Description
Jeff A. Schnepper is the author of How to Pay Zero Taxes, a bestseller now in its seventeenth annual edition, as well as several other books on finance and taxation. He is the financial, tax, and legal advisor to the Transamerica sales force and runs a full-time accounting and legal practice in Cherry Hill, New Jersey. Mr. Schnepper also writes a column for Microsofts online personal finance website, MoneyCentral, and is a tax strategist and advisor for TheTaxPeople.net, and the ORYAN Program. ACKNOWLEDGMENTS CHAPTER 1 Tax Insanity CHAPTER 2 Is It Legal? CHAPTER 3 How Our Tax System Works CHAPTER 4 Exclusions-Tax-Free Money A Alternatives to “Earned Income” 1. Hospitalization Premiums 2. Group Life Insurance Premiums 3. Group Legal Services Plans 4. Accident and Health Plans 5. Employee Death Benefits 6. Merchandise Distributed to Employees on Holidays 7. “Expenses of Your Employer” 8. Meals and Lodgings 9. Employee Discounts 10. Workers’ Compensation 11. “Cafeteria” Plans and Flexible Spending Accounts 12. Dependent Care Assistance Program 13. Employer Educational Assistance 14. Employee Awards 15. Clergy Housing Allowance 16. Miscellaneous Fringe Benefits & nbsp; B Donative Items 17. Gifts, Bequests, and Inheritances 18. Scholarships and Fellowships 19. Prizes and Awards 20. Qualified Charitable Distributions (QCDs) C Investors 21. Interest on State and Municipal Obligations D Benefits for the Elderly 22. Public Assistance Payments 23. Social Security and Other Retirement Benefits 24. Annuities 25. Sale of Your Home E Miscellaneous Individual Exclusions 26. Carpool Receipts 27. Damages 28. Divorce and Separation Arrangements 29. Life Insurance 30. Qualified State Tuition (529) Programs 31. Your Home-The Mother of All Tax Shelters! 32. Disabled Veteran Payments 33. Exclusion of Income for Volunteer Firefighters and Emergency Medical Responders 34. Unemployment Benefits 35. Homeowner Security &n bsp; 36. Reimbursed Costs to Parents of Children with Disabilities 37. Wrongful Conviction and Incarceration 38. Restitution Payments 39. Frequent Flier Miles 40. Hurricane Sandy 41. Cancellation of Indebtedness 42. Medicaid Payments for Foster Care of Related Individuals 43. ABLE Accounts 44. Foreign Earned Income Exclusion F Schedule of Excludable Items CHAPTER 5 Credits-Dollar-for-Dollar Tax Reductions A Estimated Tax and Withholding Exemptions B Credits 45. Refundable The Earned Income Credit 46. Excess Social Security Tax 47. The Child and Dependent Care Credit 48. Credit for the Elderly or Permanently and Totally Disabled C Special Credits 49. Work Opportunity Credit (Formerly Targeted Jobs Tax Credit) 50. Welfare to Work Credit 51. Research Tax Credit 52. Orphan Drug Tax Credit 53. Adoption Assistance 54. Hope Scholarship Credit 55. American Opportunity Tax Credit ; 56. Lifetime Learning Credit 57. Child Tax Credit 58. Disability Credits 59. Health Insurance Credit 60. Saver’s Credit
