Taxes and Business Strategy: A Planning Approach (3rd Edition) [Hardcover]

Myron S. Scholes (Author), Mark A. Wolfson (Author), Merle M. Erickson (Author), Edward L. Maydew (Author), Terrence J. Shevlin (Author)

Book Description

Publication Date: April 9, 2004 | ISBN-10: 0131465538 | ISBN-13: 978-0131465534 | Edition: 3

This book takes an MBA style strategy perspective by considering the tax, accounting, and finance trade-offs involved in tax planning. Reflected in this revision are all changes in the tax code. Also covered: extensive analysis of technical tax rules applied to corporate mergers and acquisitions; explanation of accounting for income taxes; discussion on College Savings Plans (529s); up-to-date material on new tax rates on dividends and capital gains; and much more. For individuals furthering their personal or formal education of tax strategy, investment banking, corporate finance, strategy consulting, money management, or venture capital.

Editorial Reviews

Review

"Well-thought-out and articulated analysis of key tax issues faced by today's investment bankers. This book will serve as a guide for any new Wall Street entrant or seasoned professional interested in developing more efficient structuring alternatives for clients." — Chad Holm, Lazard LLC

"I find SWEMS to be extremely valuable as a reference text. The authors do a terrific job highlighting important economic issues found in a multitude of tax-related transactions. The book is comprehensive and serves as a great starting point for countless tax issues. I recommend this book to any financial economist who is interested in taxes" — John Graham, Fuqua School of Business, Duke University

"A superb blend of tax accounting, economics, and corporate strategy delivered in a readable form by preeminent researchers and thinkers in the field. This book is an essential guide for those interested in using taxes as a tool to sharpen their overall corporate finance strategy. Unlike other books on tax accounting, the distinguishing feature of this book lies in its lucid economics-based analysis of taxes" — S. P Kothari, Sloan School, MIT

"Taxes and Business Strategy should be required reading for any private equity professional. Rife with examples, it is an easy-to-use guide that emphasizes the importance of effective tax planning in the business and investment decision-making process. The book is an instant classic, like Benjamin Graham's The Intelligent Investor, that forces the reader to rethink the art of the deal." — Jacobson, Vice President, Citigroup Private Equity

""Taxes and Business Strategy has been an important reference work since it was first published, and it gets better with each edition." — Eugene F. Fama, Robert R. McCormick Distinguished Service Professor of Finance, University of Chicago

""This book has led the way in unifying the way accountants and economists think about taxation. Academics of either stripe should digest its insights on how taxes affect business decisions, as should the people who actually have to make these decisions." — Joel Slemrod, University of Michigan

From the Publisher

Written from an economic decision-making perspective, this volume stresses the implications of tax rules for individual and firm behavior. --This text refers to an out of print or unavailable edition of this title.

See all Editorial Reviews

Product Details

• Hardcover: 576 pages
• Publisher: Prentice Hall; 3 edition (April 9, 2004)
• Language: English
• ISBN-10: 0131465538
• ISBN-13: 978-0131465534
• Product Dimensions: 9.4 x 7.2 x 1 inches
• Shipping Weight: 2.2 pounds (View shipping rates and policies)
• Average Customer Review: 4.7 out of 5 stars  See all reviews (6 customer reviews)
• Amazon Best Sellers Rank: #391,524 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

11 of 11 people found the following review helpful:

5.0 out of 5 stars Great Text For a Complex Subject, June 5, 2001

By A Customer

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This review is from: Taxes and Business Strategy: A Planning Approach (2nd Edition) (Hardcover)

As another reviewer states, the material for this book was used in the Taxes & Business Strategy class at both the University of Chicago and Stanford's business schools. Compared to other texts on this subject, it is actually readable and, more importantly, understandable to a non-tax professional. The are an abundance of examples that you can apply directly to situations which arise in real world situations. The 2nd edition has been updated to reflect most recent changes in the tax law.

The book is a must for anybody in investment banking, law, private equity, and other fields where a tax plays a large role in determining the outcome and structure of deals, compensation, etc.

10 of 11 people found the following review helpful:

5.0 out of 5 stars Solid treatment of material, June 8, 2001

By 

Richard Mason "happy duffer" (Reno, NV USA) - See all my reviews
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This review is from: Taxes and Business Strategy: A Planning Approach (2nd Edition) (Hardcover)

We used this book as the text for a masters level course in our masters of accouting program. Students responded well and appeared to enjoy the book. They found the treatment of the material to be at an apporpriate level, and they rated the book a five on a five point anonymous rating. The only suggestion they proferred was for some companion piece covering a few of the more currently used planning techniques.

12 of 14 people found the following review helpful:

4.0 out of 5 stars A good text, May 1, 2000

By A Customer

This review is from: Taxes and Business Strategy: A Global Planning Approach (Hardcover)

Excerpts of the text are used in the Taxes and Business Strategy course at the University of Chicago Graduate School of Business. Scholes and Wolfson have provided an excellent, multi-perspective framework for thinking about tax issues and how taxes can impact the value of a transaction. Unfortunately, S&W have been making too much money in the private sector to update this book so some of the details in the book regarding tax laws are dated.