Book Description
Wouldn't you love to abolish the IRS. . . .
Keep all the money in your paycheck. . . .
Pay taxes on what you spend, not what you earn. . . .
And eliminate all the fraud, hassle, and waste of our current system?
If so, the FairTax is for you!
A smash #1 New York Times bestseller from the moment it went on sale, The FairTax Book launched a massive grassroots movement across the country with its dramatic call to rid Americans of the punishing burden of income tax. Talk-radio firebrand Neal Boortz and Congressman John Linder are leading the charge to replace the current tax system with the FairTax -- a simple 23 percent retail sales tax on new goods and services that would eliminate the reviled IRS and replace it with a system that's fair to all -- while jump-starting the U.S. economy, bringing businesses and jobs back to our shores, and recapturing billions of untaxed dollars currently lost to criminal and offshore businesses. Americans would get to keep 100 percent of their hard-earned paycheck . . . and April 15 would become just another beautiful spring day.
Endorsed by scores of leading economists -- and gaining momentum in both the House and the Senate -- the FairTax Plan could revolutionize the way America pays for itself. Here -- revised and updated, with a new afterword by the authors -- is the straight-talking book that started it all.
Download Description
"
Wouldn't you love to abolish the IRS ...
Keep all the money in your paycheck ...
Pay taxes on what you spend, not what you earn ...
And eliminate all the fraud, hassle, and waste of our current system?
Then the FairTax is for you. In the face of the outlandish American tax burden, talk-radio firebrand
Neal Boortz and Congressman
John Linder are leading the charge to phase out our current, unfair system and enact the FairTax Plan, replacing the federal income tax and withholding system with a simple 23 percent retail sales tax on new goods and services. This dramatic revision of the current system, which would eliminate the reviled IRS, has already caught fire in the American heartland, with more than six hundred thousand taxpayers signing on in support of the plan.
As Boortz and Linder reveal in this first book on the FairTax, this radical but eminently sensible plan would end the annual national nightmare of filing income tax returns, while at the same time enlarging the federal tax base by collecting sales tax from every retail consumer in the country. The FairTax, they argue, would transform the fearsome bureaucracy of the IRS into a more transparent, accountable, and equitable tax collection system. Among other benefits, it will:
- Make America's tax code truly voluntary, without reducing revenue
- Replace today's indecipherable tax code with one simple sales tax
- Protect lower-income Americans by covering the tax on basic necessities
- Eliminate billions of dollars in embedded taxes we don't even know we're paying
- Bring offshore corporate dollars back into the U.S. economy
Endorsed by scores of leading economists and supported by a huge and growing grassroots movement, the FairTax Plan could revolutionize the way America pays for itself. In this straight-talking book,
Neal Boortz and
John Linder show you how it would work -- and how you can help make it happen.
"
Customer Reviews:
For everyone.......2007-10-06
Yes, it's a book on economics and taxes, but Mr. Boortz helps to make it an entertaining and easily understood book. While it pretty much explains the theory of the fair tax in full and is a great place to start, it's a good idea to do your own research into the fair tax, studying the pros and cons. Just be sure that you understand the basics, or else you may get confused by anti-fair tax information that gets an idea wrong or blatantly lies...
The Cure for a Disease Known as Income Taxes.......2007-10-03
In this book, Boortz and Linder discuss the abolishment of the income tax. Under this system, wages would not be taxed at all. As an alternative to raise revenue for the government, they propose a national sales tax. The goal is revenue neutral so that same amount of revenue would be collected to run the government.
This would allow the individual to choose when they paid tax. So those who save and invest money rather than spending all of it, would come out much better.
The proposed sales tax rate would be around 23%. While this may sound high, one should keep in mind that no tax would have been withheld from his or her paycheck. For example, say that the average household income for America which is approximately $40,000 a year were not taxed. This would mean the Joneses get to take home all $40,000 of that hard earned income. As it stands today, they are probably only taking home around $32,000 assuming a 20% income tax rate and not considering state, Social Security, or Medicare taxes.
