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CCH can assist you with stories, including interviews with CCH subject experts.
Also, the 2006 CCH Whole Ball of Tax is available in print. Please
contact:
Leslie Bonacum
(847) 267-7153
mediahelp@cch.com
Neil Allen
(847) 267-2179
neil.allen@wolterskluwer.com
Link to special CCH Tax Briefings on key topics from 2005:
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2006 CCH Whole Ball of Tax
CCH Toolkit Tax Guide 2006 Helps Taxpayers Understand What They
Owe, Where to Look for Tax Breaks
Save by Avoiding Common Errors; Simplify
and Save More on Tax-prep and E-filing with CCH CompleteTax
(RIVERWOODS, ILL.,
January 2006) – Last year was another busy tax year, as Congress passed
a series of tax bills, including the $6.1 billion Katrina Emergency Tax
Relief Act, and numerous other tax code changes went into effect, were
adjusted or expired – all of which taxpayers need to know if they want
to make sure they meet – but don’t exceed – their tax obligation for 2005. All
this and more is covered in the CCH Toolkit™ Tax Guide 2006, published
by CCH, a Wolters Kluwer business and a leading provider of tax and accounting
law information, software and services (tax.cchgroup.com). The CCH Toolkit
Tax Guide 2006, now in its eighth year, is available in bookstores
nationwide starting in January.
“This year,
taxpayers continue to reap the benefits of several major tax-cut packages
enacted in 2001 through 2004. In addition, the Katrina Emergency Tax Relief
Act of 2005 provides further tax relief for individuals and businesses
affected by the hurricane as well as incentives to promote charitable donations
for victims,” said CCH Small Business Tax Analyst Paul Gada, JD,
author of CCH Toolkit Tax Guide 2006. “At the same time, all taxpayers
are experiencing the challenge of dealing with a tax code that is exceedingly
complex and continuously changing. The opportunities for the average taxpayer
to reduce their 2005 tax obligations are numerous, so too are the risks
of overpaying taxes or misinterpreting the rules, which could lead to
penalties down the road.”
The latest edition of the CCH Toolkit Tax Guide helps
taxpayers – including individuals and entrepreneurs – identify the benefits
before them and manage their taxes so they can better prepare their 2005
tax returns, as well as begin planning for 2006. It also includes free
income tax preparation of a state and federal return and e-filing with CompleteTax™
(www.completetax.com),
CCH’s easy-to-use online tax return service for individuals.
The Guide Individuals Rely on Year after Year
CCH Toolkit Tax Guide 2006 has complete analysis of individual and family income
tax issues, including detailed sections on:
- Employment Income;
- Real Estate;
- Investments;
- Retirement;
- Deductions; and
- Credits.
Written with the average taxpayer in mind, the CCH
Toolkit Tax Guide offers easy-to-follow guidelines that help taxpayers
take advantage of all available tax breaks and deductions while avoiding
common errors.
The Definitive
Guide for Helping Entrepreneurs Reduce Taxes
As in past years, the CCH Toolkit Tax Guide also
provides an invaluable discussion of business tax issues for the small
business owner.
Areas crucial to the entrepreneur addressed here are
an overview of business entity types and the Schedule C tax form, as well
as computing and reporting business income, deductible business expenses,
capital assets and depreciation, the self-employment tax and business tax
credits to ensure business owners accurately report both their income and
realize any deductions, depreciation or credits that can reduce their tax
bill.
“Entrepreneurs view their business as an integral part
of their life, so it’s sometimes difficult for them to separate home and
work. But, from a tax perspective, it’s absolutely essential to do so –
both to stay on the right side of the tax code as well as ensure they can
claim all the deductions and credits for which they’re eligible,” said
Gada. “From the outset, the CCH Toolkit Tax Guide has always kept
in mind the unique needs of the entrepreneur and how this factors into
a family’s tax reporting and tax planning.”
