Income Tax in the USA
U.S. income tax
explained for non-tax people
click   Video Links   to access page with links
from tax videos on YouTube
   Income Tax in the USA
Updated for 2015  including Federal tax law and other rules through December 1, 2013, state tax rates, exemptions, and deductions.

Steve Fox explains U.S. income tax rules and concepts in plain language, with sometimes humorous examples. This book, updated for changes through December 1, 2013, covers the full range of Federal income tax, and provides an overview of many state rules. Income Tax in the USA is a must-have book for business people, investors, and advisers. The book provides context for the rules discussed without assuming the reader is an accountant or attorney. It discusses tax return reporting but does not provide line-by-line guidance on preparing tax returns.

Income Tax in the USA provides:

  • Concise, readable plain language
  • Detailed explanations of concepts and rules, with
  • Hundreds of easy, practical examples,
  • Handy reference tables,
  • Authoritative and well cited analyses, and
  • Comprehensive coverage of all major aspects of U.S. Federal and state income taxation,
  • A comprehensive glossary, and
  • A clickable index for ease of finding materials.

This is a true e-book, not just images of a printed book. The book provides many items not found in other e-books, including:

  • Tables you can actually read, with scalable type size (not just pictures of tables),
  • Updated Federal and state tax rates for 2013 and 2014, and Federal rates for 2015,
  • Comprehensive coverage of health care penalties and credits,
  • Details on capitalization requirements ("repairs regulations"),
  • Comprehensive discussion of how to compute cost of goods sold and track inventory,
  • Discussion of multiple asset accounts under MACRS depreciation rules,
  • Options for computing gain or loss on disposition of depreciable assets,
  • Tables of key state income tax items for all states,
  • In-context hot links to IRS forms, and
  • Explanations of U.S. rules for accounting for income taxes.
Stephen C. Fox, CPA Steve Fox, CPA, has been advising businesses and individuals on complex tax issues for over 35 years.  He was an international CPA firm tax director.  Steve developed the courses and teaches in the international tax program at Fairleigh Dickinson University.  His articles have been published in Journal of Taxation, Journal of Taxation of Investments, The Tax Adviser, and other professional journals.
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