As a component of the national sales tax, they propose that a certain poverty level determination of say $10,000 which would be considered the bare minimum for a person to survive on and each person would receive a "prebate" of $2,300 per year paid in monthly installments. This would significantly help those on the low end of the income spectrum and actually result in additional money to spend on essentials such as food, clothing, and housing. It would also avoid the potential disparities which could occur with a food exemption if the wealthy purchased steak and lobster or other such expensive food items.
Additionally, it would take many of the inefficiencies out of the current system in that each time there is a touch on producing a good or service, income tax is charged. For example, when you buy a loaf of bread, the business who produced the seeds, the farmer who grew the wheat, the mill, the bakery, the trucking company, and the grocery store all pay income tax on their portion of the bread production. By taking the income tax away, the loaf of bread would subsequently be much cheaper (estimated around 25%) from the reduction of built in income tax for a product. (This assumes that businesses will not pay income tax. There would be many rules set up to prevent people setting up "businesses" to evade taxes.)
The Fair Tax also has the benefit of helping prevent tax evasion. Under the current system, there are millions upon millions of dollars of unreported income every year which are not taxed. This could occur in anything from illegal trades such as selling drugs on the street to the legal trades of wait staff or any industry in which cash is used to pay for goods or services but not reported. Every time these dollars were spent by the individuals, however, they would be taxed so this revenue which is currently lost would be collected.
It would additionally get rid of the estimated $265 billion spent annually to comply with the tax code. This is not to mention the 100s of thousands of hours that would be freed up to engage in more productive and enjoyable pursuits.
Economists estimate that in the first year of its implementation the economy would grow by 10.5%. Foreign companies would also have incentive to build factories in the U.S. to take advantage of the eliminated inherent cost included as mentioned in the bread example.
I think that this is a really great idea and hope that it is implemented one day. To learn more about it and see if your congressperson supports it or not, go to FairTax.org.
Fair Tax.......2007-09-29
Excellent reading to get yourself ready to defend the concept when it is attacked by the tax and spend crowd in Washington. It is a quick read and makes a great deal of sense.
A plan for the rich (1.5 *s).......2007-09-23
If you want a fundamental principle of government/society discussed with right-wing, shock-radio bluster, this is your book. Though a congressman is the co-author, the book is simply a continuation of the rant that has been heard daily on a local radio station in Atlanta for over thirty years. We learn early in the book that the passage of the Sixteenth Amendment in 1913 enabling the collection of income taxes is akin to the devastation of Pearl Harbor or the destruction of the World Trade Center on Sept 11, 2001. The IRS is no less than the enemy of the people, fulfilling a Marxian prophecy. You get the general idea.
One would like to think that anyone proposing a fundamental overhaul of our taxation system would first lay out a philosophy of taxation, which must be consistent with a broader philosophy of society and government. You won't find that in this book. The principal author has consistently exhibited a decided lack of social concern and understanding.
The so-called fair-tax is a twenty-three percent consumption tax in lieu of apparently all other federal level taxes: income, dividends, social security, Medicare, corporate, etc. [State taxes don't seem to be addressed.] It has long been held that the wealthy in a nation should pay taxes at a higher rate than ordinary citizens. The wealthy benefit far more than most from government. In fact they have a huge advantage over the rest of us by having an overwhelming say in the choice of those who occupy governmental offices and the consequent setting of policies and decisions. In essence, the rich get richer. They should pay for that largesse.
Consumption taxes are by far the most regressive of taxes that can be imposed. The median earner in this nation spends every dollar on necessary items. The rich do not. In fact a large portion of their income goes towards investments and wealth production. By exempting income, dividends, and interest from taxation, the so-called fair tax would simply exacerbate a tax scheme already weighted to the rich. The tax rate for the rich would plummet; for the poor suckers taken in by the fair-tax scheme, their tax rate would maximize.
The one thing that the book gets right is the necessity of changing the tax system. The loop holes for the rich are disgraceful. The idea that corporations don't really pay taxes is certainly a reality. The book complains about class warfare, not about the one that the powerful have been waging for decades. But the one where the ordinary citizen wants the powerful to get the boot off of his or her neck. But then that merely reflects where the hearts of the author are.
