Weltman, an attorney and small-business tax expert, aims with these guides to help both individual taxpayers and businesspersons understand, organize, and plan for tax season. Individuals will find straightforward help in 1001 Deductions & Tax Breaks, whose chapters cover deductions related to medical expenses, travel, real estate, investments, loans, automobiles, and more. Weltman explains each potential benefit in terms of the conditions for qualification, the planning required, possible pitfalls, and where to claim the benefit. New tax-law alerts appear throughout the text.
In Small Business Taxes, Part 1 covers business forms and the effect a business's choice of form has on tax obligations as well as instructs on record-keeping requirements to ensure eligibility for deductions and credits. Part 2 discusses the reporting of business income; Part 3 is a primer on deductions; and Part 4 addresses strategic planning (e.g., how to avoid common mistakes when claiming deductions).
Each book has been revised to reflect changes in the tax law, and there is also an online updating service through the J.K. Lasser web site (www.jklasser.com). Both editions' use of everyday examples, illustrative charts, and checklists helps make complex rules accessible. Recommended for public libraries. (Library Journal, February 1, 2008)