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ISBN10: 0071836675 | ISBN13: 9780071836678
ISBN10: 0071836675
ISBN13: 9780071836678
ACKNOWLEDGMENTS xvii
CHAPTER 1: Tax Insanity 1
CHAPTER 2: Is It Legal? 31
CHAPTER 3: How Our Tax System Works 37
CHAPTER 4: Exclusions—Tax-Free Money 43
A Alternatives to “Earned Income” 45
B Donative Items 59
C Investors 65
D Benefits for the Elderly 66
E Miscellaneous Individual Exclusions 73
F Schedule of Excludable Items 103
CHAPTER 5: Credits—Dollar-for-Dollar Tax Reductions 105
A Estimated Tax and Withholding Exemptions 106
B Credits 109
C Special Credits
CHAPTER 6: “Above the Line” Deductions 143
A Deductions for Adjusted Gross Income 147
CHAPTER 7: “Below the Line” Deductions 231
A The Importance of Filing Status 232
B Tax Planning with Itemized Deductions 237
C Schedules of Deductions 328
CHAPTER 8: Traditional Tax Shelters 335
A Deferral and Leverage 350
B How to Analyze a Tax Shelter 390
CHAPTER 9: Super Tax Shelters 399
A Family Shifts 400
B Running Your Own Business 425
CHAPTER 10: Investment Planning to Save Taxes 463
CHAPTER 11: Last-Minute Tax Planning 505
CHAPTER 12: The Economic Growth and Tax Relief
Reconciliation Act of 2001 519
CHAPTER 13: The Job Creation and Worker Assistance Act of 2002 551
CHAPTER 14: The Tax Relief Reconciliation Act of 2003 555
A Rate Reductions 556
B The Marriage Penalty 557
C The Alternative Minimum Tax 557
D Child Tax Credit 558
E Dividends/Capital Gains 558
F Deduct Your SUV—Election to Expense 560
CHAPTER 15: Income Averaging and Hurricane Tax Breaks 565
CHAPTER 16: 2006 Tax Reform 571
A The Tax Increase Prevention and Reconciliation Act of 2005 572
B The Pension Protection Act of 2006 574
C Tax Relief and Health Care Act of 2006 577
CHAPTER 17: Tax Reform, 2007–2008 581
A The Mortgage Forgiveness Debt Relief Act of 2007 582
B The New Debt Relief Act 582
C The Economic Stimulus Act of 2008 584
D The Heroes Earnings Assistance and Relief Act of 2008 588
E The Housing and Economic Recovery Act of 2008 589
CHAPTER 18: 2009 Tax Changes 593
CHAPTER 19: More Tax Changes 603
A The Hiring Incentives to Restore Employment (HIRE) Act of 2010 604
B The Patient Protection and Affordable Care Act 605
C Small Business Jobs Act of 2010 608
D The Tax Relief, Unemployment Insurance Reauthorization,and Job Creation Act of 2010 610
E American Tax Relief Act of 2012 616
CHAPTER 20: How to Avoid/Survive an IRS Audit 621
APPENDIX A: Cost Recovery/Depreciation 737
APPENDIX B: Business Use of “Listed Property” 751
APPENDIX C: Auto Leases 763
INDEX
CHAPTER 1: Tax Insanity 1
CHAPTER 2: Is It Legal? 31
CHAPTER 3: How Our Tax System Works 37
CHAPTER 4: Exclusions—Tax-Free Money 43
A Alternatives to “Earned Income” 45
B Donative Items 59
C Investors 65
D Benefits for the Elderly 66
E Miscellaneous Individual Exclusions 73
F Schedule of Excludable Items 103
CHAPTER 5: Credits—Dollar-for-Dollar Tax Reductions 105
A Estimated Tax and Withholding Exemptions 106
B Credits 109
C Special Credits
CHAPTER 6: “Above the Line” Deductions 143
A Deductions for Adjusted Gross Income 147
CHAPTER 7: “Below the Line” Deductions 231
A The Importance of Filing Status 232
B Tax Planning with Itemized Deductions 237
C Schedules of Deductions 328
CHAPTER 8: Traditional Tax Shelters 335
A Deferral and Leverage 350
B How to Analyze a Tax Shelter 390
CHAPTER 9: Super Tax Shelters 399
A Family Shifts 400
B Running Your Own Business 425
CHAPTER 10: Investment Planning to Save Taxes 463
CHAPTER 11: Last-Minute Tax Planning 505
CHAPTER 12: The Economic Growth and Tax Relief
Reconciliation Act of 2001 519
CHAPTER 13: The Job Creation and Worker Assistance Act of 2002 551
CHAPTER 14: The Tax Relief Reconciliation Act of 2003 555
A Rate Reductions 556
B The Marriage Penalty 557
C The Alternative Minimum Tax 557
D Child Tax Credit 558
E Dividends/Capital Gains 558
F Deduct Your SUV—Election to Expense 560
CHAPTER 15: Income Averaging and Hurricane Tax Breaks 565
CHAPTER 16: 2006 Tax Reform 571
A The Tax Increase Prevention and Reconciliation Act of 2005 572
B The Pension Protection Act of 2006 574
C Tax Relief and Health Care Act of 2006 577
CHAPTER 17: Tax Reform, 2007–2008 581
A The Mortgage Forgiveness Debt Relief Act of 2007 582
B The New Debt Relief Act 582
C The Economic Stimulus Act of 2008 584
D The Heroes Earnings Assistance and Relief Act of 2008 588
E The Housing and Economic Recovery Act of 2008 589
CHAPTER 18: 2009 Tax Changes 593
CHAPTER 19: More Tax Changes 603
A The Hiring Incentives to Restore Employment (HIRE) Act of 2010 604
B The Patient Protection and Affordable Care Act 605
C Small Business Jobs Act of 2010 608
D The Tax Relief, Unemployment Insurance Reauthorization,and Job Creation Act of 2010 610
E American Tax Relief Act of 2012 616
CHAPTER 20: How to Avoid/Survive an IRS Audit 621
APPENDIX A: Cost Recovery/Depreciation 737
APPENDIX B: Business Use of “Listed Property” 751
APPENDIX C: Auto Leases 763
INDEX
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