The fair-tax scheme proposed is utterly useless. It seems to assume that consumption is definitive of life - there is no larger context with greater significance and ramifications. For example, issues of power. Usually schemes such as this get a bit of a spike in public interest when first proposed, appealing to ideologues and the ignorant. Fortunately, there usually is no staying power. The length of the attention spans is commensurate with the depth of the knowledge of those jumping on the bandwagon.
The Fair Tax book.......2007-09-15
This book is an absolutely necessary read for any taxpayer in the country. We must get Congress to pass the Fair Tax and get rid of the incideous income tax and the IRS! This book explains in every detail how to do it by enacting the Fair Tax! The book answers all the questions I had!
Average customer rating:
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West Federal Taxation 2007: Individual Income Taxes, Volume 1, Professional Edition (West Federal Taxation Individual Income Taxes)
William H. Hoffman ,
James E. Smith , and
Eugene Willis
Manufacturer: South-Western College/West
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West Federal Taxation 2007: Individual Income Taxes (with RIA Checkpoint and Turbo Tax Premier CD-ROM)
ASIN: 032439960X |
Book Description
WEST FEDERAL TAXATION: INDIVIDUAL INCOME TAXES, 2007 EDITION continues to set the standard in introductory tax. Its authors and editors stay on top of trends in both tax law and tax education, as a result, the 2007 EDITION is thoroughly up-to-date, current in its thinking, and pedagogically advanced! No other text is as effective at helping users master the ever-changing Individual Tax Code. It provides accessible, comprehensive, and authoritative coverage of the relevant tax Code and regulations as they pertain to the individual taxpayer, as well as coverage of all major developments in federal taxation. It also adheres to the recommendations of the Accounting Education Change Commission (AECC) and the American Institute of Certified Public Accountants (AICPA). Visit the Product Website at http://wft.swlearning.com.
Book Description
Lower Your Taxes-Big Time! helps you to legally and dramatically cut taxes by establishing yourself as independent contractors or businessperson-writing off everything from vacations to movies and plays, and receiving a subsidy of $5,000 or more from the IRS every year.
“Will put thousands of dollars in your pocket every year.”-Mark Victor Hansen, Co-creator,Chicken Soup for the Soul®
- Updated to reflect recent and upcoming changes in the U.S. tax law
- One of the top best tax books according to Entrepreneur magazine
Customer Reviews:
This will really save you money!.......2007-08-08
I am using the advice in this book (and have done some of them before). The thoughts and approaches are laid out logically and in an understandable fashion. A must read for ALL taxpayers.
LOWER YOUR TAXES-BIG TIME is easy to understand and structured to take full, legal advantage of deductions.......2007-07-07
The 2007-08 edition of LOWER YOUR TAXES-BIG TIME! Has been named one of the best tax guides for small businesses, so any library catering to small business owners seeking only a few select guides must have this reference. It comes from a CPA and former IRS attorney, has been updated to include the latest tax laws and changes, and covers everything from travel and home business expenses to taking advantage of fringe benefits and 'IRS bulletproofing' them to survive any auditor's eye. From income shifting and car expenses to considering the best corporate structure for a business, LOWER YOUR TAXES-BIG TIME is easy to understand and structured to take full, legal advantage of deductions often missed by small business owners.
Excellent tips.......2007-05-28
This book is very easy reading, and very informative. There are very helpful tips and suggestions. I would have liked some more specific examples.
review of lower your taxes bigtime.......2007-05-14
We recieved our book very quickley and in perfect condition.and are very pleased with the content of the book.
Lower Your Taxes.......2007-03-26
Found the information very well organized and sufficiently documented from an IRS / accountant perspective so that someone could easily communicate items to your personal accountant to make tangible tax savings.
Book Description
This bestseller is the only book on tax deductions specifically for residential landlords!
Named a "Top 10 Real Estate Book" by Robert Bruss, syndicated real estate columnist
If you own rental property, you should be taking advantage of the many tax write-offs available. Every Landlord's Tax Deduction Guide gives residential landlords the plain-English guide they need to save money on taxes -- without the services of a high-priced accounting firm.
