J.K. Lasser's Your Income Tax 2005

Name: J.K. Lasser's Your Income Tax 2005 | For Preparing Your 2004 Tax Return
Brand: Wiley
Price: 11.99 EUR
Availability: OnlineOnly

For Preparing Your 2004 Tax Return

J.K. Lasser Institute(Autor*in)

Wiley (Verlag)

Erschienen am 16. Februar 2005

832 Seiten

E-Book

PDF mit Adobe-DRM

Systemvoraussetzungen

978-0-471-71669-3 (ISBN)

11,99 €inkl. 7% MwSt.

Systemvoraussetzungen

für PDF mit Adobe-DRM

E-Book Einzellizenz

Als Download verfügbar

Beschreibung

America's number one bestselling tax guide offers the bestbalance of thoroughness, organization, and usability
For more than half a century, over 38 million Americans haveturned to J.K. Lasser for easy-to-follow, expert advice andguidance on planning and filing their taxes. Written by a team oftax specialists, J.K. Lasser's Your Income Tax 2005 includesall the outstanding features that have made this book thenation's all-time top-selling tax guide. Your Income Tax 2005is the book of choice for serious taxpayers who want to pay less ontheir 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 lawchanges
* Filing tips and instructions to help you prepare your 2004return
* Quick reference section that highlights what's new for2004
* Quick topic index to help pinpoint the biggest money-savingdeductions
* Advice for customers whose use software or CPAs to file theirtaxes
Plus as a new added benefit, J.K. Lasser's YIT 2005customers gain unlimited free access to numerous new onlinevalue-added bonuses at jklasser.com, including:
* Latest breaking tax news and law changes that could affect theamount of money you can save
* Answers to all of your tax questions in "Ask J.K. Lasser"
* Publication 17-the official IRS document that providesdirections for personal tax filing for individuals-availablein its entirety
* The latest tax forms from the IRS, which are instantly updatedthe 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 consumertax guides since 1939, when Jacob Kay Lasser first published YourIncome Tax. Since then, the guide has been published continuouslyfor over 60 years and read by over 38,000,000 people. J.K. LasserInstitute spokespeople are regularly sought after as media taxexperts. They regularly appear on such networks as CNBC, CNN, andBloomberg and are featured in such publications as The Wall StreetJournal, USA Today, Self Magazine, Houston Chronicle, the ChicagoTribune, and many more.

