The 32nd edition of the guide includes a new chapter with insights on the 3.8 percent levy on certain investment income known as the Net Investment Income Tax (NIIT). In addition, the Tax Guide includes tips for people who make income aside from a job such as renting their homes and winning money in fantasy sports. The EY Tax Guide 2017 also helps people with a small business understand planning ideas relevant to their situation.
"Every year taxpayers go through the frustration of comprehending IRS rulings and the unclear tax language that comes along with it. What makes the EY Tax Guide so special is how it simplifies all that jargon and provides taxpayers a straightforward way to look at and plan for their taxes," said Greg Rosica, contributing author to the EY Tax Guide 2017.
"This year's guide offers specific advice tailored to homeowners, self-employed entrepreneurs, business executives, and senior citizens, helping taxpayers take advantage of many savings opportunities."
Available in all e-book formats (eMOBI, ePUB and ePDF) as well as traditional hard copy; theEY Tax Guide 2017 keeps track of tax law changes so you don't have to. Taxpayers and professional preparers alike can sign up for the guide's companion website at ey.com/EYTaxGuide to receive tax alert emails and access up-to-date information about tax law changes.
The EY Tax Guide 2017 is packed with helpful tips, including:
- Taking advantage of available tax breaks and deductions
- Seeing how the law has changed since last year's filing
- Avoiding 25 common, costly preparation errors
- Identifying 50 most overlooked deductions
- Getting focused guidance on your specific tax situation
For more than three decades, the EY Tax Guide (John Wiley & Sons, Inc.; $24.95, 1080 pp.) has been a top choice for American taxpayers, providing the answers alongside trusted advice from EY professionals to help turn filing your taxes into a simple process.
The guide not only brings clarity and ease to an otherwise complex process, it also includes the official Internal Revenue Service (IRS) tax guide, Publication 17 – Your Federal Income Tax, which contains the IRS's position on many of the questions taxpayers face and the latest tax law changes.