This book explains how to maximize your deductions. Find out how to:
fill out IRS Schedule E
take real estate tax credits
figure out if an expense is a repair (deductible) or
an improvement (depreciable)
maximize your depreciation deductions
deduct losses arising from real estate ownership
keep proper tax records
deduct home office, travel, casualty losses - and much more
Every Landlord's Tax Deduction Guide is comprehensive yet easy to read, jam packed with interesting and relevant examples. The 3rd edition is completely updated for 2007 and reflects the latest tax information and numbers.
Download Description
"Every Landlord's Tax Deduction Guide gives small residential landlords - who can't afford to hire high-priced accounting or law firms - the guide they need to save money on taxes. Every Landlord's Tax Deduction Guide explains how to: · fill out the dreaded IRS Schedule E · determine whether an expense is a deductible repair or depreciable improvement · take real estate tax credits · maximize depreciation deductions · deduct losses arising from real estate ownership · keep proper tax records · deduct home office, travel, and entertainment expenses This book is comprehensive yet easy to read, and provides many interesting and relevant examples. It also covers other deductions landlords can take, including taxes, interest, casualty losses, expenses for professional services - and much more. "
Customer Reviews:
Wanna save money?.......2007-09-27
This book not only describes detailed info about valid tax write-offs, but also has an insight into how to think as a Landlord. As a first-time Landlord, the book put into perspective why a repair can sometimes be better than a replacement and why. Lots of really good info if you don't want to pay for an expensive accountant! Highly recommended!
Best friend at Tax time.......2007-07-06
I can't tell you how many times I've referenced this book. It is very easy to use and simply written, even if by lawyers! During tax time I have it right by my side, and it always seems to answer every quesion I have.
very easy and informative.......2007-05-08
Recently I purchased a rental property. I knew a little about tax deduction as a landlord. THis book gives you very detailed info and also gives you an examples after each topic so that you can understand how you can apply the info into your real life. I am not a very good reader, but I can easily read this book and understand.
Great item and transaction.......2007-01-09
Many thanks to the seller - the book was in great condition and I received it promptly
Absolutely Essential.......2006-10-31
I am a law student at Yale Law School and my husband is an attorney. We own and I manage about 5 rental properties. This book is absolutely essential for anyone owning a rental property. Do not depend on your accountant as a substitute as most accountants will not know this kind of detailed information about real estate rentals (unless they specialize in it or maybe have their own rentals.) My accountant who has been in practice over 20 years did not know a lot of essential stuff which I had to guide him through(it may be time for a new accountant). If I had not read this book I would have been doomed. Because I can qualify for the unlimited deduction (not just $25,000) for rental losses, we have literally saved tens of thousands of dollars in taxes we would have otherwise had to pay on my husband's salary, legally, with the guidance of this book. I cannot recommend this book highly enough. It is written in a very easy to understand format and gives you almost all the information you need in one place. You cannot rely on others to properly arrange your financial affairs in this specialized area. By reading this book you will know how to buy, finance, and repair properties in ways that produce the most effective tax benefits. Consider yourself lucky that you are aware this book is out there and purchase immediately if you own rentals.
Average customer rating:
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West Federal Taxation 2007: Individual Income Taxes (with RIA Checkpoint and Turbo Tax Premier CD-ROM)
William H. Hoffman ,
James E. Smith , and
Eugene Willis
Manufacturer: South-Western College/West
ProductGroup: Book
Binding: Hardcover
Corporate
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ASIN: 0324399618 |
Book Description
WEST FEDERAL TAXATION: INDIVIDUAL INCOME TAXES, 2007 EDITION is accessible, comprehensive, and authoritative in its coverage of the Tax Code and regulations pertaining to the individual taxpayer. Covering all major developments in federal taxation, there is no other text as effective at helping users master the ever-changing Individual Tax Code.
Book Description
Written by a team of tax specialists, J.K. Lasser’s Your Income Tax 2007 is the nation’s all-time top-selling tax guide. It’s filled with expert advice and guidance—including over 2,500 easy-to-follow tax tips and strategies—that will help you plan and file your 2006 tax return in the most efficient way possible.
