March 14th, 2010 | 
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Income that is earned from investments is a significant factor in the amount of Alternative Minimum Tax an individual pays. Certain types of investment income (dividends, capital gains, certain interest, e.g.) as well as the amount of this income in relation to the taxpayer’s other income, all factor into the AMT formula. A taxpayer usually [...]
March 3rd, 2010 | Print This Post
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As we sit today, we do not have an estate tax in 2010. The problem this presents is that, through an interplay of the estate tax rules and the Alternative Minimum Tax rules, if Congress does not act to reinstate the estate tax for 2010 there will be a significant increase in the number of [...]
February 14th, 2010 | Print This Post
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The Alternative Minimum Tax often is described as a “separate” tax system or a “parallel” tax system, separate and distinct from the “regular” tax system that applies to everyone. While the AMT creates a unique fraternity with a membership of over four million out of a total taxpayer population of over 150 million, there really [...]
February 6th, 2010 | Print This Post
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One of every seven taxpayers subject to the Alternative Minimum Tax is paying it, at least in part, because of what is known in the tax law as a passive activity. A passive activity is the tax characterization of a certain type of investment, and it may be possible for a taxpayer to reduce his [...]
February 2nd, 2010 | Print This Post
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The itemized deduction for medical and dental expenses is an item that affects a significant number of individuals who are stuck in the Alternative Minimum Tax. Depending on the type of health insurance an individual has (high deductible plan with a Health Savings Account versus a high amount of coverage with a small copay), and [...]
January 24th, 2010 | Print This Post
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In our last article we talked about the Alternative Minimum Tax item resulting from depreciation of business or rental property. A direct corollary of that issue is the AMT item that results from any subsequent sale or other disposition of such property. Critical to minimizing a taxpayer’s AMT is an understanding of the relationship between [...]
January 20th, 2010 | Print This Post
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Surprisingly, one of every six individuals paying the Alternative Minimum Tax has depreciation as an AMT item. It may or may not individually be a large item to a particular taxpayer, but the good news is that it is easy to plan around, and this planning can be done any time up until the filing [...]
January 14th, 2010 | Print This Post
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With the turning of the calendar to 2010, many of the opportunities for 2009 AMT planning are gone. This article will provide a brief overview of the AMT strategies that still are available for 2009, as we sit today, and some of these will be explored in more detail in future articles. Many of these [...]
December 29th, 2009 | Print This Post
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Year-End AMT Planning Wrap-Up – Part 2 The AMT items that were talked about in Part 1 of this wrap-up generally were the bigger ones that can, depending on a taxpayer’s situation, present immediate year-end Alternative Minimum Tax savings opportunities. But the other items that were discussed in this 10-week series also are important in [...]
December 27th, 2009 | Print This Post
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Year-End AMT Planning Wrap-Up – Part 1 In our 10-week series of articles on tax planning for the Alternative Minimum Tax, we have looked at many things a taxpayer can do to reduce his AMT liability. With only four days left in which to act in order to reduce 2009’s taxes, here is a summary [...]
