The book’s focus comes from integrating the tax law with the fundamentals of corporate finance and microeconomics. Through integration with traditional business school topics, the book provides a framework for understanding how taxes affect decision making, asset prices, equilibrium returns, and the financial and operational structure of firms. Relative to legal-based tax books, this text focuses more on the economic consequences of alternative contracting arrangements than on the myriad details and exceptions of the tax laws governing the arrangements. It is not meant to imply that the details of the tax laws are unimportant; they certainly are important. In fact, students new to tax law will find that this text provides them with significant tax legal knowledge in certain key areas where taxes play a big role in decision making and areas that business school graduates are likely to encounter in their careers (e.g., mergers and acquisitions, employee compensation, international tax).