The current edition includes discussion of significant changes to the charitable contribution rules, the new alternative minimum tax refundable credit, the deduction for mortgage insurance premiums, mortgage debt relief, and much more. Make this Deskbook your primary resource manual for your Form 1040 clients. This Deskbook includes:

• Practical guidance in a key issue format that gives you and your staff quick answers to your questions.
• Over 300 key issues that answer the tough reporting questions; discussed and illustrated using authoritative references, real life examples, and filled-in forms.
• A Unique Quick Reference Binder full of practice aids that place important information at your fingertips and are designed to save you time and money.

Here are some of the features contained in the latest edition of PPC's 1040 Deskbook:

• Personal Exemptions. A special rule comes into play when two or more taxpayers claim a qualifying child as a dependant. The Deskbook provides an up-to-date discussion of this tie-breaker rule.
• Depreciation. The Economic Stimulus Act of 2008 (Stimulus Act) included provisions significantly affecting depreciation. The Deskbook includes updated discussions and several new examples to reflect changes to the Section 179 limits and the new 50% bonus depreciation provision.
• Charitable Contributions. For some time, taxpayers have been required to substantiate their charitable contributions in order to deduct them for federal income tax purposes. However, some of the rules describing the substantiation procedures have been unclear. This year’s edition covers new proposed regulations that clarify several of the substantiation requirements for charitable contributions.
• Alternative Minimum Tax. The 2008 Extenders Act allowed increased AMT exemption amounts, made changes to the refundable minimum tax credit (MTC), and provided for ISO-related AMT abatement and adjustment. The Deskbook has been updated to reflect these significant AMT provisions.
• Kiddie Tax. The Small Business and Work Opportunity Tax Act of 2007 expanded the kiddie tax rules to apply to children who have earned income that does not exceed half of their support and are either age 18 or a full-time student age 19–23. The Deskbook provides an up-to-date discussion of these special tax rules.
• First-time Homebuyers Credit. Under the Housing Assistance Tax Act of 2008, a new credit is available for eligible individuals purchasing a home for the first time between April 9, 2008 and July 1, 2009. The Deskbook includes detailed coverage of this new personal credit.

PPC’s Tax Practice Aids™ in Word and Excel
Introducing the next generation of tax efficiency tools! Get all of the editable practice aids in PPC’s 1040 Deskbook (including engagement letters, checklists, worksheets, elections (with requirements explained), and other practice management resources delivered in convenient Microsoft Word and Excel templates – and save hours of preparation and review time!

• No need to retype practice aids into MS Word.
• Easy to edit and customize.
• Built-in functionality and features to reduce preparation and review time.
• Electronic format facilitates less-paper workflows making it easy to access client data.
• Easily link to PPC’s 1040 Deskbook for additional targeted expert guidance.
• MS Word and Excel platform eliminates learning curve and staff training costs.
• Pick and choose the templates you need or use them all — with or without the related PPC Deskbook. It’s up to you!

PPC’s Tax Practice Aids in Word and Excel are a separate purchase and are not included with subscriptions to PPC’s 1040 Deskbook. For descriptions of all available tax practice aid templates, or to view a Quick Tour, visit http://ppc.thomson.com/epatax.

Integration with UltraTax CS™
PPC’s 1040 Deskbook now integrates directly with UltraTax CS™. Quickly find the correct answers to your tax preparation questions--directly from your input screen! Simply click on the PPC icon on the UltraTax CS screen and the PPC Deskbook guidance and practice aids directly dealing with that input screen topic will display. Don’t spend valuable time keyword searching or browsing a table of contents for your answer. Clicking on the relevant link takes you directly to the information you need! For information on UltraTax CS or to view a demo of the integration with PPC Deskbooks on Checkpoint, visit http://cs.thomson.com/tax/quicklook.aspx.

Call 800.323.8724, option 1, to find out more!