- Full Description
Tax Insight: For Tax Year 2013 and Beyond 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 reach numerous ways to reduce your taxes. With everyday language and real-life examples, Tax Insight will give you the keys to 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.
What youll learnThis book will help you:
- Avoid paying even a penny more in taxes than you should.
- Avoid common tax strategies that could actually cost you more than they save.
- Capture all of the deductions and credits that you are due.
- Know whether to file your own return or hire a tax professional.
- Utilize the entire year to implement tax-reducing strategies.
- Understand the key components of the tax return and how they work together.
- Prepare for or survive an audit
- Use real estate or a small business to reduce your tax bill
Who this book is for
Tax Insight: For Tax Year 2013 and Beyond is for the frustrated taxpayerthe taxpayer who is frustrated by paying too much, frustrated by the complexity of the tax code, or frustrated because their CPA isnt proactively helping them pay fewer taxes. Tax Insight is the perfect book for the person who is looking for a straightforward, simple explanation of the tax-saving strategies that are within reach. In an easy-to-read, easy-to-understand narrative, Tax Insight gives readers a thorough understanding of the tax strategies that apply to them and the information they need to put those strategies to work.
- Table of Contents
Table of Contents
- The Tax Code Demystified
- Key Components Defined
- Dependents and Filing Status
- The Tax Code Is Rigged
- Employment Income
- Retirement Income
- Other Sources of Ordinary Income
- Tax-Free Unordinary Income from Non-Investment Sources
- Tax-Free Investment Income
- Taxable Investment Income
- Deductions from Investment Income
- Education Investment Strategies
- Retirement Investment StrategiesThe Basics
- Retirement Investment StrategiesAlternatives
- Business Taxation
- Business Use of the Home
- Travel Expenses
- Meals, Entertainment, and Gifts
- Employee Benefits
- Employing Family Members
- Real Estate Losses
- Real Estate Income and Deductions
- Second Homes and Vacation Rentals
- Medical and Dental Expenses
- Your Residence
- Your Children
- Charitable Contributions
- Education Expenses
- The Alternative Minimum Tax
- Penalties and Interest
- Do It Yourself, or Hire a Professional?
- Tax Implications of Health Care Reform
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