 |
||
 |
||
|
|
||
|
an excerpt from THE ERNST & YOUNG TAX GUIDE 2000 edited by Peter W. Bernstein Published by John Wiley & Sons, Inc. Reprinted here with permission. INTRODUCTION The inevitable tax season is upon us once again. But it doesn't have to feel like a post-holiday hangover. There are a lot of things you can do to make your filing process easier, and your refunds larger! The excerpt below, taken from the introductory pages of the ERNST & YOUNG TAX GUIDE 2000, lists 50 deductions that one might overlook when itemizing. The ERNST & YOUNG TAX GUIDE 2000 has more tips and tricks than any other resource with more tax forms included than any other guide, along with line-by-line instructions, updates explaining the latest tax laws, and tips on how to save your money. This guide is like having the partners at Ernst & Young LLP at your disposal for less than $20.00! More about the guide follows the excerpt. EXCERPT 50 OF THE MOST EASILY OVERLOOKED DEDUCTIONS The following list will serve as a reminder of some deductions you can easily overlook when you prepare your return. It is not intended to be all-inclusive, nor applicable to everyone. The circumstances of your situation will determine whether you qualify. 1. Accounting fees for tax preparation services and IRS audits 2. Alcoholism and drug abuse treatment 3. Amortization of premium on taxable bonds 4. Appraisal fees for charitable donations or casualty losses 5. Appreciation on property donated to a charity 6. Casualty or theft losses 7. Cellular telephones 8. Cleaning and laundering services when traveling 9. Commissions and closing costs on sale of property 10. Contact lenses, eye glasses, and hearing devices 11. Contraceptives, if bought with a prescription 12. Costs associated with looking for a new job in your present occupation, including fees for resume preparation and employment of outplacement agencies 13. Depreciation of home computers 14. Dues to labor unions 15. Education expenses to the extent required by law or your employer or needed to maintain or improve your skills 16. Employee contributions to a state disability fund 17. Employee's moving expenses 18. Federal estate on income with respect to a descendent 19. Fees for a safe-deposit box to hold investments 20 Fees paid for childbirth preparation classes if instruction relates to obstetrical care 21. Foreign taxes paid 22. Foster child care expenditures 23. Gambling losses to the extent of gambling gains 24. Hospital services fees (laboratory work, therapy, nursing services, and surgery) 25. Impairment-related work expenses for a disabled individual 26. Improvements to your home 27. Investment advisory fees 28. IRA trustee's administrative fees billed separately 29. Lead paint removal 30. Legal abortion expenses 31. Legal fees incurred in connection with obtaining or collecting alimony 32. Margin account interest expense 33. Medical transportation, including standard mileage deduction and lodging expenses incurred for medical reasons while away from home 34. Mortgage prepayment penalties and late fees 35. Out-of-pocket expenses relating to charitable activities, including the standard mileage deduction 36. Part of health insurance premiums if self-employed 37. Penalty on early withdrawal of savings 38. Personal liability insurance for wrongful acts as an employee 39. Points on a home mortgage and certain refinancings 40. Protective clothing required at work 41. Real estate taxes associated with the purchase or sale of property 42. 50% of self-employment tax 43. Seller-paid points on the purchase of a home 44. Special equipment for the disabled 45. Special schools and separately stated feed for medical care included in tuition 46. State personal property taxes on cars and boats 47. Subscriptions to professional journals 48. Theft of embezzlement losses 49. Trade or business tools with life of 1 year or less 50. Worthless stock or securities ABOUT THE BOOK THE ERNST & YOUNG TAX GUIDE 2000 Edited by Peter W. Bernstein Published by John Wiley & Sons, Inc. (0-471-34953-4, 718 pages, $15.95) It's the only guide that includes over 40 of this year's tax forms in the book and online, *plus* the IRS's official filing instructions for the forms, *plus* money-saving tips from America's leading tax and accounting firm. SPECIAL FEATURES IN THIS YEAR'S EDITION:
*Plus* the always popular features: TAXSAVERS -- tips to slash your taxes this year and next TAXPLANNERS -- strategies to help you prepare for the upcoming year TAXALERTS -- pointers on tax law changes that may affect you TAXORGANIZERS -- reminders that help you keep track of your important tax records TAX HELP ONLINE! ENDORSEMENTS "...The best
tax guide of the bunch..." "...Hard to
Beat..." "...The top
choice..." Excerpted from THE ERNST & YOUNG TAX GUIDE 2000, edited by Peter W. Bernstein. Copyright 2000 by Ernst & Young LLP and Peter W. Bernstein Corporation. Reprinted by permission of the publisher John Wiley & Sons, Inc. To order a copy of this work call 1-800-CALL-WILEY or visit the Wiley website at http://www.wiley.com. This is available through all online bookstores, including amazon.com, barnesandnoble.com and borders.com, or any independent bookseller found on bookweb.org, or at your favorite local bookstore. |
|
