The Tax Book

[Unregistered]

Do we have to get a new tax book every year? Does the rules change that much over a years time?

[BOB W]

Every year tax book...

No you don't have to get every year. You only need one once every 5 years. Tax laws are the same year after year. By the fifth year it won't matter what the tax laws are because you will be out of business looking for a new line of work. That is after you settle all of those law suits.

Of course, a serious tax preparer needs the latest laws at all times. Your question is simular to asking "Do I need to attend all those seminars during the year just to get CPE credit".

Come on, get with the program and be the best tax preparer you can.

Are we talking about being "penny wise and dollar foolish".

[Unregistered]

No you don't have to get every year. You only need one once every 5 years. Tax laws are the same year after year. By the fifth year it won't matter what the tax laws are because you will be out of business looking for a new line of work. That is after you settle all of those law suits.

Of course, a serious tax preparer needs the latest laws at all times. Your question is simular to asking "Do I need to attend all those seminars during the year just to get CPE credit".

Come on, get with the program and be the best tax preparer you can.

Of course I go the seminars and have the latest softwares and books and pamplets I can get my hands on, but I meant The tax book itself?

[Unregistered]

No you don't have to get every year. You only need one once every 5 years. Tax laws are the same year after year. By the fifth year it won't matter what the tax laws are because you will be out of business looking for a new line of work. That is after you settle all of those law suits.

Of course, a serious tax preparer needs the latest laws at all times. Your question is simular to asking "Do I need to attend all those seminars during the year just to get CPE credit".

Come on, get with the program and be the best tax preparer you can.

Of course I go the seminars and have the latest softwares and books and pamplets I can get my hands on, but I meant The tax book itself? Does it change ALOT over the years?

[BOB W]

Book

You must be a lot smarter than I am. By the time tax season comes around some of the info I learned at the seminars can become fuzzy and when I need to research an issue I don't want to have to interpert a sentence as to whether it is old info or the same as current law.

Whatever other research books (pubs) that I have is only used when I finish searching The Tax Book. It is my main reference book and it has to be the latest current source.

Appearently you only use it occasionally and that is why you posed the question you did.

[skhyatt]

Tax Book

The tax laws change every year, so of course the information in the TaxBook will change every year too. No matter what reference material you use, wouldn't you want the most recent, so your up to date on all new laws?

[Unregistered]

You must be a lot smarter than I am. By the time tax season comes around some of the info I learned at the seminars can become fuzzy and when I need to research an issue I don't want to have to interpert a sentence as to whether it is old info or the same as current law.

Whatever other research books (pubs) that I have is only used when I finish searching The Tax Book. It is my main reference book and it has to be the latest current source.

Appearently you only use it occasionally and that is why you posed the question you did.

No I use it alot, it is my favorite book on taxes and helps alot too. I plan to get it next. Just was a question about it. Thanks for the input.

[Bees Knees]

Of course I go the seminars and have the latest softwares and books and pamplets I can get my hands on, but I meant The tax book itself? Does it change ALOT over the years?

TheTaxBook has only been in existence for one year. So unless someone ten years from now comes back to our day to let us know what the future will be like, nobody can answer your question.

However, it only stands to reason that if TTB wants to stay in business, it will need to be updated each year for the new laws. If you go to the updates page at the top of the screen, you will note that there were three major tax laws enacted in 2005 affecting tax preparation. If you go back to 1986 and count each new major tax bill passed, it comes to about one every 8 months.

[Jiggers]

New Tax Book

Sounds like a dumb question. Don't the tax tables change every year? Don't the EIC tables change every year? Don't the Standard Deduction amounts change every year? Don't the Exemption amounts change every year? Don't the mileage rates change every year? Get the picture?