Book Description

With an introduction by Robert T. Kiyosaki In easy-to-follow and straightforward language, this invaluable guide teaches business owners how to pay only what taxes are due to the government-and save the rest. By learning the rules that the wealthy play by, business owners can take advantage of legal tax deductions to cut their annual tax payments.

Loopholes of the Rich will reveal how to:
- Control how much tax you pay and when you pay it
- Condense 500,000+ pages of IRS tax law into 3 easy rules that keep your money in your pocket
- Find the right business structure for your business to pay less tax and protect what you have
- Learn to make more money by using the tax strategies of the rich
- Pay less tax legally and still sleep at night ... Read more

Reviews (43)

Thank you, Diane!
Loopholes of the Rich is a great book, written in the same candid style as the Rich Dad books by Robert Kiyosaki and Sharon Lechter. Diane simplifies the complicated and confusing tax codes and puts them in terms that I can understand. Small business owners get incredible tax benefits as Diane points to specific benefits for them. Diane also explains how to start your own business, if you don't have one, painlessly and easily!
Based on the principles that I've read in Diane's book, I've been able to save a lot of money in taxes, not to mention a considerable amount of liability protection strategies in using corporations as a safe way to manage my assets.
I strongly recommend this book for someone who is trying to make a difference in their financial situation, especially if they are attempting to start their own business. As a small business owner, I would have saved a considerable amount of time and money if I had this resource years ago. Rather than paying a CPA hundreds, if not thousands of dollars, you can gain Diane's expert advice at a great price-not to mention a great reference source for years to come.
I'd agree with other reviewers to a point when they say that Diane's material can be difficult to understand. But I wouldn't call it boring. Instead, it's material that you can't just read like some Clancy novel-it requires more thought and comprehension than that. She presents the complicated tax laws in diagrams and case studies, which is helpful. Still, this isn't a book for those people who want some quick fix to their tax problems, but a book to change one's financial success in regard to legal tax strategies.
I would strongly recommend this book. In fact, I hope that Diane writes another book!

for marcisikoff [part 1]
sigh, the ignorance.
so, 98% of the people who tried MLM failed, a fact.
but what does the fact tell you? nothing.
the number does not tell you MLM is bad, you "assume" MLM is bad.
you need to look at the numbers from different angles.
there are hundreds of different MLM structure out there.
some are profiting, some are scams.
different companies utilize different structures, and sell different products.
maybe the company is bad, or maybe the products are bad, or maybe those people simply gave up too soon.
MLM is considered a business, and anyone who has formed or tried to form a (regular) business knows it often takes years to see real profit, if the business survived at all, not to mention the overhead every month.
i know a MLM company that allows you to balance your investment and efforts with "six" customers.
think upon that.

for marcisikoff
apparently you don't know what MLM is.
a good MLM company requires following elements:

1. excellent and unique products that people would buy over and over
2. a good business structure.

what you are talking about, is a "pyramid scheme".
what's the difference, you ask.
with a pyramid scheme, you do the marketing, you do the shipping, you do the money, like Amway.
you have to ship the stuffs to your customers' doors even if it's a 5-dollar lip stick.
a true MLM company takes care of shipping and money handling, you just share the products with people.
so MLM CAN work, if the company has excellent products.
the reason 95% people fail is because they find company that sells phone card, kitchen wares, shampoo, etc.
of course it'd fail, cause you can get those stuffs in costco!
i urge you to take a look at my website.
feel free to criticize me, as it'll allow you to understand and allow me to learn more.

http://homepage.mac.com/tonyswu/stw/why.html

Read it and weep
This book makes a lot of assumptions. It assumes that the reader is EXTREMELY well versed in corporate tax advantages. It assumes that the reader already owns a corporation. It assumes that the book will be read with a dictionary of financial terms close at hand. (It should be. The book is poorly written, with key terms lacking adequate defenition.) I support the Rich Dad series. It is a great way for a beginner to get their feet wet. This book assumes that the reader can already swim! Even the seasoned incorporator would probably not be pleased with this book. Tell you what, if you are considering buying this book, save yourself some money and just send me ten bucks. I'll then call you (on my own dime) and summarize the book for you. Oh, what the heck, I'll do it now, for free...surround yourself with a competent team of advisors.

