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J.K. Lasser's Your Income Tax 2007: For Preparing Your 2006 Tax Return

J.K. Lasser's Your Income Tax 2007: For Preparing Your 2006 Tax Return

J.K. Lasser Institute

ISBN: 978-0-470-10596-2

Feb 2007

848 pages

Select type: E-Book

$11.99

Description

Written by a team of tax specialists, J.K. Lasser’s Your Income Tax 2007 is the nation’s all-time top-selling tax guide. It’s filled with expert advice and guidance—including over 2,500 easy-to-follow tax tips and strategies—that will help you plan and file your 2006 tax return in the most efficient way possible.
Form 1040 with references to Your Income Tax 2007.

Form 1040 with references to Your Income Tax 2007.

What’s New for 2006.

Key Tax Numbers for 2006.

Looking Ahead to Tax Changes for Years After 2006.

FILING BASICS.

Do You Have To File a 2006 Tax Return?

Filing Tests for Dependents: 2006 Returns.

Where To File.

Key to Service Center Map.

Filing Deadlines (on or Before).

Choosing Which Tax Form to File.

1 Filing Status.

REPORTING YOUR INCOME.

2 Taxable Wages, Salary, and Other Compensation.

3 Fringe Benefits.

4 Dividend and Interest Income.

5 Reporting Property Sales.

6 Tax-Free Exchanges of Property.

7 Retirement and Annuity Income.

8 IRAs.

9 Income From Rents and Royalties.

10 Loss Restrictions: Passive Activities and At-Risk Limits.

11 Other Income.

CLAIMING DEDUCTIONS.

13 Claiming the Standard Deduction or Itemized Deductions.

14 Charitable Contribution Deductions.

15 Itemized Deduction for Interest Expenses.

16 Deductions for Taxes.

17 Medical and Dental Expense Deductions.

18 Casualty and Theft Losses and Involuntary Conversions.

19 Deducting Job Costs and Other Miscellaneous Expenses.

20 Travel and Entertainment Expense Deductions.

21 Personal Exemptions.

PERSONAL TAX COMPUTATIONS.

22 Figuring Your Regular Income Tax Liability.

23 Alternative Minimum Tax (AMT).

24 Computing the “Kiddie Tax” for Children Under Age 18.

25 Personal Tax Credits Reduce Your Tax Liability.

26 Tax Withholdings.

27 Estimated Tax Payments.

TAX PLANNING.

28 Tax Planning Overview.

29 Tax Savings for Residence Sales.

30 Tax Savings for Investors in Securities.

31 Tax Savings for Investors in Real Estate.

32 Tax Pointers for Investors in Mutual Funds.

33 Educational Tax Benefits.

34 Special Tax Rules for Senior Citizens.

35 Members of the Armed Forces.

36 How To Treat Foreign Earned Income.

37 Planning Alimony and Marital Settlements.

38 Household Employment Taxes (“Nanny Tax”).

39 Gift and Estate Tax Planning.

BUSINESS TAX PLANNING.

40 Income or Loss From Your Business or Profession.

41 Retirement Plans for Self-Employed.

42 Claiming Depreciation Deductions.

43 Deducting Car and Truck Expenses.

44 Sales of Business Property.

45 Figuring Self-Employment Tax.

FILING YOUR RETURN AND WHAT HAPPENS AFTER YOU FILE.

46 Filing Your Return.

47 Filing Refund Claims, and Amended Returns.

48 If the IRS Examines Your Return.

SAMPLE 2006 TAX FORMS AND TABLES.

GLOSSARY.

INDEX.