Description
Book SynopsisSave BIGGER THAN EVER with this fully updated edition of the classic tax-saving guide!
Tax whiz Jeff Schnepper has been helping ordinary taxpayers dramatically lower their tax bills for decades. Now, Schnepper brings his classic guide up to date for the coming tax season.
Presented in language anyone can understand, How to Pay Zero Taxes 2020-2021 delivers everything you need to take full advantage of the newest tax lawsâand pay the IRS less than ever before. Schnepper uncovers hundreds of sanctioned deductions, shelters, credits, and exemptions and provides invaluable tax tips youâll only find here. Youâll learn how to navigate the tax code like a pro and save the maximum legal amounts on:
â Capital gains and dividends
â IRA and retirement plans
â Converting personal expenses into deductible business expenses
â Charitable deductions
â Child care and elder care
â 
Table of Contents
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
