Overview

The leading desk reference for US personal income tax return preparation for professionals In J.K. Lasser’s Your Income Tax 2024, Professional Edition, a team of veteran tax preparers and educators delivers an intuitive and comprehensive roadmap to helping your clients prepare their 2023 US personal income tax returns. In the book, you’ll learn how to maximize your clients’ deductions and credits, legally shelter their personal income, and minimize their tax bills. The authors have included sample 2023 tax forms, brand-new tax law authorities with citations, binding IRS rulings, filing pointers, and tax planning strategies you can implement immediately to better serve your clients. Fully updated to reflect the changes to the 2023 tax code, this book provides the step-by-step instructions, worksheets, and forms you need to prepare your clients’ taxes ethically and effectively. You’ll also find: Discussions of what it’s like to practice before the Internal Revenue Service as an Enrolled Agent Strategies for identifying the best approach to tax planning based on your client’s financial situation Checklists and sample forms to make preparing your next return simple and straightforward Perfect for practicing and training Certified Public Accountants and Enrolled Agents, J.K. Lasser’s Your Income Tax 2024 is the gold standard desk reference for tax preparers serving individuals in the United States.

Full Product Details

Author:   J.K. Lasser Institute
Publisher:   John Wiley & Sons Inc
Imprint:   John Wiley & Sons Inc
Edition:   3rd edition
Dimensions:   Width: 22.40cm , Height: 4.80cm , Length: 28.20cm
Weight:   2.404kg
ISBN:  

9781394223527

ISBN 10:   1394223528
Pages:   1088
Publication Date:   12 February 2024
Audience:   Professional and scholarly ,  Professional & Vocational
Replaced By:   9781394298471
Format:   Hardback
Publisher's Status:   Active
Availability:   In stock  
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Table of Contents

What’s New for 2023 xxvii Tax News for 2023 xxvii Key Tax Numbers for 2023 xxx Tax-Saving Opportunities for 2023 and Beyond xxxii Expiring Provisions xxxiii Filing Basics 1 Filing Status 9 Reporting Your Income 35 Wages, Salary, and Other Compensation 37 Fringe Benefits 56 Dividend and Interest Income 81 Reporting Property Sales 109 Tax-Free Exchanges of Property 158 Retirement and Annuity Income 172 IRAs 209 Income From Real Estate Rentals and Royalties 262 Loss Restrictions: Passive Activities and At-Risk Limits 282 Other Income 312 Claiming Deductions 337 Deductions Allowed in Figuring Adjusted Gross Income 339 Claiming the Standard Deduction or Itemized Deductions 345 Charitable Contribution Deductions 352 Itemized Deduction for Interest Expenses 379 Deductions for Taxes 397 Medical and Dental Expense Deductions 406 Casualty and Theft Losses and Involuntary Conversions 426 Other Itemized Deductions 451 Travel and Meal Expense Deductions 454 Personal Tax Computations 475 Dependents 477 Figuring Your Regular Income Tax Liability 491 Alternative Minimum Tax (AMT) 496Computing the “Kiddie Tax” on Your Child’s Unearned Income 504 Personal Tax Credits Reduce Your Tax Liability 510 Tax Withholdings 534 Estimated Tax Payments 542 Additional Medicare Tax and Net Investment Income Tax 548 Tax Savings for Residence Sales 557 Tax Rules for Investors in Securities 575 Tax Savings for Investors in Real Estate 592 Tax Rules for Investors in Mutual Funds 606 Educational Tax Benefits 615 Special Tax Rules for Senior Citizens and the Disabled 634 Members of the Armed Forces 649 How To Treat Foreign Earned Income 657 Planning Alimony and Marital Settlements 668 Other Taxes 673 Gift and Estate Tax Planning Basics 679 Business Tax Planning 689 Income or Loss From Your Business or Profession 691 Retirement and Medical Plans for Self-Employed 721 Claiming Depreciation Deductions 734 Deducting Car and Truck Expenses 751 Sales of Business Property 766 Figuring Self-Employment Tax 773 Filing Your Return and the Process After You File 783 Filing Your Return 785 Filing Refund Claims, and Amended Returns 794 If the IRS Examines Your Return 798 2023 Tax Forms 811 Form 1040 813 Form 1040-SR 815 Schedule 1 819 Schedule 2 821 Schedule 3 823 Schedule A 825 Schedule B 826 Schedule 8812 827 Form 2441 829 Form 8863 831 2023 Tax Table 833 2023 Tax Computation Worksheet 845 2023 Earned Income Credit (EIC) Table 846 Tax Law Authorities 857 Legislative Authorities 858 Administrative Authorities 859 Judicial Authorities 860 Citations of Authority 863 Key to Citations 864 Filing Basics 865 Practice Before the Irs 977 How Returns Are Examined 979 Audit Rules for Partnerships 986 The Time Limits Within Which the IRS Must Act for Additional Taxes 987 Filing Refund Claims 992 How to Arrange Closing Agreements and Compromises 996 How to Get the IRS’ Opinion on a Tax Problem 998 Circular 230: Practice Before the IRS 1004 Tax Return Preparer Penalties 1012 Glossary 1017 Index 1023

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