Author's articles
Significant Progress Being Made on the AMT Patch
By George Bauernfeind · 13 years ago
The good news we’ve been reading this week is that the desperately-needed Alternative Minimum Tax patch has now been included in the same bill as the extension of the so-called Bush tax cuts. Congress is ...
IRS Assumes AMT Patch Even Before Congress Changes the Law
By George Bauernfeind · 13 years ago
In unprecedented action, the IRS has jumped the gun and changed its Alternative Minimum Tax form – Form 6251 – to reflect the current estimate of what the AMT exemption amount would be if and ...
Congress Reveals its Thinking on the AMT Patch
By George Bauernfeind · 13 years ago
In a letter sent to IRS Commissioner Doug Schulman by the leadership of the tax-writing committees of both houses of Congress, these individuals have revealed their specific plans for the Alternative Minimum Tax patch for ...
A Lame-Duck Congress and the AMT Patch
By George Bauernfeind · 13 years ago
The year is rapidly drawing to a close, and Congress has not yet addressed the Alternative Minimum Tax "patch." This so-called "patch" is the adjustment that needs to be made to the AMT exemption amount ...
Real Estate and the AMT: Rental or Investment Property
By George Bauernfeind · 14 years ago
The Alternative Minimum Tax is a very important consideration for taxpayers who own real estate because just about every tax rule applying to real estate is different for the AMT than it is for the ...
Real Estate and the AMT: Home Ownership
By George Bauernfeind · 14 years ago
The Alternative Minimum Tax is a very important consideration for taxpayers who own real estate because just about every tax rule applying to real estate is different for the AMT than it is for the ...
Real Estate and the AMT: Overview
By George Bauernfeind · 14 years ago
The Alternative Minimum Tax is a very important consideration for taxpayers who own real estate, because many of the rules that apply to real estate are different for the AMT than they are for the ...
AMT Case Study: Vice President Biden’s 2009 Tax Return
By George Bauernfeind · 14 years ago
As has become customary, the President and the Vice President have released their recently-filed tax returns. You can find these tax returns on the White House blog by doing a search for "tax returns." An ...
Calculation of the AMT - State and Local Income Taxes
By George Bauernfeind · 14 years ago
Every state with an income tax requires that you pay the tax throughout the year, just as the IRS does. This is done either through withholding from your paycheck - if you are an employee ...
Impact of Itemized Deductions on the Alternative Minimum Tax
By George Bauernfeind · 14 years ago
In previous articles we talked about the different tax brackets for the Alternative Minimum Tax and the Regular Tax, and the AMT exemption and how its phase-out throws a lot of people into the AMT. ...
Top 10 Traps Set by the AMT
By George Bauernfeind · 14 years ago
Of the nearly 30 different items that can cause taxpayers to fall into the AMT, a few are much more common than others. Here is a quick look at the "top ten" list of those ...
The Estate Tax and the AMT – An Urgent Concern for Taxpayers
By George Bauernfeind · 14 years ago
As we sit today, we do not have an estate tax in 2010. The problem this presents is that, through an interplay of the estate tax rules and the Alternative Minimum Tax rules, if Congress ...
AMT & Disposition of Business or Rental Property
By George Bauernfeind · 14 years ago
In our last article we talked about the Alternative Minimum Tax item resulting from depreciation of business or rental property. A direct corollary of that issue is the AMT item that results from any subsequent ...
Alternative Minimum Tax Planning Ideas...Depreciation
By George Bauernfeind · 14 years ago
Surprisingly, one of every six individuals paying the Alternative Minimum Tax has depreciation as an AMT item. It may or may not individually be a large item to a particular taxpayer, but the good news ...
Incentive Stock Options (ISOs) - Part 1
By George Bauernfeind · 14 years ago
There are many different ways an employer can award an employee with equity, or stock ownership, in the company. Briefly explained below are the ones commonly used for this purpose. Critical to planning for the ...