CHAPTER 1
This introductory chapter is designed primarily for self-study to prepare students for this tax course. It explains why knowledge of the tax law is important to business students.

CHAPTER 2
The practice of tax involves compliance, planning, analysis, and audit assistance. One approach to understanding and appreciating the importance of taxes to businesses is to understand the role a tax adviser plays in the process. Various rules of conduct applicable to tax advisers are explained so that they can be considered in the context of various situations throughout the study of taxes in this course. Interviews of five tax advisers, including a corporate tax director, an enrolled agent, and a CPA, are included to give students a more personal insight into these careers.

CHAPTER 7
This chapter introduces ten policies underlying the federal tax law and provides examples of each. Many of these examples are covered in more depth in later chapters. This chapter explores some of the constant reasons for many of the rules in the tax law and helps students to understand when a rule may be relevant in a particular business transaction.

CHAPTER 8
The tax formula is covered early in the text so that it is better understood how rules and concepts on income and deductions fit into tax effects and tax planning. This enables students to fully complete tax problems in later chapters.

CHAPTER 17
This chapter comparing different types of entities culminates prior discussions of entities-corporations, partnerships, and sole proprietorships. This final discussion of the topic is designed to leave students with a good understanding of which entity is most appropriate in different situations, the tax relationship between the entity and its owners, and how choice of entity impacts tax planning. The chapter is presented from the perspective of a tax adviser to provide further exposure to how the rules and concepts covered in this textbook are applied by tax and business advisers.

CHAPTER 18--Web-Based Chapter
This chapter, located at the Internet site for this text, explores the future of federal and state tax systems. It serves many purposes: To entice students to continue their study of taxation; to better prepare them to understand current tax news and enable them to participate in discussions and debates on these tax issues; and to better prepare students should major changes occur in the tax system, such as replacement of the current system with a flat tax. This chapter has been placed on the Internet so that it can be as current as possible. Where appropriate, portions of this chapter are also linked to the Internet materials for the 17 chapters included in the textbook.