A Little Perturbed

[beck]

My go-to book for years has been the Tax Book Deluxe Edition Plus (which states Federal, 1040, Small Business, Estates and Trusts). Imagine my surprise when I am reading the handy dandy newsletter released on 12/31/14 on the Health Care Reform to find some line-by-line explanations of Form 8965, 8962, and 1095-A can only be found in The Tax Book Health Care & Retirement Edition!! Are you kidding me? Shame on you Tax Book

Beck

Thoughts anyone? Or am I wrong?

[ATSMAN]

ACA and the confusion created by the law is a big boon to publishers. I must get an e-mail every day offering some book, guide or course!

So I am not surprised that TTB created a separate edition for that!

If you don't want to pay for that you can get enough information in online research services such as Checkpoint, Intelliconnect etc. to get by!

[mastertaxguy]

Multiple tax books for a multitude of sins

1. Interesting point.
2. TTB, like QF, puts Depreciation tables and tabs in their individual TP books (1040's) [at least that is what QF used to do--I no longer get their publications by choice]. Which is why such information is normally not in the business returns edition. At least they have not yet 'forced' tax pros to buy a separate depreciation book (even though one is offered which includes more detailed coverage).
3. Each has a 'deluxe edition' which does not include some topics covered in their business editions.
4. Perhaps most taxpayers, ACA issues are going to be resolved either with full coverage for the year (check the box), or no coverage for the year (compute penalty).
4a The biggest ACA issue is likely to be entering the data using tax prep software. The Labyrinth of steps seems to be designed, at times, by a Rube Goldberg disciple. Drake, for example.
5. For those with premium credits or tax credits, or partial year coverage and all that, more in depth coverage is going to be needed and that is why a separate health care TTB is needed. AT least if you order both at the same time, there is a partial discount. (Wonder if the discount would apply if you order it later in the tax season after your 'normal' TTB orders?).
6. Pretty soon, TTB and others will not offer printed copies anyway: everything will be on line, and we can use our own paper, toner, etc to print up copies if desired.
7. We get what we pay for. And what we allow others to do to us.
8. At the offices (plural)I work at, having the separate health care book from TTB was of great help last year. When, and if, my order for this year arrives I am sure it will be helpful.

[Gretel]

I am glad they did not put all the ACA information in the "regular" book and have everyone pay for it, or do you think they could do all this extra work and not charge for it?

Now we have a choice to pay for an extra book with information right at our fingertips. Last year I purchased the ACA book and it was of great help. Since I have very few clients (and will not take any new clients this year) that are effected by the complications of ACA I will not get the extra book this year.

[Lion]

Try pages 1-7 through 1-11. That's as many pages as most topics in a book trying to cover every individual and business topic we might encounter and then refer us to more in depth publications. After all, the cover says "Real Answers. Real Fast!" Not complete and total coverage of everything.

[Bees Knees]

Well, actually, the 1040 Edition DOES cover 95% of all ACA issues concerning the new Forms, just not in line-by-line format.

• All of the health coverage exemptions, including whether or not you need a Marketplace exemption certificate, is covered on page 1-10.
• All of the hardship coverage exemptions are covered starting on page 1-15.
• The worksheet to calculate the penalty for not having health insurance is found on page 1-11.
• Detailed explanations of how to fill out part 4 of Form 8962 is covered starting on page 1-13.
• Details of how to calculate the self-employed health insurance deduction for taxpayers who get the PTC are found starting on page 1-14.
• Terminology and explanations of how to fill out Form 8962 using information from Form 1095-A are found starting on page 11-12.
• Terminology and explanations of how to fill out Form 8965 are found starting on page 3-23.
• A roadmap of how all the ACA forms interrelate to each other is found on page 1-9.

All in all, I find at least 9 full pages in the 1040 Edition of information on how to complete Forms 8962 and 8965 using info from Form 1095-A. The health care edition with line-by-line explanations has 42 pages in that tab section. A good balance between one book that summarizes tax law verses another book that provides in-depth details.

BTW, word on the street is the What's New In-Depth Edition will also contain those 42 pages of line-by-line details, so if you don't want a book entirely devoted to health care but want it to contain other new stuff, get the What's New In-Depth Edition. Word on the street also says TTB is working on a health care question organizer that will walk you through everything you need to ask clients, soon to be posted under the "Tools For Tax Pros" section of this website, which is free to anyone who purchased any of TTB products this year.

[BP.]

Try pages 1-7 through 1-11.

On pages 1-2 to 1-5 the rows have very handy categories on the left margins now.

[jacobtaxbook]

Thank you so much!

Beck - So good to hear customer feedback. I tell everyone this really helps us determine what's working and areas we can improve. Please don't ever hesitate to reach out via email or phone call should you need assistance with anything as we are always happy to help the best way we can. Just know we really appreciate your business and hope you have a blessed upcoming tax season!

[beck]

Well, actually, the 1040 Edition DOES cover 95% of all ACA issues concerning the new Forms, just not in line-by-line format.

word on the street .

Thanks Bees Knees for your insight and I love your "word on the street" references!

Beck

[August @ ADG Financial]

ACA Book

I didn't order the ACA Book but the CPA who does work for me did. He showed it to me yesterday. Wow, it's larger than the
1040 Plus edition. They should charge for it!