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Income Tax Fundamentals 2025, 43rd Edition

Gerald E. Whittenburg, Steven Gill

Copyright 2025
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Income Tax Fundamentals 2025 43rd Edition by Gerald E. Whittenburg/Steven Gill

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Overview
Meet the Authors
What's New
Features
Table of Contents
Pricing

Overview

Introduce today's important areas of tax law with Whittenburg/Gill's INCOME TAX FUNDAMENTALS 2025, 43rd Edition. The practical workbook presentation takes a unique forms-based approach that has set the standard in tax education for over 30 years. Current examples and real tax forms present the latest tax laws. Updated end-of-chapter questions and online problems reinforce students' skills and understanding of the more complex aspects of tax law. This edition's tax return problems use source documents identical to those of real clients and provide extensive overlap with the federal tax education requirements for tax preparers in California, Oregon and Maryland. Each new edition utilizes Intuit® ProConnect™ tax software for further hands-on practice. CNOWv2's online learning platform and homework resources are also available to help you prepare students to become successful tax preparers.

Meet the Authors

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Gerald E. Whittenburg

As the original author of INCOME TAX FUNDAMENTALS, Dr. Gene Whittenburg was critical in designing the forms-based approach that has clarified and reshaped how students have learned income tax fundamentals for three decades. Although Dr. Whittenburg unexpectedly passed away in March of 2015, this edition continues to uphold his highest standard of publishing excellence. This edition furthers the insights and advancements that Dr. Whittenburg started in preparing learners to be successful tax preparers many years ago.

Steven Gill

Dr. Steven Gill is an associate professor in the Charles W. Lamden School of Accountancy at the Fowler College of Business at San Diego State University. He received a B.S. in accounting from the University of Florida (Gainesville, FL), an M.S. in taxation from Northeastern University (Boston, MA) and a Ph.D. in accounting (University of Massachusetts). Prior to entering academia, Dr. Gill worked for twelve years in the field of accounting, including roles in public accounting, internal audit, corporate accounting and, ultimately, vice president of finance. Dr. Gill's research interests include a concentration in taxation, including mutual funds and college savings ("529") plans and wider interests in tax compliance behavior. He has taught undergraduate and graduate courses and his teaching interests include taxation and both financial and managerial accounting. Dr. Gill ls co-author of FEDERAL TAX RESEARCH and INCOME TAX FUNDAMENTALS.

What's New

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The 2025 edition of this book covers the latest tax law changes, including over 90 new provisions from the SECURE 2.0 Act. It provides clear and concise explanations for both new and complex tax features, allowing preparers to anticipate and address changes affecting individual taxpayers in the future.
This edition incorporates the latest tax laws of 2024, including sweeping changes for the tax year. The author provides clear explanations for complex topics like the qualified business income deduction and bonus depreciation phase-out. It also covers temporary provisions and upcoming changes such as certain laws of the 2017 Tax Cuts and Jobs Act sunset in 2025.
Students have access to the latest Intuit® ProConnect™ software for the 2024 tax year, included with each new book. They can solve Individual Income Tax Return problems, utilizing features like tips, calculators and current tax information.

Features

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This edition provides overlap with the tax preparer education requirements. It covers federal tax provisions and concepts required by regulations for tax preparers in California, Maryland and Oregon, aiding students in states with tax preparer regulations.
Updated tax return problems include additional real-life source documents like Form W-2, 1099s, income statements and trial balances. This practical approach helps students prepare for real-world tax return preparation.
This edition's updated applications ensure students are practicing with the latest tax information available. Proven and new end-of-chapter questions, tax return problems and test bank problems all reflect the dozens of standard changes impacting tax preparation today.
Useful and convenient reference tools, including a particularly important Internal Revenue Code Sections and Quick Tax Reference Guide, highlight critical information such as the Tax Formula.

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1. The Individual Income Tax Return.
2. Gross Income and Exclusions.
3. Business Income and Expenses.
4. Additional Income and the Qualified Deduction.
5. Deductions For and From AGI.
6. Accounting Periods and Other Taxes.
7. Tax Credits.
8. Depreciation and Sale of Business Property.
9. Employment Taxes, Estimated Payments, and Retirement Plans.
10. Partnership Taxation.
11. The Corporate Income Tax.
12. Tax Administration and Tax Planning.
Appendix A: Tax Rate Schedules and Tax Tables.
Appendix B: Earned Income Credit Table.
Appendix C: Withholding Tables.
Appendix D: Additional Comprehensive Tax Return Problems.
Appendix E: Solutions to Self-Study Problems.
Appendix F: Blank Forms.
Glossary of Tax Terms.
Index.