J.K. Lasser's Your Income Tax 2008: For Preparing Your 2007 Tax Return (Paperback)

by J. K. Lasser Institute (Author)
Key Phrases: loss restrictions, charitable contribution deductions, product class, Lasser's Your Income Tax, Social Security, Tax Court (more...)

Editorial Reviews

Product Description
Navigating the ever-changing income tax landscape is no easy task. Each year, millions of taxpayers are affected by new IRS regulations, federal court decisions and amendments from congressional tax committees. This year alone, there are many important developments such as the AMT exemption, new parameters on charitable giving, as well as regulations on residential energy improvements. To make informed decisions about income taxes and the changes that impact your return, there’s only one guide that won’t lead you astray. J.K. LASSER’S YOUR INCOME TAX 2008 is a proven, accessible resource with important strategies, useful recommendations and of course, all the latest tax law changes.

Finding the new deductions and planning opportunities can be daunting but savvy taxpayers know they can rely on J.K. LASSER’S YOUR INCOME TAX 2008: For Preparing Your 2007 Tax Return to pinpoint and explain last minute changes they may have missed. Coverage of current tax law changes, both comprehensive and comprehensible is what the Lasser team of experts provides.

J.K. LASSER’S series of tax guides have been well received by professionals and consumers because they are authoritative, easy-to-use and concise. Here are some highlights:

• Form 1040 mapped to the section of the guide you need
• Line-by-line explanations and instructions for commonly used forms
• More than 2,500 easy-to-use tax planning tips and strategies
• Quick-reference section highlighting what’s new (good or bad) for 2007
• Key tax numbers for 2007 - the most important limits and maximums at a glance
• Special rules and strategies for the self-employed

From the Back Cover

Basics of Filing (Chap. 1) including:

Which form to file – Chap. 1 Filing as Head of Household – Chap. 1

Filing for your children – 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 Casualty Loss – Chap. 18

Charitable deductions – Chap. 14 Who is a dependent? – Chap. 21

How Much Tax Do You Owe? (Chaps. 22–27) 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. 28–39) including:

Tax-free residence sales – Chap. 29 Investing in securities – Chap. 30

Armed forces rules – Chap. 35 Tax credits for education – Chap. 33

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. 46–49) including:

Electronic filing – Chap. 46 Filing extensions – Chap. 46

IRS Audits – Chap. 48 Amended returns – Chap. 47

The Most Trusted Name in Tax For over 70 years, more than 39 million Americans have trusted J.K. Lasser to help them save money at tax time

J.K. Lasser can save you MORE money!

Visit www.jklasser.com today for:

• 365-day-a-year tax advice

• Tax planning strategies, whetheryou are ready to retire, buying a home, getting married, orplanning your estate

• Interactive forms and tools

• Free tax supplement

• ADDED BONUS: sign-up for FREEmonthly e-mail tax updates

Easy-to-Use Format Explains Complex Tax Laws

FILING TIPS and FILING INSTRUCTIONShelp you prepare your 2007 return

PLANNING REMINDERS highlight year-end tax strategies for 2007 and planning opportunities for 2008 and later years

CAUTIONS point out potential pitfalls toavoid and areas where you might expectIRS 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 andannouncements from the IRS

See all Editorial Reviews

Product Details

• Paperback: 816 pages
• Publisher: Wiley; 71 edition (November 2, 2007)
• Language: English
• ISBN-10: 0470137541
• ISBN-13: 978-0470137543
• Product Dimensions: 10.9 x 8.4 x 1.9 inches
• Shipping Weight: 2.8 pounds (View shipping rates and policies)
• Average Customer Review: 4.3 out of 5 stars See all reviews (14 customer reviews)
• Amazon.com Sales Rank: #236,699 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

3 of 3 people found the following review helpful:

5.0 out of 5 stars The Best Tax Guide For Self-Preparation, April 7, 2008

By	Robert I. Hedges - See all my reviews (TOP 100 REVIEWER)    (REAL NAME)

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.

3 of 3 people found the following review helpful:

5.0 out of 5 stars Excellent Form 1040 Resource Guide, January 7, 2008

By	B. Nixon "einerb" (huntsville, al USA) - See all my reviews (REAL NAME)

The first time I picked up a copy of this book was at the Public Library. I soon realized that I needed my own copy because it is such an excellent resource material to keep. Each year I look forward to having my own updated copy. I recommend it to anyone.

2 of 2 people found the following review helpful:

5.0 out of 5 stars Better than expected. Excellent tax source., April 18, 2008

By	J. Gossett "financial guy" (So. Calif.) - See all my reviews (REAL NAME)

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.