What is Alternative Minimum Tax (AMT), and how does it affect you?
Alternative Minimum Tax The amount of taxes a filer must pay to the government is capped by the alternative minimum tax (AMT), regardless of how many credits or deductions they can claim. After reentering specified tax preference items into adjusted gross income, the AMT recalculates income tax. AMT calculates taxable income after permitted deductions according …
What is Alternative Minimum Tax (AMT), and how does it affect you? Read More »
