Book Description

Save tons of money with the secrets to avoiding income taxes

Could it be possible to run your business without paying federal and state income tax for at least 36 months? What if you’re not in business–how about reducing or completely wiping out your income tax? It may sound too good to be true, but the answer is YES. In this easy-to-use, plain-English book, Robert A. Cooke shows how you can legally use the tax rules to your advantage. Doing Business Tax-Free, Second Edition is packed with tax-saving concepts and ideas and clear explanations on how to apply them to your own situation.

Numerous examples help you understand crucial tax-planning maneuvers and form a game plan, which, with a little professional fine-tuning, will alleviate your income tax burden. Plus, you’ll save even more money by learning how to keep professional fees to a minimum and shorten your time in the tax preparer’s office.

New to the Second Edition:

• Recomputes examples involving computation of individual income taxes with year 2000 tax rates
• Features updated sections on S corporations, limited liability companies, and loss carryovers
• Covers the new, simpler "check-the-box" rules for satisfying IRS requirements for taxation of a limited liability company
• Guarantees postings of future significant changes to the tax rules regarding S corporations on the author’s Web site, www.robertcooke.com–which you can check for updates as you read the book
• Includes revised rules for home offices

Reviews (4)

Great book for a beginner
I own a company and needed to learn about the basics of tax reduction. I found this book to be useful in just the basics. Because it concentrated on many topics, I believe it wasn't able to focus on many items that would have been useful to me. However, it was well written and easy to read, and I give it five stars because it gave me many broad questions to ask my tax consultant.

Less than what I expected
I thought that this book would have tons of lists of tips and give lots of legal, but perhaps edgey advice, but it fell short. I didn't find it easy to read through, I didn't find lots of lists and tips, I like books like this to make it easier.

I am sure the advice is sound, but what I found here didn't seem to live up to what the cover implied.

Where are the S-Corps?
I found this book a bit loose, and am looking for a more thorough description of financial management practices unique to an S-Corp. I have been looking for a definitive description of S-Corp accounting practices and concrete tax saving advice. My S-Corp. started last April, from a 3-month old sole proprietorship with all the requisite Federal and State designations. If anyone knows of a book particular to S-Corps, it would be much appreciated. In conclusion, I have found this book helpful, yet not as specific or thorough as I had hoped.

An understandable book on reducing business taxes
Full of good ideas conveyed with a clear writing style, this book gives readers lots of good, concrete examples of how different businesses can reduce their tax burden. I was looking to create a new company and wanted to figure out which type of company was right for me (partnership, LLC, Chapter S, or C Corp). By following the examples in the book, I was able to zero in on the right organization for my consulting business. I have no doubt that when it is all said and done, I will have saved thousands of dollars by reading this excellent book. ... Read more

Book Description

"Offers a wealth of tips and advice . . ." –The New York Times

Ideas and tips that can help you with your taxes

Higher tax credits, marriage penalty relief, rate cuts affecting all income brackets, and favorable treatment of corporate dividends are only a few of the changes made by recently passed tax legislation that will affect individuals this year. Do you know how these new rules affect your taxes?

From the authors who brought you The Ernst & Young Tax Guide–The Ernst & Young Tax Saver’s Guide 2004 offers insights and techniques that may help you lower your taxes. Packed with tips, The Ernst & Young Tax Saver’s Guide 2004 gives you the lowdown on new tax laws and year-round strategies to manage your taxes.

• "Tax Savers," " Tax Alerts," and "Tax Organizers" offer helpful tips and reminders
• A special life-events index helps you plan for taxes associated with marriage, home-buying, retirement, and more
• Year-round tax-planning techniques and year-end tax-saving ideas help you manage your overall tax bill
• A special mutual fund chapter covers when to make new investments, and how to treat distributions, transfers, and redemptions
• Charts and tables clarify confusing tax issues

When you need up-to-the-minute answers to your tax-planning questions, turn to Ernst & Young. Put the experience of one of the nation’s leading professional services firms to work for you today, with The Ernst & Young Tax Saver’s Guide 2004. ... Read more

Book Description

Ever since Colonial times, Americans have been bedeviled by high taxes that seem to return little of material value to citizens. Taking a page from Thomas Paine's "Greedy Hand" manifesto, Amity Shlaes has written a provocative and fascinating book exposing the inequities of our present tax system, and offers concrete, coherent solutions to simplify our lives.Today, taxes make up more than a third of our economy, the highest level in peacetime history. We truly live in the land Paine foresaw when he warned of government "thrusting itself into every corner and crevice of industry." This book is a cultural examination of the way taxes influence our behavior, and how they force us into an arbitrary system that punishes families and individual enterprise. Shlaes shows how so-called tax breaks do little to help families and how married women are unfairly taxed more. She uncovers the problems that engage and enrage us, proving that Social Security issues and school inadequacies are at heart tax problems. And she charts a course out of the madness of tax oppression, offering a number of solutions that will give each of us a fairer, simpler system. With compassion for Americans and their dreams, Shlaes makes the best case yet for rethinking our tax code.
... Read more

Reviews (41)

An Interesting Look at How Government Takes More and More!
The 20th century was an arms race between the governments in the United States and its citizens to determine who would control the citizens' income. Government was on the offense and the citizens were on the defense. The citizens lost to date. Taxes went from less than 5 percent of income to 40 percent over that time. Most would agree that we cannot afford another century like that one.

