Taxes are not just something to be considered in early April. This easy-to-follow guide, brought to you from the creators of the best-known personal investment site on the Internet, is filled with sound advice on minimizing taxes.
Book Description
Editorial Reviews
Amazon.com Review
Most tax guides these days are hundreds of pages long, resemble telephone books, and require two arms to carry. And unless you're an accountant, you probably need to refer only to a handful of pages to complete your return--and even then, you might feel like you've missed something. Which is probably what the Motley Fool realized when they put together The Motley Fool Investment Tax Guide. This guide is designed to do one thing--help investors get through the tax year. Written by Fools Selena Maranjian and Roy Lewis, this slim volume covers subjects such as the best time to sell stocks and other investments; how to make sense of mutual-fund distributions; when you should pay estimated taxes; and evaluating whether to opt for the traditional or Roth IRA. This book should complement any overall investment strategy and is a worthwhile read for every investor--and not just on April 14. --Harry C. Edwards
From the Back Cover
This is not your typical 500-page tax book, where you must search for the 20 pages that relate to your particular situation. Nor is it meant to help you just on the afternoon of April 15th. This is a book dedicated to help investors like you by providing the information that should be considered all year round, not just in April. Whether you're a novice investor or a seasoned veteran, this book will help you significantly reduce your tax payments. The Motley Fool specializes in explaining topics thought to be incomprehensible in an easy-to-understand and amusing manner. Let us demystify for you the inscrutable and esoteric world of investment-related tax issues -- and even give you a few chuckles along the way. This book will help you sail through tax-preparation season with minimal headaches and hassles, handing over as little as possible in taxes to Uncle Sam. Preparing your tax return shouldn't be a passive, one-day-a-year activity, where you just fork over whatever is required and try to get over your depression with a half-gallon of chocolate chip cookie dough ice cream. You can actually draw some satisfaction when dealing with your tax return, if you've planned an effective tax strategy and made smart decisions throughout the year. This book covers important topics that every investor needs to know:
*Avoiding selling stocks or other investments at the wrong time.
*What records you need to keep.
*Qualifying to exclude up to $500,000 in gains from any taxes.
*Making sense of mutual fund distributions, cost bases and accounting.
*Determining whether you're required to pay estimated taxes throughout the year (many investors fall in this category).
*Why you might want to transfer some of your stock holdings to your teenagers.
*Deductions you may be able to take for computer and online service expenses.
*Avoiding audits and how to deal with an audit if it happens.
*What recent tax law changes mean for you.
*Accounting for short sales, margin interest, and employee stock options.
*Evaluating whether the traditional IRA or the new Roth IRA makes the most sense for you.
*Avoiding selling stocks or other investments at the wrong time.
*What records you need to keep.
*Qualifying to exclude up to $500,000 in gains from any taxes.
*Making sense of mutual fund distributions, cost bases and accounting.
*Determining whether you're required to pay estimated taxes throughout the year (many investors fall in this category).
*Why you might want to transfer some of your stock holdings to your teenagers.
*Deductions you may be able to take for computer and online service expenses.
*Avoiding audits and how to deal with an audit if it happens.
*What recent tax law changes mean for you.
*Accounting for short sales, margin interest, and employee stock options.
*Evaluating whether the traditional IRA or the new Roth IRA makes the most sense for you.
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Most Helpful Customer Reviews
5 of 5 people found the following review helpful:
3.0 out of 5 stars
Great for the tax novice, or beginner,
By A Customer
This review is from: Motley Fool Investment Tax Guide : An Investor's Resource for Smart Tax Planning Throughout the Year (Paperback)
I was a great introductory to the basic tax issues to investors. It gives several tips that pay off immeadiately, and opens doors to things to consider and read further upon. It was a quick read, and easy to understand. A good followup, book is the 'Ernst & Young Tax Saver's Guide'.
5 of 5 people found the following review helpful:
2.0 out of 5 stars
I know the Fool tries to simplify things, but . . .,
By A Customer
This review is from: Motley Fool Investment Tax Guide : An Investor's Resource for Smart Tax Planning Throughout the Year (Paperback)
this is probably too simplified. I foolishly (note the lower case "f") assumed this book would be as great as the Fool's other publications, and never checked, say, the amount of pages the book has (the deal was too good . . .). I was a bit disappointed when all I got in the mail was a mere pamphlet. The IRS website is actually more helpful. Still, the book is an ok start to considering investment tax strategies, and will make the unknowing reader knowing enough to tackle more hefty guides.
3 of 3 people found the following review helpful:
5.0 out of 5 stars
Very Useful, Easy to Understand and Charmingly Written,
By A Customer
This review is from: Motley Fool Investment Tax Guide : An Investor's Resource for Smart Tax Planning Throughout the Year (Paperback)
As someone who began investing four years ago and began doing my own taxes just one year ago, I found this tax guide to be extremely informative. It is a quick and enjoyable read - perhaps an unsurpassed feat for a tax guide - with lots of helpful examples. This tax guide provided great tips for dealing with my taxes this year (i.e., what to do with that one worthless security) as well as numerous ideas for how to plan my investment strategies in the future. It also contained the most understandable explanation of the New Roth IRA that I have read this year. I highly recommend this tax guide to anyone who invests. I certainly feel more confident about preparing this year's tax return. Indeed, in a strange way I am almost looking forward to doing my taxes now.
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