Relevant tax tips and updates for small business owners and individuals.
Sunday, August 1, 2010
Alternative Minimum Tax - Don't Wait Until After the Year Ends
Tax planning to manage the impact of AMT requires a multi-year planning approach. The acceleration of income and/or state tax payments into a certain year may reduce total taxes paid over time when AMT is a factor. It is critical to identify risk of being subject to AMT and work on a minimization strategy in advance of year end.