This book nicely lays out the history of taxes that take more income and waste a lot of time and effort in the process. The author looks at sales taxes, withholding taxes at work, the marriage penalty in the income tax, whether the housing deduction for interest and taxes is a good thing or not, the problems with taxes on domestic help, property taxes and school support, the social security system, and estate taxes.

She doesn't like much of what she sees, and is concerned that reform could simply lead to adding new types of taxes (like a national sales tax while keeping all of the old taxes).

The newer the tax or tax idea, it seems like the worse it is working.

Her solutions are basically principles to be followed in reforming taxes. I doubt if they will be followed anytime soon. Recent polls show that most Americans are concerned about paying off the national debt and fixing social security before doing anything about cutting taxes.

Although most of her observations were good ones, I was a little doubtful about her automatic focus on the high income people being taken to the cleaners unfairly. There was not as much attention paid to benefits that lower income people may be receiving.

If you spend time thinking about how to keep your tax bill down, there's not much new in this book. If you are new to all of the ways that government helps you spend your money, this is a good introduction to the subject.

The book is well written and pleasant to read. The only drawback I found was that it was a little depressing to be reminded of how much I actually pay to all of the various governments.

On the Cost of Paying More and More
When George Washington was president, taxes were few. Since then, times have really gotten expensive. The 20th century especially was an arms race between the governments in the United States and its citizens to determine who would control the citizens' income. Government was on the offense and the citizens were on the defense. The citizens lost to date. Taxes went from less than 5 percent of income to 40 percent over that time. Most would agree that we cannot afford another century like that one.

This book nicely lays out the history of taxes that take more income and waste a lot of time and effort in the process. The author looks at sales taxes, withholding taxes at work, the marriage penalty in the income tax, whether the housing deduction for interest and taxes is a good thing or not, the problems with taxes on domestic help, property taxes and school support, the social security system, and estate taxes.

She doesn't like much of what she sees, and is concerned that reform could simply lead to adding new types of taxes (like a national sales tax while keeping all of the old taxes).

The newer the tax or tax idea, it seems like the worse it is working.

Her solutions are basically principles to be followed in reforming taxes. I doubt if they will be followed anytime soon. Recent polls show that most Americans are concerned about paying off the national debt and fixing social security before doing anything about cutting taxes.

Although most of her observations were good ones, I was a little doubtful about her automatic focus on the high income people being taken to the cleaners unfairly. There was not as much attention paid to benefits that lower income people may be receiving.

If you spend time thinking about how to keep your tax bill down, there's not much new in this book. If you are new to all of the ways that government helps you spend your money, this is a good introduction to the subject.

The book is well written and pleasant to read. The only drawback I found was that it was a little depressing to be reminded of how much I actually pay to all of the various governments. Every year, I find April 15 more and more depressing.

Government Has No Money That It Doesn't Confiscate
I just don't understand how it's considered "greedy" for me to want to keep all of the money I have worked to earn -- but it's somehow NOT greedy and/or lazy and/or selfish for someone to want the government to provide his health care (or pay him when he is unemployed) with money that has simply been confiscated from some other person who performed the work to earn that money. Can somebody explain that to me, please?

Silly stuff from someone who likes unemployment
As the title says this is silly, political posturing by
someone who has hers and doesn't particularly care if people
are out of work. Maybe she doesn't care if you're on the dole.

Simplistic Nonsense
This book has so many historical distortions, simplistic arguments, and blind-passion its tough to know where to start. So I'll confine my review to some of the obvious problems she either ignores or skates over...

To begin with, Shlaes completely ignores the international picture. Amazingly, America is the LEAST taxed developed nation in the world, yet has the largest military forces (bigger than the next 10 nations COMBINED), the largest road network, the largest criminal justice system, the largest education system, the largest number of public funded colleges, the largest (combined) police force, the largest number of professional fire-fighters and so on and so on. All these huge organisations cost huge amounts of money; a simple yet devastating fact Shales prefers to ignore. Instead she talks of waste and corruption. Well, those are probably inevitable, given the mind-blowing size and complexity of the organisations the US has.

Then there's the whining and angry (although passive and prosperous) American middle class, provided with free education, subsidised housing (tax cuts for home buyers), subsidised gasoline, subsidised roads, and so on. In fact this class has some claim to be the most subsidised group in the country.

