session1(18页).pdfVIP

Objectives and Game Plan �Provide an overview of the class �Provide some background on tax policy and the economics of taxation �Outline the key points of “Scholes-Wolfson” framework 15.518 Fall 2002 Session 1 What is 518? �MBA-Style Tax Strategy Course �Blend of tax law, corporate finance, and microeconomics �Birth-to-death approach with a focus on some high value- added applications (e.g., international, MA) �We will, however, also address some high-level issues to understand the economics of taxation and the underlying principles of the U.S. tax system �We will address the taxation of individuals only to the extent they intersect with corporate topics or are useful to illustrate certain topics 15.518 Fall 2002 Session 1 What is 518? �What we will cover • Corporate formation • Compensation • Investments and operations • Restructuring • Multijurisdictional tax planning 15.518 Fall 2002 Session 1 Some big picture questions �Who levies taxes? �Why do we tax? �What do we tax? �How do we tax? �What are the effects of taxes? �Who pays taxes? 15.518 Fall 2002