PLUS: Money-Saving Secrets
■ The ALL-NEW change that will instantly help 70% of Americans! Chapter 1 explains how easy it is to cash in.
■ Get a 100 percent write-off buying a new business car your irst year! See Tip #61.
■ Get the government to help pay your energy bill. Tip #30 is HUGE!
■ The most overlooked tax deduction many accountants don’t even know. Tip #5.
■ How you can still deduct the mortgage interest on TWO homes! Tip #12 reveals the details.
■ ALL NEW! Take $10,000 of distributions from 529s to help cover the cost of home schooling. Tip #184 shows you how.
■ Do you drive for Uber or use your car for work? Tip #78 steers you to the biggest deduction.
■ Get more money back for each qualifying child you have under 17. Chapter 1 shows you how.
■ A better way to save for college. Tip #168 could help millions.
■ 13 tax no-nos that could trigger an audit. The full list and explanations are yours in Chapter 12.
■ ALL NEW! Deduct more for medical expenses! The threshold for medical expenses plummets by 25%!
■ Why you should never, ever donate your car no matter how worthwhile the organization. Tip #111.
■ 3 deductions that usually slip right past the IRS. This is Tip #1 for a reason!
■ Collect rent payments the IRS doesn’t count as income. TIP #43 lets you earn extra cash tax-free!
■ Cosmetic surgery costs you can legally deduct. TIP #207 explains.
■ Deduct medical costs for a dependent who isn’t a dependent. TIP #80.
■ Get the IRS to waive penalties for mistakes you made on your taxes. Everyone needs to know TIP #190.
■ Make a bundle of money helping the IRS. Check out TIP #226.
■ 3 big state-tax deductions most people miss — including tax pros! The amount you’re deducting can easily add up to thousands of dollars. Don’t miss TIP #9.
■ Are you caring for a loved one? Maybe your parents still live on their own, but you’re stopping by a few times a day to help with medications or to bring them food. Or maybe you had your dad move in with you. The government will pay you to take care of any family members in need. And the income isn’t taxable. You pay zero taxes on the money you earn. TIP #96 is a true blessing.
■ Worried about having enough money for retirement? TIP #148 shows you how to boost the income in your Social Security account.
■ The most overlooked tax deduction — I’ve met accountants who don’t know this. If you’ve got an RV, motorcycle, boat or other “toy,” TIP #5 reveals the deduction you can take — right down to the line on schedule A where you’ll put the dollar amount!
■ Thinking of re inancing? Beware: The new law only allows you to deduct the interest on the original loan balance. TIP #12 could save you from making an expensive mistake.
■ ALL NEW! Give your child the very best education whether you want to send them to private school or home school. TIP #184 is a godsend that shows you how to help cover the cost for materials, tutors, and more.
■ Get Uncle Sam to help pay your energy bill. TIP #30 shows you how to get your hands on this money — and even how it can make you extra cash when you sell your home.
■ Get tax-free money in retirement! TIP #125 shows you how to put away money for retirement you can take out without paying taxes — and you don’t have to take those pesky required minimum distributions. Another bonus? Any money left goes to your heirs tax-free!
■ The medical deduction you’re probably missing. Buried deep in the tax code is this gem that lets you legally deduct the cost of medical travel! TIP #87 shows you how to deduct hotel stays for out-of-town care, miles driving to and from doctors, therapists, labs, and more.
■ Give your grandkids money for college without paying a dime in gift taxes. If you follow TIP #163, it lets you give them as much as you want without paying gift taxes.
■ Do you prepare your own taxes? TIP #220 reveals the 9 adjustments you’re probably missing on your 1040 form. These hidden adjustments could help you save a bundle.
■ Pay zero taxes on required minimum distributions (RMDs). When you reach the age of 72½ you must start taking distributions from your IRA. Since you didn’t pay taxes when you put the money in, you have to pay up when you take the money out — unless you know the special provision revealed in TIPs #132 and 133.
■ And hundreds more tax deductions, tips and loopholes!