Weitere Details

Weitere Ausgaben

Inhalt

Intro
J.K. LASSER'ST YOUR INCOME TAX 2005
How to Use Your Income Tax 2005
Contents Chapter by Chapter
Form 1040 with references to Your Income Tax 2005
What's New For 2004
Key Tax Numbers for 2004
Looking Ahead to Tax Changes for Years After 20034
PART 1 FILING BASICS 1
Do You Have to File a 2004 Tax Return?
Filing Tests for Dependents: 2004 Returns
Where to File
Filing Deadlines
Choosing Which Tax Form To File
1 Filing Status
1.1 Which Filing Status Should You Use?
1.2 Tax Rates Based on Filing Status
1.3 Filing Separately Instead of Jointly
1.4 Filing a Joint Return
1.5 Nonresident Alien Spouse
1.6 Community Property Rules
1.7 Innocent Spouse Rules
1.8 Separate Liability Election for Former Spouses
1.9 Equitable Relief
1.10 Death of Your Spouse in 2004
1.11 Qualifying Widow(er) Status If Spouse Died in 2003 or 2002
1.12 Qualifying as Head of Household
1.13 Filing for Your Child
1.14 Return for Deceased
1.15 Return for an Incompetent Person
1.16 How a Nonresident Alien Is Taxed
1.17 How a Resident Alien Is Taxed
1.18 Who Is a Resident Alien?
1.19 When an Alien Leaves the United States
1.20 Expatriation Tax
PART 2 REPORTING YOUR INCOME
2 Taxable Wages, Salary, and Other Compensation
2.1 Salary and Wage Income
2.2 Constructive Receipt of Year-End Paychecks
2.3 Pay Received in Property Is Taxed
2.4 Gifts From Employers
2.5 When Commissions Are Taxed
2.6 Unemployment Benefits Are Taxable
2.7 Strike Pay Benefits and Penalties
2.8 Deferring Tax on Pay
2.9 Did You Return Wages Received in a Prior Year?
2.10 Waiver of Executor's and Trustee's Commissions
2.11 Insurance Plans May Be Tax Free
2.12 Educational Benefits for Employees' Children
2.13 Sick Pay Is Taxable
2.14 Workers' Compensation Is Tax Free
2.15 Disability Pensions
2.16 Stock Appreciation Rights (SARs)
2.17 Stock Options
2.18 Restricted Stock
3 Fringe Benefits
3.1 Tax-Free Health and Accident Coverage Under Employer Plans
3.2 Health Savings Accounts (HSAs) and Archer MSAs
3.3 Payments From Employer Health and Accident Plans May Be Tax Free
3.4 Group-Term Life Insurance Premiums
3.5 Dependent Care Assistance
3.6 Adoption Benefits
3.7 Education Assistance Plans
3.8 Company Cars, Parking, and Transit Passes
3.9 Working Condition Fringe Benefits
3.10 De Minimis Fringe Benefits
3.11 Employee Achievement Awards
3.12 Employer-Furnished Meals or Lodging
3.13 Minister's Rental or Housing Allowance
3.14 Cafeteria Plans Provide Choice of Benefits
3.15 Flexible Spending Arrangements
3.16 Company Services Provided at No Additional Cost
3.17 Discounts on Company Products or Services
4 Dividend and Interest Income
4.1 Qualified Corporate Dividends Taxed at Favorable Capital Gain Rates
4.2 Dividends From a Partnership, S Corporation, Estate, or Trust
4.3 How Mutual-Fund Distributions Are Taxed
4.4 Real Estate Investment Trust (REIT) Dividends
4.5 Taxable Dividends of Earnings and Profits
4.6 Stock Dividends on Common Stock
4.7 Dividends Paid in Property
4.8 Taxable Stock Dividends
4.9 Who Reports the Dividends
4.10 Year Dividends Are Reported
4.11 Distribution Not Out of Earnings: Return of Capital
4.12 Reporting Interest on Your Tax Return
4.13 Interest on Frozen Accounts Not Taxed
4.14 Interest Income on Debts Owed to You
4.15 Reporting Interest on Bonds Bought or Sold
4.16 Forfeiture of Interest on Premature Withdrawals
4.17 Amortization of Bond Premium
4.18 Discount on Bonds
4.19 Reporting Original Issue Discount (OID) on Your Return
4.20 Reporting Income on Market Discount Bonds
4.21 Discount on Short-Term Obligations
4.22 Stripped Coupon Bonds and Stock
4.23 Sale or Retirement of Bonds and Notes
4.24 State and City Interest Generally Tax Exempt
4.25 Taxable State and City Interest
4.26 Tax-Exempt Bonds Bought at a Discount
4.27 Treasury Bills, Notes, and Bonds
4.28 Interest on U.S. Savings Bonds
4.29 Deferring U.S. Savings Bond Interest
4.30 Minimum Interest Rules
4.31 Interest-Free or Below-Market-Interest Loans
4.32 Minimum Interest on Seller-Financed Sales
5 Reporting Property Sales
5.1 Tax Pattern of Property Sales
5.2 How Property Sales Are Classified and Taxed
5.3 Capital Gains Rates and Holding Periods
5.4 Capital Losses and Carryovers
5.5 Capital Losses of Married Couples
5.6 Losses May Be Disallowed on Sales to Related Persons
5.7 Deferring or Excluding Gain on Small Business Stock Investment
5.8 Sample Entries of Capital Asset Sales on Schedule D
5.9 Counting the Months in Your Holding Period
5.10 Holding Period for Securities
5.11 Holding Period for Real Estate
5.12 Holding Period for Gifts, Inheritances, and Other Property