Too much fluff & bad advice on MLMs
First on the fluff:

Ted and Ellen "story" adds about 40 pages of fluff just to give you a narrative of introducing time elements and slides detailing the pictures she is telling. 40 extra pages for this purpose is bad. Save the 40 pages and we'd have a thinner, more "manual" approach.

Now on the MLMs:

What she doesn't tell you:

a) 98% of MLM participants fail (e.g., lose money)
b) Some of the people "telling you you can't do it" might be right!

She goes into the whole spiel about how if they haven't tried it, don't listen to them. Well, take it from every person whose been victimized by MLMs....they DO NOT WORK!

c) All the examples in the appendix of people she's helped use "MLM Opportunity". She purposely uses "opportunity" when sane people would say "Scheme".

Now then, other than those 2 issues, it's a fine review of business structures: S-Corp, C-Corp, Limited and General Partnerships, and Sole Props (to a degree LLCs as well). But you can search google.com and find this all out.

C-Corp: don't hold assets as personal suits can get at C-Corp assets...so she wants you to make the C-Corp a limited partner in a partnership....this is all over the internet..you don't need the book for that.

Be fair to yourself...try looking up MLM or Multi Level Marketing on the internet before buying this book. ... Read more

Book Description

Includes all the latest updates and changes to the 2003 tax code

"If there's a tax break allowed out there, it's in here." --New York Daily News

Publishers Weekly called it "a can't-miss title." The New York Daily News praised it for "pushing the envelope" and taking "a consumerist approach that's helpful during all the other months before next April." Best of all, more than half a million people have consulted How to Pay Zero Taxes for solid guidance on paying less to the IRS.

This fully updated 21st edition contains:

• The latest tax changes
• More tax-saving tips than any other guide
• Easy, practical strategies to lower taxes this year, next year, and beyond
• Hundreds of legal ways to preserve pretax income and profit

Reviews (2)

Reference
It may work for a reference, but detailed answers cannot be found inside. I found it lacking in questions I needed answered.

How to Pay Zero Taxes by Schnepper
This is an excellent reference on the workings of the current
tax system. The author provides easy to read explanations with
sample forms and computations. He covers important tax shelters,
Court rulings, the child care credit, savings vehicles and
much much more. The book is a goldmine for taxpayers interested
in the fine points of the tax code and the implementation of it. ... Read more

Book Description

Praise for CONSCIOUS SPENDING FOR COUPLES

"Deborah Knuckey’s book should be included in every couple’s wedding registry. Conscious Spending for Couples will help newlyweds, couples, and families to understand what is needed to be on top of their financial game plan, and gives easy, creative, and hands-on advice on how to work as a team to achieve financial success. She does an excellent job of showing why money is such a point of contention for many couples, yet provides plenty of anecdotes and solutions to help every couple find their financial bliss."
–Don M. Blandin, President, American Savings Education Council (www.ASEC.org),
creators of the Choose to Save® program (www.ChooseToSave.org)

"Deborah Knuckey’s book helps couples deal with money in an emotionally intelligent way. She links critical communication skills with good money management in an inspiring, easy-to-read guide."
–John Gray, PhD
Author of Men Are from Mars, Women Are from Venus

"Conscious Spending for Couples is a must-read for couples who want to make their money work for them. This book shows readers how to use simple money management concepts to improve their financial well-being. In addition to financial advice, Conscious Spending for Couples addresses the emotional money issues that often keep couples from reaching their financial goals and enjoying their relationship."
–Kelvin Boston, host of PBS’s Moneywise and author of Smart Money Moves for African Americans

"Conscious Spending for Couples is a must-read for those pondering marriage, newlyweds who’ve already taken the plunge, and old fogies already sitting on the porch in rocking chairs. A powerful underlying message of Deborah Knuckey’s book is that respect between two people is necessary to have a functional relationship around money. She leaves no stone unturned, covering everything from why it’s important for couples to stay debt-free to how NOT to argue about money."
–Juliette Fairley, author of Cash in the City: Affording Manolos, Martinis, and Manicures on a Working Girl’s Salary ... Read more

Reviews (4)

Engaging personal finance tome
Everyone knows that couples fight about money but it's still hard to stop. Ms. Knuckey offers strategies to manage the "family" finances without coming to blows. Her advice is sound and understandable. I recommend this book to new couples and those who have been together for a while.

fun and informative!
This is an excellent book full of sensible and relevent advice. It is easy to read and well-written. I highly recommend it.

