Federal Income Taxation or Understanding A3 Thinking

Federal Income Taxation

Author: Klein

This accessible yet challenging casebook features distinguished authorship, an approach that integrates theory and policy throughout, and pedagogy that includes problems interspersed among notes and questions.

What distinguishes Federal Income Taxation from the competition?

• excellent problems
• a unique introduction that provides insightful historical background and some economic analysis
• balance of theory and policy integrated throughout the text
• excellent Teacher’s Manual

Changes for the 14th Edition feature:

Recent developments in taxation, including:

• health insurance
• the special rate for dividends
• tax treatment of stock options
• the deduction for medical expenses and its effects
• new Health Savings Account provisions and their intended effects
• new definitions of “dependents,” “qualifying relatives,” etc.
• Description of Section 529 “qualified tuition programs”
• Revenue Ruling 2004-18 (deduction for costs to clean up land with hazardous waste)
• New Circular 230 rules for tax shelter opinions
• Revised AMT discussion

New cases incorporated in the main text and notes:

• King v. Commissioner (dependency exemption issue for divorced couple with a written declaration; good classroom facts and good opportunity to examine Code provision)
• Discussion of Banks v. Commissioner (attorney fees included in client’s income) and PLR 200518017 (fees in opt-outclass action not included in income of members of class)
• Churchill Downs, Inc. v. Commissioner (application of the 50 percent limitation on deduction of entertainment expenses; nice facts and interesting legal issues)
• Revised Note on INDOPCO, Inc. v. Commissioner and the new regulations
• Discussion of Coltec Industries v. United States (“economic substance” doctrine as does not trump Code language)
• Discussion and questions about United States v. Maginnis (rejecting taxpayer claim that sale for lump sum of right to annual lottery payments should give rise to capital gain)
• Revised Teacher’s Manual with updated sample Syllabi and Transition Guide

Interesting book: The Natural Medicine Guide to Addiction or The Fasting Cure

Understanding A3 Thinking: Keys and Tools for PDCA Management

Author: Durward K Sobek II

Notably flexible and brief, the A3 report has proven to be a key tool In Toyota's successful move toward organizational efficiency, effectiveness, and improvement, especially within its engineering and R&D organizations. The power of the A3 report, however, derives not from the report itself, but rather from the development of the culture and mindset required for the implementation of the A3 system. In other words, A3 reports are not just an end product but are evidence of a powerful set of dynamics that is referred to as A3 Thinking.

In Understanding A3 Thinking, the authors first show that the A3 report is an effective tool when it is implemented in conjunction with a PDCA-based management philosophy. Toyota views A3 Reports as just one piece in their PDCA management approach. Second, the authors show that the process leading to the development and management of A3 reports is at least as important as the reports themselves, because of the deep learning and professional development that occurs in the process. And finally, the authors provide a number of examples as well as some very practical advice on how to write and review A3 reports.