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NOT IN USE - Custom ACTG694 Tax and Business Strategy (University of Montana)
by Erickson
ISBN: 0000000000 | Copyright 2022
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| Taxes and Business Strategy (pg. 1.3-1) | |
| Chapter 3: Returns on Alternative Savings Vehicles (pg. 1.3-1) | |
| 3.1 Intertemporally Constant Tax Rates (pg. 1.3-2) | |
| Review of Compound Interest (pg. 1.3-3) | |
| Investments in Savings Vehicles I and II (pg. 1.3-4) | |
| Hybrid Savings Vehicles (pg. 1.3-6) | |
| Differences in After-Tax Accumulations in Savings Vehicles I and II as a Function of Pretax Rates of (pg. 1.3-6) | |
| Investments in Savings Vehicle III (pg. 1.3-6) | |
| Comparison of Savings Vehicles II and III (pg. 1.3-7) | |
| Investments in Savings Vehicle IV (pg. 1.3-7) | |
| Investments in Savings Vehicle V (pg. 1.3-8) | |
| Investments in Savings Vehicle VI (pg. 1.3-9) | |
| Savings Vehicle VII (pg. 1.3-10) | |
| Dominance Relations and Summary Comments (pg. 1.3-11) | |
| 3.2 Changes in Tax Rates Over Time (pg. 1.3-12) | |
| 3.3 More on Pension Plans (pg. 1.3-13) | |
| Traditional Deductible IRAs (pg. 1.3-14) | |
| Nondeductible IRAs (pg. 1.3-14) | |
| Roth IRAs (pg. 1.3-14) | |
| Comparison of the Deductible and Roth IRAs-New Contributions (pg. 1.3-14) | |
| Comparison of the Deductible and Roth IRAs-the Conversion Decision (pg. 1.3-16) | |
| Summary of Key Points (pg. 1.3-18) | |
| Questions (pg. 1.3-19) | |
| Exercises (pg. 1.3-19) | |
| Tax-Planning Problems (pg. 1.3-21) | |
| References and Additional Readings (pg. 1.3-22) | |
| Chapter 5: Choosing the Optimal Organizational Form (pg. 1.5-1) | |
| 5.1 Organizational Forms for Producing Goods and Services (pg. 1.5-3) | |
| Data on Partnerships and LLCs (pg. 1.5-4) | |
| Data on Corporations (pg. 1.5-7) | |
| 5.2 Computation of After-Tax Returns To Pass-Through and Non-Pass-Through Forms of Organization (pg. 1.5-8) | |
| 5.3 Start-Up Enterprises: Decision Factors, Expectations, and Observed Data (pg. 1.5-11) | |
| 5.4 Changing Preferences for Organizational Forms Induced by Tax-Rule Changes (pg. 1.5-13) | |
| The Required Before-Tax Rates of Return on Corporate and Partnership Activities (pg. 1.5-13) | |
| The Required Rate of Return on Stocks in the Presence of Dividends (pg. 1.5-15) | |
| The Effective Annualized Tax Rate on Shares: ts (pg. 1.5-16) | |
| Required Before-Tax Rate of Return: Corporations versus Partnerships: R*c (pg. 1.5-17) | |
| Post TRA 1986 (1987, 1988-1990) (pg. 1.5-18) | |
| Further Analysis of the 2003 Tax Act (pg. 1.5-19) | |
| The TCJA, Changing Organizational Form, and Tax Planning (pg. 1.5-22) | |
| Progressive Personal Income Tax Rates, tp and tcg (pg. 1.5-22) | |
| 5.5 Other Organizational Forms Through Which to Organize Production Activities (pg. 1.5-22) | |
| Summary of Key Points (pg. 1.5-24) | |
| Appendix 5.1: Dividend Imputation in the Corporate Form (pg. 1.5-25) | |
| Appendix 5.2 (pg. 1.5-27) | |
| Questions (pg. 1.5-28) | |
| Exercises (pg. 1.5-29) | |
| Tax-Planning Problems (pg. 1.5-29) | |
| References and Additional Readings (pg. 1.5-31) | |
| Chapter 7: Nontax Costs of Tax Planning (pg. 1.7-1) | |
| 7.1 Symmetric Uncertainty, Progressive Tax Rates, and Risk-Taking (pg. 1.7-3) | |
| R&D and O&G Activities (pg. 1.7-4) | |
| Progressive Tax Rates and Hedging (pg. 1.7-6) | |
| 7.2 Tax Planning in the Presence of Risk-Sharing and Hidden-Action Considerations (pg. 1.7-6) | |
| Contracting in Capital Markets (pg. 1.7-6) | |
| Contracting in Labor Markets (pg. 1.7-8) | |
| Conflicts between Risk-Sharing and Tax Minimization (pg. 1.7-9) | |
| Conflicts between Incentive Contracting and Tax Minimization (pg. 1.7-9) | |
| 7.3 Tax Planning in the Presence of Hidden-Information Considerations (pg. 1.7-10) | |
| 7.4 Tax Planning and Organizational Design (pg. 1.7-11) | |
| 7.5 Accounting for Income Tax Basics and the Importance of Financial Accounting Outcomes in Tax Pla (pg. 1.7-12) | |