Required Reading for
One of the most meaningful books on finance I've ever read. Deborah Knuckey puts complex financial concepts within easy reach of readers of all backgrounds, while keeping the subject matter lively with real-world examples, humorous asides and just plain good advice. I wish I had read this book ten years ago!

Like many people, I have found that while my personal finance was in check, I have had trouble "sharing" money in a relationship. Agreeing how money is to be spent and how it should be handled is one of the most common sources of friction between couples. This book addresses the very real challenge facing people when deciding to share not only their lives, but their money.

Ms. Knuckey clearly explains how people's view on money differs according to their background, education and personalities. Without preaching specific financial advice, her book outlines the most common problems that couples face when handling money together, and some suggested ways in which to mediate, compromise and agree upon mutually beneficial financial strategies.

Buy this book for the new couple in your life. They'll thank you for it later!

Wish I'd read this years ago
This book could have saved my first marriage. This time around, my new husband and I are determined to get it right, and we both started reading this last week and doing the exercises - great stuff!

Who would have thought that talking about money can make us closer? This book shows that money doesn't have to be a source of conflict, and we are now developing a financial plan based on our life goals - to grow old together in comfort. The author also offers some great ideas about how to manage the biggest costs in our lives: our house and our cars. A MUST READ! ... Read more

Book Description

America’s number one tax guide for tax professionals

For more than half a century, millions of Americans have turned to J.K. Lasser for easy-to-follow, expert advice and guidance on planning and filing their taxes. Written by a team of tax specialists, J.K. Lasser’s Your Income Tax, Professional Edition 2005 is the ultimate quick reference tax guide for tax professionals. Filled with easy-to-use tax planning tips and strategies, this comprehensive guide arms CPAs, financial advisors, and other tax preparers with the information they need to maximize their clients’ tax savings.

Completely updated with all the latest tax law changes, J.K. Lasser’s Your Income Tax, Professional Edition 2005 makes preparing 2004 tax returns easier than ever. Special features include: source notes for tax rulings, citations to relevant court cases, the very latest tax law changes, and more. Filled with the classic tax guidance that only J.K. Lasser can provide, this Professional Edition is the book of choice for serious tax professionals.

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 60 years and read by over 38 million people. ... Read more

Book Description

This book makes it easy to learn how to get the most from a Roth IRA. In plain language in covers:

Choices. Deciding whether the Roth IRA is best for you, and where to establish your Roth.

Contributions. How to build wealth for yourself, your spouse, even your child.

Conversions. Determining when and how to convert a traditional IRA to a Roth IRA.

Distributions. How to withdraw money from your Roth IRA without paying tax or penalties.

Strategies. Situations where the Roth IRA can provide special benefits.

This book is your complete, authoritative guide to Roth IRAs, covering all the rules -- and explaining strategies that will help you build and preserve retirement wealth. ... Read more

Book Description

Here's how to make sense of the tax rules

To understand the tax rules, you need clear explanations—not complicated tax jargon. PricewaterhouseCoopers Guide to the 2005 Tax Rules fills this need. Using plain, easy-to-understand language, the trusted tax professionals at PricewaterhouseCoopers explain how the tax rules affect your personal finances and how you can benefit from available opportunities. They outline ways to handle your investments, plan for your retirement, pay for your children's education, realize tax savings, and much more.

Filled with in-depth insights and practical advice, this guide will:

• Give you proven tips, techniques, and methods to keep you from paying more tax than you're legally obligated to pay
• Help you plan for new rules that don't take effect until 2005 or later
• Arm you with unique insights, wise suggestions, and vivid examples for dealing with this year's tax provisions
• And much more

PRICEWATERHOUSECOOPERS (www.pwc.com) provides industry-focused assurance, tax, and advisory service s for public and private clients. More than 120,000 people in 139 countries connect their thinking, experience, and solutions to build public trust and enhance value for clients and their stakeholders. ... Read more