Shales may well be aware of the major paradoxes I've outlined above; how else to explain her hopelessly weak suggestions (worthy of a High School debate) on reforming and and streamlining the system?

Ultimately, like every other commentator and politician, Shales cannot escape the contradiction that American citizens have grown to demand and expect the best from their government, yet (unlike any other aspect of national and private life) they expect the best to be provided for almost nothing, as if by magic, by a mysterious entity called "Washington."

Without a major rethink of American citizen's expectations and the country's world role, any talk of significant tax cuts will remain limited to misty-eyed dreamers like Shales and her followers. ... Read more

Reviews (2)

NOT for beginners
The Holmes F. Crouch books that I've read are very detailed and really look at things hard from a taxation and accounting basis. The book doesn't deal with "soft" issues like marketing your business and such...it deals with the hard financial stuff. If you have a head for this stuff, this book can be invalueable. It has the best information I've yet seen in helping a person try to come up with a REASONABLE price for their business...one that is based in solid financial reality rather than pie-in-the-sky pricing...which is what one often sees.

Crouch does not write for entertainment. There aren't cute anecdotes or easy to digest case studies. But if you are NOT a dabbler and are serious about the subject, this book is really a must have.

Essential In Selling Your Business
This book gives an outstanding overview of every aspect of selling a business. It covers evaluation issues (oftentimes overlooked by sellers) tax and legal issues. Of great interest is the tax problem(s) that the author presents and can save an owner's financial neck. If you are even considering buying or selling a business, this is the one book you absolutely must have! ... Read more

Book Description

Do you owe taxes you can't pay?Solving IRS Problems Made E-Z is a step-by-step guide to all your options, including the IRS' little known Offer in Compromise program.Packed with strategies, tactics, and secrets, this guide shows you why it's easier than ever to settle your tax problems for a small fraction of what you owe.Discover what you must do right now to negotiate your best deal with the IRS...even before you file your tax return. ... Read more

Book Description

The Internal Revenue Service is the taxpayer's nightmare, and for good reason -- a tax bill or other notice can come out of nowhere and wreak havoc on your life.

But now you can confront America's most intimidating government agency with confidence. Stand Up to the IRS reveals the tactics of the IRS and how to deal with them. This book even contains confidential forms used by IRS agents during collection interviews and audits.

Use Stand Up to the IRS to:

*file a late return *work out a long-term payment plan *get a Taxpayer Assistance Order *settle your tax bill for pennies on the dollar *stop collection efforts *avoid property seizures *protect your assets *determine if bankruptcy offers a solution *learn what to say when you face an auditor *appeal the auditor's decision

The 7th edition, completely updated to reflect the latest rules and regulations, also provides the information and forms you need to go to Tax Court, including everything you need to represent yourself in cases involving less than $50,000. ... Read more

Reviews (2)

Excellent to have if you have a disagreement with the gov
I didn't intend to stand up to the IRS but had to due to circumstances beyond my control. Daily's book gives a comprehensive look at what constrains the IRS and what sort of leeway a taxpayer. What I found to be of the most value, though, was his simple explaination of complex circumstances. Daily breaks down various tax problems and solutions and suggests ways to prevent having the IRS resort to putting a lean on your home, etc.

I'd highly recommend Daily's book as it has the insider perspective that a taxpayer needs but the dose of reality to prevent a false sense of security when negotiating with the IRS. Daily provides perspective as to what will work in your favor and what you can do to prevent yourself from working against yourself.

A must-have for anyone who doesn't still live at home.
"Stand Up To The IRS" (SUIRS) is an absolute, no-question, don't even think twice, must-have for any taxpayer's household financal tool drawer. Clearly written and presented in short, bite-sized chunks by a successful longtime tax attorney who has been through it all many times, SUIRS is an impressively inclusive text that can go a long way toward leveling the audit playing field for taxpayers -- if not outright tipping it in their favor. Loaded with sample forms, letters and where-to-find-it tables, this book earns its cover price in the Index alone. If the location of the answer to your question isn't in there, you're probably not asking it correctly. And if you ever do get audited, Chapter 16 ("The 25 Most Frequently Asked Questions") will probably do more to calm your nerves and help you rest than any sleeping pill will. Mom and dad never taught you this stuff when you were growing up, because they didn't know it. So be a good son or daughter and give them their own copy. Besides, it just might come in handy some day, as described in chapter 9 ("Family, Friends, Heirs and the IRS"). ... Read more

Reviews (1)

Excellent "How To" advice
Using only the material contained in this book I negotiated (without the expense of lawyer, accountant or ex-IRS official) a fifteen cents on the dollar settlement of a past due account with the IRS. I found the advice clear and easy to follow. Bottom line: if you are having problems with the IRS this book is definitely worth buying and reading. ... Read more