| Accounting for Corporate Income Taxes-Rules and Disclosure Example (pg. 1.7-14) | |
| Examples of Temporary Differences (pg. 1.7-17) | |
| Examples of Permanent Differences (pg. 1.7-19) | |
| Interpreting Income Tax Expense Disclosures (pg. 1.7-20) | |
| Example Illustrating Corporate Income Tax Disclosures (pg. 1.7-21) | |
| FIN 48 Accounting for Uncertain Tax Benefits (pg. 1.7-25) | |
| Example of Actual Corporate Disclosure (pg. 1.7-27) | |
| Evidence About the Importance of Financial Accounting Income (pg. 1.7-37) | |
| Book-Tax Trade-off: Income Shifting across Time (pg. 1.7-37) | |
| Book-Tax Trade-off: LIFO/FIFO Studies (pg. 1.7-37) | |
| Regulatory Costs (pg. 1.7-38) | |
| Asset Divestitures (pg. 1.7-39) | |
| Dollar Estimates of Firms’ Willingness to Forgo Tax Savings (pg. 1.7-39) | |
| Survey Evidence and Anecdotes of Lobbying Activity (pg. 1.7-39) | |
| Cash Effective Tax Rates (pg. 1.7-40) | |
| Implications of Large Book-Tax Differences (pg. 1.7-42) | |
| Summary of Key Points (pg. 1.7-43) | |
| Questions (pg. 1.7-44) | |
| Exercises (pg. 1.7-50) | |
| Tax-Planning Problems (pg. 1.7-51) | |
| References and Additional Readings (pg. 1.7-52) | |
| Chapter 8: Compensation Planning (pg. 1.8-1) | |
| 8.1 Salary Versus Deferred Compensation (pg. 1.8-2) | |
| Employer and Employee Tax Rates Both Expected to Fall (pg. 1.8-5) | |
| 2012 Tax Planning with Deferred Compensation Plans (pg. 1.8-5) | |
| 2017 TCJA Tax Planning with Deferred Compensation Plans (pg. 1.8-5) | |
| Summary of Deferred Compensation Plans (pg. 1.8-6) | |
| 8.2 Salary Versus Fringe Benefits (pg. 1.8-6) | |
| Employer-Provided Meals (pg. 1.8-7) | |
| 8.3 Cash Bonus Plans (pg. 1.8-7) | |
| 8.4 Stock-Based Compensation Components (pg. 1.8-8) | |
| Restricted Stock (pg. 1.8-8) | |
| Employee Tax Rates Expected to Rise (pg. 1.8-11) | |
| Long-Term Performance Awards (pg. 1.8-12) | |
| Employee Stock Options and Stock Appreciation Rights (pg. 1.8-13) | |
| Tax Issues Relating to Incentive Stock Options and Nonqualified Stock Options (pg. 1.8-14) | |
| NQOs versus ISOs (pg. 1.8-15) | |
| Evidence on the Role of Taxes in the Choice of ISOs (pg. 1.8-19) | |
| Disqualifying Dispositions of ISOs (pg. 1.8-19) | |
| The Role of Taxes in the NQO Exercise Decision (pg. 1.8-21) | |
| Financial Accounting and Tax Comparison of Restricted Stock, Performance Share Awards, Stock Appreci (pg. 1.8-24) | |
| Other Differences between Restricted Stock and SARs, PSAs, and ESOs (pg. 1.8-27) | |
| Empirical Evidence on the Usage of the Different Long-Term Compensation Instruments (pg. 1.8-28) | |
| Compensation in Venture-Capital-Backed Start-Ups (pg. 1.8-28) | |
| Limits on Deductibility of Executive Compensation (pg. 1.8-29) | |
| Concluding Remarks (pg. 1.8-30) | |
| Summary of Key Points (pg. 1.8-30) | |
| Appendix 8.1: Accounting for the Tax Benefits of Employee Stock Options (pg. 1.8-31) | |
| Questions (pg. 1.8-35) | |
| Exercises (pg. 1.8-36) | |
| Tax-Planning Problems (pg. 1.8-38) | |
| References and Additional Readings (pg. 1.8-39) | |
| Chpater 9: Pension and Retirement Planning (pg. 1.9-1) | |
| 9.1 Types of Pension Plans (pg. 1.9-1) | |
| 9.2 A Comparison of Salary and Pension Compensation (pg. 1.9-4) | |
| Rates of Return on Investments in and out of Pension Accounts (pg. 1.9-6) | |
| Antidiscrimination Rules (pg. 1.9-6) | |
| 9.3 Deferred Compensation Versus Pension (pg. 1.9-7) | |
| 9.4 The Stocks-Versus-Bonds Puzzle (pg. 1.9-8) | |
| 9.5 Does It Pay to Maintain an Overfunded Pension Plan? (pg. 1.9-11) | |
| Advantages and Disadvantages (pg. 1.9-11) | |
| Empirical Evidence on Determinants of Defined Benefit Plan Pension Funding (pg. 1.9-14) | |
| 9.6 Funding Post-Employment Health Care Benefits (pg. 1.9-14) | |
| The Sweetened Pension Benefit Approach (pg. 1.9-15) | |
| The Pay-as-You-Go Approach (pg. 1.9-16) | |
| Other Factors Relevant to the Funding Decision (pg. 1.9-17) | |
