Big Book of Taxes 365 – Tax Update and Review
Publication Date: Updated Year Round
Author: Lee T. Reams, EA
The Big Book of Taxes 365 is your ultimate online resource on everything tax. We update the chapters throughout the year, so you will always have a pulse on the latest tax law and planning strategies. Simply browse through the index and click on the link to open the current chapter. Adobe Reader is required to open the PDF file.
ClientWhys 1000+ page, The Big Book of Taxes, is all you need to prepare for tax season and take your practice to another level. It is one of the most comprehensive tax update & review textbooks available on the market today, covering major and recently-impacted areas of individual income tax law.
Learn everything you need to know for preparing 2017 individual tax returns. The Big Book of Taxes is constantly updated and includes Revenue Rulings, Procedures, Announcements, court cases, code changes, provision extensions and sun-setting provisions. You get it all! Here is just a sampling of what’s included:
- How to report income from short-term rentals through such online services as Airbnb, VRBO and HomeAway
- How to report income and expenses of Uber drivers
- Probably the best Obamacare resource available:
- How to compute the PTC and reconcile it with the APTC and compute additional credit or credit recapture.
- 1095-C filing requirements for applicable large employers (ALEs) and how to fill out the 1095-Cs.
- How the 1095-C affects the qualification for premium tax credit.
- How to use exemptions to get your client out of the uninsured penalty.
- Dealing with the IRS mortgage interest audit initiative.
- Bonus depreciation phase-out
- Unmarried co-owners’ home mortgage limitations – potential for amended returns
- Charitable contribution for “use” of property
- Draconian PLR fee for retirement plan rollover issues
- Back door Roth IRAs
- Regulations for allocating qualified ROTH IRA distributions
- Basis consistency rules
- Hobby Losses
- Life estate - home gain exclusion & inherited basis
- Converting personal property to business property
- Interest Tracing
- Increased taxpayer penalties
- Expanded Sec 179 qualified property
- Understanding the IRS’s ID theft protection services.
- Foreign reporting requirements, including FBARs, 8939, 3520 and other forms.
- Integrity, due diligence, and disallowance periods for Child Credit, Education Credit and EITC
- New more complicated due diligence Form 8867 and stiffer preparer penalties.
- Qualified longevity annuities
- Estate tax portability election
- Simplified capitalization & repair regulations for small businesses.
- Issues related to renting to a relative.
- Plus a myriad of other changes and a review of the critical issues for 2017.