What the IRS Doesn't Want You to Know:: A CPA Reveals the Tricks of the Trade, Revised for 1998

by Martin S. Kaplan, Naomi Weiss, Martin S. Kaplan C.P.A.

Book Overview

Filled with sample tax forms, state-by-state hot-line phone numbers, and over 1,000 secrets about how the IRS really works, the 1996 edition of What the IRS Doesn't Want You to Know gives taxpayers... This description may be from another edition of this product.

• Format: Paperback
• Language: English
• ISBN: 0375750452
• ISBN13: 9780375750458
• Release Date: December 1997
• Publisher: Villard Books
• Length: 448 Pages
• Weight: 1.20 lbs.
• Dimensions: 1.1" x 6.2" x 9.2"

Customer Reviews

This is a good, solid book with legal ways to reduce your tax burden

I read all the reviews AFTER buying this book, and I must say that I'm surprised at some of the negative ones. One negative review is from a tax protester (they argue that nobody should have to pay taxes, but they love sending their kids to public schools and enjoy their social security checks!). There's another negative review from a Ron Paul supporter. I love Ron Paul, but trashing the author's book because you WANT a flat tax doesn't make your dream of a flat tax come true, and it's really unfair to the author. The last review is obviously someone who works for a taxing agency. The author may advocate some strong tax avoidance techniques, but tax "avoidance" is still legal (tax EVASION, which is illegal, is not what the author proposes). I've represented enough taxpayers to know that the IRS would love to do away with the Taxpayer's Bill of Rights, but until that happens, taxpayers have the right to legally reduce their tax any way they can. So, that being said, the author is getting trashed from every direction, which usually means the book is good. He doesn't advocate anything that would put you in jail, but he does mention quite a few good tax shelters that almost everyone can take advantage of. By the way, the IRS has tried to make "Tax Shelter" a dirty word, but most tax shelters are completely LEGAL. Do you have a retirement plan? Then you have a tax shelter. The book could use a yearly update, which is the only reason it's getting four stars. Christy Pinheiro, EA ABA®

Insightful

I bought TaxCut software, then read this book, I end up with a tax professional to do my 2001 tax. I am glad I read this book though, I avoided making mistakes and I followed carefully to my tax attorney's advice. This book is informative and insightful.

Solid, up-to-date tax advice for 2002

Now available in a revised and updated eighth edition, What The IRS Doesn't Want You To Know: A CPA Reveals The Tricks Of The Trade is a compendium of solid, up-to-date tax advice for 2002. Chapters survey such topics as what the latest IRS targets are; ten ground rules one must never break to win with the IRS; the thirty-four greatest taxpayer misconceptions; commonly overlooked credits and deductions; what forms should never be filled out; new tax laws enabling an innocent spouse to get out of debt; how to plan IRA and pension plans; the latest taxpayer rights; and what IRS people are really like and how to work with them. What The IRS Doesn't Want You To Know is a highly practical book and strongly recommended reading for every taxpayer!

Incorporating? If so, this is a wonderful text!

My annual salary grew steadily each year since graduating from college in 1994. However, there was hardly any money to pay off my credit card bills and forget about nice vacations or investing! I'd had enough. I heard of IT jobs that paid $50/hr. (or more). One day I had a conversation with an IT contractor with 7 years experience. This man had incorporated his own business and suggested that I did for the tax benefits. However, he was not very articulate as to EXACTLY what benefits there were to incorporating. I had to know. So I purchased Marty Kaplan's 3rd edition in late 1997. On May 20, 1998 I paid a law firm $300 to formally incorporate my very own company. I was instanly a President!(I still get a kick out of my title!) I have been contracting ever since. I think that I would have been contracting whether I purchased this book or not. However, Marty Kaplan's book provided a detailed comparsion between the different types of businesses. (i.e. sole proprietorship, partnership, Limited Liability Company, C-Corporations, & S-Corporations) Marty explained the financial realities, that precious few people understand. These truths showed me the pros and cons to each business model. All the financial decisions that I made were based on the information I gleened from this book. I assure you that I am infintely better off today than I would be if I were still at my 1998 job. But, what's more is that I'm better off today than I would be if I had contracted as a "W2 employee." (which is much easier in the beginning!) It was Marty's text that enlightened me! Also, Marty speaks plainly about being audited - "...it may happen and don't panic." Marty is completely ethical. His text simply shows readers how to prevent raising red flags. (i.e. certain IRS forms have been found to be guaranteed red flags and Marty advises how to legitamately report those same expenses on the "right" forms) Marty provides excellent anecdotes that will help readers predict the IRS's behavior and steer clear of its wrath. Marty spends the remainder of the book showing you how to maximize your legitimate deductions while minimizing your tax liabity. This book paid for itself in a split second. Thank you Marty!