Federal Income Tax

This audio lecture includes: History; Gross Income - Basic Tax Formula; Exclusions from Gross Income - Employment-related, Gifts and Inheritances, Municipal Bond Interest, Personal Injury Awards; Computing Gains or Losses - Basic §1001 Formula, Basis, Transfers Between Spouses, Nonrecognition Rules (Like-Kind Exchanges, Involuntary Conversions, Sale or Exchange of a Principal Residence); Alimony and Child Support; Business Income - Ordinary and Necessary Business Expenses, Capitalization, Business or Investment Losses; Calculating Taxable Income - Adjusted Gross Income; To Whom is it Income - Assignment of Income, Contingent Fees, The "Kiddie Tax"; When is it Income - Accrual Method, Installment Sales, Annual Accounting; Ordinary Income v. Capital Gain - Basic Rate Structure, Netting Rules, Capital Assets, Quasi-Capital Assets, Shareholder Dividends.