Foreword

Paul Craig Roberts

Introduction

Part 1: How Do You Start?

1 But Do I Have to File a Tax Return? Who has to file, when to file, where to file.

2 Where Do All Those Forms Come From? How to get last-minute forms from the strangest places.

3 The IRS Meets the Computer Age The latest on how your computer can aid you in tax preparation.

4 Collecting and Saving the Right Information Assembling the information and tools necessary to prepare your tax return.

5 Your Filing Status How to choose the right filing status.

6 Dependents How to figure out who counts as a dependent.

Part 2: Filling Out Your Return

7 Easy Filing: 1040EZ Line-by-line instructions for filling out this easy form.

8 Medium-Easy Filing: 1040A Line-by-line instructions for filling out this form.

9 Serious Filing: 1040 Line-by-line instructions for filling out this form with cross references to other chapters in this book.

Part 3: Income from All Sources

10 W-2 Forms, Interest and Dividend Income, and State Tax Refunds Understanding the income reporting forms that come in the mail.

11 Report Your Self-Employment Income on Schedule C The Schedule C for self-employed individuals.

12 Capital Gain (or Loss) The Schedule D for reporting sales of assets.

13 Retirement Income: IRAs, Social Security Benefits, Pension Plans, and Annuities The various types of retirement income and how they are taxed.

14 Schedule E: Rents, Royalties, and Other Supplemental Income (as reported on Schedule K-1) The Schedule E for reporting rents, royalties, partnership, and S-Corporation income.

15 Moo! Schedule F Was Made for Farmers How to report income and expenses from farming operations.

16 Income That Doesn't Fit into the Big Categories The tax treatment of miscellaneous income items.

Part 4: Reducing Your Income

17 Adjustments to Income on Page 1 of the 1040 The reductions to income that you can take on page 1 of your 1040.

18 Let's Go for a Ride: Car and Truck Expenses Taking deductions for vehicle expenses.

19 Depreciation Understanding the complex world of depreciation.

20 The Standard Deduction How much is the standard deduction and when should you use it?

21 Itemized Deductions The ins and outs of itemizing your deductions.

22 Exemptions Will Save You Tax $$$ Getting a tax benefit for the people in your care.

Part 5: Taxes and Credits (and More Taxes)

23 Figuring the Base Income Tax: Tables and Rates The difference between tax tables and tax rate schedules and how to use them.

24 Cutting Your Tax with Credits A description of the tax credits that can reduce your income tax.

25 Other Kinds of Taxes That You'd Rather Not Hear About The other taxes: self-employment tax, alternative minimum tax, and more.

26 Pay Now, Play Later (Estimated Taxes) Who has to file estimates and how to do it.

27 Ouch! The Underpayment Penalty The cost of paying your taxes late: how to compute it and how to avoid it.

Part 6: After You Have Completed Your Tax Return

28 That Last-Minute Run to the Post Office Putting the finishing touches on your tax return and putting it in the mail.

29 Changing Your Tax Return After You File How to amend your tax return after it's been filed.

30 Inside the IRS Machine Following your tax return as it makes it way through the IRS.

Part 7: The IRS

31 IRS Paperwork IRS letters that might appear in your mailbox, and how to respond to them.

32 "Greetings, Taxpayer..." The IRS Audit Tax audits: how to survive them and how to avoid them.

33 Taxes in Our Future The future of taxation

Part 8: Welcome to 1999

34 Changes to the Tax Laws That Will Affect You The latest from our friends in Washington, D.C.

35 Getting Ready for Next Year How you can prepare now for future tax returns.

A Glossary of IRSpeak Terms Common tax terms defined.

B Tax Forms and Schedules Copies of the most commonly used federal tax forms and worksheets for individuals.

C 1998 Tax Tables and Tax Rate Schedules and Miscellaneous Schedules Figure your own income tax here with the IRS Tax Tables, Tax Rate Schedules, and IRA Life Expectancy Tables.

D IRS Forms and Publications A resource guide of IRS forms and publications that you can order by phone.

E State Taxing Agencies: Addresses and Telephone Numbers Information you can use to get state tax forms and request information.

Index