AMT refers to Alternative Minimum Tax, an alternate tax calculation that applies to some taxpayers.
This questions comes up from clients now and then. Here’s a scenario I dealt with a few years ago. SCENARIO: Client has their eye on a piece of property they want to buy. They take out a line of credit against their house in order to purchase the property. Then the deal falls through. The […]
An example of what could happen if Congress doesn’t pass a patch to the alternative minimum tax for 2012.