Strategic Business Tax Planning,9780470009901

Strategic Business Tax Planning

by ;
Edition: 2nd
ISBN13: 9780470009901
ISBN10: 047000990X
Format: Hardcover
Pub. Date: 2006-10-20
Publisher(s): Wiley
List Price: $138.66

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Summary

Strategic Business Tax Planning, Second Edition is the definitive handbook on business tax planning, skipping the unnecessary and minute taxation details and focusing instead on the big picture in taxes. Organized around business processes, this reader-friendly guide shows you how to optimally put tax management principles to work in your business.

Author Biography

JOHN E. KARAYAN, JD, PHD, is a professor at California State Polytechnic University, Pomona. He is also a Partner at the law firm of Bond Karayan. Prior to his academic career, he was director of taxes at Informatics General Corporation (now Sterling Software); assistant tax counsel at The Parsons Corporations, and supervising specialist at Coopers & Lybrand (now PricewaterhouseCoopers). He is the Editor in Chief of the Journal of Interdisciplinary Studies as well as a member of the editorial review board (former associate editor) of Mid-Atlantic Journal of Business, Research in Healthcare Financial Management, and the Business Forum Journal.

CHARLES W. SWENSON, CPA, PHD, is Professor and Leventhal Research Fellow in the Marshall School of Business at the University of Southern California, where he has taught for the last nineteen years. He holds a joint appointment at the California Institute of Technology (Caltech). His practice experience includes PricewaterhouseCoopers and Deloitte & Touche. He is a member of the AICPA and the American Economics Association, and is a cofounder of the National Tax Credit Group, LLC.