| 9.7 Employee Stock-Ownership Programs (pg. 1.9-18) | |
| Summary of Key Points (pg. 1.9-19) | |
| Questions (pg. 1.9-21) | |
| Exercises (pg. 1.9-21) | |
| Tax-Planning Problems (pg. 1.9-22) | |
| References and Additional Readings (pg. 1.9-25) | |
| Chapter 10: Multinational Tax Planning (pg. 1.10-1) | |
| 10.1 Fundamental Issues in International Tax (pg. 1.10-1) | |
| 10.2 Increasing Pressures on Tax Systems Posed by Cross-Border Commerce (pg. 1.10-2) | |
| 10.3 Overview of International Taxation (pg. 1.10-4) | |
| Operating as a Branch, Partnership, or a Foreign Subsidiary (pg. 1.10-5) | |
| Foreign Tax Credits and the Participation Exemption (pg. 1.10-5) | |
| Country-by-Country FTC Limitations (pg. 1.10-7) | |
| Separate Basket Limitations (pg. 1.10-8) | |
| 10.4 Base Erosion and Income Shifting Across Countries (pg. 1.10-8) | |
| Transfer Pricing (pg. 1.10-8) | |
| Subpart F Income and Controlled Foreign Corporations (CFCs) (pg. 1.10-9) | |
| Congress BEATs the (allegedly) GILTI (pg. 1.10-9) | |
| Individuals Avoiding U.S. Taxation (pg. 1.10-10) | |
| 10.5 How Taxes Affect the Location and Structure of Investments (pg. 1.10-11) | |
| A Tax Holiday for Repatriations (pg. 1.10-12) | |
| Inversion Transactions (pg. 1.10-12) | |
| Summary of Key Points (pg. 1.10-15) | |
| Questions (pg. 1.10-16) | |
| Exercises (pg. 1.10-16) | |
| References and Additional Readings (pg. 1.10-18) | |
Merle Erickson
Merle Erickson is Professor of Accounting at the Booth School of Business at the University of Chicago.
Professor Erickson has taught “Taxes and Business Strategy” in the Booth MBA program for more than twenty years. Erickson earned a bachelor's degree in accounting from Rockhurst College in 1987, an MBA in 1989 from Arizona State University, and a PhD in accounting from the University of Arizona in 1996. He joined the Chicago Booth faculty in 1996.
He has published numerous articles in a variety of top academic journals (e.g., Journal of Accounting Research, The Accounting Review, Journal of Accounting and Economics,). He has been given several awards from the American Taxation Association for his research and teaching. He has received the Outstanding Manuscript Award (twice) as well as an award for teaching innovation. He also has been named one of BusinessWeek's Outstanding Faculty at the University of Chicago. He is the author/editor of the casebook, Cases in Tax Strategy. In addition to teaching graduate students at Chicago Booth, Erickson has taught courses to Morgan Stanley, Merrill Lynch, General Electric Capital Corporation, Baker McKenzie, Andersen Consulting, Accenture, CareerBuilder, and the IMCA (Investment Management Consultants Association) among others. From 2005-2011, he served as a co-editor of the Journal of Accounting Research.
Over the course of his career, Erickson has consulted on complex GAAP and tax accounting issues (e.g., debt versus equity, FIN 48 and ASC 740 related issues, intercompany accounting and consolidation, employee stock option accounting) in a variety of contexts (e.g., bankruptcy, mergers and acquisitions, inversions, structured finance, investment planning, cross border and intercompany financing, tax sharing agreements, and various types of tax advantaged transactions). His clients have included, among others, the U.S. Department of Justice, the Internal Revenue Service, Fortune 500 companies in various industries, international financial institutions including investment banks, law firms, accounting firms, and individual taxpayers.
In addition to his scholarly activities, Erickson is an avid fisherman. He received the Angler Award from the Billfish Foundation in 2003 for releasing the most striped marlin worldwide that year.
| Taxes and Business Strategy, 6e (Erickson, Hanlon, Maydew, Shevlin) | |
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Errata Last Updated: Nov 5 2021 |
Corrections to identified errors in the text. |
