Sold Out
Sold Out
Book Categories |
Preface | xvii | |
Chapter 1 | Is It Legal? | 1 |
Chapter 2 | How Our Tax System Works | 9 |
Chapter 3 | Exclusions--Tax-Free Money | 15 |
A | Alternatives to "Earned Income" | 17 |
1. | Hospitalization Premiums | 17 |
2. | Group Life Insurance Premiums | 18 |
3. | Group Legal Services Plans | 21 |
4. | Accident and Health Plans | 21 |
5. | Employee Death Benefits | 22 |
6. | Merchandise Distributed to Employees on Holidays | 22 |
7. | "Expenses of Your Employer" | 23 |
8. | Meals and Lodgings | 23 |
9. | Employee Discounts | 25 |
10. | Workers' Compensation | 25 |
11. | "Cafeteria" Plans | 26 |
12. | Dependent Care Assistance Program | 26 |
13. | Employer Educational Assistance | 28 |
14. | Employee Awards | 28 |
15. | Clergy Housing Allowance | 31 |
16. | Miscellaneous Fringe Benefits | 31 |
B | Donative Items | 32 |
17. | Gifts, Bequests, and Inheritances | 32 |
18. | Scholarships and Fellowships | 33 |
19. | Prizes and Awards | 36 |
C | Investors | 37 |
20. | Interest on State and Municipal Obligations | 37 |
D | Benefits for the Elderly | 38 |
21. | Public Assistance Payments | 38 |
22. | Social Security and Other Retirement Benefits | 38 |
23. | Annuities | 41 |
24. | Sale of Your Home | 44 |
E | Miscellaneous Individual Exclusions | 45 |
25. | Carpool Receipts | 45 |
26. | Damages | 46 |
27. | Divorce and Separation Arrangements | 48 |
28. | Life Insurance | 52 |
29. | Qualified State Tuition ([section]529) Programs | 54 |
30. | Your Home--The Mother of All Tax Shelters! | 64 |
F | Schedule of Excludable Items | 66 |
Chapter 4 | Credits--Dollar-for-Dollar Tax Reductions | 69 |
A | Estimated Tax and Withholding Exemptions | 70 |
B | Credits | 73 |
31. | The Earned Income Credit | 73 |
32. | Excess Social Security Tax | 76 |
33. | The Child and Dependent Care Credit | 77 |
34. | Child Care Credits for Children of Divorced or Separated Parents | 78 |
35. | Credit for the Elderly or Permanently and Totally Disabled | 84 |
36. | Credit for Interest Paid on Mortgage Credit Certificates | 86 |
C | Special Credits | 87 |
37. | Work Opportunity Credit (Formerly Targeted Jobs Tax Credit) | 87 |
38. | Welfare to Work Credit | 88 |
39. | Research Tax Credit | 88 |
40. | Orphan Drug Tax Credit | 88 |
41. | Adoption Assistance | 89 |
42. | Hope Scholarship Credit | 91 |
43. | Lifetime Learning Credit | 91 |
44. | Child Tax Credit | 91 |
45. | District of Columbia--First Time Homebuyer | 92 |
46. | Disability Credits | 93 |
47. | Health Insurance Credit | 93 |
48. | Saver's Credit | 94 |
49. | Small Employer Credit | 95 |
Chapter 5 | "Above the Line" Deductions | 97 |
A | Deductions for Adjusted Gross Income | 101 |
50. | Trade and Business Deductions | 101 |
51. | Employee Business Expenses of Actors and Other Performing Artists | 102 |
52. | Employee Business Expenses | 102 |
53. | Alimony | 103 |
54. | Interest on Qualified Education Loans | 111 |
55. | Retirement Plan Payments | 112 |
56. | Self-Employment Tax | 154 |
57. | Health Insurance Deduction for Self-Employeds | 155 |
58. | Moving Expenses | 155 |
59. | Clean Fuel Vehicles | 163 |
60. | Deduction for Qualified Higher Education Expenses | 163 |
