Taxes 2008 For Dummies
Chapter One
Understanding the U.S. Tax System
In This Chapter
* Making sense of our tax system
* Managing your taxes year-round
* Understanding the importance of "marginal" taxes
* Comprehending state taxes and the Alternative Minimum Tax
Most people - including your humble authors - find taxes to be a pain. First, everyone
faces the chore of gathering various complicated-looking documents to complete
the annual ritual of filling out IRS Form 1040 and whatever form your state may require. You
may need to become acquainted with some forms that are new to you. Perhaps you need to
figure out how to submit a quarterly tax payment when you no longer work for a company
and now receive self-employment income from independent contract work. Maybe you sold
some investments (such as stocks, mutual funds, or real estate) at a profit (or loss), and you
must calculate how much tax you owe (or loss you can write off).
Whenever money passes through your hands, it seems that you pay some kind of tax.
Consider the ... read full excerpt from Taxes 2008 For Dummies ebook