Book Description

How to save hundreds—even thousands—of dollars a year in property taxes You can’t escape paying property taxes, but you can avoid paying more than you have to. This authoritative new guide explains how. Written by an experienced real estate counselor, Challenge Your Taxes helps you evaluate your property assessment and pinpoint any inaccuracies that, once amended, could dramatically reduce your tax bill. With proven guidelines and practical tips, you’ll learn how to determine what your property is really worth, qualify your property for a deduction, and—in the case of an unfair assessment—prepare and present a successful appeal. Here’s where you’ll find complete details on:

• Property valuation—fair market value, comparable sales and cost approach, amenity considerations
• Assessors—who they are, what they do, and what they look for
• Checking your property information—study your property record file, confirm property category, use sales/assessment ratio to establish fair value
• Common assessment errors—miscalculated land area, incorrect judgment of condition, comparable sales ignored, wrong zoning classification
• Assessment appeals—summary of procedure, presentation checklist, the appeal board, abatements

Book Description

A Simple, Breakthrough Stock-Picking System! Pick winning stock after winning stock with nationally recognized financial expert Edward F. Mrkvicka, Jr. Using his proven Trinity Trading System, anyone can enter the market and profit, whether you’re a beginning investor on the Internet or a professional trader who needs to supercharge a portfolio. J.K. Lasser’s Pick Winning Stocks will put power into your investing as you scan key indicators listed daily in the Wall Street Journal. Then, the resistance barrier breakthroughs you chart today will begin rewarding you with a lifetime of significant returns. This easy-to-understand guide isn’t like other investing systems on the market, yet it is so clear and safe, you’ll be recognizing buy and sell signals in minutes—with or without a broker. Critical coverage will help you:

• Locate information you thought was available only to Wall Street insiders—and put it to use energizing your investments
• Take the "emotion" out of placing or canceling an order by picking stocks objectively and confidently
• Increase profitability, no matter what kind of market conditions you’re investing in

Reviews (8)

I am going to try this system out
I am starting today. I am getting wall street journals and recording the stocks that hit 3 times in the next 24 days.
I read some of the reviews and either people thought the book was written by the Lord above, and made bank, or that it didnt work. This is my guess as to why this is: The book DOES NOT SAY to buy any stock that trips across the radar screen, (like some of these boneheads obviously have done)instead read the book throughly instead of lightly going through it. The book states you have to look at the market conditions, and also the fundimentals of the stocks. Look at the earnings over the last few quarters. Look at the expected earnings for the future. Learn how to read a balance sheet. Two good books by "O'Neal who published Investors Business Daily Newpapers......one is how to invest in stocks. Look him up as a good suppliment to this book. Once you use that to help you filter out the bad stocks and learn how to read a balance sheet and to apply it to the trinity trading system, you should go on to accumilate some pretty nice wealth in your future. Anyway, I will repost in several months to tell you how it went.

Educational and informative
I learned a lot from this book - and it was easy and enjoyable to read.
I was impressed by the author's correct prediction of the crash of Nasdaq and the sizable correction of the Dow.
While not a perfect trading system (but then what is), I've done well with it. I suspect I would have done even better if the market wasn't experiencing its present turmoil.
I also noticed this; you have to read and understand the entire book to fully benefit from the trading system; i.e., the trading system is not a stand-alone, but rather a gestalt.

It has worked for me.
I wish this book had been written 15 years ago when I first started trading. No, not every trade has been a winner, but the majority have been. And, by following the author's advice, the few losers I've had have cost me virtually nothing, while my many winners have won BIG.
Bottomline: I've made more money trading this system then any other I've ever used.

Great strategy... if it worked
This was a very interesting book. I enjoyed it immensely. Unfortunately, the Trinity Trading System doesn't work. Since I'm a software developer, I created a database and program to automatically alert me to ALL stocks that fit Mrkvicka's strategy, and I've been monitoring it. It just doesn't work. The losers far outnumber the winners, and the winners have not been stellar. Anyone can sell a book that has a "sure-fire system," but in the end Mrkvicka provides only anecdotal evidence to back up the system. If you want an example of a statistically sound book, check out O'Shaughnessy's What Works On Wall Street or Siegel's Stocks for the Long Run. If Mrkvicka really believes in his system, he will publish valid data to prove it, not just list a few winners.