Book Description

This practical guide to the probate process in Florida incorporates the most recent changes in the state's probate and estate administration laws and is divided into three main sections--Family Administration, Formal Administration and Summary Administration. The emphasis is on Family Administration, a simplified settlement procedure for estates of less than $60,000. New, easy-to-use, blank tear-out forms for all areas of administration are included in this edition. ... Read more

Amazon.com

If you're surprised by how much you pay in taxes every year, then maybe you should think about tax planning. Edward Lyon's 60-Minute Tax Planner focuses on making financial choices with tax consequences in mind. This highly readable guide focuses on dozens of financial concerns and their tax liability including, paying off your mortgage, choosing tax efficient investments, life insurance, claiming college tax credits, and retirement. ... Read more

Reviews (3)

A pleasure to read. An informative book, however...
...any well written and/or structured database is, just that. If one is truly interested in minimizing their tax burden(s) while simultaneously maximizing savings as well as unlimited income potential, a proactive, allencompassing opportunity is readily available.

A very useful book. It saved me money.
Unlike most attorney's, Ed Lyon gets right to what the reader wants from a tax advice book - how to save money.

Well laid out, useful, informative and even funny, I enjoyed this book as much as I found it helpful.

Doingyour taxes bites. It was nice to find a book that helped me bite back.

Finally, a readable tax book!
I was very impressed with how easily understandable this book is. I couldquickly find answers to my questions, and they were written in plainenglish without a lot of industry jargon. The tone was really refreshingfor such a dreaded subject. ... Read more

Book Description

Suze Orman, America's most trusted personal finance expert, gives you the guidance that will point you in the right direction every time you need to make a decision about your money.

Like a compass, the laws of money directs you to safety, security, and prosperity. They give you the ability to define your financial destiny and guide it with your own hands, so you can hold on to what you have and create what you deserve.

These laws are as timeless as they are timely. The Laws of Money, The Lessons of Life provides you with the solid financial foundation upon which you can stand, regroup, and build.

• Law Number 1. Truth Creates Money, Lies Destroy It.
• Law Number 2. Look at What You Have, Not at What You Had.
• Law Number 3. Do What Is Right for You, Before You Do What Is Right for Your Money.
• Law Number 4. Invest in the Known Before the Unknown.
• Law Number 5. Always Remember: Money Has No Power of Its Own.

Reviews (47)

I'm good enough, smart enough, and doggonit people like me!
This book is great for people who are inexperienced in handling finances. Suze lays forth ideology that should be followed if you are interested in having a good retirement and being able to provide for your family in the future. Many of the ideas presented in this book she states over and over again on her CNBC program The Suze Orman Show.

Some of the thinking put forth is plain common sense - such as realizing the damage that could result from building a high credit card debt. Some parts cause you to think about the financial implications beyond the obvious - such as the additional costs of owning a home.

Suze's books are geared towards individuals unfamiliar with the world of finance; people who shy away from words like "investing" and "interest rates". If you are starting off your life and intend to plan a financially prosperous future, definitely read this book. It could save much hardship in the future by giving you something to follow when making a major purchase such as a home, car, or college. It will help you plan your retirement. I would not recommend this book if you are financially competent and want to take your investments to the next level, such as diving into the stock market.

The additional pages in the back for writing notes and completing "exercises" did not intrigue me. But overall, the book was well written and Suze was able to bring her own personal parables into the book, making it an interesting read.

Extremely Helpful and Readable
Suze's book is full of hard hitting honesty, not only in her personal tidbits, but in providing the advice you need to follow in order to your financial life in order. Her laws are simple, but deeply thought out and when you read the book and really realize what the laws mean, you can easily relate them and apply them to your life. I understand that Suze may appear to be a marketing machine, but as someone who has met her, I can attest that she is genuine and truly cares about helping people gain control of their finances and get out of debt. After all, the cover price of this book is much cheaper in the long run than paying for advice from a random financial advisor. Suze has proven herself, time and time again, to be a savvy, smart, helpful resource for people who are willing to take the time to read her books and apply the lessons within to their own lives. This book is by far her best one yet and I believe it will quickly become a classic resource for anyone needing a solid finance guide.

"Truth creates money. Lies destroy it."
This book challenges the reader to seek honesty and reality in their investing; the book challenges the reader to find out where they are (realistically), what they want to achieve, and then make an honest and realistic financial plan to accomplish the changes. This is really the essence of the present book.

You need to construct an honest and realistic plan with good investment vehicles. So this book has a lot of the normal sound advise that people give but it has a series of questions and work sheets to you to construct a plan and to do some self examination - the closest thing to having the author actually there as a personal consultant.

I think this is one of her better books and cuts right to the core of the whole savings and planning approach.

