Federal Taxation Basic Principles[联邦税收的基本原则](-40).ppt

CCH Federal Taxation Basic Principles CCH Federal TaxationBasic PrinciplesChapter 4 Gross Income ?2003, CCH INCORPORATED 4025 W. Peterson Ave. Chicago, IL 60646-6085 800 248 3248 Chapter 4 Exhibits 1. Accounting Income 2. Economic Benefit Doctrine 3. Constructive Receipt Doctrine 4. Assignment of Income Doctrine 5. Compensation vs. Gift 6. Items Included in Gross Income 7. Prizes and Awards 8. Employee Achievement Awards 9. Scholarships and Fellowships 10. Below-Market Interest Loans—Types of Loans 11. Below-Market Interest Loans—Definitions 12. Below-Market Interest Loans—Tax Effect Chapter 4 Exhibits 13. Below-Market Interest Loans—Examples 14. Rent and Royalty Income 15. Tenant Improvements 16. Dividend Income 17. Pre-1985 Agreements 18. Post-1984 Agreements 19. Alimony and Child Support (Post-1984 Divorces) 20. Bankruptcy and Insolvency 21. Restricted Stock Plans 22. Incentive Stock Option Plans 23. Employee Stock Purchase Plans 24. Nonstatutory Stock Option Plans Accounting Income Income, from the accounting point of view, is the excess of revenues over the costs incurred in producing those revenues. The emphasis for the accountant is on completed transactions. All gains must be “realized” before they are includible in income. Accounting Income Accrual method—income is recognized when a transaction is consummated, even if cash or property has not yet been received. Cash method—income is recognized only when cash or property is received. Economic Benefit Doctrine This doctrine answers the question “What is income?” Any amount of compensation granted or paid to the individual for services rendered, be it cash, bonus, profit sharing, compensation in kind, or any ingenious method of payment, must be included in gross income. Gross income is defined under the Code as “all income from whatever source derived.” Thus, taxable income may consist of cash, receivables, property, land, or any other form of economic benefit. Co