Make your picks carefully
I put the book's principles to work, and got mixed results. I would say roughly 75% of my picks based on this system produced gains in the first few days/weeks. I've probably traded 40 different stocks. I took the authors advice and moved my stops up as the price increased. However, after posting nice gains in the short term, and subsequently upped the stops as they moved, most of the stocks pulled back and hit the stop for a small gain or small loss. I had one stock post a 70% increase in a few of weeks. Check out CHH bought in early July. However, the stock had strong earnings, strength and it was also being heavily accumulated at the time I bought it. Most days 4 times the average daily volume, and up to as much as 20 times normal volume. Also, CHH is in the leisure industry which happened to be in the top 3 industries at the time. And it just so happens that it was pulling out of price consolidation or base - a perfect 'cup with handle' formation. See investors.com for further detail. It looks like all of these things made a difference in my best performing stock. I would suggest using TTS to alert you to stocks, but also check their fundamentals, volume and industry strength. Don't just buy any stock that hits your radar screen. In a bear market, I would suggest targeting a small profit, then sell it once it hits. I know that the author states that you should go long in a bear market, and short in a bull market, based on his belief that a stock that is bucking the trend shows real strength in whichever direction it is moving. But, I've found that most stocks will eventually follow the market in either direction. If I would have sold at a small profit, say 10-15% which most of the stocks that I picked made, I would have done better. Also, I would pick one stock at a time and let it prove itself instead of picking many stocks just to be fully invested. And I wouldn't limit myself to the prices that he recommends based on your portfolio, nor the number of stocks. I believe it's better to have a few good stocks and feed them, then to have many mediocre ones. Like he says, don't alter the princples of TTS, but feel free to tailor it to your needs. An interesting and good read even if you don't try it. ... Read more

Reviews (1)

Leveling the playing field with the IRS
Very well done book which helped me with my problems with the Irs. The forms that IRS sends when you want to offer a compromise were baffling (just like any government form). The Tax Debt book helps to get through the paper work, and the real life examples in the book are great. You still have to do the footwork, but the IRS will cut your tax bill if you know what you're doing. It wasn't easy to deal with IRS on your own, but it's impossible without a book like this. Knowledge means money when you're fighting the IRS! ... Read more

Book Description

". . . The best tax guide of the bunch . . ." –USA Today

". . . Hard to Beat . . ." –Money magazine

The Ernst & Young Tax Guide 2004 is the most current, authoritative, and bestselling tax guide on the market. Here is the only guide that provides complete coverage of the new tax law provisions and includes essential forms for the upcoming tax season, plus the IRS’s official filing instructions for these forms. Make the most of the new tax law by learning how to save on your taxes with one of America’s leading tax and accounting firms, Ernst & Young LLP.

SPECIAL FEATURES IN THIS YEAR’S EDITION:

• How to make sense of the the Jobs and Growth Tax Relief Reconciliation Act of 2003
• IRS Publication 17, "Your Federal Income Tax"
• How to determine retirement plan contributions under the new rules
• Using Coverdell ESAs and Qualified Tuition (Section 529) Programs
• 50 Most Commonly Overlooked Deductions
• How the continued phase-in of the Economic Growth and Tax Relief Reconciliation Act of 2001 will affect your taxes today and in the years to come

PLUS the always popular features:

TAXSAVERS–tips to slash your taxes this year and next
TAXPLANNERS–strategies to help you prepare for the upcoming year
TAXALERTS–pointers on the new tax law changes that may affect you
TAXORGANIZERS–reminders that help you keep track of your important tax records
Over 450 of them at your fingertips! ... Read more

Reviews (3)

Read This Book
I am not sure what book the previous person read, but it wasn't this one!!

Not only do they give you IRS documents and forms, but explains them line by line in real peoples language. Citing court cases and explains what to do and not do to get the best out of each line and every form.

File however you want, but this baby sits on my desk and is used to reference when I need to know how to get the best deduction or the legal view on a purchase, debit, sale or credit.

If you run any business or household.... Get the most from the money you make. E&Y help you do it with this guide

Not bad since the IRS basically wrote it
This book is simply a compilation of the IRS publications found at www.irs.gov. I mean they didn't even change the wording one bit. Look at education credits then go download Publication 970 from the IRS' website. It is verbatim.

