Although the alternative minimum tax (AMT) is an alternative method of calculating income tax, the "minimum" aspect is somewhat of a misnomer: the taxpayer must calculate...
Posted by Abundant Wealth Planning LLC on 07/09/2022
What is the alternative minimum tax (AMT)?Alternative Minimum Tax (or AMTs) is a different but parallel method of calculating the taxpayer's account. It applies to people with...
Posted by Taxes Made EZ Inc on 01/09/2022
Alternative minimum tax refers to a percentage of taxes a taxpayer must pay the government regardless of the deductions the taxpayer claims. With the AMT, some taxpayers get to pay...
Posted by Cypress Tax Solutions on 02/23/2021
An alternative minimum tax puts a cap on the tax percentage amount every taxpayer must pay no matter the deductions or credit they claim. As long as your income is above a specified...
Posted by Karen Munoz, EA on 12/26/2020
Ready or not, the tax return changed again during the 2020 tax season. In 2018, the IRS significantly reduced the Form 1040, completely revising the previous traditional version and...
