An innovative approach to understanding the federal income tax laws for business entities and developing tax-efficient strategies. Presents the big picture to understanding the tax laws with a practice-based approach so students can develop critical thinking and problem-solving skills that prepare them to make effective decisions. Taxation of Business Entities, 2026 Edition introduces a comprehensive foundation for the income tax system, so students can understand why a law exists and how to apply the law to practical tax problems encountered by businesses. Professional skill-building exercises develop critical thinking and communication skills and the ability to identify and address ethical dilemmas, preparing students to be successful tax professionals. WILEY ADVANTAGE Incorporates Tax Planning Tips that focus on planning opportunities for corporations, S corporations, partnerships, and LLCs throughout, and a chapter on the choice of business entity Includes specialized tax topics such as accounting for income taxes on financial statements, income taxation of trusts and estates, estate and gift taxation, state and local taxation, multinational taxation, and tax-exempt organizations Practice opportunities are presented immediately following each learning objective, because students comprehend best by applying what they just learned Creates a realistic environment to teach students how to apply their knowledge that will transfer to job-ready skills with Tax Form and Tax Return Problems that include actual tax source documents Develops tax planning skills through Tax Planning Problems, Spotlight on the Tax Law, and Excel exercises that stimulate critical analysis and evaluation Features applications and problems that focus on tax-planning skills, analytical skills, research skills, communication skills, and the ability to identify and address ethical dilemmas Task-Based Simulation Problems similar to those used on the CPA Exam include realistic source documents such