Customer Reviews:
Excellent Income Tax Book.......2007-09-19
This book is a great resource and a must have for everyone, even tax professionals!!
Best in the Federal Tax Business.......2007-07-02
"JK Lasser's Your Income Tax 2007" is the best reference book for federal income taxes is the business. They have been publishing tax guides for 75 years. We first learned of this valuable resource when we saw it on an IRS auditor's shelf, many years ago. Since then when working in small public libraries it is the only tax guide purchased for the collection.
Of great value is their coding system: Filling tips-when and how, Planning Reminder gives the tax-payer suggestions for year-end tax strategies, Caution points out pitfalls to avoid, Law Alert indicates a recent change in the law, Court Decision signals new Tax Court rulings, and IRS Alert flags key rulings and announcements,not all rulings that affect the code come from the court-they maybe nothing more than a letter from the IRS. But these letters have influence within the department as to how an item is viewed as to its value as a deductible.
This is one of the big guys from which most smaller books have been devised. The volume is cumbersome as more and more information is packed into it, but it is easy to use with a fantastic index. We have include a diagram of the citation system in our book, because it helps the reader to understand the system of indexing. If it is used correctly you can go directly to the pertinent information for your situation.
Nash Black, author of "Taxes, Stumbling Blocks & Pitfalls for Authors 2007."
The Only Thing It Didn't Do Is My Taxes For Me.......2007-04-11
This is a remarkable series (if every year's book is as good as this one is. It really covers almost every situation with clear examples. Although I still had to seek professional advice concerning K1 forms, clear advice on limited partnerships inside an IRA was almost unavailable anywhere else, so I cannot fault Lasser too much.
Great resource.
Lassers Income Tax 2007.......2007-04-08
Very Good book for anyone doing taxes. Put into language for lay person or professional tax preparers.
Gerry.......2007-03-13
I have successfully used JK Lasser's for years. The information is accurate and user friendly. Now I can get it at a more reasonable price.
Book Description
Hundreds of Legal Deductions for eBay Sellers!
If you’re an online seller, take note: now you can reduce--or even eliminate--the taxes you pay using the insider tips in Tax Loopholes for eBay Sellers. You’ll discover hundreds of little-known, completely legal tax deductions and reporting tips that are unique to eBay and designed to benefit small business owners. Learn what the IRS is looking for when sorting out a real business from a hobby and why it matters.
You’ll get step-by-step advice on everything from setting up your business and getting a business license to creating a bookkeeping system. Use the power of eBay and the tax strategies in this book to increase your wealth, protect your assets--and lower your tax bill.
How much can you fit into your eBay tax loophole?
- Learn what the best tax-advantaged business structures are for your type of eBay business
- Get the free “The 9 Steps to Business Test” to see if your business measures up against IRS guidelines
- Identify and take advantage of hundreds of legal deductions for eBay business owners
- Determine how often you will prepare a sales and use tax report based on volume
- Set up a payroll system with the proper withholding deductions for all employees including yourself
- Create an accounting system to pay bills, input transactions, record sales, keep track of PayPal fees, and balance your business checkbook
Customer Reviews:
Keep tax man happy.......2007-06-14
Everyone needs to read this book that is operating an eBay business large or small.
An Amazing Book!!!.......2007-05-16
This book is THE book to get if you have any questions about setting up an eBay business. It doesn't matter if you're doing your business full-time, part-time, or just every now and then - this book is chock full of great ideas on how to set it up. The section on setting up your financial books is worth the price alone! Tax loopholes are made for business owners and you are only cheating yourself by not taking advantage of them. Stop reading this review and order the book NOW!
Not Much Help.......2007-04-06
This book is intended primarily for incorporated Ebay sellers or Ebay sellers who plan to incorporate. It is of limited value for small businesses that are privately owned and filing a Schedule C tax form. I do not recommend it.
eBay Tax Gude is a useful resource.......2007-02-22
For a large volume eBay seller this is a vauable resource. For the more casual seller who sells occasionally or has a smaller volume of sales it is probably not necessary. It is well organized and it is easy to find the tax topic you wish to address.
very helpful.......2006-11-02
As a new e-bay store owner, I was in need of some tax advice. This book gave me everything I needed to know about owning a small business on e-bay. I read it cover to cover the first time and still often refer to it. Highly recommended to anyone who may not know how tax laws work for e-bay sellers.
