J.K. Lasser's Your Income Tax 2014: For Preparing Your 2013 Tax Return

J.K. Lasser's Your Income Tax 2014: For Preparing Your 2013 Tax Return

Author: J. K. Lasser | Language: English | ISBN: 1118734238 | Format: EPUB

J.K. Lasser's Your Income Tax 2014: For Preparing Your 2013 Tax Return Description

From the Back Cover

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Easy-to-Use Format Explains Complex Tax Laws

FILING TIPS and FILING INSTRUCTIONS help you prepare your 2013 return
PLANNING REMINDERS highlight year-end tax strategies for 2013 and planning opportunities for 2014 and later years
CAUTIONS point out potential pitfalls to avoid and areas where you might expect IRS opposition
LAW ALERTS indicate recent changes in the tax law and pending legislation before Congress
COURT DECISIONS highlight key rulings from the Tax Court and other federal courts
IRS ALERTS highlight key rulings and announcements from the IRS

Basics of Filing (Chap. 1) including:

Which form to file – Chap. 1
Filing for your children – Chap. 1
Filing as Head of Household – Chap. 1
Filing for married couples – Chap. 1

What Must You Report as Income? (Chaps. 2–11) including:

Fringe Benefits – Chap. 3

Capital gains & losses – Chap. 5

Traditional & Roth IRAs – Chap. 8

Rental Income – Chap. 9

What Deductions Can You Claim? (Chaps. 12–21) including:

Moving expenses – Chap. 12

Charitable deductions – Chap. 14

Casualty Loss – Chap. 18

Who is a dependent? – Chap. 21

How Much Tax Do You Owe? (Chaps. 22–28) including:

The AMT – Chap. 23

Your child's tax – Chap. 24

Personal tax credits – Chap. 25

Estimated taxes – Chap. 27

Strategies to Save You Taxes (Chaps. 29–39) including:

Tax-free residence sales – Chap. 29

Investing in securities – Chap. 30

Tax credits for education – Chap. 33

Armed forces rules – Chap. 35

Planning Ideas for Your Business (Chaps. 40–45) including:

Home office deduction – Chap. 40

Keogh, Simple, or SEP – Chap. 41

Auto expenses – Chap. 43

Self-employment tax – Chap. 45

Now That You're Done (Chaps. 46–48) including:

Electronic filing – Chap. 46

Filing extensions – Chap. 46

IRS Audits – Chap. 48

Amended returns – Chap. 47

About the Author

J.K. Lasser Institute has been the premier publisher of consumer tax guides since 1939, when Jacob Kay Lasser first published Your Income Tax. Since then, the guide has been published continuously for over seventy years and read by over 39,000,000 people. The J.K. Lasser Institute also publishes several personal finance books, including Small Business Taxes, Home Owner's Tax Breaks, 1001 Deductions and Tax Breaks, Year-Round Tax Planning, and more. J.K. Lasser Institute spokespeople are regularly sought after as media tax experts. They regularly appear on such broadcast programs as CNBC, CNN, and Bloomberg TV. They are also often featured in numerous periodicals, including The Wall Street Journal, USA Today, Self Magazine, The New York Times, Newsweek and Reader's Digest.

Product Details
Table of Contents
Reviews

Series: J.K. Lasser
Paperback: 848 pages
Publisher: Wiley; 4 edition (October 28, 2013)
Language: English
ISBN-10: 1118734238
ISBN-13: 978-1118734230
Product Dimensions: 10.9 x 8.3 x 1.4 inches
Shipping Weight: 2.6 pounds (View shipping rates and policies)

