Tax Insight: For Tax Year 2012

ISBN-13: 9781430247371 / Angielski / Miękka / 2013 / 376 str.

M. Casey Murdock

Opis

Tax Insight: For Tax Year 2012 will teach you to take control of life s biggest expense taxes. In your lifetime, you will spend more money on taxes than on anything else. Despite that fact, you likely know the current prices of movies and milk but don t know what your marginal tax rate is. You know where to get the cheapest gallon of gas to save a buck or two, but you don t give a thought to the tax strategies you should be using right now that would save you thousands. Why? Is it too complicated and confusing? Too unpleasant? In Tax Insight, tax expert Casey Murdock opens up the world of taxes with amazing clarity and simplicity. As you will discover, you have within reachnumerous ways to reduce your taxes. With everyday language and real-life examples, Tax Insight will give you the keysto minimizing your tax burden. This book contains information you need even if you have a tax advisor or use a program like TurboTax. Tax professionals are busy and sometimes too cautious, and programs often miss opportunities for you to save money.It's also for those of all ages and income levels, including business owners. Tax Insight

• Breaks down the key components of taxes with ease and simplicity.
• Provides a roadmap to paying as little tax as possible.
• Helps you know if you should do it yourself or hire a professional.

While there are many encyclopedic books on taxes like J.K. Lasser s Your Taxes there aren t nearly enough that describe the tax code in plain language. Far more than a rehash of impenetrable IRS help documents, Tax Insights is organized the way most people think and presents ideas in clear, simple language. If you buy this book and take advantage of its advice, you will save money."

Spis treści

1. The Tax Code Demystified 
2. Key Components Defined     
3. Income     
4. Dependents and Filing Status     
5. The Tax Code Is Rigged    
6. Employment Income     
7. Retirement Income     
8. Other Sources of Ordinary Income     
9. Tax-Free “Unordinary” Income from Non-Investment Sources 
10. Tax-Free Investment Income   
11. Taxable Investment Income  
12. Deductions from Investment Income   
13. Education Investment Strategies   
14. Retirement Investment Strategies—The Basics   
15. Retirement Investment Strategies—Alternatives 
16. Business Taxation  
17. Business Use of the Home   
18. Travel Expenses   
19. Meals, Entertainment, and Gifts   
20. Employee Benefits  
21. Employing Family Members  
22. Depreciation
23. Real Estate Losses  
24. Real Estate Income and Deductions   
25. Second Homes and Vacation Rentals  
26. Medical and Dental Expenses  
27. Your Residence   
28. Your Children   
29. Charitable Contributions
30. Education Expenses  
31. The Alternative Minimum Tax  
32. Penalties and Interest  
33. Do It Yourself, or Hire a Professional?   
34. Tax Implications of Health Care Reform

O autorze

M. Casey Murdock is a professional tax preparer, a financial advisor, and an enrolled agent with the IRS. He has a passion for minimizing taxes. It s the kind of thing you have to see for yourself to really understand. When he s working through your tax situation, he becomes transformed as he dials down into the deepest, darkest depths of the U.S. Tax Code. The only thing Casey enjoys more than reducing taxes is explaining how it is done. In Tax Insight 2013 he masterfully takes the ultra-complexity of the tax code and makes it easy to understand, using stories, examples, and simple explanations that he has developed as he has worked with his own tax clients over the years.