Under Standing Your Taxes : Your Business and Rental Income, and Your Deduction for Depreciation



Understanding Your Taxes is a new series of tax publications designed to help taxpayers across the USA. The objective of these publications is to help taxpayers to understand United States income tax code as far as Form 1040; US Individual Tax Returns is concerned. With a good basic knowledge of the tax code, taxpayers will potentially be in the position to literally increase their income tax refunds (or decrease their tax liabilities) by thousands of dollars, simply by claiming all the tax deductions and tax credits that they are eligible for.Doing your own taxes is actually not as difficult a task as your tax professional might want you to perceive it to be. Actually, tax preparation software has come a long way in the past few years, making it so easy for you to prepare your own taxes, that it’s virtually impossible not to be able to understand the process, even with absolutely no knowledge of tax laws.No longer do you have to be daunted by the complexity of the tax code. Unlike most other tax publications, these publications have been compiled specifically with the taxpayer in mind, and although very comprehensive, they are also concise, and very easy to understand. This publications are very “reader friendly”—having been compiled in layman’s terms, using simple language, and avoiding tax jargon as much as possible, as they break down the relevant areas of the tax code into understandable segments. The reader, therefore, does not need to have any prior tax knowledge to easily follow what’s contained therein.


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