The leading desk reference for US personal income tax return preparation for professionals
In J.K. Lasser's Your Income Tax 2025, Professional Edition, a team of veteran tax preparers and educators delivers an intuitive and comprehensive roadmap to helping your clients prepare their 2024 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 2024 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 2024 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 2025 is the gold standard desk reference for tax preparers serving individuals in the United States.
By:
J.K. Lasser Institute
Imprint: John Wiley & Sons Inc
Country of Publication: United States
Edition: 4th edition
Dimensions:
Height: 279mm,
Width: 221mm,
Spine: 46mm
Weight: 2.427kg
ISBN: 9781394298471
ISBN 10: 1394298471
Series: J.K. Lasser
Pages: 1104
Publication Date: 24 March 2025
Audience:
General/trade
,
ELT Advanced
Format: Hardback
Publisher's Status: Active
What’s New for 2024 xxix Tax News for 2024 xxix Expiring Provisions xxxi Key Tax Numbers for 2024 xxxii Tax-Saving Opportunities for 2024 and Beyond xxxiv Filing Basics 1 Before you get Started 3 Filing Status 13 Dependents 39 Wages, Salary, and Other Compensation 53 Fringe Benefits 72 Dividend and Interest Income 97 Reporting Property Sales 125 Tax-Free Exchanges of Property 174 Retirement and Annuity Income 189 IRAs 226 Income From Real Estate Rentals and Royalties 279 Loss Restrictions: Passive Activities and At-Risk Limits 299 Other Income 329 Claiming Deductions 355 Deductions Allowed in Figuring Adjusted Gross Income 357 Claiming the Standard Deduction or Itemized Deductions 364 Exceed Your Itemized Deductions? 366 Medical and Dental Expense Deductions 371 Deductions for Taxes 391 Itemized Deduction for Interest Expenses 400 Charitable Contribution Deductions 418 Casualty and Theft Losses and Involuntary Conversions 445 Other Itemized Deductions 470 Travel and Meal Expense Deductions 473 Personal Tax Computations 495 Figuring Your Regular Income Tax Liability 497 Alternative Minimum Tax (AMT) 502 Computing the “Kiddie Tax” on Your Child’s Unearned Income 510 Personal Tax Credits Reduce Your Tax Liability 516 Tax Withholdings 540 Estimated Tax Payments 548 Additional Medicare Tax and Net Investment Income Tax 554 Tax Planning 561 Tax Savings for Residence Sales 563 Tax Rules for Investors in Securities 581 Tax Savings for Investors in Real Estate 598 Tax Rules for Investors in Mutual Funds 612 Educational Tax Benefits 621 Special Tax Rules for Senior Citizens and the Disabled 640 Members of the Armed Forces 655 How To Treat Foreign Earned Income 663 Planning Alimony and Marital Settlements 674 Other Taxes 679 Gift and Estate Tax Planning Basics 685 Business Tax Planning 695 Income or Loss From Your Business or Profession 697 Retirement and Medical Plans for Self-Employed 727 Claiming Depreciation Deductions 740 Deducting Car and Truck Expenses 757 Sales of Business Property 772 Figuring Self-Employment Tax 779 Filing Your Return and the Process After You File 789 Filing Your Return 791 Filing Refund Claims, and Amended Returns 800 If the IRS Examines Your Return 804 2024 Tax Forms 817 Tax Law Authorities 857 Citations of Authority 863 Practice Before the Irs 975 Written Information Security Plan 1015 Glossary 1033 Index 1039