Book Description
Master tax law with INCOME TAX FUNDAMENTALS, 2007 Edition. With concise, practical, and current coverage of individual income tax preparation, this taxation text prepares you to understand tax law by using the building block approach with feedback at the end of each section. The text/workbook format saves you time by presenting material in easy-to-digest sections with self-checks, online quizzes and activities, multiple examples, and review problems.
Customer Reviews:
Income Tax Book.......2007-09-13
The item was delivered in a timely fashion and it was in excellent condition. I will most definitely look here first for my textbooks, I saved quite a bit of money than what they were charging in the school bookstore.
Thank you,
EXCELLENT!!!.......2007-03-08
I found the item was in excellent condition and was shipped with promptness. THANK YOU AMAZON!!!
Book Description
Strategies from an IRS insider for slashing taxes, maximizing legal deductions, avoiding audits, and more
Completely updated for all of the new 2005 and 2006 Tax Laws!
Through his years as an IRS tax attorney, Sandy Botkin discovered that most Americans could legally and dramatically cut their tax bills by establishing themselves as independent contractors or businesspersons. In Lower Your Taxes--Big Time!, fully updated for 2005 and 2006, Botkin explains how, outlining a straightforward program for writing off everything from family vacations to movies and plays, and receiving a subsidy of $5,000 or more from the IRS each and every year.
From tips for launching a business to strategies for audit-proofing a return, Lower Your Taxes--Big Time! is a gold mine of information for every frustrated taxpayer. Tax-cutting strategies include:
- How, why, and when to incorporate
- Fail-safe methods for deducting a home office and family car
- Simple but essential record-keeping tips
- Tax advantages of being a consultant,independent contractor, or independent businessperson
Customer Reviews:
An Outstanding Small Business Tax Planning Guide.......2007-07-23
This book is perfect for anyone who currently has (or is contemplating) a small business and wants a lot of general questions answered about business entity structuring, deductions, taxes, and more. It doesn't attempt to replace the need for professional legal or accounting advice. However, it does help you to become more informed about the issues, and that means you're better equipped to profitably steer your business. This book might be too basic for some people. However, it's extremely reader-friendly and is the ideal starting point for anyone who is unfamiliar with these topics. Save yourself some expensive legal and accounting fees by reading this book BEFORE you seek professional guidance in setting up your business or redefining your structure.
Not as useful as I thought.......2007-04-02
This book concentrates a lot on deductions you can make if you own a business. While there is a lot of useful information (and all legal if you keep abundant records), I was expecting more creative ways to lower taxable income.
little guy disaster.......2007-02-13
This book is geared to business people and not for the average individual. A lot of the tax saving strategies are fantasy too!!!!
It's alot easier to start a home-based business than you think!.......2007-01-12
This book is absolutely amazing! Great tips, awesome information, and everything backed up with references. You can get started with a home-based business (Watkins, Avon, etc) for next to nothing, and the money you save on taxes in one year should more than pay for the cost to get started with a familiar company. This info in this book can help you start saving tax dollars from day one.
Cindy
www.cindygrobert.com
Well-referenced.......2006-11-01
Much of this book does apply to me (a sole-proprietor). You can get a lot of the information from other sources, but this book does cram a lot into a fairly compact and easy to read format. Although the book is not exhaustive, it does have a benefit over many other tax books (including a couple of the NOLO tax guides): It cites the IRS rulings, private letters etc. that you would need to back up your tax strategies in the face of an audit. My accountant is only willing to claim deductions that he can justify to the IRS. The citations make this easy.
The book is not particularly well-organized, so you do need to read the whole thing to find specific tax deductions.
The book has saved me some money on taxes over the past couple years. In that respect, it has been a good investment. More importantly, it has suggested strategies for me going forward.
I will buy the new edition when it comes out.
