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|  | | | Customer Reviews: | | | Average Customer Review:
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 Seems one of the best May 02, 2009
Maybe if I were an accountant, I'd give this four or five stars. But for me it is written for someone that knows a lot more than I do. It is overkill -- too complicated for me to buy again. My tax situation is simple, but the book has so much, complated situations, etc., that it is limited in usefullness for me. I wish Lasser would write a book for people like me -- not so knowledgeable and with a situation requiring only the basics, plus some buying and selling of mutual funds and stocks. Tax software is adequate for me.
1 of 1 found the following review helpful:
 Taxpayer's Reference Guide Dec 13, 2008
There are two reasons to read this book.
1) You are preparing a paper return and wish to learn more that what is printed in the IRS "Forms and Instructions".
2) You want to read and learn more than what you get from a tax preparer or computer program.
Since your economic activities have tax consequences you should read or browse the relevant sections of this book as it applies to you. Some ignore the tax consequences until its too late. Since most people don't have tax lawyers, and may not be able to get advice on a telephone, or even from the Internet, you need to reference this book as needed. Do not be afraid of the size of this book as most people will not need all chapters.
Chapter 1 covers your "Filing Status". Chapters 2 to 11 covers taxable wages, salary, other compensation; fringe benefits, dividend and interest income; property sales, Tax-Free exchanges of property; retirement and annuity income; IRAs; rents and royalties, loss restrictions; other income. Chapters 12 to 21 covers deductions for adjusted gross income; standard or itemized deductions; charitable contributions; interest deductions; taxes; medical expenses; casualty and theft losses; job costs and miscellaneous expenses; travel and entertainment expenses; and personal exemptions. Chapters 22 to 27 explain how to compute your taxes; tax credits and withholding. Chapters 28 to 31 tell about Tax Planning and Savings. Chapters 31 to 39 explain areas that the average person seldom needs. Chapters 40 to 45 has important subjects for the self-employed. Chapters 46 and 47 tell about filing your return, refund claims, and amended returns. [The easiest way to fill in a 1040X is to fill in the new 1040 and then copy the information to the 1040X.] Chapter 48 offers hints in case the IRS examines your return so you may be informed and prepared. Page 724 tells about "Suing the IRS for Unauthorized Collection"!
To learn about the history of US tax policy you'll need an economic history book. Today's income taxes fall more heavily on wage earners compared to the less complex 1862, 1893, and 1916 income tax codes. They had a relatively simple form as well. Class and sectional differences make politics, and politics make the tax code. Special interests continue to complicate the tax code.
1 of 1 found the following review helpful:
good refrence Sep 05, 2008
a nice addition even if you have a tax prgram...sometimes its easier to find things here as they have a good refrence in the back.
2 of 2 found the following review helpful:
Better than expected. Excellent tax source. Apr 18, 2008
Contains a lot of useful information with sufficient detail. I've been using Master Tax Guides by CCH, but I found some items (e.g. Related Parties Passive Real Estate Loss treatment) in Lasser's that the CCH book didn't cover sufficiently. Excellent resource and well written.
3 of 3 found the following review helpful:
The Best Tax Guide For Self-Preparation Apr 07, 2008
I normally use TurboTax to file my income tax returns (this year I used TurboTax Premier), but always buy J. K. Lasser's "Your Income Tax" as there is always some question that comes up about the returns. This year was no different.
I have modestly complex returns, and this year was more complicated than normal. I had a complex transaction in which some compensation was taken as company stock, which subsequently depreciated and was sold. TurboTax had no clue how to handle it (it actually turned out to be easier than I thought), but Lasser came through, albeit with a little digging.
In all honesty I could probably do without the book as TurboTax is getting better, and the IRS web site is becoming more user-friendly, but I find that for the very modest price, the value of having nearly every answer at my fingertips overwhelms the potential savings from doing without it.
J. K. Lasser provides excellent examples and preparation tips for even complex returns, and I truly believe that if this book doesn't contain the answers to your questions you need professional tax help. I highly recommend this book as the best of the tax preparation guides.
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