Jack in Toronto

Packed With Knowledge!
Amid the slew of personal finance books on the market, Suze Orman's unique approach stands out. Although she has more than 20 years of financial experience and expertise, her books don't merely dispense advice from on high. Her monetary rules may be universal and timeless, but she describes them with the sympathetic voice of a best friend. Written in the aftermath of the collapse of the Internet bubble, her latest advice book aims to comfort shell-shocked investors who are facing huge losses. Orman's primary tactic is to remind readers that money is a means to an end, not an end in itself, and that decisions about money take place in a larger personal and spiritual context. To that end, a helpful workbook is included. We recommend this book to anyone who is wary of making financial decisions in today's unsettling market environment, as well as to those looking to sort out their financial priorities.

This is not going to be a popular review
Let me start off by saying that I respect Suze Orman and she has actually been of great help to me in understanding money. (See my "So you'd like to ... Save with Suze?" guide to the left of the page.) The main theme that runs through all of her works is that you define your money; your money does not define you. And I particularly appreciated THE LAWS OF MONEY, THE LESSONS OF LIFE for opening my eyes to the fact that financial power does not equal personal power. To the contrary, many wealthy people do not feel they have personal power. They feel trapped by their wealth (aw, what a burden that would be!) and are afraid to make their own decisions. So, Suze has been of great help to me in many regards, and I actually think of her every time I spend a dime of my own money.

On the other hand, I think that Suze Orman occasionally indulges in an incredibly simplistic view of money. Let's start with the first Law of Money she presents: "Truth creates money. Lies destroy it." Uh ... erm ... well ... this isn't exactly true if you look at the world from a historical perspective. Many wars have been founded on lies, with the result being great wealth to the lying victor and poverty to the conquered. There are too many examples in history for me to even choose just one. In other words, Suze loses me when she starts to try to fuse spirituality and economics. The underlying assumption of her work in this regard seems to suggest that if you are spiritually enlightened then you will always be financially sound; if you are plagued by financial problems then you are not as spiritually awakened as you could be. Take this logic a little further, and the assumption will be made that the rich are more spiritually aware than the poor. I don't think there's anything inherently unspiritual about being wealthy, nor do I believe that poor people are closer to God. I believe that economics plays no role in one's spiritual life. Suze presents a different view, often suggesting that we turn to God for financial advice.

Further, as an avid reader of the works of Noam Chomsky, I know that there is no such thing as free market capitalism. In UNDERSTANDING POWER, Noam Chomsky explains that on an economic level our system - and the system of just about all successful nations - is somewhere near fascism. He doesn't mean that all successful countries have gas chambers and concentration camps, but massive state intervention into the economy, and an economy kept stable by taxes. Chomsky elaborates to explain that what made the United States wealthy was the extermination of the indigenous population and the importation and use of Africans as slaves - which has nothing to do with free market capitalism. Chomsky says that textiles were the oil of that era. And in today's age, where oil is the main resource, oil prices are kept at an affordable level only by extreme international violence perpetrated by the United States government - which, again, has nothing to do with free market capitalism. Another interesting tidbit is that early in the 20th Century there was a movement throughout the United States to destroy public transportation and build highways, thus ensuring a huge market for oil in the US. Of course, the US consumes more oil than any other nation on earth. I realize now that Suze Orman's work is all based on the assumption that free market capitalism is very real, and that one need merely to open their eyes to the opportunities that are available. This is an incredibly naïve perspective. But it's inevitable that she would have this perspective because if she were to question or help the average person understand that our economic system is rigged, then she'd be out of a job. She'd never find a publisher, and no major network would allow her airtime.

So, to sum this up: Suze is of great help inasmuch as her advice to not gauge your self-worth on how much money you have, to not equate personal fortune with personal power. And she certainly knows her way around the economy as it is set up. But her approach is shallow and naïve when she attempts to teach about the nature of economics and to fuse spirituality and money.

And now you may commence with the neggies. ;)

Andrew Michael Parodi ... Read more

Book Description

A revised and expanded edition of the shocking study that changed the way we think of wealth in America. A work that sparked widespread controversy when it was first published, Top Heavy is acclaimed economist Edward N. Wolff's eloquent presentation of the facts of wealth inequality in the United States. In a completely revised and updated edition of the book the Boston Review hailed as "the leading contemporary study of the distribution of wealth," Wolff reveals the unprecedented rise in recent years of wealth inequality and shows how it is one of the major forces challenging democracy and economic opportunity in America. Wolff vividly illustrates how the gap between the haves and the have-nots in terms of wealth is greater now than at any time since 1929, immediately preceding the Great Depression. As the nation considers trillion-dollar tax cuts and the abolishment of the estate tax, Top Heavy takes a sobering look at how the wealth of the top 1% of households continues its heartstopping expansion while the current distribution of wealth in America invites the surprisingly apt comparison with the class-dominated societies of nineteenth-century Europe. Top Heavy will continue to be an essential reference point in any discussion of what an economically healthy America might look like. B/W charts and graphs throughout. ... Read more

Reviews (2)

the alarm has been sounded
This study of the distribution of wealth in America is disheartening indeed. Though it only surveys the economic scene until 1989 (a postscript brings it up to 1992), it is not hard to believe that things haven't changed much since then. Basically, it concludes that the gap between the rich and the poor has increased to a greater extent than at any time since before the Great Depression, and that the gap between the rich and the poor is greater than in most European countries.

