READING ROOM

Physician's Money Digest, May 15 2003, Volume 10, Issue 9

(McGraw-Hill; 2003; $16.95)

Lower Your Taxes—Big Time!By Sandy Botkin, CPA, Esq

Wouldn't it be great todeduct your golf games,shows, and other entertainment activities,or to turn tuition and weddingsinto the equivalent of deductions by hiringyour family, even your 7-year-old, aspractice employees? How about claiminghome parties, family vacations, anddry cleaning bills after business trips?

Lower Your Taxes—Big Time!

Believe it or not, these are a handfulof IRS-approved methods pointedout by former IRS attorney SandyBotkin in his book that taxpayers, particularlythose with small businesses, can use tolower taxes. Unknowingly, many UScitizens tend to overpay the governmentrather than risk the chance ofbeing audited. Tax laws are complicatedand constantly changing, and thereis a serious lack of knowledgeabout tax benefits on the partof both taxpayers and manytax preparers.

Especially useful for physicians,there are great tax lawsfor small businesses designedby Congress to help the economy.Botkin's informative and eye-openingbook explains how the IRS operates,while helping readers to lower theirtaxes. He clearly shows who gets auditedand why, and offers advice on findinga good accountant to help you inyour tax preparing.

The book's straightforward mannerdebunks many of the common mythsabout the IRS and gives practicaladvice on how to IRS-proof your returnswhile claiming all the legal andIRS-sanctioned deductions. Practicalexamples, helpful forms and flowcharts,chapter summaries, and dosesof humor combine to illustrate pointsand tax strategies.