NOT IN USE - Custom ACTG694 Tax and Business Strategy (University of Montana)
by Erickson
ISBN: | Copyright 2022
Instructor Requests
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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 teaches “Taxes and Business Strategy” at Booth and has taught the course for more than twenty-five years. He has published numerous articles in a variety of top academic journals, and from 2005-2011, he served as a co-editor of the Journal of Accounting Research.
Over the course of his career, he has consulted on complex GAAP and tax accounting issues (e.g., debt versus equity, accounting for mergers, acquisitions and divestitures [e.g., spin-offs, leveraged partnerships, reverse Morris Trust transactions]) in a variety of contexts (e.g., bankruptcy, various private equity transactions, tax receivable agreements, tax sharing agreements, shareholder disputes, partnership and LLC arrangements, 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, private equity firms, law firms, accounting firms, and individual taxpayers. He has also assisted corporations with SEC, IRS and whistleblower investigations.
Prior to entering academia, he assisted the U.S. Government in its prosecution of the Lincoln Saving & Loan case. He subsequently published an academic article and teaching case relating to the audit failure associated with the Lincoln Saving & Loan case. That teaching case has been used by the Big 4 to train junior auditors.
He
has been given several awards for his research and teaching. 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 IWI
(Investments and Wealth Institute) among others. He was named one of
BusinessWeek's Outstanding Faculty at the University of Chicago. He is the
faculty director of the Booth Mergers and Acquisitions course for Executives,
and is the also the faculty director of the Booth Certified Private Wealth
Advisor (CPWA) program.
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.
In addition to his scholarly activities,
Erickson is an avid fisherman. His angling pursuits have taken him from the
pristine wilderness lakes of northern Canada to some of the remotest stretches
of the Great Barrier Reef. He received the Angler Award from the Billfish
Foundation in 2003 for catching and 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. |