5.13 Calculating Gain or Loss
5.14 Amount Realized Is the Total Selling Price
5.15 Finding Your Cost
5.16 Unadjusted Basis of Your Property
5.17 Basis of Property You Inherited or Received as a Gift
5.18 Joint Tenancy Basis Rules for Surviving Tenants
5.19 Allocating Cost Among Several Assets
5.20 How To Find Adjusted Basis
5.21 Tax Advantage of Installment Sales
5.22 Figuring the Taxable Part of Installment Payments
5.23 Electing Not To Report on the Installment Method
5.24 Restriction on Installment Sales to Relatives
5.25 Contingent Payment Sales
5.26 Using Escrow and Other Security Arrangements
5.27 Minimum Interest on Deferred Payment Sales
5.28 Dispositions of Installment Notes
5.29 Repossession of Personal Property Sold on Installment
5.30 Boot in Like-Kind Exchange Payable in Installments
5.31 "Interest" Tax on Sales over $150,000 plus $5 Million Debt
5.32 Worthless Securities
5.33 Tax Consequences of Bad Debts
5.34 Four Rules To Prove a Bad Debt Deduction
5.35 Family Bad Debts
6 Tax-Free Exchanges of Property
6.1 Trades of Like-Kind Property
6.2 Personal Property Held for Business or Investment
6.3 Receipt of Cash and Other Property-"Boot"
6.4 Time Limits for Deferred Exchanges
6.5 Qualified Exchange Accommodation Arrangements (QEAAs) for Reverse Exchanges
6.6 Exchanges Between Related Parties
6.7 Property Transfers Between Spouses and Ex-Spouses
6.8 Tax-Free Exchanges of Stock in Same Corporation
6.9 Joint Ownership Interests
6.10 Setting up Closely Held Corporations
6.11 Exchanges of Coins and Bullion
6.12 Tax-Free Exchanges of Insurance Policies
7 Retirement and Annuity Income
7.1 Retirement Distributions on Form 1099-R
7.2 Lump-Sum Distributions
7.3 Lump-Sum Options If You Were Born Before January 2, 1936
7.4 Averaging on Form 4972
7.5 Capital Gain Treatment for Pre-1974 Participation
7.6 Lump-Sum Payments Received by Beneficiary
7.7 Tax-Free Rollovers From Qualified Plans
7.8 Direct Rollover or Personal Rollover
7.9 Rollover of Proceeds From Sale of Property
7.10 Distribution of Employer Stock or Other Securities
7.11 Survivor Annuity for Spouse
7.12 Court Distributions to Former Spouse Under a QDRO
7.13 When Retirement Benefits Must Begin
7.14 Payouts to Beneficiaries
7.15 Penalty for Distributions Before Age 59½
7.16 Restrictions on Loans From Company Plans
7.17 Tax Benefits of 401(k) Plans
7.18 Limit on Salary-Reduction Deferrals
7.19 Withdrawals From 401(k) Plans Restricted
7.20 Annuities for Employees of Tax-Exempts and Schools (403(b) Plans)
7.21 Government and Exempt Organization Deferred Pay Plans
7.22 Figuring the Taxable Part of Your Annuity
7.23 Life Expectancy Tables
7.24 When You Convert Your Endowment Policy
7.25 Reporting Employee Annuities
7.26 Simplified Rule for Calculating Taxable Employee Annuity
7.27 Employee's Cost in Annuity
7.28 Withdrawals Before Annuity Starting Date
8 IRAs
8.1 Starting a Traditional IRA
8.2 Traditional IRA Contributions Must Be Based on Earnings
8.3 Contributions to a Traditional IRA If You Are Married
8.4 IRA Deduction Restrictions for Active Participants in Employer Plan
8.5 Active Participation in Employer Plan
8.6 Nondeductible Contributions to Traditional IRAs
8.7 Penalty for Excess Contributions to Traditional IRAs
8.8 Taxable Distributions From Traditional IRAs
8.9 Partially Tax-Free Traditional IRA Distributions Allocable to Nondeductible Contributions
8.10 Tax-Free Rollovers and Direct Transfers to Traditional IRAs
8.11 Transfer of Traditional IRA to Spouse at Divorce or Death
8.12 Penalty for Traditional IRA Withdrawals Before Age 59½
8.13 Mandatory Distributions From a Traditional IRA After Age 70½
8.14 Inherited Traditional IRAs
8.15 SEP Basics
8.16 Salary-Reduction SEP Set up Before 1997
8.17 Who Is Eligible for a SIMPLE IRA?
8.18 SIMPLE IRA Contributions and Distributions
8.19 Roth IRA Advantages
8.20 Annual Contributions to a Roth IRA
8.21 Converting a Traditional IRA to a Roth IRA
8.22 Recharacterizations and Reconversions
8.23 Distributions From a Roth IRA
8.24 Disributions to Roth IRA Beneficiaries
9 Income from Rents and Royalties
9.1 Reporting Rental Income and Expenses
9.2 Checklist of Rental Deductions
9.3 Distinguishing Between a Repair and an Improvement
9.4 Reporting Rents From a Multi-Unit Residence
9.5 Depreciation on Converting a Home to Rental Property
9.6 Renting a Residence to a Relative
9.7 Personal Use and Rental of a Residence During the Year
9.8 Counting Personal-Use and Rental Days for a Residence
9.9 Allocating Expenses of a Residence to Rental Days
9.10 Rentals Lacking Profit Motive
9.11 Reporting Royalty Income
