Picks and Pans Review: Touche Ross Video Tax Guide 1988

UPDATED 03/07/1988 at 01:00 AM EST Originally published 03/07/1988 at 01:00 AM EST

Here again is a cadre of Touche Ross & Co. tax experts, as sober-sided a group as ever wielded a modified accelerated cost recovery system. They don't lead viewers through their tax returns or decipher the befuddling new tax regulations. This 75-minute tape, tailored to sophisticated taxpayers, is designed as a guide to planning 1988 tax strategies. Seven chapters cover such subjects as tax planning for investments, small businesses and interest expense. Though the advisers—partners at the nation's eighth largest accounting firm—know their facts, the information dispensed is sometimes too obvious and general, as in a segment on Planning for Savings and Retirement. Municipal bonds, for example, are alluded to but insufficiently discussed. The tape is best when advice is fresh and specific, as in chapters on Planning for Real Estate Investments and How to Deal With an IRS Audit. (One kind of audit can be dealt with by mail; another requires having an inquiring agent as a house guest.) If there are "soft spots" on your return, use a tax adviser to represent you. If you disagree with the agent's conclusion, you can appeal, says Gerald Padwe, Touche Ross National Director of Tax Practice, but most taxpayers profit from settling at the lowest possible level; agents at the appeals office are sharper on tax issues and probably less sympathetic than the field agent in your living room. (Master Vision, $29.95; 212-879-0448 or write: 969 Park Ave. New York, N.Y. 10028)

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