Overview

This one-of-a-kind resource explains how to use the 1040 return as a discovery tool in divorce cases -- in practice, not theory. Showing where to start a review of an individual's return and how to discover cash flow, the existence of assets and other valuables, The 1040 Handbook provides practical assistance for drafting a detailed and effective discovery plan for assets and income, personal as well as business. Using a hypothetical couple's 2020 tax return, The 1040 Handbook provides a line-by-line analysis of the federal tax form and its schedules to suggest appropriate areas of inquiry. Author Jack Zuckerman shows what each line reveals about a couple's assets and the income, and notes the clues that should be followed up on, the red flags to watch for, and the indications that additional key documents exist and should be obtained. It also discusses the important facts to gather during the initial client consultation and how the 1040 form can be used to: Draft a tentative list of assets Identify appropriate areas of inquiry Ask the appropriate questions Develop a list of additional documents to obtain Individual chapters cover the 1040's most commonly used schedules and forms, providing a clearly written discussion of each along with a sample form. In addition, this book offers a wealth of information on: Identifying income and assets Recognizing assets disguised as deductions Tip-offs to predivorce movement of assets Business expenses that could be considered income Deductions and assets that may be future tax liabilities IRAs and Keogh accounts And much more!

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9781639050604

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"Jack Zuckerman is a senior partner at White, Zuckerman, Warsavsky, Luna, Wolf & Hunt, LLP, Certified Public Accountants, in Los Angeles, California. He received his undergraduate degree from the City College of the City University of New York and his juris doctor from Southwestern University School of Law. Mr. Zuckerman co-edited the book California Community Property With Tax Analysis (Matthew Bender 2008), coauthored the article ""Legal Tender"" (Los Angeles Lawyer May 1995), and coauthored a chapter in the 1994 and 1995 Los Angeles Bar Association Family Law Symposium titled ""Tracing and Its Application in Family Law."" He recently completed authoring the update of the 1040 Handbook, Fifth Edition (American bar Association 2008). He has lectured frequently on the subjects of valuation of assets in divorce and tax strategies in divorce, and has frequently testified in court on those issues during his over 29 years as a forensic accountant. March 2010 RON THOMPSON is a partner in the Tax and Accounting Department of White, Zuckerman, Warsavsky, Luna, & Hunt, LLP. He received his Bachelor of Arts degree from the University of California at Los Angeles in Economics. He is a Certified Public Accountant and a CERTIFIED FINANCIAL PLANNER™ practitioner. He has served as an accountant for over thirty-five years and is now in charge of the Irvine Tax and Accounting Department responsible for the delivery of tax, estate planning, accounting, and attestation services to clients, which consist principally of small business enterprises and individuals. Mr. Thompson has testified in the Superior Court of California as an expert witness in matter of taxation."

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