Originally posted by Bradley J. Imsdahl, EA:
-
I used TheTaxBook Deluxe Edition for 2005 and 5 QB's (1040+planning, Small Bus+planning and Depr.). The bottom line is that 1 Deluxe Edition just simply cannot contain all the information needed. True, with the 5 QB's there is duplicate information, but there is a lot of information/explanation in QB that is just not in TheTaxBook and should be. I suggest you reconsider your opinion and expand the number of books as it is the information that we seek..not just 1 book to lay on the desk for that fast answer that never seems to be there. -
Sometimes you get what you pay for. -
Price is not the object... or considered in the original post. I would gladly pay more for more tax information/explanations.Comment
-
1 Book Vs ??
I am pleased with the "1" Taxbook, at least incorporating the individual and small business into ONE Book. One less book on my desk and less duplicating information.
I do still use the QF Accounting and Bookkeeping Book for puzzling entries on QB, and am thinking of ordering the Depreciation Book (Abby posted that one on the "Sign"), depreciation is such a "large" topic and it seems we can never have enough at our fingertips!
The only other book I had ordered from QF on the changeover was the Tax Planning for individuals, and honestly I have not looked at it much. I guess I just rely more on the Interent and This Message Board.
So between the Tax Book Deluxe, This Message Board, and Internet Search I find most of my answers.
Maybe instead of additional books, the new WEB CD could address some other issues, that are not included in the Tax Book Deluxe, so we don't have a multitude of reference books that have a lot of duplication. I would welcome WEB as much as an additional manual. I just now cleaned out about 3 or 4 years worth and stored them in a cabinet in case I needed them, but I doubt that I will look at them much again.
SandyComment
-
Entire Library?
Old Jack - is it not enough to have one book for 99% of the problems we confront? Most of us have access to other information if we really need it. I don't believe the objective of a tax guide book is to encompass every single bit of information one could foresee needing. You could fill a wall with that kind of stuff.
Do you not, however, have the need for a single reference book that can spare you from this behemoth library 99% of the time? Of course, none of us have the right to be so bold as to tell you how to operate, but I think most of prefer one handy source at our fingertips for almost all situations instead of scrounging and shuffling around or googling up tax topics, or worse still, the code and/or regulations.Comment
-
2 books, 1 for the 1040 and 1 for business is not too many to lay on a desk and doesn't have to have all that much duplication if sold as a set. Maybe they would not have to be so large. Yes, I have always had several library resources as 1 summarized fact book is just not enough for those tough questions in a full-time practice. If TheTaxBook actual did cover 99%, I would be happy and have no other books. If summarized fact books covered 99% there would be no CCH, RIA, etc. As long as price is reasonable it would not be a factor with most professional tax preparers and for those that are not... tough they should not be in the business anyway.Originally posted by Snaggletoof
Like you say.. you don't tell me how to run my business and it is not my intention to tell TheTaxBook or anyone else how to run theirs. It is just my opinion and suggestion as feedback and it was a question here as to how others on this forum felt about the same.Comment
-
Eaiser to find
I find with multiple books, it's easir to find something. If everything is in one book, it's more cumbersome filtering thorugh the index's , table of contects, etc. in that one book becasue there is more to look through. In fact, I would like to see a separate book for the 990, 706, 1041, 1120's and 1065's. So thats just my humble little opinion.Comment
-
I agree you cannot fit as much in one book as you can in five. My quote was not about volume. It was about speed. 95% of every federal tax question I have can and should be answered in one book. The other 5% of the time, I use other sources.Originally posted by OldJackComment
-
Originally posted by S T
That is exactly what the WEB CD is designed to do. It is fully linked to IRS Publications and other source documents to provide further information on that 5% of the time that you need additional information. For example, TTB Tab 4 contains 5 pages on the subject of deductible medical expenses. IRS Pub 502 contains 31 pages on the subject. If you are looking for information on Nursing Home expenses covered on page 4-7 in TTB, but that did not fully answer your question, one click on the subheading “Nursing Home” will link you to page 11 in IRS Pub 502, which may contain additional information.
Or, you might be interested in the court case on page 4-11 under the topic “Legal Liability” in regards to the rule that you have to be legally liable for a loan in order for the interest to be deductible under the home mortgage interest rules. That court case is one of those rare exceptions to the rule, and maybe your client is in a similar situation. You need to dig further and would like to read the entire court case, not just our one paragraph summary. One click on the citation “Uslu, U.S. Tax Court, December 16, 1997,” will link you to the full 12 page court decision, allowing you to read the entire case.
By using TheTaxBook in conjunction with the Web CD, you essentially have a full complete tax library that will get you to the detailed information on any one topic, fast.Comment
-
Another Request
Brad,
Will either The Tax Book or the Web CD have information on the 1120H forms for the HOA's?
Another entity/form that I and maybe others don't prepare many of like the 990 or 990EZ forms, but additional info would be helpful.
SandyComment
-
Basic requirements for the 1120-H Homeowners Associations was covered in TheTaxBook last year on page 18-16. The business return information in Tabs 18, 19, and 20 will be expanded somewhat this year to provide information that didn’t fit last year. It is always a juggling act to decide how much space to devote to each topic, as some topics were covered more extensively than others, for obvious reasons.Originally posted by S T
The 990 section this year will provide basic qualifications, filing requirements, etc. in Tab 22. Things that will be cut way back to make room in Tab 22 are the Tax Planning For Annuities and VEBA information.
A nice feature of the WEB CD will be that even if the coverage is short and basic, you will have instant links to the best IRS information on these subjects.Comment
-
I have the deluxe additon and I am sure that I won't order one BIG book in the future. I found it was heavy and tuff to deal with during tax season.. I will order the seperate books in the future.Comment
-
big book
There is nobody with smaller arms than Bjorn. I have no trouble with the heavy factor. I say pack as much as you can into one book and have it handle 95+% of the research issues.Comment
-
One Book
As said and I did not find everything that I was suppose to have found, which was pointed out in previous posts, I still like one book, on my special place on my side credenza close at hand. The ONE taxbook stays flipped open at all times, at ready reach to flip pages!
I just need to remember to look at the index for searching!
SandyComment
Comment