Tuesday, April 07, 2009

Book Review: The Tax Lady's Guide to Beating the IRS

FULL DISCLOSURE: I was provided a complimentary copy of this book for review.

I didn't actually think that I was going to like this book as I have a very good CPA that I trust, but then I decided to read it from the perspective of someone that files their own taxes. Once I got into that frame of mind, I found this book to be extremely well-written with lots of tips that ordinary people could leverage for personal tax savings. I especially liked the detail in which the author, Robin Lynn Deutch, went into with regard to using investment vehicles such as IRAs and 401(k)s to realize large tax savings -- these are the double whammies of not only saving on taxes, but investing in your future.

The book flows well and has action steps , "Fast Facts", and "Tax Tips" clearly called out throughout the chapters, which can allow you to get through the material very quickly. There are good explanations of IRS procedures and good tips about what do and what not to do when filing your returns.

At the end of reading it, I found that it reinforced the fact that I have a great CPA as there wasn't anything in the book that we hadn't discussed; you may wish to pick up a copy just to judge the value of your CPA. Furthermore, if you file your own taxes and are looking to evaluate your options and overall tax strategy, I have not read a more easy-to-digest book on the subject.

Note that this book appears to be updated yearly as there tend to be minor and potentially major changes to tax codes that affect individuals on a yearly basis.


1 comment:

Howard Jamison said...

Unfortunately, we all seem to have a combative attitude towards the IRS. As unfortunate is the necessity of that attitude. The IRS is a machine. The more complicated a return may be will most likely lead to more scrutiny.