The Final Word on How to File, Save and Plan Under the New Tax Law
Now that the Economic Growth and Tax Relief Reconciliation Act of2001 is here, isn’t it time you learned how to take advantage ofit? Ernst & Young’s Profit from the New Tax Law explains thenew legislation in an easy going and friendly way, helping youunderstand the new rules and how they affect someone in your taxbracket. This indispensable guide, from one of the country’sleading authorities on tax planning, removes all confusion aboutthe new law and shows you how to keep more of your money. Simpleexplanations and smart tips let you take advantage of the new lawtoday while identifying your best tax-saving moves tomorrow.
Mục lục
About the Authors.
Introduction.
The Big Changes.
What You Need to Know.
Tax Law Changes: Year at a Glance.
Tax Law Changes: Topics at a Glance.
Advance Payment Checks.
Income Tax Rates.
Alternative Minimum Tax Exemption.
Married Couples.
Child Credit.
Individual Retirement Acounts.
Qualified Retirement Plans.
Education.
Estate and Gift Tax.
How the New Tax Law Was Won.
New Tax Rates and Income Brackets.
Brief History of the U.S. Income Tax.
Federal Income Tax Rates (1913-2001).
PART I: WHAT YOU NEED TO KNOW NOW.
Questions About the New Tax Law.
How to Profit from the New Tax Law in 2001.
How to Profit from the New Tax Law in 2002.
How to Reduce Your Adjusted Gross Income.
Tax-Return Mistakes That Raise IRS Red Flags.
PART II: PROFITING FROM THE NEW TAX LAW.
1. Advance Payment.
The Big News.
Background.
The New Law.
What You Need to Know.
Q&A.
2. Tax Rates.
The Big News.
The First Change.
Background.
The New Law.
What You Need to Know.
Q&A.
The Second Change.
Background.
The New Law.
What You Need to Know.
The Third Change.
Background.
The New Law.
What You Need to Know.
Q&A.
The Fourth Change.
Background.
The New Law.
What You Need to Know.
Q&A.
3. Alternative Minimum Tax.
The Big News.
Background.
The New Law.
What You Need to Know.
Q&A.
4. Married Couples.
The Big News.
The First Change.
Background.
The New Law.
What You Need to Know.
Q&A.
The Second Change.
Background.
The New Law.
What You Need to Know.
Q&A.
The Third Change.
Background.
The New Law.
What You Need to Know.
Q&A.
5. Tax Credits for Children.
The Big News.
The First Change.
Background.
The New Law.
What You Need to Know.
The Second Change.
Background.
The New Law.
What You Need to Know.
Q&A.
The Third Change.
Background.
The New Law.
What You Need to Know.
Q&A.
6. IRAs.
The Big News.
The First Change.
Background.
The Two Types.
The New Law.
What You Need to Know.
Q&A.
The Second Change.
Background.
The New Law.
What You Need to Know.
Q&A.
The Third Change.
Background.
The New Law.
What You Need to Know.
Q&A.
7. 401(k) and Other Company Retirement Plans.
The Big News.
The First Change.
Background.
The 401(k) Plan.
The 403(b) Plan.
SIMPLE Plan.
SEP Plan.
457 Plan.
The New Law.
What You Need to Know.
Q&A.
The Second Change.
Background.
The New Law.
What You Need to Know.
Q&A.
The Third Change.
Background.
The New Law.
Q&A.
The Fourth Change.
Background.
The New Law.
What You Need to Know.
The Fifth Change.
Background.
The New Law.
What You Need to Know.
Q&A.
8. Education.
The Big News.
The First Change.
Background.
The New Law.
What You Need to Know.
Q&A.
The Second Change.
Background.
The New Law.
What You Need to Know.
Q&A.
The Third Change.
Background.
The New Law.
What You Need to Know.
The Fourth Change.
Background.
The New Law.
What You Need to Know.
The Fifth Change.
Background.
The New Law.
What You Need to Know.
9. Estate, Gift, and GST Tax.
The Big News.
The First Change.
Background.
The New Law.
What You Need to Know.
Q&A.
The Second Change.
Background.
The New Law.
What You Need to Know.
Q&A.
The Third Change.
Background.
The New Law.
What You Need to Know.
The Fourth Change.
Background.
The New Law.
What You Need to Know.
10. Sunset Provision.
What You Need to Know.
Index.
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and global businesses.