Chapter 6 | "Below the Line" Deductions | 165 |
A | The Importance of Filing Status | 166 |
B | Tax Planning with Itemized Deductions | 171 |
61. | Medical Expenses | 171 |
62. | Income Taxes | 188 |
63. | Real Property Taxes | 189 |
64. | Personal Property Taxes | 191 |
65. | Interest | 191 |
66. | Charitable Contributions | 211 |
67. | Casualty Losses | 233 |
68. | Theft Losses | 237 |
69. | Miscellaneous Trade and Business Deductions of Employees | 245 |
70. | Travel Expenses | 246 |
71. | Transportation Expenses | 251 |
72. | Meals and Entertainment Expenses | 255 |
73. | Gifts | 256 |
74. | Reimbursable Employee Business Expenses | 258 |
75. | Educational Expenses | 258 |
76. | Limit on Itemized Deductions | 259 |
C | Schedules of Deductions | 260 |
77. | Medical Deductions | 260 |
78. | Deductible Taxes | 261 |
79. | Charitable Deductions | 262 |
80. | Casualty and Theft Loss Deductions | 263 |
81. | Miscellaneous Deductions | 263 |
82. | Employee Miscellaneous Deductions | 264 |
83. | Investor Deductions | 265 |
Chapter 7 | Traditional Tax Shelters | 267 |
A | Deferral and Leverage | 284 |
84. | Real Estate | 284 |
85. | Fees in Public Real Estate Partnerships | 297 |
86. | Oil and Gas | 297 |
87. | Equipment Leasing | 307 |
88. | Single-Premium Life Insurance | 311 |
89. | Cattle Feeding Programs | 315 |
90. | Cattle Breeding Programs | 317 |
91. | Tax Straddles | 319 |
92. | Art Reproduction | 321 |
93. | Noncash Gift Shelters | 322 |
94. | Municipal Bond Swaps | 323 |
B | How to Analyze a Tax Shelter | 324 |
95. | Getting Out of the Tax Shelter | 326 |
96. | Master Limited Partnerships | 327 |
97. | Abusive Shelters | 330 |
Chapter 8 | Super Tax Shelters | 331 |
A | Family Shifts | 332 |
98. | Unearned Income of Minor Children | 335 |
99. | Outright Gifts | 339 |
100. | Clifford Trusts | 343 |
101. | Interest-Free Loans | 344 |
102. | The Schnepper Shelter: Gift Leasebacks | 344 |
103. | The Schnepper Deep Shelter | 350 |
104. | Family Partnerships | 350 |
105. | Family Trusts | 351 |
106. | The Schnepper Malagoli Super Shelter | 352 |
107. | Employing Members of the Family | 354 |
108. | Author's Delight | 357 |
B | Running Your Own Business | 357 |
109. | Your Home | 361 |
110. | Your Car | 373 |
111. | Meals and Entertainment | 375 |
112. | Travel and Vacation | 379 |
113. | Gifts | 385 |
114. | Advertising | 386 |
115. | Deductible Clothes | 386 |
116. | Creative Deductions--Busting the IRS | 386 |
117. | Medical Premiums | 387 |
118. | Borrowing from Your Company | 387 |
119. | Lending to Your Company | 390 |
120. | Miscellaneous Corporate Advantages | 391 |
Chapter 9 | Investment Planning to Save Taxes | 395 |
121. | Short Sales | 400 |
122. | Broad-Based Index Options and Regulated Futures Contracts (RFCs) | 401 |
123. | Wash Sales | 402 |
124. | Premiums on Taxable and Tax-Exempt Bonds | 402 |
125. | Original Issue Discount (OID)--Taxable Bonds | 403 |
126. | Original Issue Discount (OID)--Tax-Exempt Bonds | 403 |
127. | Market Discount | 403 |
128. | Municipal Bond Swaps | 404 |
129. | Employee Options--Non-Qualified | 405 |
130. | Incentive Stock Options | 406 |
131. | Year-End Stock Sales | 410 |