Not only does this book outline the problem in detail, but it proposes a restructured tax system similar to that existing in many European countries, a tax system which would ease the burden on the poor, while placing little extra tax burdens on the rich-- and still raise billions more in tax revenue. Though this book is filled with statistical analyses, it is slim (fewer than a hundred pages), and those not mathematically inclined can skip to the conclusions here and there, which are written in clear, understandable prose. Well worth reading, and certain to be a wake-up call to anyone who has suspected that the middle class has been disappearing in this country.

Very Nice Survey of Wealth Inequality
Ed Wolff's book--a review of his earlier work on wealth, with some new additional material added--documents that the United States today is a more unequal society than at any time since the Great Depression.

According to his numbers--which are lousy, but are nevertheless the best we have or are likely to acquire-- in 1929 the richest one percent of households had about 41 percent of the economy's total wealth. But the leveling associated with the Depression and World War II had reduced the richest one percent's share to about 22 percent by 1945. Thereafter, the leveling trend continued. By the mid-1970s, the richest one percent's share--including the implicit value of rights and claims on the Social Security system. of total wealth was down to 13-16 percent of the economy's total wealth. But by the late 1980s, the richest one percent's' wealth was back up to 21 percent of the economy's total wealth. And scattered pieces of information suggest that the trend toward increasing inequality has continued into the 1990s.

Increasing inequality is not due to a surge in entrepreneurial activity: economic growth was unusually low in the 1980s (in substantial part because of the drain on investment resulting from the Reagan deficits). The fortunes made were, for the most part, not to any unusual extent the by-product of especially rapid economic growth.

Rising inequality is cause for alarm for two reasons: First, in a time of high inequality politics becomes nasty and democracy becomes less secure and stable. Second, an unequal economy--an economy in which the chances of striking it rich are larger and the chances of failing to maintain middle-class incomes are larger--fails to provide adequate social insurance. Risk-averse people would, if given a choice when young, overwhelmingly prefer to live in an equally rich overall but more equally distributed society. ... Read more

Book Description

A complete guide to help ministers prepare tax returns and plan their financial future. ... Read more

Book Description

ItsDeductible 2003, published annually, gives authoritative, fair-market values for charitable donations of clothing, household goods, and other items. Based strictly on IRS guidelines, the book eliminates guesswork and ensures a full tax deduction. Thousands of commonly donated items are valued in good, fair, and poor condition. For example, a stationary exercise bike in fair condition is valued at $123, while a dress in good condition is worth $28. Categories include Clothing, Jewelry, Baby Supplies, Consumer Electronics, Furniture, Tools, Sporting Goods, Toys, and more. Readers can also track monetary and property donations, out-of-pocket expenses, and mileage costs incurred while driving on behalf of a charity. Income Dynamics — the nationally recognized authority in assigning fair market values to thousands of commonly donated items — guarantees readers at least $300 in tax savings. ... Read more

Book Description

Get the Most Out of Giving with PricewaterhouseCoopers’ Guide to Charitable Giving

Private philanthropy is the cornerstone of charitable organizations in the United States. This support provides numerous benefits to society as well as a tax-efficient means for you, the donor, to transfer wealth. Understanding the tax implications of your donations can be confusing as well as financially detrimental if you do not have the proper guidance.

PricewaterhouseCoopers’ Guide to Charitable Giving addresses the many tax aspects of charitable giving by walking you through the rules of charitable giving and their relationship to your taxes. This indispensable guide explores different charitable giving alternatives, focusing on current gifts, deferred or planned gifts, gifts of income, annuities, and charitable bequests. It also covers the advantages and disadvantages of each type of gift, as well as funding alternatives and assets that may be utilized. The charitable giving strategies discussed are supplemented with essential forms, their instructions, and relevant IRS publications.

The charitable advice and strategies offered by PricewaterhouseCoopersprofessionals outline some of the best ways to give in a timely and tax-efficient manner. Take this opportunity to understand the tax implications of your charitable donations and learn how to get the most out of giving. ... Read more

Reviews (1)

Necessary reading at tax time
An infinite help for individual contributors to charities. In a completely up-to-date (includes information on September 11 charities) and easy to understand format, the book teaches the reader how to be socially responsible in their donations and also to save tax money during a trying economy. The charts, examples, and lists of deductible and non-deductible items were the most useful. ... Read more

Book Description

Since Robert A. Esperti and Renno L. Peterson's groundbreaking book, Loving Trust, was published in 1988, more and more people have chosen Living Trusts as a probate-free alternative to wills or conventional substitutes. Now in this revised edition, Esperti and Peterson, with David K. Cahoone, have updated and expanded this easy-to-use guide that explains everything you need to know about creating and implementing a Living Trust. This essential workbook will help you and your advisors design a trust tailored for your circumstances and wishes. In this workbook you will learn:

