Alternative Minimum Tax

2 Posts
1 Sections
1 Types

January 1, 1 7 min read Definitions

Alternative Minimum Tax AMT Tax System Income Tax Tax Credits Tax Deductions Middle Class Taxpayers Corporate Tax

The Alternative Minimum Tax (AMT) is a parallel tax system designed to ensure that taxpayers who claim certain deductions and credits still pay a minimum amount of tax.

January 1, 1 6 min read Definitions

Tax Preference Items

Tax Preference Items Alternative Minimum Tax Income Deductions Depreciation Real Estate Tax Financial Reporting Tax Planning

Tax preference items are specific types of income or deductions that are added to gross income to calculate the Alternative Minimum Tax (AMT). These items can include types of depreciation on real estate, among other things.