9.12 Production Costs of Books and Creative Properties
9.13 Deducting the Cost of Patents or Copyrights
9.14 Intangible Drilling Costs
9.15 Depletion Deduction
9.16 Oil and Gas Percentage Depletion
10 Loss Restrictions: Passive Activities and At-Risk Limits
10.1 Rental Activities
10.2 Rental Real Estate Loss Allowance of up to $25,000
10.3 Real Estate Professionals
10.4 Participation May Avoid Passive Loss Restrictions
10.5 Classifying Business Activities as One or Several
10.6 Material Participation Tests for Business
10.7 Tax Credits of Passive Activities Limited
10.8 Determining Passive or Nonpassive Income and Loss
10.9 Passive Income Recharacterized as Nonpassive Income
10.10 Working Interests in Oil and Gas Wells
10.11 Partnership Rules
10.12 Form 8582
10.13 Suspended Losses Allowed on Disposition of Your Interest
10.14 Suspended Tax Credits
10.15 Personal Service and Closely Held Corporations
10.16 Sales of Property and of Passive Activity Interests
10.17 At-Risk Limits
10.18 What Is At Risk?
10.19 Amounts Not At Risk
10.20 At-Risk Investment in Several Activities
10.21 Carryover of Disallowed Losses
10.22 Recapture of Losses Where At Risk Is Less Than Zero
11 Other Income
11.1 Prizes and Awards
11.2 Lottery and Sweepstake Winnings
11.3 Gambling Winnings and Losses
11.4 Gifts and Inheritances
11.5 Refunds of State and Local Income Tax Deductions
11.6 Other Recovered Deductions
11.7 How Legal Damages Are Taxed
11.8 Cancellation of Debts You Owe
11.9 Schedule K-1
11.10 How Partners Report Partnership Profit and Loss
11.11 When a Partner Reports Income or Loss
11.12 Partnership Loss Limitations
11.13 Unified Tax Audits of Partnerships
11.14 Stockholder Reporting of S Corporation Income and Loss
11.15 How Beneficiaries Report Estate or Trust Income
11.16 Deductions for Income Subject to Estate Tax
11.17 Who Is a Farmer?
11.18 Forms Farmers File
11.19 Income Averaging for Farmers
PART 3 CLAIMING DEDUCTIONS
12 Deductions Allowed in Figuring Adjusted Gross Income
12.1 Figuring Adjusted Gross Income (AGI)
12.2 Claiming Deductions From Gross Income
12.3 What Moving Costs Are Deductible?
12.4 The Distance Test
12.5 The 39-Week Test for Employees
12.6 The 78-Week Test for the Self-Employed and Partners
12.7 Claiming Deductible Moving Expenses
12.8 Reimbursements of Moving Expenses
12.9 Health Savings Account (HSA) Basics
12.10 Limits on Deductible HSA Contributions
12.11 Distributions From HSAs
12.12 Archer MSAs
13 Claiming the Standard Deduction or Itemized Deductions
13.1 Claiming the Standard Deduction
13.2 When To Itemize
13.3 Husbands and Wives Filing Separate Returns
13.4 Standard Deduction If 65 or Older or Blind
13.5 Standard Deduction for Dependents
13.6 Prepaying or Postponing Itemized Expenses
13.7 3% Itemized Deduction Reduction
14 Charitable Contribution Deductions
14.1 Deductible Contributions
14.2 Nondeductible Contributions
14.3 Contributions That Provide You With Benefits
14.4 Unreimbursed Expenses of Volunteer Workers
14.5 Support of a Student in Your Home
14.6 What Kind of Property Are You Donating?
14.7 Property That Has Declined Below Cost
14.8 Bargain Sales of Appreciated Property
14.9 Art Objects
14.10 Interests in Real Estate
14.11 Life Insurance
14.12 Form 8283 and Written Appraisal Requirements
14.13 Business Inventory
14.14 Donations Through Trusts
14.15 Records Needed To Substantiate Your Contributions
14.16 Penalty for Substantial Overvaluation of Property
14.17 Ceiling on Charitable Contributions
14.18 Five-Year Carryover for Excess Donations
14.19 Election To Reduce Property Gift Appreciation
15 Itemized Deduction for Interest Expenses
15.1 Home Mortgage Interest
15.2 Home Acquisition Loans
15.3 Home Equity Loans
15.4 Home Construction Loans
15.5 Home Improvement Loans
15.6 Mortgage Payment Rules
15.7 Interest on Refinanced Loans
15.8 "Points"
15.9 Cooperative and Condominium Apartments
15.10 Investment Interest Limitations
15.11 Debts To Carry Tax-Exempt Obligations
15.12 Earmarking Use of Loan Proceeds
15.13 Year To Claim an Interest Deduction
15.14 Prepaid Interest
16 Deductions for Taxes
16.1 Deductible Taxes
16.2 Nondeductible Taxes
16.3 Deducting State Income Taxes
16.4 When Taxes and Interest Are Capitalized
16.5 Assessments
16.6 Deducting Real Estate Taxes
16.7 Tenants' Payment of Taxes
16.8 Allocating Taxes When You Sell or Buy Realty
16.9 Who May Deduct Real Property Taxes
16.10 Automobile License Fees
16.11 Taxes Deductible as Business Expenses
16.12 Foreign Taxes
17 Medical and Dental Expense Deductions
17.1 Medical Expenses Must Exceed 7.5% of AGI
17.2 Allowable Medical Care Costs
17.3 Nondeductible Medical Expenses
