Review: Taxation of Individuals (2010 Edition)
(A.J.) Cataldo II Ph.D:Â Â Dr. Cataldo is a Professor
of Accounting, West Chester University. Dr.
Cataldo holds a PhD from Virginia Polytechnic Institute and State
University , MAcÂ ( University of Arizona)Â unofficial minor
in Marketing , BSBAÂ (University of Arizona). He is a Certified
Management Accountant and a Certified Public Accountant:Â Click
Here to view
Authors: Brian Spilker, Ben Ayers, John Robinson, Ed
Outslay, Ron Worsham, John Barrick and Connie Weaver
Taxation of Individuals is a textbook likely to be used for an introductory course in a four-year program leading to a degree in accounting. The text consists of 25 chapter and 4 indexes: A - tax forms, B - tax terms glossary, C - comprehensive tax return problems, and D - code index.
Just a few of the more impressive or novel features follow:
Chapter 1 – Explicit formulas for the average and effective tax rates
Chapter 3 – Present value examples to illustrate the advantages of tax deferral and explicit formulas for before-tax and after-tax dollars
Chapter 8 – A detailed table illustrating the component differences between cash and accrual basis accounting
Chapter 10 – Some extremely novel and clearly presented exhibits illustrating components of section 1231, 1245 and 1250 property and section 1031 tax-free (or deferred) gains
Chapter 12 – Some excellent timeline illustrations for incentive and nonqualified options and restricted stock
There are many innovative figures and exhibits likely to contribute to the reader’s understanding of tax theory and tax law. A particularly novel feature is the use of a summary tax return or relevant component at the end of each chapter. I have never seen this in any other tax text (and I have seen them all), and only wish I had thought of it.
Frequently, I have to supplement the texts I select for courses at my institution. No text is perfect, but when I see MANY innovative and novel features that clearly present otherwise complex material, I get excited. This introductory tax text has my highest possible recommendation.