How to pay zero taxes, 2020-2021 : your guide to every tax break the IRS allows! / Jeff A. Schnepper.

By:

Schnepper, Jeff A

Material type: Text

TextPublisher: New York, New York : McGraw Hill Education, [2020]Edition: Thirty-seventh Edition, 2020-2021 EditionDescription: xv, 908 pages : illustrations ; 27 cmISBN:

9781260461701

Subject(s):

Summary: Hundreds of tips and techniques to preserve your income through exclusions, credits, deductions, shelters, and smart investments.

Average rating: 0.0 (0 votes)

Holdings
Item type	Current library	Collection	Shelving location	Call number	Status	Notes	Date due	Barcode	Item holds
Adult Book	Phillipsburg Free Public Library	Adult Non-Fiction	Adult Non-Fiction	343.7305 SCH	Available	pap.ed.		36748002467316

Total holds: 0

Enhanced descriptions from Syndetics:

Save BIGGER THAN EVER with this fully updated edition of the classic tax-saving guide!

Tax whiz Jeff Schnepper has been helping ordinary taxpayers dramatically lower their tax bills for decades. Now, Schnepper brings his classic guide up to date for the coming tax season.

Presented in language anyone can understand, How to Pay Zero Taxes 2020-2021 delivers everything you need to take full advantage of the newest tax laws--and pay the IRS less than ever before. Schnepper uncovers hundreds of sanctioned deductions, shelters, credits, and exemptions and provides invaluable tax tips you'll only find here. You'll learn how to navigate the tax code like a pro and save the maximum legal amounts on:

* Capital gains and dividends
* IRA and retirement plans
* Converting personal expenses into deductible business expenses
* Charitable deductions
* Child care and elder care
* Moving and job-hunting expenses
* Mortgages and points
* Investment expenses

Every April, thousands of people around the country pay far more than they have to. Don't give the IRA one dollar more than the law requires. Use How to Pay Zero Taxes 2020-2021 to keep more of your hard-earned money in your own pocket.

Includes index.

"Everything you need to know to benefit from the most current tax laws"--Cover.

Hundreds of tips and techniques to preserve your income through exclusions, credits, deductions, shelters, and smart investments.