17.4 Reimbursements Reduce Deductible Expenses
17.5 Premiums of Medical Care Policies
17.6 Expenses of Your Spouse
17.7 Expenses of Your Dependents
17.8 Decedent's Medical Expenses
17.9 Travel Costs May Be Medical Deductions
17.10 Schooling for the Mentally or Physically Disabled
17.11 Nursing Homes
17.12 Nurses' Wages
17.13 Home Improvements as Medical Expenses
17.14 Costs Deductible as Business Expenses
17.15 Long-Term Care
17.16 Life Insurance Used To Pay Medical Costs of Terminally ill
18 Casualty and Theft Losses and Involuntary Conversions
18.1 Sudden Event Test for Casualty Losses
18.2 When To Deduct a Casualty Loss
18.3 Disaster Losses
18.4 Who May Deduct a Casualty Loss
18.5 Bank Deposit Losses
18.6 Damage to Trees and Shrubs
18.7 Deducting Damage to Your Car
18.8 Proving a Casualty Loss
18.9 Theft Losses
18.10 Proving a Theft Loss
18.11 Nondeductible Losses
18.12 Floors for Personal-Use Property Losses
18.13 Figuring Your Loss on Form 4684
18.14 Personal and Business Use of Property
18.15 Repairs May Be a "Measure of Loss"
18.16 Insurance Reimbursements
18.17 Excess Living Costs Paid by Insurance Are Not Taxable
18.18 Do Your Casualty or Theft Losses Exceed Your Income?
18.19 Defer Gain by Replacing Property
18.20 Involuntary Conversions Qualifying for Tax Deferral
18.21 How To Elect To Defer Tax
18.22 Time Period for Buying Replacement Property
18.23 Types of Qualifying Replacement Property
18.24 Cost of Replacement Property Determines Postponed Gain
18.25 Special Assessments and Severance Damages
18.26 Reporting Gains From Casualties
19 Deducting Job Costs and Other Miscellaneous Expenses
19.1 2% AGI Floor Reduces Most Miscellaneous Expenses
19.2 Effect of 2% AGI Floor on Deductions
19.3 Checklist of Job Expenses Subject to the 2% AGI Floor
19.4 Job Expenses Not Subject to the 2% AGI Floor
19.5 Dues and Subscriptions
19.6 Uniforms and Work Clothes
19.7 Expenses of Looking for a New Job
19.8 Local Transportation Costs
19.9 Unusual Job Expenses
19.10 Computers and Cellular Phones
19.11 Calculators, Copiers, Fax Machines, and Typewriters
19.12 Small Tools
19.13 Employee Home Office Deductions
19.14 Telephone Costs
19.15 Checklist of Deductible Investment Expenses
19.16 Costs of Tax Return Preparation and Audits
19.17 Deducting Legal Costs
19.18 Contingent Fees Paid Out of Taxable Awards
20 Travel and Entertainment Expense Deductions
20.1 Deduction Guide for Travel and Transportation Expenses
20.2 Commuting Expenses
20.3 Overnight-Sleep Test Limits Deduction of Meal Costs
20.4 IRS Meal Allowance
20.5 Business Trip Deductions
20.6 When Are You Away From Home?
20.7 Fixing a Tax Home If You Work in Different Locations
20.8 Tax Home of Married Couple Working in Different Cities
20.9 Deducting Living Costs on Temporary Assignment
20.10 Business-Vacation Trips Within the United States
20.11 Business-Vacation Trips Outside the United States
20.12 Deducting Expenses of Business Conventions
20.13 Travel Expenses of a Spouse or Dependents
20.14 Restrictions on Foreign Conventions and Cruises
20.15 50% Deduction Limit
20.16 The Restrictive Tests for Meals and Entertainment
20.17 Directly Related Dining and Entertainment
20.18 Goodwill Entertainment
20.19 Home Entertaining
20.20 Your Personal Share of Entertainment Costs
20.21 Entertainment Costs of Spouses
20.22 Entertainment Facilities and Club Dues
20.23 Restrictive Test Exception for Reimbursements
20.24 50% Cost Limitation on Meals and Entertainment
20.25 Business Gift Deductions Are Limited
20.26 Record-Keeping Requirements
20.27 Substantiating Deductions for Travel and Entertainment
20.28 Reporting T&E Expenses If You Are Self-Employed
20.29 Employee Reporting of Unreimbursed T&E Expenses
20.30 Tax Treatment of Reimbursements
20.31 What Is an Accountable Plan?
20.32 Per Diem Travel Allowance Under Accountable Plans
20.33 Automobile Mileage Allowance
20.34 Reimbursements Under Non-Accountable Plans
21 Personal Exemptions
21.1 How Many Exemptions May You Claim?
21.2 Your Spouse as an Exemption
21.3 Test 1. Relationship Test
21.4 Unrelated or Distantly Related Dependents Living With you
21.5 Test 2. Gross Income Limit for Dependents
21.6 Children Under Age 19 or Full-Time Students Under Age 24
21.7 Test 3. Support Test
21.8 Lodging and Food as Support
21.9 Examples of Allocating Support
21.10 Multiple Support Agreements
21.11 Special Support Test for Divorced or Separated Parents
21.12 Test 4. The Dependent Must Meet a Citizen or Resident Test
21.13 Test 5. The Dependent Does Not File a Joint Return
21.14 Spouses' Names and Social Security Numbers on Joint Return