• what a Living Trust is, how it works, and how it will save you money and your family stress during a difficult time
• the role of a Living Trust in the event of disability
• how to place various properties, such as real estate, market accounts, and businesses into your Living Trust
• charts, checklists, worksheets, and sample forms with instructions on how to use them
• tips on choosing and working with a lawyer ... Read more

Book Description

• Detailed coverage of home-office tax laws and IRS rules
• Comprehensive information on deductible expenses
• Keep your records up to IRS standards
• Sample tax forms for easy filing

Tax/Personal Finance

THE ULTIMATE TAX GUIDE FOR THE ULTIMATE WORKPLACE!

The desire for independence, the rise in personal wealth, and, most significantly, the impact of the Internet have dramatically increased the number of home-based businesses. Along with this rapid growth comes a host of tax issues. This revised and updated edition of J.K. Lasser’s perennial guide answers home-based business owners’ questions, with a special focus on the changing tax laws and home-office deductions. Avoid costly mistakes and missed opportunities with the latest expert information offered in this invaluable resource.

Critical coverage will help you:

• Navigate the details of the new tax laws and IRS rules
• Increase your knowledge of deductible expenses
• Keep your records up to IRS standards
• Organize and run a home-based business for maximum tax benefits
• Make filing easy by utilizing sample tax forms

J.K. Lasser–Practical Guides for All Your Financial Needs

Please visit our Web site at jklasser.com ... Read more

Reviews (6)

Good Guide for checking tax rules
This is an excellent guide if you have questions regarding your own home-based business. You can find out what you can deduct and what you can not deduct all from this book.

Most Helpful Book I Bought Before I Started My Business
This book was OUTSTANDING. It completely and simply explained everything that I needed to know about taxes, expenses, etc. before I started my business. Most HIGHLY recommend that anyone considering starting a business purchase this book.

A practical guide that provides specific guidelines
Reverting back to my comments on Mr. Daily's( Tax Savvy For Small Businesses) and Mr. Kamoroff's(A Small time Operator)reviews, this book coupled with the two previously mentioned books, should provide an outstanding foundation to start off with, as far as what you should and must do to operate a small business when it concerns your tax liability.

This books concentration is based more on past precedents passed down by both the Appeals Courts and the Tax Courts, and what procedures can and cannot be implemented. Gives specific instruction in accordance with the IRC code, to follow and to determine what can be done to legally lower your tax liability.

This book is more legally technical than both books I mentioned above. While Daily's book gives you general examples of accounting procedures and legalities, Kamoroff book gets into the nuts and bolts of accounting procedures, along with a step by step guide to implement those procedures. These 3 books should be on every entrepenuer's shelf, for future reference and procedures.

The straight skinny on home based business
With the rise of the Internet, home based business becomes a real option for many professionals wanting to opt out of what the Wayne Campbell character in "Wayne's World" called "Joe jobs". But guess what? Uncle Sam isn't so happy about it because, working at home, he can't keep tabs on you so well. "Taxes Made Easy for Your Home-Based Business" guides you W-2-ites around the new uncharted territory of 1099-land.

It has detailed coverage of home office deductions, use of personal car, and reporting requirements. Readable, and realistic.

Excellent Book, belongs on all home office reference shelves
Anyone who has a home-based business or is contemplating starting one needs this book on their reference shelf. If you're like most home-based business owners, you have had numerous questions about when and how you can take tax deductions for your home office, supplies and equipment. You've probably wondered what paperwork had to be kept, what information it needed to show and how long you have to keep it as well, right? On top of those questions, there are the formidable IRS forms that need to be filled out properly in order to qualify for the deductions and avoid being audited. If this is you, get this book. You will not be disappointed.

Gary W. Carter, the book's author, has over 20 years of tax experience. He has worked as a revenue auditor, tax practitioner, and seminar leader on tax issues as they pertain to home-based businesses. In this book, he shares his expertise brilliantly with easy to understand, step by step explanations, examples and instructions.

Carter's combination of historical tax facts, court cases that have set precedence, and changes that will take affect in the coming years serve to give you a much better understanding of the entire system and your options within that system. His layman explanations of tax audits, accounting systems, record keeping, and "business" as it is defined by the IRS give you a wealth of information to belay your tax fears, and empower you with the knowledge you need to get the most out of tax time.

The very first chapter in the book covers IRS audits. It tells you how audits are done, what to expect and what rights you have. I was surprised to find the process is actually simple, direct and fairly non-threatening. From chapter two and on, Carter delves deeply into the information of the most importance to home-business owners. Topics include the legal definition of a business for tax purposes, allowable deductions and how to record and calculate them, business entity formations and the pros, cons and red tape associated with each, and more.

