Tax Planning 6- AMT and How It's Determined Flashcards
1
Q
What is AMT?
A
2
Q
How is it determined?
A
3
Q
Who does AMT benefit?
A
4
Q
Does AMT account for inflation?
A
5
Q
Does AMT vary for single and married individuals?
A
6
Q
Why has there been a 90% decrease in taxpayers subject to AMT?
A
AMT Phase-out increased dramatically
Fewer deductions under the regular income tax code
