You are previewing J.K. Lasser's 1001 Deductions and Tax Breaks 2013: Your Complete Guide to Everything Deductible.
O'Reilly logo
J.K. Lasser's 1001 Deductions and Tax Breaks 2013: Your Complete Guide to Everything Deductible

Book Description

A straightforward guide to taking tax breaks and deductions on your 2012 tax return

Completely revised to reflect important changes in this year's tax laws, J.K. Lasser's 1001 Deductions & Tax Breaks 2013 will help you take advantage of every tax break and deduction that you may be entitled to. This comprehensive guide is clearly organized by subject matter so you can easily find situations that may apply to you.

Each tax benefit is also clearly explained—along with the eligibility requirements for claiming the benefit—while planning tips and common pitfalls associated with the benefit in question are discussed in detail. New tax law alerts are also included throughout the book, so you can make the most informed decisions possible.

  • Discusses deductions and tax breaks with regard to your family, home, car, job, investments, retirement, medical expenses, charitable giving, health coverage, and much more

  • Packed with hundreds of updated examples, practical advice, and real-world examples

  • Explains tax changes that are set to apply after 2012 that may affect your planning decisions

  • Includes a free online supplement at JKLasser.com, which contains up-to-the-minute tax law changes

  • Other titles by Barbara Weltman: J.K. Lasser's Small Business Taxes 2013

Filled with in-depth insights and expert advice, J.K. Lasser's 1001 Deductions & Tax Breaks 2013 is a book every taxpayer should own.

Note: The ebook version does not provide access to the companion files.

