Contents

ContentsPrefaceLegislative UpdatexvxixPART ONEINTRODUCTION TO THE TAX LAW OF CHARITABLE GIVINGChapter One Charitable Giving Law: Basic Concepts 31.1 Introduction to the Charitable Deduction 31.2 Defining Tax-Exempt Organizations 41.3 Principles of Charitable Organizations Law Philosophy 71.4 Statistical Profile of Charitable Sector 191.5 Categories of Tax-Exempt Organizations 25Chapter Two The United States Tax System: An Overview 272.1 Concept of Income 282.2 Gross Income 292.3 Exclusions from Income 302.4 Concept of Adjusted Gross Income 302.5 Deductions 312.6 Standard Deduction 332.7 Concept of Taxable Income 332.8 Taxable and Nontaxable Entities 342.9 Annual Accounting Period 362.10 Accounting Method 362.11 Timing 362.12 Property 372.13 Inventory 382.14 Gain 402.15 Tax Treatment of Income 45Because of the rapidly changing nature of information in this field, this product will be updatedwith annual supplements or with future editions. Please call 1-877-762-2974 or email us atsubscriber@wiley.com to receive any current update at no additional charge. We will send on approval anyfuture supplements or new editions when they become available. If you purchased this product directlyfrom John Wiley & Sons, Inc., we have already recorded your subscription for this update service.