The only real reason to get this book is if you don't want to go get it from the IRS website. I give it 3 stars since it does provide an easier layout than searching the IRS website, but it really doesn't provide it in an easy to understand language so non tax professionals can truly understand what is going on.

Annual Favorite
This continues to be my annual favorite. Although I now do my taxes electronically, I still get a "real" guide as both a reference and tutorial. It also makes for an easy way to see the big changes for the year. This guide has all kinds of information with very good detail and examples. The printing is easy to read and the quality is good. I have not found anything better in the competition ... yet. ... Read more

Book Description

The second edition of Consider Your Options includes the features that made the first edition so popular and much more. It provides plain language guidance for all the popular forms of equity compensation: stock grants, nonqualified options, incentive stock options and employee stock purchase plans. It tells how to avoid mistakes that can result in paying too much tax or otherwise failing to get the maximum investment return from these benefits. The book assumes no knowledge, explaining all the basic terminology and concepts from the ground up. Yet it also includes more advanced material for those seeking to render professional advice -- or evaluate the advice they've received.

The second edition covers the latest tax changes and includes ten new chapters on stock option planning. These begin with basics of investing and move on to cover investment risk and reward, stock option valuation, and strategies for handling different types of options. Included are instructions on how to build your own spreadsheet to calculate Black-Scholes stock option values. ... Read more

Reviews (23)

Waste no time getting up to speed on Stock Options
One of the few books available today on incentive (ISO) and non-qualified (NQ) stock options this does an excellent job of describing the basic ins and outs of how each type of employee stock option works. Unlike "Stock Options" by Robert Pastore, which is quite dry, this introductory book presents the material concisely and in a well-organized manner to quickly get up to speed. Of course a significant amount of the material found in this book can be read for free on the publisher's website. I would also highly recommend purchasing Pastore's book since it provides more strategies that you can actually apply, but read "Considering Your Options" first and then just flip through Pastore's book this to look at the strategies.

Just keep in mind that both of these books are only a first step at figuring out what you plan on doing. There is no substitute for a good tax account who is knowledgeable in the areas of stock options and estate planning. In addition there are many strategies that exist which aren't covered in either of these books. If you are trying to sort out what your strategy is for exercising your stock options it is well worth your time to read both of these. And you can't beat the price. If nothing else it saves you from shelling out $175/hour to hear an experienced tax accountant educate you on the basics.

Money well spent
No matter how well you think you understand the world of stock options, there's a good chance you will find some nugget of information in here that could save you A LOT of money.

In my case, I work for a small company. I actually had the company amend their stock option agreement based on information I found in this book. Based on the projected IPO price, this amendment will likely save me over $100,000 in the future.

A prior reviewer complained about the book and recommended a "tax professional". First, I have read this and Pastore's book, and this is hands down a better treatment of the subject. Second, if you are outside of Silicon Valley, then I wish you the best of luck in finding a CPA that knows anything beyond the basics as far as ISOs and 83(b) elections are concerned.

Buy the book AND find a tax professional. A tax professional does not have such a vested interest in your financial future, and you don't have his vast knowledge of the tax codes. I found that working together with my CPA and this book, we were able to do some excellent tax planning.

Covers the basics, but not strategy or advice
This book is good in that it covers all the basic mechanics of stock options -- Incentive and Non-Qualified, and ESPP plans. However, this basic information can easily be found on the web or from your employer.

What is sadly lacking from this book is advice on strategy on how to manage options, e.g., ideas on when to exercise and sell. Because of this, the book is quite disappointing to me and not very useful.

If you have any stock options, GET THIS BOOK!
This is the perfect book for anyone who has any stock options or who can participate in their company's Employee Stock Purchase Plan (ESPP). It starts very simply, and in a series of short, but complete chapters, covers the spectrum of stock ownership, vesting, ISOs vs. NQOs, the effect of AMT, and much more.

Did you know that stock purchased in an ESPP is treated by the IRS in almost the same way that an ISO is? That there is usually no long-term advantage to buying and holding Non-qualified options? That you only have 30 days to file your 83b exclusion? (If you don't know what an 83b exclusion is, you need this book).

The book does its best to explain Alternative Minimum Tax (AMT), and althought this chapter fried my brain, its because of the complexities of the AMT (simplify it IRS!), not because of the book.

