Taxes For Dummies 2005 [Paperback]

Eric Tyson (Author), David J. Silverman EA (Author), Margaret A. Munro EA (Author)

Book Description

Series: Taxes for Dummies | Publication Date: December 17, 2004

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 14^th. 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.

Editorial Reviews

Amazon.com Review

Taxes for Dummies: 1998 Edition, by Eric Tyson and David J. Silverman, is another title in the bestselling Dummies series, in which Tyson has authored four other books. Accurate and reliable in its lighthearted presentation, Taxes for Dummies includes tax-planning tips that will help you save money beyond April 15. While the book is just right for the average taxpayer, it may lack for people wanting a more in-depth guide--such as those running a small business from home or those trying to figure out capital gains on a mutual fund. --This text refers to an out of print or unavailable edition of this title.

Review

Far and Away the best...among tax advice books. -- Los Angeles Times

The most accessible and creative. It's also the best organized. -- USA Today

Will make tax preparations less traumatic. -- Wall Street Journal --This text refers to an out of print or unavailable edition of this title.

See all Editorial Reviews

Product Details

• Paperback: 557 pages
• Publisher: For Dummies; 1 edition (December 17, 2004)
• Language: English
• ISBN-10: 0764572113
• ISBN-13: 978-0764572111
• Product Dimensions: 10.7 x 8.2 x 1.6 inches
• Shipping Weight: 2 pounds
• Average Customer Review: 4.2 out of 5 stars  See all reviews (10 customer reviews)
• Amazon Best Sellers Rank: #1,686,653 in Books (See Top 100 in Books)

More About the Author

Margaret Atkins Munro, E.A. is a tax consultant, writer and lecturer with over thirty years of experience in various areas of finance and taxation. She is an Enrolled Agent, licensed by the federal government to represent clients in the areas of tax and tax-related issues, and currently operates a widely diverse private practice which specializes, among other areas, in trust and estate accounting and income taxation.
A classic example of living a life that's not following the plan set out in college, Peggy received a B.A. in history from The Johns Hopkins University, and has also attended University College, Cork, and the Pontifical Institute of Mediaeval Studies in Toronto. She resides with her family in Vermont.
Peggy is the author of 529 & Other College Savings Plans for Dummies, and the co-author of Taxes (2005, 2006, 2007, 2008, and 2009) for Dummies. She writes a bi-weekly column on anything and everything to do with money for The Montpelier (Vermont) Bridge, and has lectured extensively about taxes, and tax-related issues. She's been interviewed on numerous financial and tax-related topics by a variety of national media outlets, including CNN Radio, Family Circle Magazine, U.S. News and World Report, USA Today, Parents Magazine and the Associated Press.

Customer Reviews

Most Helpful Customer Reviews

45 of 46 people found the following review helpful:

3.0 out of 5 stars Good for basics and new tax law description/definition., February 20, 1999

By A Customer

This review is from: Taxes for Dummies 1999 (Paperback)

The book answered all my questions on the new 1998 tax laws. It was also a good guideline for those of us who don't understand taxes very well and are more familiar with the EZ-forms. This was my second year doing the long form with all the attached schedules and the book helped me develop an understanding of what the majority of the terms and references mean. However, since the level of information was BASIC, some of my questions were not addressed and I did not like how the book stated, "...see your tax advisor...". The whole reason I bought the book was so that I wouldn't have to have someone else do my taxes. Although there are only a few unanswered questions for my case, this still prevented me from completing them on my own. Some topics that should be addressed more thoroughly are Capital Gains, Corporate Relocations, and Itemized Deductions. At a minimum, this book should provide a complete listing of topics not covered thoroughly enough to complete the tax forms, and refer you to another book (For Dummies)instead of a legal IRS publication (or tax advisor).

26 of 26 people found the following review helpful:

4.0 out of 5 stars The book was worth double its cost or more!, February 10, 1999

By A Customer

This review is from: Taxes for Dummies 1999 (Paperback)

Taxes for Dummies made me so much more knowledgeable about the basics about taxes. It explains the basic items in simple terms, and even expands on items if you dare to want to know more. The tips were a great help as well. I now know the difference among the 1040EZ, 1040A, and 1040. I know when I can itemize and when I shouldn't. It also gave great tips on what I can deduct. If I had not read this book, I would not have known to deduct the interest paid on my student loan (and I didn't even have to use Form 1040!) It is also worth mentioning that I finished the book in one day! I highly recommend this book to people with beginner and intermediate knowledge of taxes.

18 of 19 people found the following review helpful:

5.0 out of 5 stars Good no-nonsense guide to all sorts of tax situations, October 6, 2000

By 

G. Harris "tekiegreg" (Loveland, CO, USA) - See all my reviews
(REAL NAME)   

Amazon Verified Purchase

This review is from: Taxes for Dummies (Paperback)

This book tries it's hardest to explain taxes in an easy to understand fashion for us normal people who don't have time to look through those extremely complex IRS instructions and other gibberish they give us taxpayers. The book does a pretty decent job of it too (however to accomplish that flawlessly, in my humble opinion, is impossible). Overall, any individual or small business that needs a few clues on how to do your taxes can benefit from this book. I can't wait for the 2001 edition to come out!