Old Master Tax Guides

[Slippery Pencil]

How many years of prior Master Tax Guides or TaxBooks do you keep?

I'm cleaning out the house & office and I have the last 25 MTG and a few TaxBooks on the shelf.  20 years ago I actually used the current or previous year a few times but now I rarely even use the current version.  I feel I should keep the most recent 3 or possibly 7 years.  Doubt I'll even use those but can't imagine too many scenarios where I'd use anything past that.

[BulldogTom]

I just looked at my bookshelf out of curiosity and I have 2015 to 2021.  I probably should get rid of a couple years.  Every once in a blue moon you get a non-filer who might have some situation that you need to look up the rules for that year. 

Tom
Longview, TX   

[PapaJoe]

Mine go back to 1985. Lotta history there.

[mcb39]

I DO use it when the mud gets deep.  It has given me the answer that I couldn't find anywhere else, every once in a while.  That being said, I think 5 should be sufficient.  We have an outdoor  wood-burner; so mine are starting to turn to ashes.  How much reference material can we keep for our heirs to throw out?

[Randall]

I only have back to 2018.

 

[BLACK BART]

I kept the previous six for decades (long enough, I think).  Cut down to three this year.  

I've only had one poor soul on whom they ever went back six years.  His precedent was unprecedented.  A preacher, for heaven's (and his) sake.   

[BLACK BART]

Thanks for the "attaboy" smile, Marg.  You're a gentlewoman and a scholar.  

That makes two I've gotten this morning (counting the senior lady at McDonald's).

[jklcpa]

I would probably keep the guides for the open years. I currently only have one, from 2011.    Guess I can free up some shelf space. . . .

[mcbreck]

I have 1 Master Tax Guide book from a few years ago. The company I work with offers them for $31 each and I bought 20 and handed them out to attorney's and it became obvious nobody really wanted them.

[jklcpa]

1 hour ago, mcbreck said:

I have 1 Master Tax Guide book from a few years ago. The company I work with offers them for $31 each and I bought 20 and handed them out to attorney's and it became obvious nobody really wanted them.

That's a real bargain considering the full retail is almost $200, and that price is why I stopped getting them.

[JimTaxes]

Is anyone passing out 2023 MTGs?  I see ADP is but they want to meet and have me listen to their sales pitch.

[mcb39]

It is included with ATX Max.  I DO use it for research.

[Abby Normal]

5 hours ago, mcbreck said:

I have 1 Master Tax Guide book from a few years ago. The company I work with offers them for $31 each and I bought 20 and handed them out to attorney's and it became obvious nobody really wanted them.

It has to be online or a searchable PDF.

[mcbreck]

18 hours ago, Abby Normal said:

It has to be online or a searchable PDF.

Nope. They do offer a digital version (first year for that) but I can order as many copies of the book as I want for $30.38 per copy.

[kathyc2]

It used to be my goto source to answer questions.  I find it much easier to google what I want rather than open index of a book and then turn to the page where it's addressed.  I think a lot of hard copy reference material has gone the way of a paper phone book.

[mcbreck]

13 minutes ago, kathyc2 said:

It used to be my goto source to answer questions.  I find it much easier to google what I want rather than open index of a book and then turn to the page where it's addressed.  I think a lot of hard copy reference material has gone the way of a paper phone book.

100% agree.

[mcb39]

18 hours ago, kathyc2 said:

It used to be my goto source to answer questions.  I find it much easier to google what I want rather than open index of a book and then turn to the page where it's addressed.  I think a lot of hard copy reference material has gone the way of a paper phone book.

I find that my assistant is often googling and gets the answer before I do.  However, when it comes to a rare technicality; I will find the answer by digging in the MTG.  Case in point was a taxpayer who sold his home before the required 2 year habitation and was able to pro-rate gain because his job required him to move more than 50 miles.  He was only a couple of months short, but this reduced his CG dramatically.  I didn't KNOW this rule, but know it now.

[mcbreck]

If last year's copy of the guide is good enough, you can download it for free via Paychex. You set up a free log-in, go into the guide and when you try and download it the site will email you with a link to download the entire guide.

 

[joanmcq]

I think mine go back to 2002 or so. Time to start cleaning out. 

[samingeorgia]

I've got you all beat -- I have Package X from 1974 to the last time they issued it! I told somebody I expect to be buried with them, like Pharaoh....

[Lion EA]

I just tossed all my Packages X, including CT and NY versions, into recycle paper. I needed the shelf space, and those were the worst looking books. I still have TTB and others of that sort with better-looking spines!

[rscpa]

Yikes, just looked and mine goes back to 1994.... I will say the 1994 is half the size of the 2021 MTG!  If I dug in some drawers, I am sure I could find earlier ones....  

[mcbreck]

On 12/5/2022 at 1:39 PM, mcbreck said:

If last year's copy of the guide is good enough, you can download it for free via Paychex. You set up a free log-in, go into the guide and when you try and download it the site will email you with a link to download the entire guide.

 

The 2023 version is available for free download now.

[Abby Normal]

Here's the link to Wolters Kluwer's Master Tax Guide:

https://answerconnect.cch.com/browse/flat-list/csh-da-filter!WKUS-TAL-DOCS-PHC-{696b2e9a-80bb-35b1-8947-9b2a2971cdab}

[jasdlm]

I still have all my volumes of the CCH guide ... anyone else remember the big black 3-ring binder notebooks?  I keep them on a bookshelf now for decor!