J.K. Lasser’s Your Income Tax 2008: For Preparing Your 2007 Tax Return
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Navigating the ever-changing income tax landscape is no easy task. Each year, millions of taxpayers are affected by new IRS regulations, federal court decisions and amendments from congressional tax committees. This year alone, there are many important developments such as the AMT exemption, new parameters on charitable giving, as well as regulations on residential energy improvements. To make informed decisions about income taxes and the changes that impact your return, there’s only one guide that won’t lead you astray. J.K. LASSER’S YOUR INCOME TAX 2008 is a proven, accessible resource with important strategies, useful recommendations and of course, all the latest tax law changes.
Finding the new deductions and planning opportunities can be daunting but savvy taxpayers know they can rely on J.K. LASSER’S YOUR INCOME TAX 2008: For Preparing Your 2007 Tax Return to pinpoint and explain last minute changes they may have missed. Coverage of current tax law changes, both comprehensive and comprehensible is what the Lasser team of experts provides.
J.K. LASSER’S series of tax guides have been well received by professionals and consumers because they are authoritative, easy-to-use and concise. Here are some highlights:
- Form 1040 mapped to the section of the guide you need
- Line-by-line explanations and instructions for commonly used forms
- More than 2,500 easy-to-use tax planning tips and strategies
- Quick-reference section highlighting what’s new (good or bad) for 2007
- Key tax numbers for 2007 – the most important limits and maximums at a glance
- Special rules and strategies for the self-employed
BUY NOW!: J.K. Lasser’s Your Income Tax 2008: For Preparing Your 2007 Tax Return
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Filed under Books by on Aug 24th, 2009. Comment. 
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Comments on J.K. Lasser’s Your Income Tax 2008: For Preparing Your 2007 Tax Return
This is the craziest review I've ever written, but there is a problem with this book. Smells – literally. I am a tax preparer and JK Lasser is usually my favorite go to the source when I have a question, but the book this year odors. He made a sort of strong smell of rancid chemically. I was buying this book for years, and there was never a problem before, but this year is different. I do not know what to say. Lasser done its usual excellent job explaining the tax law, but if you are sensitive, the smell of this book is probably really upset.
Rating: 2 / 5
Among the tax books, it has the most favorable analysis from the perspective of taxpayers.
Rating: 5 / 5
I have not used this book much to pay my taxes. Information about deductions seemed incomplete and lacked details. I was always directed to the IRS website for info. I used TurboTax this year and probably could have done without this book. It is a great resource if you plan to file your own taxes on paper.
Rating: 3 / 5
Perhaps if I were an accountant, I give it four or five stars. But for me it is written for someone who knows much more than me. It is excessive – too complicated for me to buy again. My tax situation is simple, but the book has so much, complated situations, etc., it is of limited utility for me. Lasser I would write a book for people like me – not so knowledgeable and with a situation which requires only the basics, plus some buying and selling of mutual funds and stocks. Tax software is enough for me.
Rating: 3 / 5
There are two reasons to read this book. 1) You are preparing a paper return and want to know more than what is printed in the "IRS Forms and Instructions. 2) You want to read and learn more than what you get from a tax preparer or software. Since your business activities have tax consequences, you should read or browse the relevant sections of this book as it applies to you. Some ignore the consequences of the tax until its too late. Since most people can not tax lawyers, and may not be able to get advice on a phone, or even from the Internet, you need to refer to this book as required. Do not be afraid of the size of the book as most people will not need all the chapters. Chapter 1 covers your "Filing Status". Chapters 2 through 11 covers the taxable wage, salary, other compensation, benefits, dividends and interest, property sales, Tax-free exchanges of property; IRA pension and annuity income, and the rents and royalties, restrictions on the loss, the other income. Chapters 12 to 21 covers deductions from adjusted gross income; standard or detailed deductions; charitable contributions, deductions for interest, taxes, medical expenses, accidents and loss of flight, postage and miscellaneous costs, the travel and leisure and personal exemptions. Chapters 22 to 27 explain how to calculate your taxes, tax credits and deductions. Chapters 28 to 31 about tax planning and savings. Chapters 31 to 39 explain areas that the average person needs rarely. Chapters 40 and 45 has important subjects for the self. Chapters 46 and 47 tell about your tax filing claims and amended returns. [The easiest way to fill out a 1040X is to fill in the new 1040 and then copy the information to the 1040X. ] Chapter 48 provides guidance in case the IRS examines your return so that you may be informed and prepared. Page 724 speaks of "Cases against the IRS for Unauthorized Collection"! To learn more about the history of U.S. tax policy, you need a book in economic history. Income taxes today fall more heavily on workers from the less complex, 1862, 1893 and 1916 tax codes on income. They had a relatively simple way. Class and sectional differences do politics and politics make the tax code. Special Issues continue to complicate the tax code.
Rating: 5 / 5