21.15 Reporting Social Security Numbers of Dependents
21.16 Phaseout of Personal Exemptions
PART 4 PERSONAL TAX COMPUTATIONS
22 Figuring Your Regular Income Tax Liability
22.1 Taxable Income
22.2 Using the Tax Table
22.3 Tax Computation Worksheet Replaces Rate Schedules
22.4 Tax Calculation If You Have Net Capital Gain or Qualified Dividends
22.5 Tax Credits
23 Alternative Minimum Tax (AMT)
23.1 Computing Alternative Minimum Tax on Form 6251
23.2 Adjustments for AMT
23.3 Tax Preference Items
23.4 Net Operating Losses
23.5 AMT Foreign Tax Credit
23.6 AMT Tax Credit From Regular Tax
23.7 Avoiding AMT
24 Computing the "Kiddie Tax" for Children Under Age 14
24.1 Filing Your Child's Return
24.2 Children Not Subject to the "Kiddie Tax"
24.3 Children Under Age 14 Subject to the "Kiddie Tax"
24.4 Computing "Kiddie Tax" on Child's Return
24.5 Parent's Election To Report Child's Dividends and Interest
25 Personal Tax Credits Reduce Your Tax Liability
25.1 Overview of Personal Tax Credits
25.2 Child Tax Credit for Children Under Age 17
25.3 Figuring the Child Tax Credit
25.4 Qualifying for Child and Dependent Care Credit
25.5 Limits on the Dependent Care Credit
25.6 Earned Income Test for Dependent Care Credit
25.7 Household and Dependent Tests for Dependent Care Credit
25.8 Expenses Qualifying for the Dependent Care Credit
25.9 Dependent Care Credit Rules for Separated Couples
25.10 Tax Obligations for Household Employees
25.11 Social Security and Medicare Taxes (FICA) for Household Employees
25.12 Federal Unemployment Taxes (FUTA) for Household Employees
25.13 Qualifying Tests for EIC
25.14 Income Tests for EIC
25.15 Look up EIC in Government Tables
25.16 Advance Payment of Earned Income Credit
25.17 Qualifying for the Adoption Credit
25.18 Claiming the Adoption Credit on Form 8839
25.19 Credit for Qualified Retirement Savings Contributions
25.20 Health Insurance Credit
25.21 Mortgage Interest Credit
25.22 District of Columbia First-Time Homebuyer Credit
26 Tax Withholdings
26.1 Withholdings Should Cover Estimated Tax
26.2 When Income Taxes Are Withheld on Wages
26.3 Increasing Withholding
26.4 Avoiding Withholding
26.5 Withholding Allowances
26.6 When To File a New Form W-4
26.7 Voluntary Withholding on Certain Government Payments
26.8 When Tips Are Subject to Withholding
26.9 Withholding on Gambling Winnings
26.10 FICA Withholdings
26.11 Withholding on Retirement Distributions
26.12 Backup Withholding
27 Estimated Tax Payments
27.1 Do You Owe an Estimated Tax Penalty for 2004?
27.2 Planning Estimated Tax Payments for 2005
27.3 Dates for Paying Estimated Tax Installments for 2005
27.4 Estimates by Husband and Wife
27.5 Adjusting Your Payments During the Year
PART 5 PERSONAL TAX SAVINGS PLANS
28 Tax Planning
28.1 Tax-Saving Opportunities
28.2 When To Defer Income and Accelerate Deductions
28.3 Earning Over the Thresholds for the Exemptions Phaseout and Itemized Deduction Reduction
29 Tax Savings for Residence Sales
29.1 Avoiding Tax on Sale of Principal Residence
29.2 Meeting the Ownership and Use Tests
29.3 Home Sales by Married Persons
29.4 Reduced Maximum Exclusion
29.5 Figuring Gain or Loss
29.6 Figuring Adjusted Basis
29.7 Personal and Business Use of a Home
29.8 No Loss Allowed on Personal Residence
29.9 Loss on Residence Converted to Rental Property
29.10 Loss on Residence Acquired by Gift or Inheritance
30 Tax Savings for Investors in Securities
30.1 Planning Year-End Securities Transactions
30.2 Earmarking Stock Lots
30.3 Sale of Stock Dividends
30.4 Stock Rights
30.5 Short Sales of Stock
30.6 Wash Sales
30.7 Convertible Stocks and Bonds
30.8 Constructive Sales of Appreciated Financial Positions
30.9 Straddle Losses
30.10 Capital Gain Restricted on Conversion Transactions
30.11 Puts and Calls and Index Options
30.12 Exchange Option Trading
30.13 Reducing the Tax on Dividend Income
30.14 Treasury Bills and CDs
30.15 Investing in Savings Institutions
30.16 Investing in Corporate Bonds
30.17 Treasury Bonds, Notes, and U.S. Agency Obligations
30.18 Investing in Tax-Exempts
30.19 Investing in Unit Investment Trusts
30.20 Ordinary Loss for Small Business Stock (Section 1244)
30.21 Savings Bonds
30.22 I Bonds
30.23 Trader, Dealer, or Investor?
30.24 Mark-to-Market Election for Traders
31 Tax Savings for Investors in Real Estate
31.1 Investing in Real Estate Ventures
31.2 Sales of Subdivided Land-Dealer or Investor?
31.3 Exchanging Real Estate Without Tax
31.4 Timing Your Real Property Sales
31.5 Cancellation of a Lease
31.6 Sale of an Option
31.7 Granting of an Easement
31.8 Special Tax Credits for Real Estate Investments
