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| About the Authors | |
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| Acknowledgments | |
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| Introduction | |
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| Strategic Tax Planning | |
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| A Framework for Understanding Taxes | |
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| How Are Taxes Important in Decision Making? | |
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| Types of Taxes | |
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| Basic Principles of Taxation | |
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| Sources of Tax Laws | |
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| Important Principles and Concepts in Tax Law | |
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| SAVANT Framework | |
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| Using the SAVANT Framework to Guide Tax Planning | |
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| Strategy | |
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| Anticipation | |
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| Value-Adding | |
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| Negotiating | |
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| Transforming | |
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| Putting It All Together: SAVANT Concepts Illustrated | |
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| Forming the Enterprise | |
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| Choosing a Legal Entity: Risk Management, Raising Capital, and Tax Management | |
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| Strategy | |
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| Anticipation and Timing Issues | |
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| Value-Adding | |
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| Negotiating | |
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| Transforming | |
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| Putting It All Together: Applying SAVANT to Entity Choice | |
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| Specialized Legal Forms | |
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| Financing a New Venture | |
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| Internal Financing | |
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| External Financing: Debt versus Equity | |
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| Operating the Firm | |
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| New Products: Development, Promotion, and Advertising | |
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| New Products and Product Improvement | |
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| SAVANT and Research and Development | |
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| Attracting and Motivating Employees and Managers: Company and Employee Tax Planning | |
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| Executive Compensation | |
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| Nonexecutive Employee Compensation | |
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| Perquisites | |
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| Pension and Profit-Sharing Plans | |
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| Current and Deferred Compensation | |
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| Limits on Deductibility on Executive Compensation | |
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| Stock Options | |
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| Management Bonus Plans | |
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| Financial Statement/Finance versus Tax Strategy Trade-Offs | |
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| Putting It All Together: Applying SAVANT to Executive Compensation | |
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| Market Penetration: Operating in Different States | |
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| General Principles of State and Local Taxation | |
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| Planning with Income Taxes: Manipulation of Plant, Workforce, and Point-of-Sale Locations | |
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| Location Choice: Sourcing versus Production Platforms | |
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| Distribution: Planning for Sales and Use Taxes | |
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| Lobbying and Tax Abatements | |
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| Trade-Offs with Local Tax Incentives: Infrastructure, Government Costs/Subsidies, and Other Local Costs | |
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| Putting It All Together: SAVANT Applied to Market Penetration in Other States | |
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| Market Penetration: Company and Employee Tax Planning for Operating in Foreign Countries | |
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| Some Basics on U.S. Taxation of Overseas Operations | |
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| Some Basics on Taxation by Countries Other than the United States | |
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| Tax Treaties | |
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| Effective Tax Management | |
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| Putting It All Together: Penetrating Foreign Markets from a SAVANT Perspective | |
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| Operations Management | |
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| Production Design and Process Selection | |
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| Inventory: Methods of Accounting and Includable Amounts | |
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| Strategic Capacity Planning: Plant versus People | |
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| Putting It All Together: Operations Management from a SAVANT Perspective | |
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| Financing Ongoing Operations and Tax Planning | |
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| Operating Earnings | |
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| Sale of Operating Assets | |
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| Sale of Investments | |
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| Short-Term Borrowing | |
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| Accounts Receivable | |
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| Decrease in Dividends | |
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| Stock Dividends | |
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| Stock Buybacks | |
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| Using Employee Stock Ownership Plans | |
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| Receipt of Dividends from Subsidiaries | |
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| Putting It All Together: Financing Ongoing Operations from a SAVANT Perspective | |
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| Capital Budgeting | |
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| Fixed Asset Acquisition | |
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| Analysis from a SAVANT Perspective | |
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| Putting It All Together: SAVANT Concepts Applied to Capital Budgeting | |
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| Make or Buy Decisions | |
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| Capital Budgeting and Plant Capacity | |
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| Risk Considerations | |
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| Financial Statement Analysis and Proactive Tax Planning | |
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| Segmental Analysis | |
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| Other Tax Aspects in Segmental Analysis | |
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| Strategic Analysis: Using Competitor's Tax Note and Segmental Data | |
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| Changing Original Form | |
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| Restructuring | |
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| Financial Restructuring | |
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| Financial Restructuring in the SAVANT Framework | |
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| Business Restructuring | |
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| Legal Entity Restructuring | |
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| Divestitures in the SAVANT Framework | |
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| Selling Off Parts of the Business | |
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| Selling a Business to an Outside Entity | |
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| Mergers and Acquisitions | |
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| Some General Tax Rules | |
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| Tax-Free Mergers and Acquisitions | |
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| Statutory Mergers and Consolidations | |
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| Taxable Mergers and Acquisitions | |
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| Tax Planning and Acquisition Costs | |
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| Allocating Purchase Price | |
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| Financial Accounting Trade-Offs | |
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| Maximizing Tax Benefits | |
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| Leveraged Buyouts | |
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| Sources of Merger and Acquisition Finance | |
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| Defensive Strategies | |
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| Merger and Acquisition Activity and Scrutiny by Tax Authorities | |
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| Putting It All Together: Merger and Acquisition from a SAVANT Perspective | |
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| Other Topics in Changing Original Form | |
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| Use of Flow-Through Entities for Divestitures | |
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| Use of Flow-Through Entities for Acquisitions | |
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| Liquidations | |
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| Buying a Subsidiary for Its Assets | |
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| Fighting Off Takeover Attempts with ESOPs | |
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| Bankruptcies | |
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| Basic Tax Research Skills | |
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| Steps in the Research Process | |
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| Sources of the Law | |
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| Getting Answers to Simple Questions | |
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| Present Value Analysis: Lump Sums | |
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| Annuities | |
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| Uneven Cash Flows | |
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| Index | |