Tag Archives: AMT
Do I have to pay the Alternative Minimum Tax?
Thursday, May 6, 2010 // 0 Comments // FAQs
Determining whether you’re required to pay the AMT is tricky, as a number of things on your return can effect liability. Typically, an AMT exemption is offered to taxpayers with moderate income levels, but after reaching a certain point the AMT still applies. Because calculations are complicated, it’s smart to consult a professional accountant with [...]
Read more & Talk about itWhat is the Alternative Minimum Tax?
Thursday, May 6, 2010 // 0 Comments // FAQs
Originally, the Alternative Minimum Tax, also known as the AMT, was designed to close loopholes that allowed high-income taxpayers to pay little or no tax. The AMT required taxpayers to pay a minimum amount of tax and calculated income by an alternative set of rules. In theory, this sounds like a smart idea, but in [...]
Read more & Talk about itTax Strategies for Business Owners
Thursday, May 6, 2010 // 0 Comments // Financial Guides
Business tax strategies are generally aimed at reducing tax liabilities and maximizing credits and deductions. Planning in advance is key to successful strategizing, as is diligent recordkeeping. Businesses benefit from individualized planning to meet their specific needs, since strategies that may help a business at one income level could actually hurt a business at a [...]
Read more & Talk about itTax-Law For Individuals
Thursday, May 6, 2010 // 4 Comments // News
Alternative Minimum Tax (AMT) There are several changes affecting Alternative Minimum Tax for 2009. Child-Related Tax Changes Information on adoption benefits, child’s investment income, the definition of a qualifying child, and additional child tax credit. COBRA Premium Assistance P.L. 111-118 made changes to the COBRA premium assistance provisions. Decreased Estimated Tax Payments for Qualified Individuals [...]
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