Table of contents provided by Syndetics

Acknowledgments (p. xv)
Chapter 1 Tax insanity (p. 1)
Chapter 2 Is It Legal? (p. 57)
Chapter 3 How Our Tax System Works (p. 63)
Chapter 4 Exclusions-Tax-Free Money (p. 69)
A Alternatives to "Earned Income" (p. 71)
1 Hospitalization Premiums (p. 71)
2 Group Life Insurance Premiums (p. 72)
3 Group Legal Services Plans (p. 74)
4 Accident and Health Plans (p. 74)
5 Employee Death Benefits (p. 75)
6 Merchandise Distributed to Employees on Holidays (p. 75)
7 "Expenses of Your Employer" (p. 76)
8 Meals and Lodgings (p. 76)
9 Employee Discounts (p. 78)
10 Workers' Compensation (p. 78)
11 "Cafeteria" Plans and Flexible Spending Accounts (p. 79)
12 Dependent Care Assistance Program (p. 79)
13 Employer Educational Assistance (p. 81)
14 Employee Awards (p. 82)
15 Clergy Housing Allowance (p. 84)
16 Miscellaneous Fringe Benefits (p. 85)
B Donative Items (p. 85)
17 Gifts, Bequests, and Inheritances (p. 85)
18 Scholarships and Fellowships (p. 86)
19 Prizes and Awards (p. 88)
20 Qualified Charitable Distributions (QCDs) (p. 90)
C Investors (p. 91)
21 Interest on State and Municipal Obligations (p. 91)
D Benefits for the Elderly (p. 92)
22 Public Assistance Payments (p. 92)
23 Social Security and Other Retirement Benefits (p. 92)
24 Annuities (p. 95)
25 Sale of Your Home (p. 98)
E Miscellaneous Individual Exclusions (p. 99)
26 Carpool Receipts (p. 99)
27 Damages (p. 100)
28 Divorce and Separation Arrangements (p. 108)
29 Life Insurance (p. 111)
30 Qualified State Tuition (§529) Programs (p. 113)
31 Your Home-The Mother of All Tax Shelters! (p. 124)
32 Disabled Veteran Payments (p. 128)
33 Exclusion of Income for Volunteer Firefighters and Emergency Medical Responders (p. 128)
34 Unemployment Benefits (p. 128)
35 Homeowner Security (p. 128)
36 Reimbursed Costs to Parents of Children with Disabilities (p. 129)
37 Wrongful Conviction and Incarceration (p. 129)
38 Restitution Payments (p. 129)
39 Frequent Flier Miles (p. 129)
40 Hurricane Sandy (p. 130)
41 Cancellation of Indebtedness (p. 130)
42 Medicaid Payments for Foster Care of Related Individuals (p. 130)
43 ABLE Accounts (p. 131)
44 Foreign Earned Income Exclusion (p. 132)
F Schedule of Excludable Items (p. 132)
Chapter 5 Credits-Dollar-for-Dollar Tax Reductions (p. 135)
A Estimated Tax and Withholding Exemptions (p. 136)
B Credits (p. 139)
45 Refundable The Earned Income Credit (p. 139)
46 Excess Social Security Tax (p. 142)
47 The Child and Dependent Care Credit (p. 143)
48 Credit for the Elderly or Permanently and Totally Disabled (p. 149)
G Special Credits (p. 151)
49 Work Opportunity Credit (Formerly Targeted Jobs Tax Credit) (p. 151)
50 Welfare to Work Credit (p. 155)
51 Research Tax Credit (p. 155)
52 Orphan Drug Tax Credit (p. 156)
53 Adoption Assistance (p. 156)
54 Hope Scholarship Credit (p. 158)
55 American Opportunity Tax Credit (p. 159)
56 Lifetime Learning Credit (p. 160)
57 Child Tax Credit (p. 160)
58 Disability Credits (p. 161)
59 Health Insurance Credit (p. 162)
60 Saver's Credit (p. 162)
61 Small Employer Credit (p. 163)
62 Electric Vehicle Credit (p. 164)
63 Credit for Residential Energy Efficient Property (p. 164)
64 Energy Saving Home Improvement Credit (p. 165)
65 Hybrid Vehicles Credit (p. 166)
66 Telephone Tax Refund (p. 168)
67 First-Time Home Buyer Credit (p. 168)
68 "Making Work Pay" Tax Credit (p. 169)
69 Plug-in Electric Drive Vehicle Credit (p. 170)
70 Plug-in Electric Vehicle Credit (p. 173)
71 Conversion Kits (p. 173)
72 Treatment of Alternative Motor Vehicle Credit as a Personal Credit Allowed against AMT (p. 173)
73 Small Business Health Insurance Credit (p. 174)
74 Small Business Health Care Credit (p. 174)
75 Foreign Tax Credit (p. 175)
76 The Premium Tax Credit (p. 175)
77 Employer Credit for Family and Medical Leave Benefits (p. 179)
Chapter 6 "Above the Line" Deductions (p. 181)
A Deductions for Adjusted Gross Income (p. 185)
78 Trade and Business Deductions (p. 185)
79 Employee Business Expenses of Actors and Other Performing Artists (p. 186)
80 Employee Business Expenses (p. 187)
81 Alimony (p. 187)
82 Interest on Qualified Education Loans (p. 196)
83 Retirement Plan Payments (p. 196)
84 Self-Employment Tax (p. 258)
85 Health Insurance Deduction for Self-Employeds (p. 258)
86 Moving Expenses-Old Law (p. 259)
87 Clean Fuel Vehicles (p. 266)
88 Deduction for Qualified Higher Education Expenses-Tuition and Fees (p. 266)
89 Legal Fees (p. 268)
90 Classroom Materials (p. 268)
91 Medical Savings Accounts (Archer Medical Savings Accounts) (p. 268)