31.9 Foreclosures and Voluntary Conveyances to Creditors
31.10 Restructuring Mortgage Debt
31.11 Abandonments
31.12 Seller's Repossession After Buyer's Default on Mortgage
31.13 Foreclosure on Mortgages Other Than Purchase Money
31.14 Foreclosure Sale to Third Party
31.15 Transferring Mortgaged Realty
32 Tax Pointers for Investors in Mutual Funds
32.1 Investing in Stocks or Bonds Through Mutual Funds
32.2 Money-Market Mutual Funds
32.3 Timing Your Investment
32.4 Reinvestment Plans
32.5 Reporting Mutual-Fund Distributions
32.6 Tax-Exempt Bond Funds
32.7 Fund Expenses
32.8 Tax Credits From Mutual Funds
32.9 Redemptions and Exchanges of Fund Shares
32.10 Basis of Redeemed Shares
32.11 Comparison of Basis Methods
33 Gift Planning and Life Insurance
33.1 Gifts of Appreciated Property
33.2 Gift Tax Basics
33.3 Custodial Accounts for Minors
33.4 Trusts in Family Planning
33.5 Life Insurance Offers Tax Advantages
33.6 How Life Insurance Proceeds Are Taxed to a Beneficiary
33.7 A Policy With a Family Income Rider
33.8 How Other Insurance Proceeds Are Taxed
34 Special Rules for Senior Citizens
34.1 Senior Citizens Get Certain Filing Breaks
34.2 Social Security Benefits Subject to Tax
34.3 Computing Taxable Social Security Benefits
34.4 Election for Lump-Sum Social Security Benefit Payment
34.5 Retiring on Social Security Benefits
34.6 How Tax on Social Security Reduces Your Earnings
34.7 Claiming the Credit for the Elderly and Disabled
34.8 Base Amount for the Elderly or Disabled Credit
34.9 Reduction of the Credit Base Amount for the Elderly and Disabled
34.10 Tax Effects of Moving to a Continuing Care Facility
34.11 Imputed Interest on Refundable Entrance Fees
35 Members of the Armed Forces
35.1 Taxable Armed Forces Pay and Benefits
35.2 Tax-Free Armed Forces Benefits
35.3 Deductions for Armed Forces Personnel
35.4 Tax-Free Pay for Service in Combat Zone or Hazardous Duty Area
35.5 Tax Deadlines Extended for Combat Zone or Hazardous Duty Area Service
35.6 Tax Forgiveness for Combat Zone or Hazardous Duty Area Deaths
35.7 Extension To Pay Your Tax When Entering the Service
35.8 Tax Information for Reservists
36 How to Treat Foreign Earned Income
36.1 Claiming the Foreign Earned Income Exclusion
36.2 What Is Foreign Earned Income?
36.3 Qualifying for the Foreign Earned Income Exclusion
36.4 How To Treat Housing Costs
36.5 Meeting the Foreign Residence or Physical Presence Test
36.6 Claiming Deductions
36.7 Exclusion Not Established When Your Return Is Due
36.8 Tax-Free Meals and Lodging for Workers in Camps
36.9 Virgin Islands, Samoa, Guam, and Northern Marianas
36.10 Earnings in Puerto Rico
36.11 Tax Treaties With Foreign Countries
36.12 Exchange Rates and Blocked Currency
36.13 Information Returns on Foreign Currency
36.14 Foreign Tax Credit
37 Planning Alimony and Marital Settlements
37.1 Planning Alimony Agreements
37.2 Decree or Agreement Required
37.3 Cash Payments Required
37.4 Payments Must Stop at Death
37.5 Child Support Payments Are Not Alimony
37.6 No Minimum Payment Period for Alimony
37.7 3rd Year Recapture If Alimony Drops $15,000 or More
37.8 Legal Fees of Marital Settlements
38 Educational Tax Benefits
38.1 Scholarships and Grants
38.2 Tuition Reductions for College Employees
38.3 How Fulbright Awards Are Taxed
38.4 U.S. Savings Bond Tuition Plans
38.5 Contributing to a Qualified Tuition Program (Section 529 Plan)
38.6 Distributions From Qualified Tuition Programs (Section 529 Plans)
38.7 Education Tax Credits
38.8 Hope Credit
38.9 Lifetime Learning Credit
38.10 Income Phaseout of Education Credits
38.11 Contributing to a Coverdell Education Savings Account (ESA)
38.12 Distributions From Coverdell ESAs
38.13 Tuition and Fees Deduction Available Through 2005
38.14 Student Loan Interest Deduction
38.15 Types of Deductible Work-Related Costs
38.16 Work-Related Tests for Education Costs
38.17 Local Transportation and Travel Away From Home to Take Courses
39 Estate Taxes
39.1 What Is the Estate Tax?
39.2 Take Inventory
39.3 Finding the Value of Your Estate
39.4 How the Estate Tax Is Applied
39.5 Estate Tax Rates
39.6 Reducing or Eliminating a Potential Estate Tax
39.7 Estate Tax Freeze Advisory
PART 6 BUSINESS TAX PLANNING
40 Income or Loss From Your Business or Profession
40.1 Forms of Doing Business
40.2 Reporting Self-Employed Income
40.3 Accounting Methods for Reporting Business Income
40.4 Tax Reporting Year for Self-Employed
40.5 Reporting Business Cash Receipts to the IRS
40.6 Filing Schedule C
40.7 Deductions for Professionals
40.8 Nondeductible Expense Items
40.9 How Authors and Artists May Write Off Expenses
