As I mentioned before, and as evidenced by my theme for the week (tax week), tax season is upon us. As I also mentioned, I got a nice copy of the 2007 Ernst & Young Tax Guide(aff). And boy oh boy is it a hefty Goliath of a tax guide.
Aside from the few days surrounding the Christmas holiday, I’ve spent a little bit of time each day wading through the guide. It’s 755 pages of tax preparation goodness. Ok. I’m being a little tongue in cheek there. It is 755 pages and it has more information than I could possibly ever expect to take in.
What the book would/will be extremely useful for is the random question on my tax return. Each and every topic in the book is explained in detail and made understandable (If that’s truly possible.). It has definitely earned a spot on the side of my desk as I begin preparing my taxes this year. I’ve already found quite a few topics that needed clarification and the book had the answers for.
The book is broken up by light blue boxes of information that I found to be almost more valuable than the rest of the book. Some of them have a clear explanation of the tax law being discussed while others have key planning points, tax law change alerts, and tax saver tips. There’s an excellent Glossary at the end and what would appear to be nearly every common tax form available. Add to that two indexes and you’ve got what could be the most comprehensive tax guide I’ve ever seen. While I doubt it’s the most all encompassing available, I have little doubt that it is the best available for the common man. If you’re not a tax professional, this is the book for you.
If you take any part of your tax preparation beyond taking a box full of disheveled papers to an accountant, you should pick up a copy of this book. You’ll learn a lot about the tax law.