132. | Fund Strategies | 410 |
133. | Dividends | 411 |
134. | Tax-Exempt Income | 413 |
135. | Special Report | 415 |
136. | Old Prices | 416 |
137. | Alternative Minimum Tax for Individuals | 416 |
138. | U.S. Savings Bond Exclusion | 428 |
Chapter 10 | Last-Minute Tax Planning | 431 |
139. | Defer Taxes | 432 |
140. | Accelerate Expenses | 434 |
141. | Accelerate Special Deductions | 435 |
142. | Dependents and Personal Exemptions | 435 |
143. | Phaseout of Exemptions | 439 |
144. | Timing Strategies | 439 |
145. | Retirement Plans | 440 |
146. | Individual Retirement Plans (IRAs) | 440 |
147. | H.R. 10 or Keogh Plans | 441 |
148. | Marital Status | 442 |
149. | The Goldinger Deferral | 443 |
Chapter 11 | The Attorneys' and Accountants' Relief Act of 1993 | 445 |
150. | Training and Investment Provisions | 447 |
151. | Investment Incentives | 448 |
152. | Expansion and Simplification of Earned Income Tax Credit | 449 |
153. | Real Estate Provisions | 449 |
154. | Miscellaneous Provisions | 451 |
155. | Revenue-Raising Provisions | 452 |
156. | Business Provisions | 458 |
Chapter 12 | Stealth Tax Reform | 461 |
157. | The New Taxpayer Bill of Rights | 462 |
158. | Personal Responsibility and Work Opportunity Reconciliation Act of 1996, HR 3734 | 466 |
159. | The Health Insurance Portability and Accountability Act of 1996, HR 3103 | 467 |
160. | The Small Business Job Protection Act of 1996, HR 3448 | 471 |
161. | Tax Relief for Bosnian Effort | 483 |
Chapter 13 | Tax Reform--Again! | 485 |
162. | The Mind-Numbing Complexity of the Tax Reconciliation Act of 1997, Also Known as the Taxpayer Relief Act of 1997 | 486 |
Chapter 14 | The Internal Revenue Service Restructuring and Reform Act of 1998 | 497 |
163. | IRS Reorganization | 498 |
164. | IRS Governance and Oversight Changes | 498 |
165. | Extension of Attorney-Client Privilege to Tax Advice | 500 |
166. | Burden of Proof Shifted to IRS in Certain Civil Tax Cases | 501 |
167. | Taxpayer Rights | 501 |
168. | Roth IRA Conversion/Loophole | 503 |
169. | Capital Gains | 503 |
170. | Venture Capital | 504 |
171. | Home Sales Clarification | 504 |
172. | Conclusion | 505 |
Chapter 15 | The Economic Growth and Tax Relief Reconciliation Act of 2001 | 507 |
173. | Marginal Rate Reductions | 508 |
174. | Tax Benefits Relating to Children | 513 |
175. | Marriage Penalty Relief Provisions | 514 |
176. | Education Incentives | 517 |
177. | Pension and Individual Retirement Arrangement Provisions | 521 |
178. | AMT Relief | 529 |
179. | Health Insurance for Self-Employed | 529 |
180. | Income Tax Treatment for Certain Restitution Payments to Holocaust Victims | 529 |
181. | Estate, Gift, and Generation-Skipping Transfer Tax Provisions | 530 |
182. | Sunset | 535 |
Chapter 16 | The Job Creation and Worker Assistance Act of 2002 | 539 |
183. | Bonus Depreciation | 540 |
184. | Net Operating Losses | 540 |
185. | Classroom Materials | 540 |
186. | Electric Vehicle Credit | 540 |
187. | Work Opportunity Tax Credit | 541 |
188. | Welfare to Work Tax Credit | 541 |
189. | Archer Medical Savings Account | 541 |
190. | Liberty Zone Benefits | 541 |
Chapter 17 | The Tax Relief Reconciliation Act of 2003 | 543 |
|