A must have for people with equity in their company...
An excellent resource for anyone seeking to understand and be involved in planning strategies to maximize the after-tax value of your stock compensation. Covers restricted stock grants, options (ISOs & NQSOs), employee stock purchase programs (ESPP). Various areas of tax planning are covered in detail: strategies to minimize AMT, effects of early exercise thru 83b election, gifting or donating options/stock, etc.

The author describes topics in a matter that is both thorough and easy to read. The book is organized into sections devoted to specific topics making it easy to skip or skim sections that may not pertain to your particular situation (e.g. there are separate sections on NQSOs and ISOs). Additionally, the author makes good use of examples throughout the book to illustrate complex rules. This latest edition (Apr 2002) includes updated information regarding changes to tax laws as well as explanations of pitfalls that many optionees have encountered recently (e.g. ISO "wash" sales).

This book is a must have to anyone who receives a portion of their compensation in the form of equity, whether it be stock grants, options, ESPP, or any combination of these. The book is both an informative read as well as a handy resource to keep on your bookshelf. After reading this book, most people will have all or nearly all the tools & info they need to develop their own strategies for managing their stock should they so desire. For those seeking professional advice, this book serves as a great overview so that you can understand the process and ask all the right questions. I only wish I had found this book sooner :) ... Read more

Book Description

Riding a barrel over Niagara Falls. Snowboarding down Mt. Everest. Surviving an IRS audit. Impossible feats? The first two perhaps, but escaping an audit intact? No problem with this Nolo, tax-time lifesaver.

Surviving an IRS Audit, written by tax expert Fred Daily, explains what to say, what to do--and even what to wear--so that a visit from the auditor doesn't turn into a disaster. With material pulled directly from IRS training manuals, the book exposes the tricks of the auditor's trade. It provides a profile of People-Most-Likely-to-Be-Audited and discusses whether or not the IRS can look at a person's "lifestyle" during an audit, rather than stick to the tax return on the table. The book also suggests three steps to take when an unreasonable auditor goes too far, including how to go over an auditor's head and negotiate a more reasonable outcome.

Nearly fifty percent of all taxpayers will be audited at least once during their lifetime. This Quick & Legal book levels the playing field, giving everyday folks the information they need to act and speak like a tax pro. "I survived an IRS audit!" will no longer be something only daredevils can boast. ... Read more

Reviews (22)

You'll wonder why our accountant never told you this
I bought two copies of this book; one for myself and one for my accountant.I found out very early in my business career that tax preparers go to school to lean how to fill out tax forms and accountants only fill in the numbers. After reading this book, I found legal deductions that my accoutant never told me about...I had to suggest it to him.Once you begin applying the strategies that Wade teaches in Real Estate Money Machine and the Wall Street Money Machine series, you'll need to integrate these srategies to protect yourself from overpaying your taxes.You'll also need to protect yourself against lawsuits. This book shows how.I also recommend Wealth 101 and Loopholes of the Rich by Kiwosaki.

What a Eye opener! Saved Thousands of $$$.
The biggest expence we face, more than our mortgages, putting children through college or buying cars is taxes. This excellent book by Wade Cook saved me $... last year.So much information: Nevada Corporations, income splitting. entity integration, tax credits, gifting and so much more. I have always advocated filing the long form, not the short form while filing your taxes to make taxpayers more tax aware. This book really lets out all the stops. You really can get rich despite the tax laws if you follow Wade Cooks advice. Brilliant Deductions is a brilliant book that will open your eyes to what is available. Use what you can now and then add more strategies as they apply to you.Last Fall, I invested in section 29 tax credits for the first time. While a minor strategy, I recieved a major gain 100%, plus a nice dividend and a tax credits to offset taxable income. I know some people who still spend money to create tax deductions.... Not too shabby.Great book for anyone who wants to minimize taxes.

One of the best tax reducing guides available today!
If you are serious about reducing your taxes..pronto, then read Brilliant Deductions by Wade Cook. I also recommend Tax Loopholes in the Rich Dad Advisor series and Money Mastery. These books will make you tax smart and add to your cash flow.

Exciting and very well written.
I have seen other books by Wade Cook and wasn't all that impressed. This one really did impress me and is a worthwhile read.

