Series: Lower Your Taxes-Big Time
Paperback: 368 pages
Publisher: McGraw-Hill; 5 edition (April 2, 2013)
Language: English
ISBN-10: 0071803408
ISBN-13: 978-0071803403
Product Dimensions: 7.4 x 0.9 x 9.2 inches
Shipping Weight: 2.2 pounds
Average Customer Review: 4.2 out of 5 stars See all reviews (116 customer reviews)
Best Sellers Rank: #518,597 in Books (See Top 100 in Books) #78 in Books > Business & Money > Taxation > Small Business #129 in Books > Business & Money > Taxation > Personal #167 in Books > Business & Money > Accounting > Bookkeeping
I would have given it 4 and 1/2 stars but that wasn't an option. The only reason that I didn't give it 5 stars was that the book deals with small and home bases business issues and for real estate owners and investors. I am retired and thus, could only benefit from the real estate discussion.However, I did have a business before retirement.I got this book after reading a great review in the Orlando Sentinal.This book would have saved me a bundle had I known about this information many years ago. It is cleverly written and has a lot of good information that I myself never heard from my accountant. I especially liked all the examples and tips that I found really useful in understanding the tax planning sections I also liked the elaborations, which provided some nice insights into why Congress passed various laws or on what to do about certain laws,with a great deal of clarity and specificity.One very unsual feature that I found in this book that I never read in any other book was all the information that was provided on how to "audit proof" each and every tax planning strategy. I have used the J.K. Lasser guide in preparing my taxes, and I have never seen as much specific information on how to IRS bullet proof each deduction as Mr. Botkin provides.Many financial books I read are rather shallow and lack a lot of the details necessary to implement what they are suggesting. Also, there seems to be a trend in financial and real estate books to serve as a giant advertisement for consulting services or for other books. This was NOT the problem in this book,which was frankly very refreshing.Even as a retired person, I did, however, find the real estate section to be very useful.
When I think about taxes, I certainly want to save taxes,but didn't know how important tax planning would be till I read this book. I always felt that tax books would be boring or complicated. I never thought that I would find a book that would be so compelling that I didn't want to put it down! I actually got this book because of the fabulous review that I saw in our Dayton newspaper. I figured "anything with this good a review,I had to see," and they were very right.It is loaded with great information that I didn't know nor did my accountant ever tell me. In fact, Mr, Botkin was right when he said that the biggest financial myth is "my accountant takes care of my taxes."He was also very right when he noted that I should take the money saved from the ideas in this book and use it to both hire an accountant to do my tax return and pay off my debts early. His premise that "people can get rich on the money that they are already making" seems very plausible now that I have read the book and starting using his strategies.The book is remarkably well written (and this is from someone who previously taught History in high school), clear and full of great anecdotes and examples. In fact, it almost reads like a novel, and, as I said, I couldn't put it down.It also is quite humorous, and this is no small feat for a tax book. Although, I will say that Mr. Botkin's humor is a bit corny at times.I loved Mr. Botkin's method of using an introduction for each chapter discussing what will be discussed and then summarizing the strategies, not to mention all the flow charts used to illustrate each strategy. I also loved the fact that every statement that he makes is backed up by the appropriate case or IRS regulations.
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