Table of Contents

  1. Cover
  2. Title Page
  3. Copyright
  4. Introduction
    1. Tax-Favored Items
    2. Limits on Qualifying for Tax-Favored Items
    3. Standard Deduction versus Itemized Deductions
    4. Impact of Deductions on Your Chances of Being Audited
    5. How to Use This Book
  5. Chapter 1: You and Your Family
    1. Personal Exemption
    2. Dependency Exemption
    3. Child Tax Credit
    4. Earned Income Credit
    5. Dependent Care Expenses
    6. Adoption Costs
    7. Foster Care
    8. Child Support
    9. Alimony
  6. Chapter 2: Medical Expenses
    1. Itemized Medical Expenses
    2. Self-Employed Health Insurance Deduction
    3. Health Insurance Credit for Eligible Recipients
    4. Long-Term Care Coverage
    5. Flexible Spending Arrangements for Health Care
    6. Health Reimbursement Arrangements
    7. Health Savings Accounts
    8. COBRA Coverage
    9. Medicare
    10. Continuing Care Facilities and Nursing Homes
    11. Accelerated Death Benefits
    12. Decedent's Final Illness
    13. Medical Insurance Rebates
  7. Chapter 3: Education Costs
    1. Employer-Paid Courses
    2. Scholarships, Fellowships, and Grants
    3. American Opportunity Credit
    4. Lifetime Learning Credit
    5. Job-Related Education
    6. Tuition and Fees Deduction
    7. Student Loan Interest
    8. Interest on U.S. Savings Bonds
    9. Coverdell Education Savings Accounts
    10. Qualified Tuition Programs (529 Plans)
    11. Seminars
    12. Educational Travel
    13. Cancellation of a Student Loan
    14. Penalty-Free Withdrawals from IRAs
    15. Government Reimbursements
  8. Chapter 4: Your Home
    1. Mortgages
    2. Mortgage Interest Tax Credit
    3. Home Equity Loans
    4. Points
    5. Refinancing
    6. Prepayment Penalties
    7. Late Payment Penalties
    8. Mortgage Insurance
    9. Reverse Mortgages
    10. Cancellation of Mortgage Debt
    11. Penalty-Free IRA Withdrawals for Home-Buying Expenses
    12. Homebuyer Credit for DC Purchasers
    13. Real Estate Taxes
    14. Cooperative Housing
    15. Minister's Housing Allowance
    16. Home Sale Exclusion
    17. Moving Expenses
    18. Energy Improvements
  9. Chapter 5: Retirement Savings
    1. Traditional IRAs
    2. Roth IRAs
    3. IRA Rollovers
    4. 401(k) and Similar Plans
    5. Self-Employed Retirement Plans
    6. SEPs
    7. SIMPLEs
    8. Retirement Saver's Credit
    9. Custodial/Trustee Fees
    10. Employer-Paid Retirement Planning Advice
    11. Charitable Transfers of IRA Distributions
  10. Chapter 6: Charitable Giving
    1. Cash Donations
    2. Appreciated Property Donations
    3. Used Clothing and Car Donations
    4. Intellectual Property Donations
    5. Real Estate Donated for Conservation Purposes
    6. Bargain Sales
    7. Volunteer Expenses
    8. Tickets to Fund-Raisers, Raffles, and Sporting Events
    9. Membership Fees to Nonprofit Organizations
    10. Student Exchange Program
    11. Donor-Advised Funds
    12. Appraisal Fees and Other Costs
    13. IRA Transfers to Charity
    14. Record Keeper for Your Charitable Giving
  11. Chapter 7: Your Car
    1. Business Use of Your Personal Car
    2. Employer-Provided Car
    3. Vehicle Registration Fees
    4. Car Accidents and Other Car-Related Problems
    5. Donating Your Car
    6. Credit for Plug-In Electric Drive Vehicles
    7. Credit for Low-Speed Electric Vehicles
    8. Credit for Plug-In Vehicle Conversions
  12. Chapter 8: Investing
    1. Penalty on Early Withdrawal of Savings
    2. Loss on Bank Deposits
    3. Capital Losses
    4. Capital Gains and Qualified Dividends
    5. Worthless Securities
    6. Loss on Section 1244 Stock
    7. Margin Interest and Other Investment-Related Borrowing
    8. Safe-Deposit Box Rental Fee
    9. Subscriptions to Investment Newsletters and Online Services
    10. Home Computer Used for Investments
    11. Fees for Financial Advice
    12. Amortization of Bond Premium
    13. Municipal Bonds
    14. Savings Bonds
    15. Gain on the Sale of Small Business Stock
    16. Gain on Empowerment Zone Assets
    17. Foreign Taxes on Investments
    18. Exercise of Incentive Stock Options
    19. Losses from Investment Ponzi Schemes
  13. Chapter 9: Travel
    1. Business Travel
    2. Temporary Work Assignments
    3. Conventions
    4. Medical Travel
    5. Charitable Travel
    6. Moving for Work
    7. Educational Travel
    8. National Guard and Military Reservist Travel
    9. Frequent Flier Miles
    10. Recordkeeping for Travel Expenses
  14. Chapter 10: Entertainment
    1. Meals and Entertainment
    2. Company Holiday Parties and Picnics
    3. Sporting and Theater Events
    4. Home Entertainment
    5. Entertainment Facilities and Club Dues
    6. Recordkeeping for Meals and Entertainment Expenses
    7. Gambling Losses
  15. Chapter 11: Real Estate
    1. Vacation Home
    2. Home Office
    3. Rentals
    4. Low-Income Housing Credit
    5. Rehabilitation Credit
    6. Deduction for Energy-Efficient Commercial Buildings
    7. Special Breaks for Certain Disaster Victims
  16. Chapter 12: Borrowing and Interest
    1. Home Mortgage Interest
    2. Student Loan Interest
    3. Investment-Related Interest
    4. Business Interest
    5. Accrued Interest on Bond Purchases
    6. Below-Market Loans
    7. Bad Debts
  17. Chapter 13: Insurance and Catastrophes
    1. Casualty and Theft Losses
    2. Disaster Losses
    3. Disaster Relief Payments
    4. Damages
    5. Disability Coverage
    6. Accelerated Death Benefits
    7. Legal Fees
    8. Appraisal Fees
    9. Damage from Corrosive Drywall
  18. Chapter 14: Your Job
    1. Job-Hunting Expenses
    2. Dues to Unions and Professional Associations
    3. Work Clothes and Uniforms
    4. Subscriptions to Professional Journals and Newsletters
    5. Work Tools and Equipment
    6. Miscellaneous Job-Related Expenses
    7. Educator Expenses
    8. Home Office Deduction
    9. Prizes and Awards
    10. Performing Artists
    11. State or Local Government Officials Paid on a Fee Basis
    12. Repayment of Supplemental Unemployment Benefits
    13. Jury Duty Pay Turned Over to Your Employer
    14. Impairment-Related Expenses
    15. Military Benefits
    16. Fringe Benefits
    17. Income Earned Abroad
  19. Chapter 15: Your Business
    1. Start-Up Costs
    2. Equipment Purchases
    3. Payment for Services
    4. Supplies
    5. Gifts
    6. Hobby Losses
    7. Self-Employment Tax Deduction
    8. Home Office Deduction
    9. Farming-Related Breaks
    10. Domestic Production Activities Deduction
    11. Other Business Deductions
    12. Business Credits
    13. Net Operating Losses
  20. Chapter 16: Miscellaneous Items
    1. State and Local Income Taxes
    2. State and Local Sales Taxes
    3. Certain Federal Taxes
    4. Tax Refunds
    5. Tax Preparation Costs
    6. Tax Audits
    7. Legal Fees
    8. Gifts You Receive
    9. Inheritances
    10. Life Insurance Proceeds
    11. Estate Tax Deduction on Income in Respect of a Decedent
    12. Rebates and Discounts
    13. Government Benefits
    14. Alternative Minimum Tax
  21. Appendix A: Items Adjusted Annually for Inflation
  22. Appendix B: Checklist of Tax-Free Items
  23. Appendix C: Checklist of Nondeductible Items
    1. Nondeductible Items
  24. Index