92 Health Savings Accounts (p. 270)
93 Sales Tax Deduction on Motor Vehicles (p. 273)
Chapter 7 "Below the Line" Deductions (p. 279)
A The Importance of Filing Status (p. 280)
B Tax Planning with Itemized Deductions (p. 285)
94 Medical Expenses (p. 285)
95 Income Taxes (p. 300)
96 Real Property Taxes (p. 302)
97 Personal Property Taxes (p. 303)
98 Interest (p. 304)
99 Mortgage Insurance (p. 324)
100 Charitable Contributions (p. 324)
101 Casualty Losses (p. 347)
102 Theft Losses (p. 351)
103 Miscellaneous Trade and Business Deductions of Employees (p. 359)
104 Job Loss Insurance (p. 360)
105 Travel Expenses (p. 360)
106 Transportation Expenses (p. 365)
107 Meals and Entertainment Expenses (p. 370)
108 Gifts (p. 371)
109 Reimbursable Employee Business Expenses (p. 373)
110 Educational Expenses (p. 373)
111 Limit on Itemized Deductions (p. 375)
C Schedules of Deductions (p. 376)
112 Medical Deductions (p. 376)
113 Deductible Taxes (p. 377)
114 Charitable Deductions (p. 378)
115 Casualty and Theft Loss Deductions (p. 379)
116 Miscellaneous Deductions (p. 380)
117 Employee Miscellaneous Deductions (p. 380)
118 Investor Deductions (p. 381)
Chapter 8 Traditional Tax Shelters (p. 383)
A Deferral and Leverage (p. 398)
119 Real Estate (p. 399)
120 Fees in Public Real Estate Partnerships (p. 411)
121 Oil and Gas (p. 412)
122 Equipment Leasing (p. 421)
123 Single-Premium Life Insurance (p. 425)
124 Cattle Feeding Programs (p. 429)
125 Cattle Breeding Programs (p. 431)
126 Tax Straddles (p. 433)
127 Art Reproduction (p. 435)
128 Noncash Gift Shelters (p. 436)
129 Municipal Bond Swaps (p. 437)
B How to Analyze a Tax Shelter (p. 438)
130 Getting Out of the Tax Shelter (p. 440)
131 Master Limited Partnerships (p. 442)
132 Abusive Shelters (p. 444)
Chapter 9 Super Tax Shelters (p. 447)
A Family Shifts (p. 448)
133 Unearned Income of Minor Children (p. 451)
134 Outright Gifts (p. 455)
135 Clifford Trusts (p. 460)
136 Interest-Free Loans (p. 460)
137 The Schnepper Shelter: Gift Leasebacks (p. 460)
138 The Schnepper Deep Shelter (p. 466)
139 Family Partnerships (p. 466)
140 Family Trusts (p. 467)
141 The Schnepper Malagoli Super Shelter (p. 468)
142 Employing Members of the Family (p. 470)
143 Author's Delight (p. 473)
B Running Your Own Business (p. 474)
144 Your Home (p. 477)
145 Your Car (p. 490)
146 Meals and Entertainment (p. 492)
147 Travel and Vacation (p. 497)
148 Gifts (p. 502)
149 Advertising (p. 503)
150 Deductible Clothes (p. 503)
151 Creative Deductions-Busting the IRS (p. 504)
152 Medical Premiums (p. 504)
153 Borrowing from Your Company (p. 504)
154 Miscellaneous Corporate Advantages (p. 507)
Chapter 10 Investment Planning to Save Taxes (p. 511)
155 Short Sales (p. 518)
156 Broad-Based Index Options and Regulated Futures Contracts (RFCs) (p. 519)
157 Wash Sales (p. 519)
158 Premiums on Taxable and Tax-Exempt Bonds (p. 520)
159 Original Issue Discount (OID)-Taxable Bonds (p. 520)
160 Original Issue Discount (OID)-Tax-Exempt Bonds (p. 520)
161 Market Discount (p. 521)
162 Municipal Bond Swaps (p. 521)
163 Employee Options-Nonqualified (p. 522)
164 Incentive Stock Options (p. 523)
165 Year-End Stock Sales (p. 528)
166 Fund Strategies (p. 528)
167 Dividends (p. 529)
168 Tax-Exempt Income (p. 533)
169 Old Prices (p. 536)
170 Alternative Minimum Tax for Individuals (p. 536)
171 U.S. Savings Bond Exclusion (p. 550)
172 Madoff Losses (p. 552)
173 Collars-Tax Free Lock in Your Gain (p. 553)
Chapter 11 Last-Minute Tax Planning (p. 555)
174 Defer Taxes (p. 556)
175 Accelerate Expenses (p. 558)
176 Accelerate Special Deductions (p. 559)
177 Dependents and Personal Exemptions (p. 559)
178 Phase-out of Exemptions (p. 563)
179 Timing Strategies (p. 565)
180 Retirement Plans (p. 565)
181 Individual Retirement Plans (IRAs) (p. 566)
182 H.R. 10 or Keogh Plans (p. 566)
183 Marital Status (p. 567)
184 The Goldinger Deferral (p. 568)
Chapter 12 More Tax Changes (p. 569)
A The Patient Protection and Affordable Care Act (p. 570)
B Small Business Jobs Act of 2010 (p. 573)
C The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (p. 575)
D American Tax Relief Act of 2012 (p. 581)
E Tax Increase Prevention Act of 2014 (p. 584)
F The ABLE Act (p. 586)
G More Changes (p. 587)
H The Tax Cuts and Jobs Act of 2017 (p. 591)
I The Budget Deal Passed on February 9, 2018 (p. 607)
Chapter 13 How to Avoid/Survive an IRS Audit (p. 611)
Appendix A Cost Recovery/Depreciation (p. 765)
Appendix B Business Use of "Listed Property" (p. 777)
Appendix C Auto Leases (p. 793)
Index (p. 859)