Book Description
With tax laws constantly changing and existing regulations hidden in volumes of tax code, nothing related to taxes is easy to figure out. Businesses and individuals in every income bracket need expert advice that cuts through the IRS bureaucracy and shows them how to work within the system. In What the IRS Doesn't Want You to Know: A CPA Reveals the Tricks of the Trade, tax expert Martin S. Kaplan reveals critical strategies that the best CPAs use for their clients to file shrewd, legal, money-saving returns.
Filled with in-depth insights and practical advice, this book will help you answer such questions as:
- How can you approach the "new" IRS to maximize your tax return success?
- What are the latest IRS weapons?
- What are the biggest taxpayer misconceptions?
- What are the most commonly overlooked credits and deductions?
- How will new tax legislation affect you?
- How can outdated IRS technology benefit you?
- What forms should you never fill out?
From deciphering the Jobs and Growth Tax Relief Reconciliation Act of 2003 to understanding the personality of the IRS, What the IRS Doesn't Want You to Know will help you shape your tax strategies and stay on top of your current financial situation.
Download Description
A behind-the scenes look at how to get along with and stay ahead of the IRS
With tax laws constantly changing and existing regulations hidden in volumes of tax code, nothing related to taxes is easy to figure out. Businesses and individuals in every income bracket need expert advice that cuts through IRS bureaucracy. What the IRS Doesn't Want You to Know will help clear the air on this important issue. It explains the latest IRS targets and weapons, describes how to work with the personality of the IRS to get ahead, and dispels the biggest misconceptions taxpayers have about their returns. Readers will be introduced to the latest tax laws and learn about their rights as a taxpayer. To help readers avoid the most common taxpayer pitfalls, What the IRS Doesn't Want You to Know also examines taxes in relation to IRAs, refunds, gifts, and inheritances, and reveals what forms should never be filled out as well as how taxpayers are really targeted for audits.
Martin S. Kaplan (New York, NY) has been a certified public accountant for more than thirty years and is a member of Geller, Marzano Company, CPAs.
Customer Reviews:
Problems with the IRS.......2007-09-07
Kaplan does an in-depth job of outlining problems within the IRS structure. Like most tax writers, the information tends toward avoiding an audit. The chapter on misconceptions of tax information is exceptional and with 45 million self-employed tax payers this is a group who are subjected to frequent audits. This number is rising as companies are down sizing and young people skilled in computer technology enter to workforce as small business owners.
This is an older volume, published in 2003 and some of the material is dated. If there is one area impossible to keep current without annual installments it is federal taxes.
Good information to have if you are studying taxes, but as help for the individual seeking information in their particular area it is lacking.
Nash Black, author of "Taxes, Stumbling Blocks and Pitfalls for Authors 2007."
How to Beat the IRS.......2006-01-28
Keeping up with all the IRS rules and regulations can be a real hassle. The tax code keeps getting more and more complex every year, in spite of countless promises by politicians to "simplify" the system.
This book does give some useful tips on how to avoid taxes. It points out specific ways that you can legally reduce your tax burden, along with key mistakes to avoid, unless you like the idea of being audited.
This book is written in an outline format, with boldface and bulleted text throughout. This is helpful, for finding specific information. You can quickly turn to a chapter that interests you, and then narrow down your reading by looking for the sub- topic that interests you.
Thw way this book portrays the the American tax system might not sit too well with some people. The author talks about the IRS, not necessarily as a great, friendly institution, but not as something to take caution with, either. He paints a picture of the IRS as being a firm, but reasonable institution and points out that we should not fear the IRS at all. We all can think of many, many occasions where this has not been the case. The IRS has abused its authority in many instances, and many feel that some of its unethical actions are directly the result of political manipulation against enemies, like in the case of auditing of high- profile individuals. But this book avoids talking negative, making the IRS seem like an institution that is reasonable and accommodating.
This book shows the reader many ways to avoid taxes, and much of the advice is sound, but I found this book to be a yawner overall. It's one of those books that could be viewed as a reference book, or a reading book. However, if you try to read the book from cover to cover (it's more than 450 pages in length), don't be surprised if your eyelids seem to become very heavy after every few pages of reading. This isn't exciting material, and it can induce drowsiness quickly.
