THE TAX LADY'S GUIDE TO BEATING THE IRS And Saving Big Bucks on Your Taxes

“Listen to me. Congress and the IRS intentionally make taxes complicated and confusing. That is their job. They want you to live in fear of them so you will gladly pay whatever amount of money they tell you to pay. Did you know that the average person overpays the IRS by over $2,000 per year? You may be one of them and not even know it! Well, guess what? It is time for you to do something about it.”—FROM THE INTRODUCTION

For nearly two decades, she’s helped thousands of clients rake in thousands of dollars in tax savings. Building the nation’s largest law firm of its kind, Roni Deutch is a sought-after attorney who has dedicated her career to serving taxpayers in need. Now “The Tax Lady” makes her valuable advice available to everyone, decoding tax laws and sharing little-known wisdom that can save readers money—and save them aggravation if they’re audited. Knowledge is the ultimate weapon (“The more you know, the less you pay,” says Deutch), and she gives taxpayers a full arsenal with THE TAX LADY’S GUIDE TO BEATING THE IRS: And Saving Big Bucks on Your Taxes (BenBella Books, March 2009, Paperback Price: $16.95, ISBN 978-1-933771-77-9).

Capturing Deutch’s no-holds-barred approach, THE TAX LADY’S GUIDE TO BEATING THE IRS is a lifeline for readers from all tax brackets. Features include:

A 1040 Treasure Map: To The Tax Lady, form 1040 isn’t a mind-numbing maze of confusion—it is the path to a gold mine, if you know how to avoid the land mines. The Tax Lady walks readers through the complete form, line-by-line, pointing out the hidden opportunities for savings, and demystifying everything from qualified dividends to the Alternative Minimum Tax.

Addition by Subtraction (The Sweet Science of Tax Deductions): What’s the difference between a deduction, an exemption and a credit? The Tax Lady spells it out, with all roads leading to less money for Uncle Sam. Find out why it’s a good idea to make a charitable contribution in the form of stock (rather than cash), the low-down on deducting job-hunting expenses and much more.

Tips for the Self-Employed: Before you decide to hang your shingle, let The Tax Lady teach you the difference between sole proprietorships and S corporations, the ins and outs of deducting home office and transportation expenses, the Self-Employment Tax, the benefits of hiring teenagers (it’s true—if you need an extra hand, and you’re operating as a sole proprietorship, wages to employees who are under 18 are exempt from FICA taxes) and other tips for living the American dream, instead of a fiscal nightmare.

How to Keep the IRS Out of Your Investment Portfolio: The battle lines between Wall Street and Congress have always been fraught with tension. The Tax Lady delivers the skinny on what this means for you, explaining the facts about holding periods, investment income that is completely exempt from taxes, wash sales versus installment sales (it has nothing to do with appliances!), understanding annuities and how unsuspecting investors undermine the tax benefits of their 401Ks.

Tackling Tax Debts and Audits: In 2007 alone, the IRS’s collections division brought in $31.8 billion and its audit bureau brought in $23.5 billion. If you are struggling with the burden of back taxes or you’ve received that bone-chilling audit notice, don’t despair. The Tax Lady spells out the current rules and options, including the Streamlined Installment Agreement and Currently Not Collectible status, along with a list of red flags to avoid, helping you steer clear of an audit in the first place.

Dozens of Other Profitable Pointers, record-keeping tips, fast facts (including the revelation that the average American worked 113 days in 2008 just to pay taxes) and a tax glossary, deciphering everything from AGI to unearned income.

Unlike other tax books, THE TAX LADY’S GUIDE TO BEATING THE IRS goes in-depth to cover everything you need to know—including an eye-opening history of the Internal Revenue Service. Every step of the way, The Tax Lady’s approach is 100% jargon-free, making it easy to savor the rewards of being a savvy taxpayer.

ABOUT THE AUTHOR:  RONI LYNN DEUTCH grew up in southern California and has worked as a tax attorney since the early 1990s. She graduated from the University of California at Berkeley, where she double majored in pre-law and ethnic studies. She holds a law degree from Western State University and obtained an advanced LL.M. degree (Latin for Legum Magister) or Master of Laws in Taxation from the University of the Pacific, McGeorge School of Law. She is also the founder of Roni Lynn Deutch, a Professional Tax Corporation and the Roni Deutch Tax Center.

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