40.10 Deducting Expenses of a Sideline Business or Hobby
40.11 Deducting Expenses of Looking for a New Business
40.12 Exclusive and Regular Use of a Home Office
40.13 What Home Office Expenses Are Deductible?
40.14 Allocating Expenses to Business Use
40.15 Business Income May Limit Home Office Deductions
40.16 Home Office for Sideline Business
40.17 Depreciation of Office in Cooperative Apartment
40.18 Net Operating Losses (NOLs)
40.19 Your Net Operating Loss
40.20 Form 1045
40.21 How To Carry Back Your Net Operating Loss
40.22 Election To Carry Forward Losses
40.23 General Business Credit
41 Retirement Plans for Self-Employed
41.1 Who May Set Up a Keogh Plan?
41.2 Choosing a Keogh Plan
41.3 Choosing a SEP
41.4 Deductible Keogh or SEP Contributions
41.5 How To Claim the Keogh or SEP Deduction
41.6 How To Qualify a Keogh Plan or SEP Plan
41.7 Annual Keogh Plan Return
41.8 How Keogh Plan Distributions Are Taxed
41.9 SIMPLE IRA Plans
42 Claiming Depreciation Deductions
42.1 What Property May Be Depreciated?
42.2 Claiming Depreciation on Your Tax Return
42.3 First-Year Expensing Deduction
42.4 MACRS Recovery Periods
42.5 MACRS Rates
42.6 Half-Year Convention for MACRS
42.7 Last Quarter Placements-Mid-Quarter Convention
42.8 150% Rate Election
42.9 Straight-Line Depreciation
42.10 Computers and Other Listed Property
42.11 Assets in Service Before 1987
42.12 Straight-Line Recovery for Equipment in Service Before 1987
42.13 MACRS for Real Estate Placed in Service After 1986
42.14 Demolishing a Building
42.15 Leasehold Improvements
42.16 Depreciating Real Estate Placed in Service After 1980 and Before 1987
42.17 When MACRS Is Not Allowed
42.18 Amortizing Goodwill and Other Intangibles (Section 197)
42.19 Deducting the Cost of Computer Software
42.20 Bonus Depreciation for Eligible Property Placed in Service Before 2005
43 Deducting Automobile Expenses
43.1 IRS Automobile Allowance
43.2 Auto Expense Allocations
43.3 Auto Depreciation Restrictions
43.4 Annual Ceilings on Depreciation
43.5 MACRS Rates for Cars
43.6 Straight-Line Method
43.7 Depreciation for Year in Which Car Is Disposed Of
43.8 Depreciation After Recovery Period Ends
43.9 Trade-in of Business Auto
43.10 Recapture of Deductions on Business Auto
43.11 Keeping Records of Business Use
43.12 Leased Business Autos: Deductions and Income
43.13 Deduction for Hybrid Vehicle
44 Sales of Business Property
44.1 Ordinary Income Recapture of Depreciation on Sale of Personal Property
44.2 Ordinary Income Recapture on Depreciable Realty
44.3 Recapture of First-Year Expensing
44.4 Gifts and Inheritances of Depreciable Property
44.5 Involuntary Conversions and Tax-Free Exchanges
44.6 Installment Sale of Depreciable Property
44.7 Sale of a Proprietorship
44.8 Property Used in a Business (Section 1231 Assets)
44.9 Sale of Property Used for Business and Personal Purposes
44.10 Should You Trade in Business Equipment?
44.11 Corporate Liquidation
45 Figuring Self- Employment Tax
45.1 What Is Self-Employment Income?
45.2 Partners Pay Self-Employment Tax
45.3 Schedule SE
45.4 How Wages Affect Self-Employment Tax
45.5 Optional Method If 2001 Was a Low-Income or Loss Year
45.6 Self-Employment Tax Rules for Certain Positions
PART 7 FILING YOUR RETURN AND WHAT HAPPENS AFTER YOU FILE
46 Filing Your Return
46.1 Keeping Tax Records
46.2 Getting Ready To File Your Return
46.3 Applying for an Extension
46.4 Paying Taxes Due or Getting Your Refund
46.5 Electronic Filing
46.6 Notify the IRS of Address Changes
46.7 Tax Return Preparers
47 How Tax Data Is Processed by the IRS
47.1 IRS Preliminary Review
47.2 Information Returns Required by the IRS
47.3 When the IRS Can Assess Additional Taxes
47.4 Interest on Deficiencies
47.5 Tax Penalties for Late Filing and Late Payment
47.6 Tax Penalties for Inaccurate Returns
48 IRS Tax Audits
48.1 Odds of Being Audited
48.2 Types of Audits
48.3 Preparing for the Audit
48.4 Handling the Audit
48.5 Agreeing to Audit Changes
48.6 Disputing the Audit Changes
48.7 Recovering Costs of a Tax Dispute
48.8 Suing the IRS for Unauthorized Collection
49 Filing Refund Claims, and Amended Returns
49.1 Who Should File a Refund Claim
49.2 When To File a Refund Claim
49.3 Joint Refund Claims
49.4 Stating the Reasons for Refund Claims
49.5 Quick Refund Claims
49.6 Interest Paid on Refunds
49.7 Refunds Withheld to Cover Debts
49.8 Amended Returns Showing Additional Tax
PART 8 INDEX
Index (Parts 1-7)
PART 9 2004 TAX TABLE, TAX COMPUTATION WORKSHEET, EARNED INCOME CREDIT TABLE
Tax Table
Tax Rate Schedules
Earned Income Credit Table
2004 TAX FORMS

Inhalt (PDF)

Systemvoraussetzungen

Als PDF speichern Als Link merken