Taxes For Dummies 2005 cuts that down to size and helps you discover how the tax system works and how to legally make it work for you. Legally is a key word. Written by Eric Tyson, MBA, financial counselor, syndicated columnist, and bestselling author, and David J. Silverman, EA, tax advisor, it shows you how, through careful planning, you can minimize your taxes and still sleep at night. Organized and indexed so you can find what you need and ignore the rest, there is practical information about: - Recent changes even experienced filers need to know about
- Tax return preparation—using resources, software, digital filing, and/or getting professional help
- Graduating from the shoebox system to organized recordkeeping
- The basics—filing status, exemptions, when to file, and more
- The most common forms and schedules, including 1040EZ, 1040A, 1040, and Schedules A, B, C, D, E, and F (explained step-by-step and line-by-line)
- Income and adjustments to it
- Estimated taxes
That’s the information most people desperately need on April 14th. But the most valuable information is on tax planning—not tax filing. No matter what bracket you’re in, this is the part you shouldn’t ignore. It includes guidelines and advice on:
- Reducing taxes with retirement planning
- Small business tax planning
- Investment and taxes, including some types of tax-favored investments to avoid
- Real estate taxes, including information on buying a home, getting a mortgage, and selling a home
- Kids and taxes, including a caution about education savings accounts
- Estate planning (after all, with your new tax expertise, you may someday have an estate)
Just in case, there’s also information on correcting mistakes (yours or the IRS’s) and avoiding or surviving the dreaded audit. With Taxes for Dummies 2005, you’re prepared. It’s one of the least-taxing ways to get the information you need to file and to minimize your taxes.