This book has been updated and revised many times to keep it current with the ever- changing tax laws. It's the type of book that becomes outdated very quickly, and needs constant revisions to keep up with the times. My edition is already a couple years old, and I can already see where the technology chapter is way behind.
This is an ok book to have around, as a reference guide to reducing taxes and complying with IRS rules. If you don't want to pay a tax professional and you enjoy the challenge of working on your own taxes, then this book could prove to be very beneficial. For everyone else, it will likely just sit on a shelf and collect dust. Buy it only if you feel that you really need it.
Insightful.......2002-06-07
I bought TaxCut software, then read this book, I end up with a tax professional to do my 2001 tax. I am glad I read this book though, I avoided making mistakes and I followed carefully to my tax attorney's advice. This book is informative and insightful.
Solid, up-to-date tax advice for 2002.......2002-03-28
Now available in a revised and updated eighth edition, What The IRS Doesn't Want You To Know: A CPA Reveals The Tricks Of The Trade is a compendium of solid, up-to-date tax advice for 2002. Chapters survey such topics as what the latest IRS targets are; ten ground rules one must never break to win with the IRS; the thirty-four greatest taxpayer misconceptions; commonly overlooked credits and deductions; what forms should never be filled out; new tax laws enabling an innocent spouse to get out of debt; how to plan IRA and pension plans; the latest taxpayer rights; and what IRS people are really like and how to work with them. What The IRS Doesn't Want You To Know is a highly practical book and strongly recommended reading for every taxpayer!
Incorporating? If so, this is a wonderful text!.......2000-02-22
My annual salary grew steadily each year since graduating from college in 1994. However, there was hardly any money to pay off my credit card bills and forget about nice vacations or investing! I'd had enough. I heard of IT jobs that paid $50/hr. (or more). One day I had a conversation with an IT contractor with 7 years experience. This man had incorporated his own business and suggested that I did for the tax benefits. However, he was not very articulate as to EXACTLY what benefits there were to incorporating. I had to know. So I purchased Marty Kaplan's 3rd edition in late 1997. On May 20, 1998 I paid a law firm $300 to formally incorporate my very own company. I was instanly a President!(I still get a kick out of my title!) I have been contracting ever since. I think that I would have been contracting whether I purchased this book or not. However, Marty Kaplan's book provided a detailed comparsion between the different types of businesses. (i.e. sole proprietorship, partnership, Limited Liability Company, C-Corporations, & S-Corporations) Marty explained the financial realities, that precious few people understand. These truths showed me the pros and cons to each business model. All the financial decisions that I made were based on the information I gleened from this book. I assure you that I am infintely better off today than I would be if I were still at my 1998 job. But, what's more is that I'm better off today than I would be if I had contracted as a "W2 employee." (which is much easier in the beginning!) It was Marty's text that enlightened me! Also, Marty speaks plainly about being audited - "...it may happen and don't panic." Marty is completely ethical. His text simply shows readers how to prevent raising red flags. (i.e. certain IRS forms have been found to be guaranteed red flags and Marty advises how to legitamately report those same expenses on the "right" forms) Marty provides excellent anecdotes that will help readers predict the IRS's behavior and steer clear of its wrath. Marty spends the remainder of the book showing you how to maximize your legitimate deductions while minimizing your tax liabity. This book paid for itself in a split second. Thank you Marty!
Books:
- The FairTax Book
- The House of Gucci: A Sensational Story of Murder, Madness, Glamour, and Greed
- The ICU Book, 3rd edition (ICU Book, 3E (Marino/ Lippincott))
- The Jurisprudence of the Iran-United States Claims Tribunal: An Analysis of the Decisions of the Tribunal
- The Land We Share: Private Property And The Common Good
- The Landlord's Survival Guide: How to Succesfully Manage Rental Property as a New or Part-Time Real Estate Investor
- The Offshore Solution
- The Oxford Companion to the Supreme Court of the United States
- The Secrets of the Power of Intention: Live Lecture (6-CD Set)
- This Moment on Earth: Today's New Environmentalists and Their Vision for the Future
Books Index
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