J. K. Lasser's Your Income Tax 2005 : For Preparing Your 2004 Tax Return

by J.K. Lasser InstituteTM

• ISBN13: 9780471647751
• ISBN10: 0471647756
• Edition: 1st
• Format: Paperback
• Copyright: 2005-01-01
• Publisher: WILEY

Summary

America's number one bestselling tax guide offers the best balance of thoroughness, organization, and usability For more than half a century, over 38 million 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 2005 includes all the outstanding features that have made this book the nation's all-time top-selling tax guide. Your Income Tax 2005 is the book of choice for serious taxpayers who want to pay less on their taxes. Special features include: Usable tax forms Over 2,500 easy-to-use tax planning tips and strategies Easy-to-understand coverage of the year's tax law changes Filing tips and instructions to help you prepare your 2004 return Quick reference section that highlights what's new for 2004 Quick topic index to help pinpoint the biggest money-saving deductions Advice for customers whose use software or CPAs to file their taxes Plus as a new added benefit, J.K. Lasser's YIT 2005 customers gain unlimited free access to numerous new online value-added bonuses at jklasser.com, including: Latest breaking tax news and law changes that could affect the amount of money you can save Answers to all of your tax questions in "Ask J.K. Lasser" Publication 17-the official IRS document that provides directions for personal tax filing for individuals-available in its entirety The latest tax forms from the IRS, which are instantly updated the moment an IRS change becomes official Interactive forms that can be filled out via computer, printed, and mailed in, saving you time and ink Links to online forms for filing your state taxes 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 38,000,000 people. J.K. Lasser Institute spokespeople are regularly sought after as media tax experts. They regularly appear on such networks as CNBC, CNN, and Bloomberg and are featured in such publications as The Wall Street Journal, USA Today, Self Magazine, Houston Chronicle, the Chicago Tribune, and many more.

Table of Contents

Form 1040 with references to Your Income Tax 2005	p. iv
What's New For 2004	p. xxv
Key Tax Numbers for 2004	p. xxviii
Looking Ahead to Tax Changes for Years After 2003-4	p. xxx
Filing Basics	p. 1
Filing Status	p. 9
Reporting Your Income	p. 33
Taxable Wages, Salary, and Other Compensation	p. 35
Fringe Benefits	p. 52
Dividend and Interest Income	p. 73
Reporting Property Sales	p. 102
Tax-Free Exchanges of Property	p. 137
Retirement and Annuity Income	p. 150
IRAs	p. 182
Income from Rents and Royalties	p. 218
Loss Restrictions: Passive Activities and At-Risk Limits	p. 234
Other Income	p. 259
Claiming Deductions	p. 275
Deductions Allowed in Figuring Adjusted Gross Income	p. 277
Claiming the Standard Deduction or Itemized Deductions	p. 288
Charitable Contribution Deductions	p. 297
Itemized Deduction for Interest Expenses	p. 317
Deductions for Taxes	p. 331
Medical and Dental Expense Deductions	p. 338
Casualty and Theft Losses and Involuntary Conversions	p. 355
Deducting Job Costs and Other Miscellaneous Expenses	p. 378
Travel and Entertainment Expense Deductions	p. 392
Personal Exemptions	p. 417
Personal Tax Computations	p. 433
Figuring Your Regular Income Tax Liability	p. 435
Alternative Minimum Tax (AMT)	p. 438
Computing the "Kiddie Tax" for Children Under Age 14	p. 447
Personal Tax Credits Reduce Your Tax Liability	p. 453
Tax Withholdings	p. 469
Estimated Tax Payments	p. 476
Personal Tax Savings Plans	p. 481
Tax Planning	p. 483
Tax Savings for Residence Sales	p. 487
Tax Savings for Investors in Securities	p. 502
Tax Savings for Investors in Real Estate	p. 528
Tax Pointers for Investors in Mutual Funds	p. 541
Gift Planning and Life Insurance	p. 550
Special Rules for Senior Citizens	p. 558
Members of the Armed Forces	p. 567
How to Treat Foreign Earned Income	p. 574
Planning Alimony and Marital Settlements	p. 586
Educational Tax Benefits	p. 593
Estate Taxes	p. 610
Business Tax Planning	p. 615
Income or Loss From Your Business or Profession	p. 617
Retirement Plans for Self-Employed	p. 641
Claiming Depreciation Deductions	p. 648
Deducting Automobile Expenses	p. 666
Sales of Business Property	p. 681
Figuring Self-Employment Tax	p. 687
Filing Your Return and What Happens After You File	p. 695
Filing Your Return	p. 697
How Tax Data Is Processed by the IRS	p. 709
IRS Tax Audits	p. 716
Filing Refund Claims, and Amended Returns	p. 723
Index	p. 727
Index (Parts 1-7)	p. 959
2004 Tax Table, Tax Computation Worksheet, Earned Income Credit Table	p. 717
Tax Table	p. 750
Tax Rate Schedules	p. 762
Earned Income Credit Table	p. 763
2004 Tax Forms	p. 769
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