Something for
Everyone
For the novice, the CCH Toolkit Tax Guide provides
an overview of basic tax planning, providing actionable information on
what taxpayers can do to reduce their taxable income and tax rate. It
also offers hints on overcoming one of the greatest weaknesses of many
taxpayers – keeping good records – by clearly identifying what records
must be kept and for how long. Also, it has one of the most extensive glossaries
available for demystifying tax jargon – a challenge for all taxpayers.
Easy, Free Filing
with CCH CompleteTax
Those who purchase the CCH Toolkit Tax Guide 2006 will
be able to prepare and electronically file both a federal and a state income
tax return at no additional charge via CCH CompleteTax (www.completetax.com). This
$34.95 value allows purchasers of the Guide to tap into one of the
most comprehensive online tax filing solutions on the market today – putting
all the knowledge of the Tax Guide into action to help taxpayers
quickly and accurately prepare and file their federal and state tax returns.
Year-round Guidance
Long after the tax returns are filed, the CCH Toolkit
Tax Guide continues to offer value, providing a section devoted to
future tax planning matters.
“The tax code now is filled with regulations that not
only adjust for inflation but phase in or phase out at different points
making tax planning impossible unless you have a clear roadmap of the rules
and understand how, when and to whom they apply,” said Gada. “The CCH
Toolkit Tax Guide is the hands-down best resource when it comes to
providing a clear synopsis of those rules most likely to impact taxpayers
so that they can be aware and best position themselves to take advantage
of the changes today as well as throughout the coming year.”
Beyond using clear language to help taxpayers through
the tax maze, the Tax Guide further diminishes complexity by offering
hundreds of tips, examples, charts and tables to equip taxpayers with the
information they need to make informed decisions about their immediate
situation, as well as for longer term planning.
Combining Print,
Online for Best Resources
In addition to using the print CCH Toolkit Tax Guide as
an ongoing reference, buyers also are encouraged to tap into CCH’s online
resources for individuals and small businesses throughout the year to keep
tabs on tax code changes and updates on tax planning. These resources include:
- The CCH Business Owner's Toolkit (www.toolkit.cch.com),
developed by the same team of tax, financial planning and small business
experts who produce the CCH Toolkit Tax Guide 2006. This online
resource offers updates as well as useful resources to help entrepreneurs
start, run and grow their small businesses, including the widely read
“Ask Alice” advice column.
- The CCH Financial Planning Toolkit (www.finance.cch.com), providing individuals
with year-round access to financial planning information on topics such
as retirement, estate planning and investing as well as more tax guidance.
Pricing and
Availability
CCH Toolkit Tax Guide 2006 (ISBN 0-8080-1274-6) is available in major retail
and online bookstores (Barnes and Noble, Borders, amazon.com) nationwide;
via the CCH Business Owner’s Toolkit bookstore (www.toolkit.cch.com);
or by calling 1-800-248-3248. The 432-page soft-cover book sells for $17.95,
plus applicable shipping, handling and tax.
About CCH, a Wolters
Kluwer business
CCH, a Wolters Kluwer business (tax.cchgroup.com)
is a leading provider of tax, audit and accounting information, software
and services. It has served tax, accounting and business professionals
and their clients since 1913. Among its market-leading products are The
ProSystem fx® Office, CCH® Tax Research Network™, Accounting
Research Manager™ and the U.S. Master Tax Guide®. CCH is based
in Riverwoods, Ill.
Wolters Kluwer is a leading multinational publisher and information
services company. Wolters Kluwer has annual revenues (2004) of €3.3 billion,
employs approximately 18,400 people worldwide and maintains operations
across Europe, North America and Asia Pacific. Wolters Kluwer is headquartered
in Amsterdam, the Netherlands (www.wolterskluwer.com). Its depositary receipts
of shares are quoted on the Euronext Amsterdam (WKL) and are included in
the AEX and Euronext 100 indices.
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EDITORS’ NOTE: For a complimentary editorial
review copy of CCH Toolkit Tax Guide 2006, members of the press
can contact Mary Jung at 773-429-0940, mtjung@msn.com; or Leslie Bonacum
at 847-267-7153, mediahelp@cch.com.
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