Lawmakers call for SALT revival
Several lawmakers on Capitol Hill have introduced legislation calling for a revival of the SALT deduction.
Tag: alternative minimum tax
Ten questions to ask your CPA about the new tax law
The new tax law could have a significant impact on how individuals and small businesses file income taxes and make tax planning decisions.
Senate and House agree on final tax bill
A House and Senate conference committee agreed on a final tax bill that is expected to pass this week.
Tax reform clears another hurdle
A House-Senate conference committee will need to iron out the differences following Senate passage of a tax reform bill that differs from the House version.
Strategies to reduce AMT
About 4 million taxpayers each year get hit with the alternative minimum tax. Yet there are strategies for investors to try to mitigate or avoid the AMT.
Will you be subject to the alternative minimum tax?
For taxpayers that owe alternative minimum tax, here are some planning strategies to consider.
Five considerations for year-end planning
Here are several strategies that investors may use to try to reduce their tax bill.
Five tax strategies that require year-end attention
Nearly every area of financial planning offers strategies that can help taxpayers re-position their investments and reduce their tax liability. But many of these tax-smart ideas — involving capital gains, estate and gift planning, and the alternative minimum tax (AMT) — must be acted on by year’s end. Here are five strategies to consider. 1.
How many of your clients are subject to the AMT?
This year, nearly 5 million taxpayers could be subject to the alternative minimum tax (AMT). Chris Hennessey explains the AMT and offers some strategies to reduce the liability. The AMT was established in 1970, creating two parallel tax systems. Taxpayers calculate income tax under both systems and pay the higher amount. There are some tax
Are your clients at risk of owing AMT? Millions are.
Approximately four million taxpayers are expected to owe alternative minimum tax (AMT), despite congressional action to adjust the exemption level. Introduced in 1969, the AMT is intended to ensure that wealthy taxpayers could not avoid income tax by exploiting weaknesses in the tax code. Since the AMT was not indexed for inflation, the number of