Category Archives: AMT

Overview of Alternative Minimum Tax AMT for Individuals

Understanding the Alternative Minimum Tax AMT is very important for higher income taxpayers and other taxpayers who might fund themselves in situations where the AMT might apply. The tax law gives special treatment to certain kinds of income and allows special deductions for certain kinds of expenses. Congress eventually determined that not all taxpayers are situated equally… Read More »

Category: AMT

Basic AMT Explanation and Information

The purpose of the AMT is to make sure that really rich people can’t just give all their money to charity instead of paying taxes. So if your income is high enough, you have to calculate your taxes twice — once the normal way, and once a second time to make sure you are paying… Read More »