In this book you will learn about Nevada Corporations, income splitting and more. Cook also writes in an easy to read style and makes the information jump to life. He is an excellent writer.

I also recommend How to Inc. & Grow Rich by C.W. Allen, How to Own Your Own Corporation by G. Sutton, Loopholes and Inc. Yourself.

You've got to KEEP IT, if you want to SPEND IT!
"Brilliant Deductions" is just that...BRILLIANT! Inside you will find MANY legal and ethical tactics to avoid giving your money to the government. As Robert Kiyosaki's Rich Dad said "It's not how much you make, but how much you KEEP that counts!". I recommend this book to everyone who has any ambition to increase their income--which you will do simply by keeping more of what you already earn! Wade Cook is a master at educating people to the tactics and processes of both MAKING money, and KEEPING it once it's made. You will also profit greatly by reading Robert Kiyosaki's "Rich Dad, Poor Dad" and its two sequels "Cashflow Quadrant" and "Rich Dad's Guide to Investing". All of these basically allow you to discover, understand, and apply what the TRULY RICH in the world do to make, maintain and increase their fortunes. ... Read more

Book Description

For twenty-six years running, the market-leading West Federal Taxation Series has helped more than one million users master the ever-changing nature of Federal taxation.The 2004 Edition of West Federal Taxation:Individual Income Taxes is no exception. With its comprehensive and accessible coverage, no other text is as effective at helping users master the ever-changing individual tax code and regulations.Because of its adherence to the recommendations of the Accounting Education Change Commission (AECC) and the American Institute of Certified Public Accountants (AICPA)and because its authors and editors stay on top of trends in both tax law and tax education-- the 2004 Edition is thoroughly up-to-date, current in its thinking, and pedagogically advanced. ... Read more

Reviews (2)

0 Stars
This has to be one of the worst textbooks I've encountered:
- Poorly organized
- Poorly written
- The problems have little correlation to the content of the chapters.
- Very few graphics, although some of the graphics included are quite good, just not nearly enough.
- This book is written for savants that confuse memorization with learning.
- You're probably stuck with this text; urge your professors and departments to abandon this book. Your time is worth something!

Poorly Written
This book was required by my professor so I had to buy it. It is probably one of the worst textbooks I have ever used. I found the writing poorly phrased and there were a few inconsistencies with the Code. (constructive receipt, etc) ... Read more

Book Description

The Wall Street Journal Guide to Understanding Your Taxes is an easy-to-use, easy-to-understand guide that de-mystifies the process of taxes.

It initiates you into the mysteries of the tax process and educates you regarding tax strategies. ... Read more

Reviews (3)

Good basic guide - helps understand the vocabulary of taxes
First, this is NOT a tax manual. This small and colorful book is designed as a general introduction to the process and vocabulary of the various taxes we all pay under varying conditions of income and investment. It is not a current guide to assist you in tax planning.

It gives you a basic introduction to the kinds of taxes we pay at the federal and local levels, the IRS, "paying as you earn", the annual (federal) return (with a nice general overview of the general applicable forms), audits (shiver!), and a little overview of tax planning. But, again, this guide's purpose is to provide a general overview and to provide you with basic concepts and vocabulary. Think of this as a good introduction to the topic rather than a practical preparation guide and you will understand what this book is trying to do.

It has lots of color and every page also uses helpful illustrations of the forms and processes involved in the tax process. Great for young people trying to learn what they are facing as the goverment(s) remove large chunks of their income to keep us in whatever it is we think we have from the government(s).

OBSOLETE
Tax laws have changed dramatically since 1995. A lot of the information in this book is irrelevant now. Does not include infomation on newer tax credits.

WSJ must introduce a new and updated edition.

Taxes in brief for beginners
This book was the right price and the right pace for a young person begining his or her life on their own. The Wall Street guide is comprehensive covering a quick history of taxes and then expounding upon the present state of US tax codes and the IRS. This book won't help you fill out your taxes nor contain the most up todate codes but may help make the frustration and confusion associated with filing much lest daunting and more bearable ... Read more

Book Description

The text emphasizes those areas of taxation generally accepted as essential to the education of those pursuing careers in taxation or tax-related fields and is intended for advanced topics in Federal taxation undergraduate or graduate accounting, business, or law students. ... Read more