Busy Tax Consultant - The Best Books Reviews!

This Hoover Institution Press publication by Thomas Sowell critically examines the concept of the "trickle-down theory" and the characterization of "tax cuts for the rich." Sowell argues that the "trickle-down theory" is a caricature created by opponents of tax rate reductions and lacks historical basis in economic thought. He contends that proponents of tax cuts, like Andrew Mellon, John F. Kennedy, and Ronald Reagan, actually foc...

"The Childfree Guide to Life and Money" offers financial advice specifically tailored for individuals and couples without children, challenging conventional financial planning assumptions centered on raising families. This guide encourages readers to define their own life goals before financial ones, promoting concepts like Financial Independence, Live Early (FILE) over traditional retirement planning. It addresses topics relevant ...

This guide, Tax Savvy for Small Business, aims to provide a comprehensive understanding of tax strategies for small business owners, covering topics from basic deductions and record-keeping to more complex issues like business structures, fringe benefits, retirement plans, and handling IRS audits. Authored by tax attorneys, the book explains federal tax laws and offers guidance on navigating various aspects of small business taxati...

Stephen Fishman's "Every Landlord’s Tax Deduction Guide" offers comprehensive guidance for residential rental property owners on navigating federal income tax laws. The book focuses on maximizing tax deductions, covering topics such as rental income, operating expenses, depreciation, and potential losses. It explains various IRS rules and regulations, including those related to repairs versus improvements, home office...

This 2008 NOLO guide offers professionals comprehensive information on tax deductions and business entity choices. It explains various deductible business expenses, including travel, home office, and vehicle costs, while also covering long-term asset depreciation and amortization. The book further details different business structures like sole proprietorships, partnerships, LLCs, and corporations, along with their respective tax t...

Sandy Botkin's "Lower Your Taxes - BIG TIME!" offers extensive guidance for small business owners and the self-employed to legally minimize their tax obligations. Drawing on the author's experience as a former IRS insider, the book reveals numerous strategies for maximizing deductions related to home-based businesses, meals, travel, vehicles, and home offices, while also providing advice on navigating IRS audits and understanding d...

This book, written by the experienced "TaxMama®," serves as a guide to understanding and navigating the complexities of US tax laws to maximize savings through deductions, credits, and other legal means. It aims to provide practical tips often overlooked in standard tax advice, encouraging readers to research and understand their own tax situations rather than blindly trusting advice. The text covers a wide array of topics, includi...

This source, "TAX-FREE Millionaire: How TRIPLE ZERO™ Plans Can Transform Your Future Retirement," by Mark J. Orr, introduces a retirement income strategy centered around specially designed, maximum-funded Indexed Universal Life (IUL) insurance policies, referred to as TRIPLE ZERO™ plans. These plans aim to provide tax-free retirement income, avoid stock market risk with a 0% floor and potential market-linked gains, and of...

"J.K. Lasser's 1001 Deductions and Tax Breaks 2016" serves as a comprehensive guide for taxpayers seeking to minimize their tax obligations. Authored by Barbara Weltman and published by Wiley, this book provides detailed explanations of numerous deductions and tax breaks available for the 2016 tax year. It covers a wide array of topics, including deductions related to personal and family expenses, homeownership, education costs, re...

David McKnight's book, "Tax-Free Income for Life," champions a retirement planning strategy focused on mitigating both rising tax rates and longevity risk to ensure a secure financial future. It critiques traditional approaches and introduces a comprehensive method involving the strategic use of Roth conversions, fixed indexed annuities, and life insurance retirement plans (LIRPs). The book emphasizes proactive planni...

This For Dummies guide, specifically Small Business Taxes For Dummies, aims to simplify the often complex world of small business taxation for entrepreneurs. It covers essential topics such as tax planning, understanding different business structures and their tax implications, navigating deductions and credits, and managing employment taxes. The book also addresses crucial aspects of running a small business that intersect wit...

Tom Wheelwright's "Tax-Free Wealth" aims to educate readers on leveraging the tax code to build substantial wealth by legally and permanently reducing their tax obligations. The book asserts that understanding and utilizing intended tax benefits for entrepreneurs and investors is not only permissible but encouraged by governments to stimulate economic activity. Wheelwright, Robert Kiyosaki's tax advisor, expla...

Andrew Henderson's "Nomad Capitalist" advocates for maximizing personal freedom and financial prosperity by strategically living, banking, and investing internationally. The book encourages readers to "go where you're treated best" by exploring opportunities beyond their home country's borders. It covers topics such as establishing location-independent businesses, obtaining second citizenships, a...

Mark J. Kohler's "The Tax and Legal Playbook" aims to equip small-business owners with crucial strategies for legally minimizing taxes, protecting assets, and navigating business structures. The book explores various entity types like LLCs, S-corps, and C-corps, highlighting their tax implications and liability protections. Kohler provides actionable advice on tax deductions, including travel, home office, and hea...

This Executor's Guide provides a comprehensive overview of the responsibilities involved in settling a deceased person's estate or trust. It outlines the initial steps following a death, such as arranging funeral services and securing assets. The book details the process of identifying and managing assets, paying debts and taxes, and distributing property to beneficiaries, whether through probate or trust administration...

This guide from ClydeBank Media offers a comprehensive overview of tax obligations and considerations for small businesses, including sole proprietorships, startups, and LLCs. It explains fundamental tax concepts like cash versus accrual accounting and the various levels of taxation (federal, state, county, city). The text details how to choose the correct business entity, navigate interactions with the IRS, maintain proper fin...

This book, The Book on Advanced Tax Strategies for Savvy Real Estate Investors, offers guidance on legally minimizing tax burdens for real estate investors. Authored by Amanda Han and Matthew MacFarland and published by BiggerPockets Publishing, it explores various advanced techniques beyond basic deductions. The text covers topics like tax reform impacts, depreciation strategies including bonus and cost segregation, the benefi...

This document, "475 Tax Deductions for Businesses and Self-Employed," serves as a guide to understanding the various tax deductions available to businesses and self-employed individuals in the United States. Authored by a CPA, it aims to demystify complex tax laws by explaining terminology and basic rules in accessible language, often referencing free IRS publications for detailed information. The text cautions agains...

This book from the Wiley Finance Series explores the pervasive issue of accounting fraud. It examines historical and contemporary cases of financial reporting manipulation across the globe. The author details various methods of both legal and illegal manipulation, explaining the motivations behind these actions and their serious economic consequences. Furthermore, the text identifies numerous warning signs, categorized as organ...