY DESIGN. An engaging, full-color design throughout this edition increases the book's appeal and readability. Clear, colorful presentations throughout help increase comprehension. CengageNOWv2™ PROVIDES ONLINE COURSE MANAGEMENT AND ENHANCED STUDENT LEARNING TOOLS. With its engaging learning and assessment tools, CengageNOWv2™ supports the entire student workflow, from motivation to mastery. For you, the instructor, CengageNOWv2™ continues to provide enhanced control and customization with additional opportunities to tailor the learning experience to improve outcomes. CengageNOWv2™ goes beyond memorization and basic homework practice to engage students using relevant multimedia study tools, detailed feedback, and assessment tools. A WEALTH OF PROBLEMS AND PRACTICAL QUESTIONS OFFER HANDS-ON EXPERIENCE FOR STUDENTS. You can be sure your students are practicing with the latest tax information. This book's proven end-of-chapter questions, tax return problems, and test bank problems all reflect the dozens of standard changes that result from yearly cost of living tax rate increases and phase-ins and phase-outs of tax benefits. STUDENTS WORK WITH THE LATEST, PROFESSIONAL H&R BLOCK SOFTWARE. Your students have the opportunity to use actual H&R Block software for tax year 2015, which is available with each new copy of the book. Students are able to actually solve many of the 2015 Individual Income Tax Return problems in the book using this professional tool. The software is easy to use with many helpful features, including access to useful tips, calculators, and the most current tax information. INTERNAL REVENUE CODE SECTIONS AND QUICK TAX REFERENCE GUIDE. Useful at-a-glance tools, including the Important Internal Revenue Code Sections and Quick Tax Reference Guide feature critical information, such as the Tax Formula, provided in full color for easy student reference.