Where there's trade, there's taxation. And more often than not these days, that means United States taxation. Essentials of United States Taxation clearly explains basic structural features and accounting issues, corporate and partnership taxation, and the rules governing international transactions, both inbound and outbound. It provides concise, accurate answers to such questions as:
What is the US tax treatment of mergers and acquisitions? How are joint ventures and other hybrid entities taxed in the United States? How does the US foreign tax credit work? What are the most tax-beneficial ways to form a business in the United States? How can special profit and loss allocations under US partnership law be used in international transactions? The only easily readable overview of the subject available, this book is useful in two different ways. Reading it cover to cover provides a crystal-clear `picture' of the US tax system, yet the book is also of great value as a quick reference when a US tax problem needs to be solved. Numerous real-life examples make specific provisions of the US tax system easily understandable even to readers with no background in the subject.