Table of Contents

ABOUT THE AUTHORS V
ACKNOWLEDGMENTS XIII
INTRODUCTION XV
PART 1 Strategic Tax Planning 1(92)
CHAPTER 1 A Framework for Understanding Taxes
3(58)
How Are Taxes Important in Decision Making?
5(3)
Types of Taxes
8(22)
Basic Principles of Taxation
30(5)
Sources of Tax Laws
35(7)
Important Principles and Concepts in Tax Law
42(14)
SAVANT Framework
56(5)
CHAPTER 2 Using the SAVANT Framework to Guide Tax Planning
61(32)
Strategy
63(3)
Anticipation
66(6)
Value-Adding
72(11)
Negotiating
83(2)
Transforming
85(2)
Putting It All Together: SAVANT Concepts Illustrated
87(6)
PART 2 Forming the Enterprise 93(60)
CHAPTER 3 Choosing a Legal Entity: Risk Management, Raising Capital, and Tax Management
95(30)
Strategy
100(6)
Anticipation and Timing Issues
106(2)
Value-Adding
108(2)
Negotiating
110(2)
Transforming
112(4)
Putting It All Together: Applying SAVANT to Entity Choice
116(2)
Specialized Legal Forms
118(7)
CHAPTER 4 Financing a New Venture
125(28)
Internal Financing
126(3)
External Financing: Debt versus Equity
129(24)
PART 3 Operating the Firm 153(214)
CHAPTER 5 New Products: Development, Promotion, and Advertising
155(24)
New Products and Product Improvement
155(20)
SAVANT and Research and Development
175(4)
CHAPTER 6 Attracting and Motivating Employees and Managers: Company and Employee Tax Planning
179(34)
Executive Compensation
180(2)
Nonexecutive Employee Compensation
182(7)
Perquisites
189(2)
Pension and Profit-Sharing Plans
191(4)
Current and Deferred Compensation
195(1)
Limits on Deductibility on Executive Compensation
195(1)
Stock Options
196(6)
Management Bonus Plans
202(2)
Financial Statement/Finance versus Tax Strategy Trade-Offs
204(2)
Putting It All Together: Applying SAVANT to Executive Compensation
206(7)
CHAPTER 7 Market Penetration: Operating in Different States
213(28)
General Principles of State and Local Taxation
216(1)
Planning with Income Taxes: Manipulation of Plant, Workforce, and Point-of-Sale Locations
217(11)
Location Choice: Sourcing versus Production Platforms
228(2)
Distribution: Planning for Sales and Use Taxes
230(5)
Lobbying and Tax Abatements
235(2)
Trade-Offs with Local Tax Incentives: Infrastructure, Government Costs/Subsidies, and Other Local Costs
237(1)
Putting It All Together: SAVANT Applied to Market Penetration in Other States
237(4)
CHAPTER 8 Market Penetration: Company and Employee Tax Planning for Operating in Foreign Countries
241(48)
Some Basics on U.S. Taxation of Overseas Operations
241(3)
Some Basics on Taxation by Countries Other than the United States
244(1)
Tax Treaties
245(2)
Effective Tax Management
247(16)
Putting It All Together: Penetrating Foreign Markets from a SAVANT Perspective
263(26)
CHAPTER 9 Operations Management
289(4)
Production Design and Process Selection
269(4)
Inventory: Methods of Accounting and Includable Amounts
273(10)
Strategic Capacity Planning: Plant versus People
283(6)
Putting It All Together: Operations Management from a SAVANT Perspective
289(4)
CHAPTER 10 Financing Ongoing Operations and Tax Planning
293(26)
Operating Earnings
294(1)
Sale of Operating Assets
294(2)
Sale of Investments
296(2)
Short-Term Borrowing
298(1)
Accounts Receivable
299(1)
Decrease in Dividends
300(2)
Stock Dividends
302(1)
Stock Buybacks
303(2)
Using Employee Stock Ownership Plans
305(1)
Receipt of Dividends from Subsidiaries
306(6)
Putting It All Together: Financing Ongoing Operations from a SAVANT Perspective
312(7)
CHAPTER 11 Capital Budgeting
319(28)
Fixed Asset Acquisition
319(5)
Analysis from a SAVANT Perspective
324(8)
Putting It All Together: SAVANT Concepts Applied to Capital Budgeting
332(2)
Make or Buy Decisions
334(4)
Capital Budgeting and Plant Capacity
338(5)
Risk Considerations
343(4)
CHAPTER 12 Financial Statement Analysis and Proactive Tax Planning
347(20)
Segmental Analysis
347(3)
Other Tax Aspects in Segmental Analysis
350(6)
Strategic Analysis: Using Competitor's Tax Note and Segmental Data
356(11)
PART 4 Changing Original Form 367(74)
CHAPTER 13 Restructuring
369(22)
Financial Restructuring
369(3)
Financial Restructuring in the SAVANT Framework
372(3)
Business Restructuring
375(1)
Legal Entity Restructuring
376(6)
Divestitures in the SAVANT Framework
382(1)
Selling Off Parts of the Business
383(1)
Selling a Business to an Outside Entity
384(7)
CHAPTER 14 Mergers and Acquisitions
391(30)
Some General Tax Rules
393(1)
Tax-Free Mergers and Acquisitions
393(2)
Statutory Mergers and Consolidations
395(7)
Taxable Mergers and Acquisitions
402(3)
Tax Planning and Acquisition Costs
405(1)
Allocating Purchase Price
406(1)
Financial Accounting Trade-Offs
406(1)
Maximizing Tax Benefits
407(4)
Leveraged Buyouts
411(1)
Sources of Merger and Acquisition Finance
412(3)
Defensive Strategies
415(1)
Merger and Acquisition Activity and Scrutiny by Tax Authorities
416(1)
Putting It All Together: Merger and Acquisition from a SAVANT Perspective
417(4)
CHAPTER 15 Other Topics in Changing Original Form
421(20)
Use of Flow-Through Entities for Divestitures
421(4)
Use of Flow-Through Entities for Acquisitions
425(1)
Liquidations
426(6)
Buying a Subsidiary for Its Assets
432(5)
Fighting Off Takeover Attempts with ESOPs
437(2)
Bankruptcies
439(2)
APPENDIX A Basic Tax Research Skills 441(4)
Steps in the Research Process
441(1)
Sources of the Law
441(2)
Getting Answers to Simple Questions
443(2)
APPENDIX B Present Value Analysis: Lump Sums 445(6)
Annuities
447(2)
Uneven Cash Flows
449(2)
INDEX 451

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