Planning for the AMT – A proactive approach can limit your tax liability

Description

Abstract: Taxpayers who have come close to triggering the alternative minimum tax (AMT) in the past should start planning to minimize 2015 taxes as early as possible. This article defines the AMT and provides information on rates and available exemptions — as well as exemptions that can’t be taken under the AMT. It also suggests strategies for reducing current and future tax liability.