These two books are the most important tools you can use to help you reduce your 2016 taxes.
This book is for family child care providers who do their own taxes.
My Tax Workbook includes all new tax law changes and step-by-step instructions for completing the key 2016 federal tax forms: Form 8829 Expenses for Business Use of Your Home, Form 4562 Depreciation, Schedule C.
It also includes a description of all new tax laws affecting providers, including a discussion of several significant changes in the depreciation rules.
Did you know that you can now deduct in one year most items that cost less than $2,500? Or that there is a new, expanded definition of what is a repair? Or that you may be able to deduct home improvements in one year?
The book contains chapters on amending your tax return (Form 1040X), recapturing previously unclaimed depreciation from earlier years (Form 3115), hiring employees (which involves a series of tax forms), selling property, and more.
There are many tax rules unique to family child care. My book will give you the tools to take the guesswork out of doing your own taxes and doing them right!
This book is for family child care providers who use a tax professional to do their taxes.
My Tax Companion contains a series of worksheets and checklist tied to specific IRS tax forms (Schedule C, Form 8829, Form 4562) that you can use to compare with what your tax professional puts on your tax forms.
It offers a line-by-line commentary on these key tax forms which will help you and your tax professional understand exactly where your business deductions should be claimed.
You should give this book to your tax professional who will use it as a guide to complete your tax forms.
Unfortunately, not all tax professionals understand the unique tax rules that affect family child care providers. This is the perfect tool to use with to help identify potential errors. It also contains help on finding and resolving problems with your tax professional.
My book also contains a chapter on common mistakes made by tax professionals, along with citations to IRS written authorities that set the record straight.
Nobody likes preparing taxes. But my two books will make doing so a lot easier while saving you time and money.
Tom Copeland – www.tomcopelandblog.com