What's New for 2013 xxv

Key Tax Numbers for 2013 xxix

Tax-Saving Opportunities xxxi

FILING BASICS 1

Do You Have to File a 2013 Tax Return? 3

Filing Tests for Dependents: 2013 Returns 4

Where to File 5

Filing Deadlines (on or before) 6

Choosing Which Tax Form to File 8

1 Filing Status 9

REPORTING YOUR INCOME 31

2 Wages, Salary, and Other Compensation 33

3 Fringe Benefits 50

4 Dividend and Interest Income 72

5 Reporting Property Sales 97

6 Tax-Free Exchanges of Property 139

7 Retirement and Annuity Income 154

8 IRAs 188

9 Income From Real Estate Rentals and Royalties 227

10 Loss Restrictions: Passive Activities and At-Risk Limits 244

11 Other Income 272

CLAIMING DEDUCTIONS 293

12 Deductions Allowed in Figuring Adjusted Gross Income 295

13 Claiming the Standard Deduction or Itemized Deductions 304

14 Charitable Contribution Deductions 312

15 Itemized Deduction for Interest Expenses 336

16 Deductions for Taxes 352

17 Medical and Dental Expense Deductions 359

18 Casualty and Theft Losses and Involuntary Conversions 377

19 Deducting Job Costs and Other Miscellaneous Expenses 401

20 Travel and Entertainment Expense Deductions 415

21 Personal Exemptions 441

PERSONAL TAX COMPUTATIONS 455

22 Figuring Your Regular Income Tax Liability 457

23 Alternative Minimum Tax (AMT) 461

24 Computing the "Kiddie Tax" on Your Child’s Investment Income 469

25 Personal Tax Credits Reduce Your Tax Liability 475

26 Tax Withholdings 491

27 Estimated Tax Payments 498

28 Additional Medicare Taxes 504

TAX PLANNING 511

29 Tax Savings for Residence Sales 513

30 Tax Rules for Investors in Securities 528

31 Tax Savings for Investors in Real Estate 546

32 Tax Rules for Investors in Mutual Funds 559

33 Educational Tax Benefi ts 567

34 Special Tax Rules for Senior Citizens 585

35 Members of the Armed Forces 594

36 How To Treat Foreign Earned Income 601

37 Planning Alimony and Marital Settlements 612

38 Household Employment Taxes ("Nanny Tax") 619

39 Gift and Estate Tax Planning Basics 624

BUSINESS TAX PLANNING 633

40 Income or Loss From Your Business or Profession 635

41 Retirement and Medical Plans for Self-Employed 663

42 Claiming Depreciation Deductions 673

43 Deducting Car and Truck Expenses 690

44 Sales of Business Property 704

45 Figuring Self-Employment Tax 711

FILING YOUR RETURN AND WHAT HAPPENS AFTER YOU FILE 719

46 Filing Your Return 721

47 Filing Refund Claims, and Amended Returns 733

48 If the IRS Examines Your Return 737

2013 TAX TABLE AND EIC TABLE 749

Form 1040 751

Schedule A 753

Schedule B 754

Dividend and Capital Gains Worksheet 755

2013 Tax Table 756

Tax Computation Worksheet 768

2013 EIC Table 769

GLOSSARY 779

INDEX 785

J.K. Lasser’s Your Income Tax 2014

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. First read the “What’s New for 2013”.

Part 1 “Basics of Filing” discusses filing status. Part 2 “What Must You Report as Income?” discusses wages, salary, other compensation; fringe benefits; dividend and interest income; reporting property sales, tax free exchanges of property; retirement and annuity income; IRA’s; income from rents and royalties, loss restrictions; other income. Part 3 “What Deductions Can You Claim?” discusses deductions allowed for adjusted gross income; standard or itemized deductions; charitable contribution deductions; itemized deductions for interest; deductions for taxes; medical and dental expenses; casualty and theft losses; job costs and miscellaneous expenses; travel and entertainment expenses; personal exemptions. Part 4 “How Much Tax Do You Owe?” tells how to figure your taxes; AMT; “Kiddie Tax” on child’s investment income; personal tax credits; tax withholding; and estimated tax payments.

Part 5 “Strategies to Save You Taxes” Chapters 29 through 39 should be read by everyone.

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