... Read more

Book Description

If you're in business for yourself, don't sell yourself short. Reap all the tax-saving benefits you deserve with this clear, concise, step-by-step guide that shows you exactly how to take advantage of every tax deduction allowable by law. Inside, you'll find all the facts the IRS doesn't want you to know, and glean all the advice you need to:

* Convert everyday living expenses into business deductions
* Audit-proof your tax return -- how to keep records that will satisfy the IRS
* Choose the form of entity that's best for you
* Utilize insider's tips on numerous deductions: your home office, business equipment, car, credit card interest, clothing, meals, entertainment, trips and vacations, and medical expenses
* Use hiring techniques that save you money
* Income shifting techniques -- make your family part of your tax shelter

Plus, you'll get invaluable insights into retirement plans for the self-employed, including IRAs, Keoghs, SEP and 401(k) plans, and much, much more. Packed with informative charts, worksheets, questionnaires, and self-tests, Keep Your Hard-Earned Money provides solid advice you can take to the bank. ... Read more

Reviews (1)

Spend Your Hard-Earned Money On Another Book
As an owner of a small business, I'm always reading and keeping up with the tax laws, and ways to implement legal tax avoidance strategies. I have read quite a few books on the subject. Mr. Fellman's book is technically accurate, however I had trouble with his "joking" style of writing. I suppose he is trying to make a dry subject more interesting, but I found the style to be condescending and that it sometimes made the material more confusing than it is. Yes, the tax laws are tangled, but I prefer to read without the joking, questionairre format. A more readable, straightforward book on the subject is Robert Cooke's Doing Business Tax Free. Also, for a true in-depth reference volume of the small business owner's tax avoidance options, I found it helpful to skim & reference the very thick, but very informative, How to Pay Zero Taxes by Jeff Schepper. ... Read more

Book Description

An award-winning TV investigative reporter shows you how to avoid being ripped off and keep your money where it belongs—in your wallet!

Every month Elisabeth Leamy gets hundreds of consumer calls on her tip line atthe Washington DC affiliate of Fox News. Consumers call in after losing hundreds or thousands of dollars to car dealers, mechanics, contractors, movers—you name it! As an investigative reporter Elisabeth has delved into all the scams and now puts what she has learned into this invaluable resource. "The Savvy Consumer" shows readers how to spar with car salesmen, how to avoid paying crooked mechanics, and ways to bargain down closing costs when you buy a house. Elisabeth explains how to keep a mover from holding your belongings hostage and what your rights are if you’re a renter.She reveals the single step that makes collection agents go away and easy ways you can instantly improve your credit score. Want to find unclaimed money? Bid for bargains at a government auction? Want to make telemarketers stop calling and junk mail stop coming? What are the most common scams and how can you avoid them? It’s all in "The Savvy Consumer," along with more than a hundred other topics. Elisabeth educates readers by sharing anecdotes about real consumers and their struggles. She explains the signs to look out for, the questions to ask, how to do your homework, and where to complain. There are hundreds of books about making money. This book is about keeping your hard-earned cash. ... Read more

Reviews (6)

I thought I was a tough customer!
Superb. Marvelous. Courageous. Necessary. Useful. Indispensable. Without doubt, the most cherishable gift one can give anyone one cares about.

I *thought* I was Savvy
This book is a must-have reference for the home to be pulled out often. I thought I was a savvy consumer, but this book contains tips and reveals scams that ONLY an investigative reporter could uncover. Truly a great guide for all of the major investments in life: home and car buying, home and car repairing, buying insurance, etc. And it also gives great tips on everyday scams that we just don't have time to check up on. (Did you know that there's help to block junk mail and credit card offers???)

Excellent book
Elisabeth Leamy genuinely wants to help and prevent people from getting scammed. Her book is honest, real, and VERY easy to follow. It's consistent, and I appreciated that the most. Each chapter has sections like "know the signs," "do your homework," and "where to complain," which is really great for someone like myself. I'm a senior in college who has relied on mom and dad for way too long, and this book will definitely keep me informed and out of trouble. I loved the book! I recommend this book to anyone who appreciates consistency, good content, and honesty.

Useful --yet entertaining!
I love the way The Savy Consumer by Elizabeth Leamy is layed out. All you have to do is read a couple pages to get the info you need on a topic. I've already read the ones about getting rid of junk mail, getting a good deal on a car, and making collection agents stop calling. I learned a lot and you will too!

Easy to Digest and Very Helpful
Every consumer should be armed with this weapon! The book is very user-friendly and very comprehensive. The author writes in a way that readers can easily understand. This is a book that you can purchase and refer back to for the rest of your life. I've watched the author's reports on TV for some time now and I think she's the best reporter in the business. What a bonus to get her work in print! If you purchase one buyer-beware book, make it "The Savvy Consumer". ... Read more