November 30, 2011
AMT CalculatorKiplinger provides this on-line AMT Calculator:
The Alternative Minimum Tax is a parallel system developed more than 40 years ago by Congress to make sure the wealthy paid at least some income tax. But because the AMT was never indexed for inflation, it increasingly ensnares many middle-class Americans. Knowing whether you’re likely to be snagged by the AMT can help guide your year-end tax planning.
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Here is the link to a short video that explains the AMT in simple terms for taxpayers who don't understand what it is and why they have to pay it.
Posted by: Woody | Dec 1, 2011 12:39:54 AM